Economy
Stock Market Gains N140bn as Trading Volume Rises 146.19%
By Dipo Olowookere
Transactions at the Nigerian Stock Exchange (NSE) further ended bullish on Wednesday with a 0.76 per cent growth.
Investors showed renewed interest in the stock market, especially in shares in the consumer goods, banking and insurance sectors, resulting in the 3.78 per cent growth, 1.86 per cent rise and 1.63 per cent jump in their respective indices, while selloffs were witnessed in the energy and industrial goods counters, causing 0.33 per cent decline and 0.17 per cent fall in their respective indices.
However, the poor performance of the two sectors did not affect the All-Share Index (ASI), which increased at the midweek session by 267.93 points to 35,493.15 points from 35,225.22 points, while the market capitalisation went up by N140 billion to settle at N18.551 trillion in contrast to N18.411 trillion it ended on Tuesday.
Business Post reports that the trading volume rose significantly yesterday by 146.19 per cent following the 650.5 million shares traded by market participants in contrast to the 264.2 million shares transacted the previous session.
However, there was a 22.39 per cent in the trading value to N2.3 billion from the N3.0 billion achieved a day earlier and a 9.23 per cent drop in the number of deals to 3,952 deals from 4,354 per cent.
It was observed that the huge increase in the trading volume on Wednesday was buoyed by the 415.0 million units of Jaiz Bank worth N217.0 million transacted at the session, emerging as the most stock.
Axa Mansard traded 22.3 million shares for N17.2 million, Zenith Bank exchanged 19.3 million equities valued at N472.7 million, SAHCO transacted 19.0 million stocks for N50.6 million, while Access Bank transacted 15.8 million shares valued at N130.4 million.
The market breadth further closed positive at the midweek session with 26 price gainers as against the 13 price losers recorded, indicating a positive investor sentiment.
Nestle Nigeria was the highest price riser as a result of the N105 added to its equity value, closing at N1505 per unit and was trailed by Flour Mills, which gained N1.80 to close at N26.50 per share.
Zenith Bank appreciated by 60 kobo to sell at N24.10 per unit, Guinness Nigeria gained 60 kobo to finish at N18.60 per share, while GTBank chalked up 40 kobo to end at N33.95 per unit.
On the flip side, Lafarge Africa suffered the heaviest loss with a price depreciation of 50 kobo to close at N22 per unit.
United Capital went down by 14 kobo to N4.40 per share, Dangote Sugar declined by 10 kobo to N17.90 per unit, Oando depreciated by 10 kobo to N2.80 per share, while Northern Nigerian Flour Mills decreased by 7 kobo to N6.13 per share.
By Aduragbemi Omiyale
The Global Banking and Finance Review has named Stanbic IBTC Capital, a subsidiary of Stanbic IBTC Holdings, as the Best Investment Bank in Nigeria for 2026.
The leading financial publication picked Stanbic IBTC Capital for the honour in recognition of its commitment to leadership and excellence in Nigeria’s investment banking sector.
The selection process involves an extensive evaluation of performance across critical metrics, including innovation, client service, financial health, and industry advancement.
Stanbic IBTC Capital’s accolade reflects its strong dedication to delivering capital markets and financial advisory solutions for clients in both the public and private sectors.
The firm has made significant strides in facilitating groundbreaking transactions, offering market-leading expertise in equity, debt, and structured finance, while nurturing the growth ambitions of businesses and institutions across Nigeria.
“We are truly pleased to be acknowledged for our relentless pursuit of excellence in the investment banking arena.
“This honour reflects our commitment to hard work and further establishes the deep trust our clients have in our expertise and service.
“It further motivates us to maintain our dedication to exceptional service, cultivate impactful partnerships, and continue delivering innovative financial solutions that meet our clients’ aspirations,” the chief executive of Stanbic IBTC Capital, Mr Oladele Sotubo, stated.
The Executive Director of Corporate and Transaction Banking at Stanbic IBTC Bank, Mr Eric Fajemisin, on his part, said, “Receiving this esteemed acknowledgement from the Global Banking and Finance Review Awards underscores our commitment to driving innovation and excellence within Nigeria’s investment banking landscape.
“This accolade highlights the significant role our skilled team plays in fostering economic growth and stability.
“We are dedicated to delivering exceptional value to our clients, which not only supports their financial success but also contributes to the broader development of the nation’s financial ecosystem.”
The Global Banking and Finance Review annually celebrates institutions that demonstrate quality, innovation, and contributions to the advancement of banking and financial services worldwide.
Now in its 16th edition, the awards honour organisations that uphold outstanding service standards, strategic execution, and industry leadership.
By Aduragbemi Omiyale
The Governor of Rivers State, Mr Siminalayi Fubara, has presented the 2026 Appropriation Bill to the Rivers State House of Assembly.
The 2026 budget estimate of N1.85 trillion, christened Budget of Resilience for Growth and Development, was presented to the state parliament on Friday.
Mr Fubara stated that the proposed spending for the 2026 fiscal year represents a 24.49 per cent increase over the adjusted 2025 budget, driven by anticipated growth in Federation Account Allocation Committee (FAAC) allocations, derivation revenue and internally generated revenue.
He informed the lawmakers that the state hopes to earn N487.61 billion from internally generated revenue, N936.05 billion from FAAC allocations, derivation funds, Value Added Tax (VAT) and exchange gains, and N382.48 billion from capital receipts, including loans, grants and asset sales.
According to him, N413.11 billion is for recurrent expenditure and N1.405 trillion for capital projects, underscoring his administration’s commitment to accelerating development across the state.
He added that personnel costs would gulp N154.77 billion, while N15.22 billion would fund new recruitments, stating that the budget also provides for pensions, gratuities, death benefits and debt servicing.
Governor Fubara further proposed a 50 per cent increase in overhead expenditure for Ministries, Departments and Agencies (MDAs) to strengthen their operational capacity immediately after the budget is signed into law.
He also stated that the largest allocation under the capital budget is the Works and Infrastructure sector with N533.32 billion, followed by Education with N315 billion and Healthcare with N105.43 billion.
In addition, N41.44 billion is for the Rivers State House of Assembly, N30 billion for the Judiciary, N19.26 billion for Agriculture, N15 billion for Power, N8.5 billion for Chieftaincy and Community Development, N7.98 billion for Sports, N7 billion for Youth Development, N6.5 billion for Women Affairs, and N6.61 billion for Environment and Sustainable Development.
The Governor noted that the budget was designed to sustain economic growth, expand critical infrastructure and improve the welfare of residents, pointing out that it builds on the achievements of his administration despite the challenges experienced by the state.
According to him, the budget prioritises the completion of ongoing road projects, new infrastructure investments, improved education and healthcare services, job creation and expanded economic opportunities for residents.
Describing the proposal as a people-centred budget, he assured Rivers people that every public fund would be judiciously utilised to deliver quality services, attract investment and stimulate inclusive development.
Mr Fubara acknowledged the delayed presentation of the budget and appealed to members of the House of Assembly to give the appropriation bill speedy consideration and passage to facilitate timely implementation.
In his remarks, the Speaker of the Rivers State House of Assembly, Mr Martin Amaewhule, acknowledged that the 2026 Appropriation Bill was presented later than expected but assured the Governor that the legislature would expedite its consideration in the interest of the people of Rivers State.
By Adedapo Adesanya
The Securities and Exchange Commission (SEC) has unveiled plans to make sustainability reporting mandatory for large public interest entities from 2027.
This comes as Nigeria moves to align its corporate disclosure framework with global environmental, social and governance (ESG) reporting standards.
The phased implementation will begin with voluntary adoption by early adopters and large public interest entities before becoming mandatory in 2027. The requirement will extend to other public interest entities in 2028 and small and medium-scale enterprises (SMEs) by 2030.
The Director-General of the SEC, Mr Emomotimi Agama, disclosed this at the 2026 Financial Institutions Training Centre (FITC) Sustainability and ESG Conference 3.0, themed ‘Building a Sustainable Africa: Integrating Environmental Stewardship, Social Investment, and Strong Governance for a Prosperous Future’ in Lagos.
Mr Agama said Nigeria’s sustainability disclosure regime is being aligned with the International Sustainability Standards Board (ISSB) framework, including IFRS S1 and IFRS S2, which have emerged as the global benchmark for sustainability reporting.
He said that institutional investors increasingly consider ESG performance a key determinant of capital allocation rather than a peripheral corporate responsibility issue, noting that the price of entry is disclosure.
He said the reforms would strengthen investor confidence and position Nigerian businesses to access global capital markets, where sustainability disclosures are becoming an essential investment requirement.
According to him, Nigeria’s capital market has recorded significant expansion, with market capitalisation growing from about N130 trillion to nearly N160 trillion following recent market reforms, while assets under management have surpassed N9 trillion.
To deepen sustainable finance, Agama said the commission was promoting infrastructure, green and municipal bonds, alongside infrastructure-focused investment funds, to mobilise long-term capital for critical national projects.
He added that the commission would also encourage investments in the blue economy and support financing for the power sector through green energy bonds, project bonds and public-private investment structures.
The SEC chief cited the recent launch of the Nigerian Exchange (NGX) Impact Board as another milestone in advancing sustainable finance and urged companies, regulators and investors to move beyond commitments by embedding sustainability into governance, operations and investment decisions.
