Unmask NG learnt that the incident happened at Ijora Badia area of Lagos.

Confirming the incident, Olufemi Oke-Osanyintolu, the Director-General, Lagos State Emergency Management Agency (LASEMA), said emergency responders, had been deployed in the area to salvage the situation.

“There is a fire incident at the tank farm at Oando Depot in Ijora Badia. The agency has activated its emergency response plan and all relevant stakeholders have commenced appropriate measures to combat the flames and prevent secondary incidents;

“Lagosians are urged to remain calm. Further updates will be communicated,” he stated.

Also confirming the fire outbreak, OVH Energy, which handles the Oando retail brand in West Africa, reiterated the company’s commitment to safety.

“Safety remains our priority at OVH Energy as we operate under high safety standards to curb incidences of fire outbreaks as well as other health and safety risks from happening at any of our stations,” the firm stated.

While efforts were ongoing to put out the fire, Unmask NG, at the time of filing this report, could not establish the cause of the inferno.

The post Oando Tank Farm In Lagos Razed appeared first on Business News in Nigeria.

The value of trades recorded on Monday was NGN7,424 billion, higher than the NGN4,304 billion of Friday.

Meanwhile, on Monday, the All-Share Index reached 27,554.49 index points, higher than the 26,985.77 index points it ended trading with on Friday. The stock market also ended with NGN14,402 trillion equity capitalisation on Monday, higher than the NGN14,105 trillion of Friday.

Top Five Gainers

Airtel Africa led the top gainers’ chart after its stock price gained NGN20.2 kobo to close trading at NGN400.2 per share after opening today’s trading with NGN380 per share, this is according to the Nigerian Stock Exchange (NSE) market data seen by UNMASK NG.

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Seplat was second on the table, as its stock price gained NGN10 to close the market with NGN410 per share, having started trading today with NGN400 per share.

MTN Nigeria was the third top gainer as its stock price closed the market with NGN5 gain to move from the opening price of NGN130 per share to NGN135 per share. Presco follows, closing the market with a gain of NGN2 to end trading with NGN55 per share from the opening share price of NGN53 per share. Guinness was last on the top five gainers’ table after its share price rose from NGN14 per share to close trading at NGN15 per share, after gaining NGN1.

Top Five Losers

On the top of the losers list is Oando, which had begun trading earlier today at NGN2,29 kobo per share, only to drop in price by NGN-0.2 kobo to close at NGN2.09 per share at the end of trading today.

Nigerian Breweries was second on the chart after closing at NGN48.8 kobo per share from its opening trade price of NGN49 per share; this represents a drop of NGN-0.2 kobo. UBN also recorded a drop in its share price as it declined by NGN-0.1 kobo to close trading at NGN5 per share, below the NGN4.9 kobo per share it opened with.

UAC Property also recorded a drop in its share price as it declined by -6.52% to close trading at NGN0.86 kobo per share, below the NGN0.92 kobo per share it opened with. UAC Nigeria completed the top five losers chart after it closed trading with NGN6.45 kobo per share, declining by -0.77% from the NGN6.5 kobo per share it opened trading with.

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Top Five Trades

UNMASK NG learnt that the top trades in the stock market for today were Zenith Bank, which traded a volume of over 204.6 million units worth NGN3.8 billion. Sterling Bank was the second most traded stock today with over 55 million units worth over NGN71.2 million. UBA was next on the list, trading 51.2 million units worth NGN328.8 million.

GTBank was the fourth on the most traded stock list, closing the market with over 36.3 million units traded at a cost of over NGN1.07 billion, while Transcorp completed the top five list with over 35.1 million units traded today, worth NGN20.9 million.

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