Economy
Investors Trade N22.828bn Stocks in One Week
By Dipo Olowookere
Last week, investors at the Nigerian Exchange (NGX) Limited traded 2.973 billion shares worth N22.828 billion in 23,765 deals compared with the 14.029 billion shares worth N59.007 billion traded in 24,048 deals in the preceding week.
Data showed that during the four-day trading week, stocks in the financial services sector reclaimed their position as the most active after selling 1.458 billion units valued at N14.082 billion in 13,115 deals, accounting for 49.04 per cent and 61.69 per cent of the total trading volume and value, respectively.
Equities in the conglomerates industry slipped to second after exchanging 1.254 billion units worth N3.123 billion in 1,662 deals due to ease in the demand for Transcorp, which had been investors’ toast because of the interest shown by Mr Femi Otedola.
The third place was the consumer goods space, which posted a turnover of 71.425 million shares worth N1.468 billion executed in 3,177 deals.
When trading activities were wrapped up, Transcorp, Access Holdings and Fidelity Bank topped the chart for trading 2.074 billion stocks valued at N11.297 billion in 5,966 deals, contributing 69.76 per cent and 49.49 per cent to the total trading volume and value, respectively.
Business Post reports that 51 equities appreciated in price in the week compared with 49 equities in the previous week, 26 stocks depreciated in price as against 17 stocks a week earlier, while 79 shares closed flat versus 90 shares in the preceding week.
CWG was the best-performing stock last week as it gained 25.71 per cent to end at N1.32, Academy Press rose by 20.00 per cent to N1.74, Wema Bank improved by 16.58 per cent to N4.43, Ardova chalked up 14.63 per cent to trade at N19.20, and Multiverse grew by 11.51 per cent to N3.10.
The worst-performing stock for the week was Transcorp due to the 30.96 per cent loss it printed to finish at N1.94, McNichols shed 17.72 per cent to 65 Kobo, Geregu Power fell by 10.00 per cent to N290.70, Living Trust Mortgage Bank went down by 9.73 per cent to N2.69, and GlaxoSmithKline declined by 8.73 per cent to N5.75.
In the week, the stock market gained 0.12 per cent after the All-Share Index (ASI) and the market capitalisation closed higher at 52,465.31 points and N28.568 trillion, respectively.
Similarly, all other indices finished higher except the NGX Main Board, NGX 30, MERI Growth, and NGX Growth, which depreciated by 0.61 per cent, 0.32 per cent, 0.62 per cent, and 8.96 per cent apiece, while the ASeM and sovereign bond indices closed flat.
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.
