By Dipo Olowookere

The trio of Access Holdings, Wema Bank, and Guaranty Trust Holding Company (GTCO) contributed 33.45 per cent and 32.54 per cent to the total trading volume and value, respectively, of the Nigerian Exchange (NGX) Limited last week, with the sale of 1.124 billion units worth N49.451 billion in 27,886 deals.

The market opened for four trading days in the week due to the public holiday observed last Monday for Easter.

The bourse recorded a turnover of 3.361 billion shares valued at N151.948 billion in 229,442 deals compared with the 2.856 billion shares worth N113.597 billion traded a week earlier in 215,287 deals.

Analysis showed that financial equities led the activity chart with 2.303 billion units sold for N90.467 billion in 98,175 deals, accounting for 68.54 per cent and 59.54 per cent of the total trading volume and value, respectively.

Services shares transacted 264.146 million units worth N1.977 billion in 12,638 deals, and ICT stocks traded 214.578 million units valued at N9.791 billion in 28,183 deals.

Business Post reports that 25 equities appreciated in the week versus 29 equities in the previous week, while 54 stocks depreciated versus 57 stocks of the preceding week, and 67 shares closed flat versus 62 stocks of the previous week.

Trans-Nationwide Express gained 32.75 per cent to close at N3.77, NGX Group appreciated by 13.94 per cent to N188.00, GTCO rose by 10.66 per cent to N135.00, NASCON expanded by 9.52 per cent to N161.00, and Guinness Nigeria grew by 9.38 per cent to N462.90.

On the flip side, DAAR Communications lost 21.47 per cent to finish at N1.50, RT Briscoe shrank by 20.00 per cent to N8.40, Deap Capital declined by 16.81 per cent to N5.00, Ellah Lakes went down by 16.67 per cent to N10.00, and Japaul crashed by 16.29 per cent to N2.93.

At the close of business for the week, the All-Share Index (ASI) was up on a week-on-week basis by 1.03 per cent to 203,770.43 points, and the market capitalisation soared by 1.05 per cent to N131.166 trillion.

Also, all other indices finished higher except the insurance and growth sectors, which fell by 3.64 per cent and 1.82 per cent apiece.

By Adedapo Adesanya

The Minister of State for Industry, Mr John Enoh, has tasked the Dangote Sugar Refinery to reach a production capacity of 600,000 metric tonnes (MT) per annum by 2030.

Speaking during a recent visit to the company’s complex in Numan, Adamawa State, Mr Enoh, who was accompanied by the Executive Secretary of the National Sugar Development Council, (NSDC), Mr Kamar Bakrinv, said he was at the sugar refiner as part of ongoing inspections of sugar projects nationwide, in line with President Bola Tinubu’s directive to accelerate Nigeria’s attainment of self-sufficiency in sugar production.

He said the country’s annual sugar consumption stood at about 1.8 million metric tonnes, far above current local production levels, noting that as a leading operator in the sector, Dangote Sugar must contribute significantly to bridging the supply gap.

“DSR is a very big player in the industry. Our circumstances in this sector will continue to depend on what DSR does.

“The company must deliver at least 600,000 metric tonnes annually by 2030 and sustain the output thereafter,” he said.

He commended the council for its role in driving the implementation of the Nigeria Sugar Master Plan, noting that collaboration among stakeholders remained critical.

“I have lost count of the number of times Mr President has spoken about the development of the sugar industry at Federal Executive Council (FEC) meetings,” he said.

The Minister described the infrastructure and level of investment at the Numan facility as evidence of commitment to the Backward Integration Programme.

He, however, stressed the need to accelerate efforts to meet national targets, assuring that the government will support operators to overcome existing challenges.

“We are aware that there are issues, including access to affordable long-term finance. Government is ready to work with stakeholders to address them,” he said.

Mr Enoh added that scaling up production was essential to meeting national expectations and reducing dependence on imports.

He said the programme had created employment opportunities and added value through local processing of sugarcane.

On his part, the Vice President of the Dangote Group, Mr Olakunle Alake, assured the minister of the company’s commitment to expand production capacity.

He said the firm would invest more resources to meet the 600,000 metric tonnes target by 2030.

The minister and his team inspected the new 6,000 tonnes-per-day factory expansion site, as well as harvest fields, mills and processing facilities during the visit.

The inspection also covered haulage systems, boilers, turbines and sugar bagging operations at the warehouse.

The NSMP was launched to achieve self-sufficiency, reduce reliance on imported sugar, and bridge the massive gap between local production and the national consumption rate of approximately 1.8 million metric tonnes annually.

By Adedapo Adesanya

The Minister of State for Finance, Mr Taiwo Oyedele, has denied admitting errors in Nigeria’s new tax laws, describing the reports as “misleading” and a false misrepresentation.

In a Sunday statement, attributed to the Presidential Fiscal Policy and Tax Reforms Committee and posted on Mr Oyedele’s official X handle, the reports were described as an unhelpful twisted narrative that risks distorting public understanding and misleading the very people the reforms were designed to benefit.

“Our attention has been drawn to misleading media reports claiming that the Minister of State for Finance, Mr Taiwo Oyedele, has ‘finally admitted errors in the new tax laws.’

“These publications misrepresent the Minister’s statements, falsely alleging that he urged Nigerians to await the outcome of a legislative probe, a process that has long been concluded and the gazetted copies certified by the National Assembly [have been] published since early January 2026.

“This twisted narrative is unhelpful as it risks distorting public understanding and misleading the very people the reforms were designed to benefit,” the statement read.

The committee explained that the minister, while speaking at a fireside chat during the Nigerian Bar Association Section on Legal Practice conference in Lagos, highlighted early gains from the tax reforms.

According to the statement, the gains highlighted by the Minister included a significant increase in the number of informal businesses seeking registration with the Corporate Affairs Commission, as well as a rise in the number of registered taxpayers from about 10 million to over 100 million nationwide.

These impressive results stem from the robust design and progressive nature of the new laws, including an exemption of small companies from tax, increased exemption thresholds for low-income earners, tax exemptions on basic consumption items like food, education, healthcare, transportation, and rent, and the introduction of the Tax Ombud to protect taxpayer rights, it stated.

The statement added, “The Minister contrasted the transformative changes in the new laws with the regressive provisions in the old laws. He, however, emphasised that no law is perfect.

“Therefore, ongoing stakeholder engagement is essential to identify and address any errors or gaps for appropriate legislative updates through Finance Bills as part of a continuous improvement process.”