Economy
Unlisted Stocks Investors Pocket N14.87bn Friday
By Adedapo Adesanya
The final trading session of the week on the floor of the NASD Over-the-Counter (OTC) Securities Exchange ended on a positive note with an appreciation of 1.55 per cent buoyed by three companies.
FrieslandCampina WAMCO Nigeria Plc continued being the hot stock as it closed the session higher by N13.72 or 9.1 per cent to sell at N150.85 per unit compared with the previous day’s value of N137.13 per unit.
Another price gainer was NASD Plc, which expanded by 94 kobo or 6.5 per cent to close at N14.50 per share in contrast to N13.56 per share it closed a day earlier, while Central Securities Clearing System (CSCS) Plc improved its share value by 21 kobo or 1.3 per cent to N15.84 per unit from N15.63 per unit.
The gains posted by the trio increased the wealth of unlisted stocks investors as the market capitalisation of the bourse increased by N14.87 billion to N971.52 billion from N956.65 billion, while the NASD Unlisted Securities Index (NSI) grew by 11.31 points to wrap the session at 738.87 points compared with 727.56 points in the previous session.
During the session, there was a 27.4 per cent decline in the volume of securities traded by investors to 1.0 million units from the previous trading day’s 1.4 million units, while the value of transactions increased by 65.2 per cent to N54.9 million from N33.2 million, with the number of deals rising by 33.33 per cent to 28 deals from the preceding session’s 21 deals.
Like it had been in the previous trading days, AG Mortgage Bank Plc was the most active stock by volume on a year-to-date basis with the sale of 2.3 billion units of its stocks for N1.2 billion, followed by CSCS Plc which has sold 660.5 million units valued at N13.8 billion, and NASD Plc, which has traded 43.0 million units worth N462.2 million.
Also, CSCS Plc remained the most traded stock by value on a year-to-date basis with a turnover of 660.2 million units exchanged for N13.8 billion, AG Mortgage Plc was in second place with 2.3 billion units worth N1.2 billion, while FrieslandCampina WAMCO Plc occupied third place with 3.8 million units valued at N484.7 million.
By Aduragbemi Omiyale
Nigeria slightly surpassed its quota set by the Organisation of the Petroleum Exporting Countries (OPEC) in July 2026.
In the month under review, the country produced about 1.57 million barrels of crude oil per day.
It was the third consecutive month Africa’s largest oil-producing nation was meeting its monthly quota, set to stabilise the price of the commodity on the global market by the oil cartel.
Data released by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) on Wednesday showed that the 1.5 million barrels per day ceiling for Nigeria was surpassed last month.
The agency disclosed in a statement today that the country produced 1.505mbpd of crude oil and 0.17mbpd of condensate, bringing the combined daily production to 1.67mbpd.
In the month under review, the daily peak production of crude oil and condensate was 1.78mbpd, while the lowest daily production was 1.57mbpd.
Although Nigeria met its OPEC quota in the month of July, the statistics show that on a month-on-month basis, production fell by 4 per cent.
This was attributed to the decline in production due to operational challenges experienced at the Erha and Akpo fields, which impacted crude oil output during the period under review.
These disruptions constrained production volumes and contributed significantly to the overall reduction in national crude oil output.
Despite the challenges, production operations across most other producing assets remained relatively stable, with operators implementing measures aimed at maintaining production efficiency and minimising the impact of operational constraints, NUPRC stated.
By Aduragbemi Omiyale
The over 9 billion shares of Lasaco Assurance Plc issued to shareholders of the company via a rights issue have been listed on the Nigerian Exchange (NGX) Limited.
The equities were brought to Customs Street on Wednesday by the organisation, increasing its total issued and fully paid-up share capital.
Lasaco Assurance, which scaled the recapitalisation hurdle of the National Insurance Commission (NAICOM) in July 2026, raised fresh capital from the capital market to shore up its capital base.
The underwriting firm got about N18.5 billion from the rights issue, which involved the issuance of 9,236,321,546 ordinary shares at a unit price of N2.00.
The exercise was on the basis of five new ordinary shares for every existing six ordinary shares held as of the close of business on Friday, February 20, 2026.
Confirming the listing of the additional stocks of Lasaco Assurance today, the Head of Issuer Regulation Department of NGX RegCo, Mr Godstime Iwenekhai, announced in a circular that, “Trading licence holders are hereby notified that an additional 9,236,321,546 ordinary shares of 50 Kobo each of Lasaco Assurance Plc were today, Wednesday, August 12, 2026, listed on the daily official list of Nigerian Exchange Limited.
“The additional shares arose from the company’s rights issue of 9,236,321,546 ordinary shares of 50 Kobo each at N2.00 per share on the basis of five new ordinary shares for every existing six ordinary shares held as of the close of business on Friday, February 20, 2026.
“With the listing of the additional 9,236,321,546 ordinary shares, the total issued and fully paid-up share capital of Lasaco Assurance Plc has now increased from 11,083,585,855 to 20,319,907,401 ordinary shares of 50 Kobo each.”
By Adedapo Adesanya
The Nigerian Insurers Association (NIA) has said the successful recapitalisation of the insurance industry will strengthen the sector’s ability to support financial stability and economic growth.
NIA Chairman, Mrs Ebelechukwu Nwachukwu, said a well-capitalised insurance industry would be better positioned to meet its obligations promptly, underwrite complex and large-scale risks and serve as a dependable pillar of the Nigerian economy.
She made the remarks while commending the National Insurance Commission (NAICOM) for its structured implementation of the new minimum capital requirements under the Nigerian Insurance Industry Reform Act (NIIRA) 2025.
Mrs Nwachukwu said NAICOM’s clear guidelines, systematic verification process, defined timelines and rigorous supervision had provided operators with a credible framework for navigating the recapitalisation exercise.
She described the outcome as a major milestone for the industry and congratulated the 43 insurance and reinsurance companies that have successfully met the prescribed minimum capital requirements.
According to her, the exercise represents “a major win not just for regulators and operators, but for policyholders, investors and the wider Nigerian economy.”
Mrs Nwachukwu said the association would continue to work with NAICOM and other stakeholders to consolidate the gains of the exercise, with emphasis on sustainable industry growth, stronger market conduct and improved consumer confidence.
The official also expressed solidarity with the eight companies still undergoing final verification and regulatory review, urging them to remain confident as NAICOM completes the process within the 14-day review period.
The NIA chairman assured policyholders and the wider business community that the insurance industry would emerge from the recapitalisation exercise stronger, more resilient and better positioned to contribute to Nigeria’s economic development.
