Economy
NASD Investors Transact N14.2m Stocks in 16 Deals
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange extended its gains on Tuesday following an improvement in the level of activity, which made the market to close 0.41 per cent higher.
This increased the market capitalisation by N2.16 billion to N524.35 billion from N522.19 billion it closed on Monday.
Equally, the positive performance of the market yesterday further boosted the NASD Unlisted Security Index (NSI) by 2.93 points to 713.82 points from the 710.89 points recorded at the previous session.
Business Post reports that market participants executed 16 deals yesterday compared with the 13 deals of Monday, representing a 23.1 per cent rise.
A breakdown of the trades showed that CSCS Plc executed seven deals, FrieslandCampina WAMCO Nigeria Plc did five deals, UBN Properties Plc had two deals, while Afriland Properties Plc and Niger Delta Exploration and Production Plc recorded one deal each.
During the trading day, the total number of securities transacted by investors at the session increased by 3,809.8 per cent to 5.3 million units from the last session’s 134,723 units.
In addition, the value of transactions appreciated by 154.7 per cent during the session as securities worth N14.2 million exchanged hands in contrast to the previous day’s N5.6 million.
On the price movement board, Central Securities Clearing Systems (CSCS) Plc dominated the gainers’ side, adding 51 kobo to its share price to close at N14.41 per share versus N13.90 per share it was previously sold, while Afriland Properties Plc gained 6 kobo to close at N2.20 per share as against N2.14 per share it traded a day earlier.
There were stocks on the losers’ log and was led by FrieslandCampina WAMCO Nigeria Plc, which lost 26 kobo to close at N121.04 per share versus the previous price of N121.30 per share, while UBN Properties shed 4 kobo to trade at N1.40 per share versus N1.44 per share of the previous day.
At the close of business yesterday, ARM Life Plc was the most active stock by the traded volume of shares (year-to-date), exchanging 7.4 billion units of its stocks worth N4.6 billion. CSCS was in second place with 197.2 million units worth N2.6 billion, while Food Concept Plc held the third position with 125 million units of its shares worth N88 million.
Also, ARM Life Plc finished as the most active stock by value (year-to-date), trading 7.4 billion units of its securities for N4.6 billion. CSCS Plc followed with 197.2 million units exchanged for N2.6 billion, while NDEP Plc was in third place with 7.9 million units of its securities sold for N2.4 billion.
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.
