FICML Client Login Portal

Important Notice

Please note that this service is for our client who want to have access to their account and carry out stockbroking transactions online, fee attached upon registeration on this portal

Disclamer

For more Information, Contact Us »

Client Login

Lost your password?

Not a member yet? Sign Up!

Access to the Account Regitration Portal Register »

 
In the News
Endorsing the role of the new E-Unit and adoption of new procurement pricing guidelines
Posted 09/02/2016/ 09:23:18 am | Share on Facebook
Last week, Patience Oniha, the head of the newly established Efficiency Unit (E-Unit) of the Federal Ministry of Finance affirmed that the Nigerian Government is targeting savings from the standardization of the prices for goods and services supplied to ministries, departments and agencies ( MDAs).

Inaugurating the E-Unit, the minister of finance, Mrs Kemi Adeosun provided a validation for the rationale in using guidelines and standards to benchmark government expenditure for efficiency and reduction in cost and overheads – by comparing with similar expenditures in the private sector and see how they have been able to negotiate their price and cost efficiently”.

Dr. Bolaji Aluko offered a perspective on the matter, one that endorsed the mindset and natural intendment of the initiative.

He stated in his memo to the CMR (a group of distinguished professionals in Corporate Nigeria) that “in other climes, governments – being the largest wholesale purchaser of certain goods and services - are able to negotiable favorable prices with supplies, For example, in the United States of America, there are favorable GSA prices (Government Service Agency) for many goods and services (including even car rentals and hotels) that published; from which federal government agencies (and agencies getting substantial government funding) can draw their prices”.

He went on to add that the “Introduction of such a scheme in Nigeria, if properly deployed, will be extremely beneficial, and remove the capricious nature of contract pricing in the country. More importantly, it will move a lot of items from overhead into capital. As far as federal budgeting is concerned , since item can noe be bought in bulk from manufacturers – a preference for local manufacturers can also be better instituted – who can work with distributors across the country to bring supply closer to users country-wide”.

It is obvious that for the change we seek to occur, we must embrace the paradigm shift that requires us to adopt global best practices at both leadership level and the citizens rights in the new governance architecture we are building. This is one such initiative the provides a nexus between the needs of government to achieve savings and the demands of citizen for an efficient government that allow and there you have it.

The E-Unit Initiative Explained
In a February 04, 2016 news report, PremiumTimes reported that the E-unit’s remit was “to use government’s large purchasing power to negotiate favourable terms from suppliers, while streamlining the procurement process to make it more wholesale rather than fragmented.”

According to the government unit “ There is potential opportunity to save up to N12 billion annually if goods and services are standardised and demands of MDAs are aggregated to negotiate fair discounts from suppliers, a process further enhanced through the introduction of price guidelines and shared services policy among MDAs to increase transparency in the procurement process, while the work processes and practices are reviewed to identify and eliminate areas of wastage, excess capacity and duplications.”

In the short to medium term, Mrs. Oniha said government would cut huge losses recorded in the past if the demand by MDAs were properly aggregated to allow for fair-discount negotiations from suppliers of goods and services.

However, Mrs. Oniha, who spoke extensively on the role of the E-Unit in the face of dwindling revenue, said over the years there were concerns over the disproportionate share of overheads (cost of running the government) in the annual budget.

She said the government had introduced reforms to reduce public sector costs, pointing out that there was the growing need to rationalise the number of public institutions and positions in line with the commitment to promote efficiency in government spending and achieve savings.

The key mandate of the unit, Mrs. Oniha explained, included efforts to eliminate waste and duplications in government’s work processes and activities as well as generate savings for government from the procurement process. The E-unit has the responsibility to review the public procurement process and compare with best practices from other jurisdictions and large private sector, to ensure that more was done with less, while creating value for money.

“The E-Unit is not going to be buying the supplies of the MDAs or create one warehouse where all the ordered items would be kept and distributed,” Mrs. Oniha explained. “Our mandate is to negotiate with suppliers to get fair bargains for government, which consumes huge quantities of the goods, rather than buying in fragmented quantities.”
 
 
Stock Market Insight as at 17th Aug 18
 
Top 5 Gainers View Gainers   
 SECURITY LAST CLOSE CURRENT CHANGE % CHANGE 

 UNILEVER

53.00

55.00

2.00

3.64 % 

 DANGCEM

206.00

220.00

14.00

6.36 % 

 AIRSERVICE

4.05

4.45

0.40

8.99 % 

 CUTIX

4.00

4.18

0.18

4.31 % 

 FO

23.00

23.15

0.15

0.65 % 

 
Top 5 LosersView Losers   
 SECURITY LAST CLOSE CURRENT CHANGE % CHANGE 

 DANGSUGAR

15.10

14.80

-0.30

2.03 % 

 NAHCO

3.99

3.73

-0.26

6.97 % 

 UBN

5.70

5.55

-0.15

2.7 % 

 ZENITHBANK

 22.95

22.85

-0.10

0.44 % 

 WAPCO

27.90

27.80

-0.10

0.36 % 

 
Top 5 Trades   [By Volume of Trade]
  SECURITY VOLUME VALUE (N)  

  MANSARD

94,489,040

240,958,552.00  

  TRANSCORP

17,405,011

19,600,045.13  

  ZENITHBANK

15,871,230

363,261,902.30  

  CHAMPION

10,198,900

240,958,552.00  

  UBA

9,626,390

80,488,888.75  

 
Financial Indicator
     
  TRADE VOLUME:

374319465

  NO. OF DEALS [TRADES]:

2875

  TRADE VALUE:

2722745513

  ALL-SHARE INDEX:

35266.29

  MKT. CAPITALIZATION:

12874917519692.65

 
NEWS & EVENTS

Financial inclusion FirstBank s DMD-designate leads discourse on potentials in the informal sector
Consistent with FirstBank’s thought leadership philosophy and commitment to drive financial inclusion in the informal sector, the Bank’s Deputy Managing Director - designate, Gbenga Shobo will be delivering a lecture on Financial Inclusion: Unleashin...

Posted on 19/02/2016/ 09:47:22 am

Flour Mills of Nig Plc Q3 2016 Result - Words from Management
Cordros had a call last week (Friday) with the management of Flour Mills of Nigeria Plc (FLOURMILL) to discuss the recently released results for the period ended 31 December 2015 i.e. Q3-15/16 and 9M-15/16. Following the result/call, we have revi...

Posted on 09/02/2016/ 09:32:44 am

DANGCEM lifts NSE-ASI on last minute rally
The equities market closed today on a positive note, as NSE ASI appreciated by 2.02% to close at 23,977.87basis points, compared with the 0.07% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -16.29% ...

Posted on 09/02/2016/ 09:30:18 am

FO Joins United Nations Global Compact Corporate Responsibility Initiative
Nigeria’s premier integrated energy solutions provider has been listed as a participation of the United Nation Global Compact, the world’s largest corporate social responsibility initiative with over 8,000 companies and 4,000 non-business participant...

Posted on 09/02/2016/ 09:26:04 am

Endorsing the role of the new E-Unit and adoption of new procurement pricing guidelines
Last week, Patience Oniha, the head of the newly established Efficiency Unit (E-Unit) of the Federal Ministry of Finance affirmed that the Nigerian Government is targeting savings from the standardization of the prices for goods and services supplied...

Posted on 09/02/2016/ 09:23:18 am

xx
xx...

Posted on 05/04/2018/ 12:08:07 am

The Nigerian Economy Past Present and Future - NBS
The turmoil in global commodity markets, witnessed in the second half of 2014 brought their full weight to bear on the Nigerian economy in 2015. Oil prices fell 66.8% from $114/barrel recorded in June 2014, to $38.0 by December 2015. Prices fell even...

Posted on 05/02/2016/ 12:53:41 pm

Nigeria in 1min: Economic Business Financial Headlines
The turmoil in global commodity markets, witnessed in the second half of 2014 brought their full weight to bear on the Nigerian economy in 2015. Oil prices fell 66.8% from $114/barrel recorded in June 2014, to $38.0 by December 2015. Prices fell even...

Posted on 05/02/2016/ 12:46:59 pm

There is need for more sweep in e-banking
Electronic banking has increasingly become a core tool of banking business strategy and a strong catalyst for economic development. At the same time, the adoption of e-payment channels increases the incidence of electronic fraud. Considering the...

Posted on 05/02/2016/ 12:36:23 pm

FCMB is Maintaining Underperform Rating on Weak Outlook
Following FCMB Group’s (FCMB) results which surprised negatively, we have cut our 2016E earnings forecast by 20% and our price target by 22% to N0.5. The cut to our EPS forecast is mainly driven by a -7% reduction to our funding income estimate (we h...

Posted on 05/02/2016/ 12:33:49 pm

Currency woes and capital flows in emerging markets - View on Devaluation
We have heard countless of time that capital inflows are just waiting in the wings to pour back in if only Nigeria would devalue its currency. Recent evidence from emerging markets suggests that they should go and tell that to the marines! We note...

Posted on 05/02/2016/ 01:14:22 pm

2016 The Year of Stark Economic Reality LBS Executive Breakfast Session
2016 will be the year of the enthronement of the consumer in Nigeria. Improved access to market information, declining disposable income and industry fragmentation will increase consumers’ options and choice. In the second quarter, after a period...

Posted on 05/02/2016/ 01:12:29 pm

the analyst | stock picks
VONO Stock is showing bullish breakout with V shape recovery - A closer look on the daily chart of VONO reveals that earlier stock was falling down and making successive lower lows and lower highs. The bears were driving the car in full cont...

Posted on 05/02/2016/ 01:07:50 pm

 
  • STOCK CALCULATOR
Call Us+234-812-880-6668
+234-806-387-7276
       © 2018 First Integrated Capital Management Limited | All Rights Reserved
Designed & Powered by Apparatus.Tech - 08053527319