The Nigerian equities market on Monday witnessed a significant dip as profit-taking activities among investors dragged the overall performance of the Nigerian Exchange Limited (NGX). The bearish trend resulted in a loss of about N325 billion in market capitalization, signaling a pullback after weeks of sustained rallies that had pushed the stock market to new highs. Analysts attributed the downturn to cautious sentiment among investors who sought to lock in gains amid ongoing economic uncertainties. Data from the NGX showed that the All-Share Index (ASI) slipped by 0.57 percent, closing at 98,552.76 basis points, compared to the previous trading session’s…
Author: Temitope Nlewemchi
The Nigerian Exchange (NGX) has disclosed that domestic investors accounted for transactions worth ₦5.46 trillion between January and August 2025, highlighting a growing shift in market participation amid fluctuating foreign interest. This surge reflects increasing confidence in Nigeria’s capital market despite economic headwinds, currency volatility, and global uncertainties. According to NGX’s latest market data, domestic participation far outweighed foreign transactions during the eight-month period. Analysts suggest that the trend signals renewed trust by local institutional and retail investors, particularly at a time when the Central Bank of Nigeria (CBN) is rolling out reforms to stabilise the naira and tame inflation.…
Nigeria’s capital market has posted a remarkable turnaround under President Bola Tinubu’s reform agenda, with the volume and value of transactions nearly tripling in just two years, according to the Chairman of the Nigerian Exchange Group (NGX), Umaru Kwairanga. Speaking during a diplomatic visit to Brazil, Kwairanga credited Tinubu’s wide-ranging interventions—particularly in the oil and gas sector, foreign exchange policy, and tax administration—for restoring stability and investor confidence in the financial markets. He described the surge in activity as a direct outcome of bold reforms that have positively transformed both the economy and the capital market. Building on his remarks,…
The Nigerian Institution of Estate Surveyors and Valuers (NIESV) has renewed its call for the adoption of ground rent as a key strategy for revenue generation and housing affordability in Nigeria. Speaking during the 2025 Estate Surveyors’ Week held in Lagos, the Lagos State Chapter Chairman, Gbenga Ismail, emphasized that the implementation of a well-structured ground rent system could significantly boost government income while simultaneously promoting access to affordable housing for ordinary Nigerians. Ground rent refers to the periodic payment made by leaseholders to landowners—usually government—in exchange for the right to occupy and develop a parcel of land. Ismail highlighted…
The Lagos State Government has announced the cancellation of the Greater Lagos Fiesta 2025, a major end-of-year entertainment event traditionally held across key locations in the state, citing the need for reflection and prayers as the year draws to a close. In a statement released on Monday, the state government said the decision was taken after careful consideration of prevailing circumstances, emphasizing the importance of unity, solemn reflection, and collective prayers as Lagosians prepare to enter 2026. The government urged residents to use the period to pray for peace, progress, and prosperity for the state and the nation at large.…
The collection of empty containers at the Apapa Port has been suspended indefinitely by APM Terminals, one of the key terminal operators in Lagos. This move, which took effect earlier this week, has already started causing concern among importers, truck operators, and other port users. According to industry sources, the suspension is due to congestion at the terminal, with a high volume of empty containers reportedly overwhelming available space. APM Terminals has not released an official statement detailing the exact reasons for the suspension or how long it is expected to last, but stakeholders say the backlog has become increasingly…
The Federal Airports Authority of Nigeria (FAAN) has announced plans to implement cashless payment systems at the Murtala Muhammed International Airport (MMIA), Lagos, and the Nnamdi Azikiwe International Airport (NAIA), Abuja, as part of its modernization drive to enhance transparency, accountability, and efficiency in airport operations. The initiative is expected to kick off before the end of the year and will serve as a pilot phase for a nationwide rollout. According to FAAN management, the adoption of cashless transactions will align the nation’s airport operations with global best practices, reduce leakages in revenue collection, and improve the ease of doing…
Champion Breweries Plc has secured shareholder approval to raise ₦45 billion in fresh capital as part of its strategy to scale operations, enhance competitiveness, and reposition the company for long-term growth. The decision was reached at the company’s Extraordinary General Meeting (EGM), held in a virtual format, where investors overwhelmingly supported the capital injection plan. The approved funds are expected to be raised through a combination of debt instruments, including bonds, notes, and other forms of capital market securities. According to the company’s board, the capital raise will be executed in tranches, with flexibility to explore both local and international…
Abbey Mortgage Bank has unveiled plans to raise ₦100 billion in fresh capital as part of its strategic transformation from a primary mortgage bank to a regional commercial bank. This move comes in response to the Central Bank of Nigeria’s (CBN) revised regulatory framework, which sets higher capital requirements for banks wishing to expand their scope and operations. Specifically, the CBN now mandates a minimum capital base of ₦50 billion for regional commercial banks, a threshold that Abbey Mortgage Bank intends to exceed in order to position itself strongly within Nigeria’s evolving banking landscape. The proposed capital raise is…
Heirs Energies has restated its dedication to unlocking value in Nigeria’s oil and gas industry, underscoring its strategic role in shaping the country’s energy future. The company, one of the leading integrated energy firms in Africa, emphasized that its long-term vision remains centered on maximizing Nigeria’s vast hydrocarbon resources while aligning with global standards of sustainability and innovation. Speaking at a recent industry engagement, company executives highlighted that Heirs Energies has consistently positioned itself as a forward-looking operator capable of driving efficiency and delivering value across the oil and gas value chain. They noted that Nigeria’s energy landscape is undergoing…
A firm has recently completed the construction of a new terminal designed to significantly cut the costs associated with the evacuation of crude oil. This development marks an important milestone in the oil and gas sector, as it promises to optimize the logistics of crude oil transportation, improve efficiency, and reduce operational expenses for producers and exporters. Crude oil evacuation—the process of moving crude oil from production sites to export terminals or refineries—often involves complex logistics and considerable expenses. These costs include transportation fees, storage charges, delays at ports, and fees related to loading and unloading vessels. The new terminal…
Fidelity Bank Plc celebrated this year’s Children’s Day with an inspiring event focused on promoting literacy, creativity, and educational empowerment among Nigerian youth. Held at the bank’s Fidelity Grounds in Oniru, Lagos, the event brought together hundreds of students, parents, educators, and bank officials in a joyful and engaging atmosphere themed “The Fidelity Fantasyland 3.0.” Central to the celebration was the launch of the Read2Lead Anthology, a collection of essays by young Nigerians, alongside the awarding of scholarships to outstanding pupils. These initiatives underline Fidelity Bank’s sustained commitment to nurturing the next generation through education and creative expression. The Read2Lead…
The Lagos Chamber of Commerce and Industry (LCCI) has set its sights on attracting one million participants to its forthcoming annual trade fair, marking what is expected to be one of the largest and most significant editions of the event in recent years. The chamber, which organizes the Lagos International Trade Fair (LITF), announced that preparations are in top gear, with a focus on creating a platform that not only promotes commerce but also drives innovation, partnerships, and investment opportunities across various sectors of the Nigerian economy. The Lagos International Trade Fair, known as the largest business and trade exhibition…
The Port Harcourt Refining Company (PHRC), one of Nigeria’s key state-owned oil refineries, has recently become the focus of controversy following conflicting reports about its operational status. While the Nigerian National Petroleum Corporation Limited (NNPCL) announced a planned 30-day maintenance shutdown aimed at improving the refinery’s performance, several local fuel marketers have disputed these claims, insisting that no maintenance work is currently taking place. This disagreement has raised broader questions about the management, transparency, and functionality of the refinery, with significant implications for Nigeria’s fuel supply and downstream petroleum sector. The NNPCL, the parent company overseeing PHRC operations, officially…
The Federal Government of Nigeria has officially begun the rollout of Compressed Natural Gas (CNG) buses to federal universities across the country, marking a significant step toward improving transportation within academic institutions while promoting cleaner and more affordable energy solutions. This initiative aligns with the government’s broader objectives of energy transition, environmental sustainability, and economic empowerment, particularly in the transport sector. The launch event took place at the University of Abuja, where the Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, commissioned the first batch of CNG buses and tricycles for use on campus. This pilot phase includes the…
Mastercard has entered into an expanded partnership with Smile ID, a leading pan-African identity verification company, to boost the development of secure and scalable digital identity solutions across the continent. The collaboration is aimed at addressing the growing need for trusted digital identity systems that can foster financial inclusion, combat fraud, and support Africa’s rapidly evolving digital economy. The deal comes at a time when African nations are accelerating digital transformation efforts, with governments, regulators, and private sector stakeholders placing greater emphasis on identity infrastructure to drive economic growth. Mastercard, known globally for its role in advancing digital payments and…
Guaranty Trust Holding Company (GTCO), the parent company of Guaranty Trust Bank, has announced that its total assets have surged to N16.7 trillion, marking one of the most significant asset growths in Nigeria’s financial sector. The new figures reflect the bank’s ability to sustain resilience in a challenging macroeconomic environment, while also underscoring the positive momentum within the Nigerian banking industry as institutions expand their balance sheets despite inflationary pressures, currency fluctuations, and rising operational costs. The achievement comes at a time when banks in Nigeria are navigating multiple headwinds, including high interest rates, regulatory adjustments, and evolving customer needs.…
The Central Bank of Nigeria (CBN) has announced a reduction in interest rates, a move it says is intended to stimulate economic activities and ease borrowing costs for businesses across the country. The development has been welcomed by segments of the private sector, although members of the Organized Private Sector (OPS) insist that the real impact will only be felt if the policy translates into improved access to credit and lower lending rates from commercial banks. The CBN’s latest decision comes against the backdrop of declining inflation, a stabilizing foreign exchange market, and stronger foreign reserves, which have given policymakers…
Unity Bank Plc has reached a major milestone in its restructuring journey as shareholders officially approved its planned merger with Providus Bank Limited. The decision, endorsed at an extraordinary general meeting held in Lagos, marks a new chapter in Nigeria’s banking sector, signaling one of the most significant consolidation moves in recent years. The merger is designed to strengthen Unity Bank’s financial position, enhance operational efficiency, and create a more robust financial institution capable of competing effectively in Nigeria’s increasingly competitive banking landscape. By joining forces with Providus Bank, Unity Bank aims to improve its balance sheet, expand its product…
The Nigerian National Petroleum Company Limited (NNPC) has reported a significant revenue boost, hitting ₦4.65 trillion in August 2025 despite challenges posed by declining crude oil output. The latest figures highlight the resilience of the state-owned energy giant in the face of persistent operational hurdles, including pipeline vandalism, oil theft, and underinvestment that have strained Nigeria’s oil and gas sector for years. According to industry updates, the revenue surge was largely driven by higher crude oil prices in the international market, refined product sales, and improved efficiency in revenue collection across the company’s business arms. Analysts suggest that NNPC’s diversification…