Economy
Champion Breweries Maintains Upward Trajectory, Rises 59.49% in One Week
By Dipo Olowookere
The positive performance witnessed lately around the shares of Champion Breweries Plc continued last week with a price appreciation of 59.49 per cent. During the five-day trading session, the brewer closed at N3.11 per unit compared with N1.95 per unit it finished the earlier week.
This upward trajectory was sustained on the back of the demand for the shares of the company, following information that its major shareholder, Heineken International, which also controls a larger stake in Nigerian Breweries, increased its control in the firm with the purchase of N5 billion stocks.
This has pushed the appetite for the company’s equities higher because of what Heineken could transform the organisation into.
Also last week, news of the federal government putting down N10 billion for the manufacturer of COVID-19 vaccines in Nigeria triggered buying pressure on Fidson and May & Baker, pushing the value of their respective stock higher by 30.11 per cent and 27.40 per cent to N6.05 per share and N4.65 per share.
In the week, Portland Paints grew by 20.69 per cent to settle at N3.50 per unit, while Julius Berger appreciated by 19.84 per cent to close at N22.65 per unit.
At the close of transactions, a total of 41 equities appreciated in price, lower than 53 equities in the previous week.
Business Post reports that there were price losers in the week; 34, higher than 29 equities in the previous week.
Leading the chart was Veritas Kapital Assurance, which fell by 28.57 per cent to end at 20 kobo per share, Sovereign Trust Insurance went down by 21.21 per cent to settle at 26 kobo per share, Academy Press lost 17.50 per cent to close at 33 kobo per unit, Niger Insurance depreciated by 14.81 per cent to finish at 23 kobo per unit, while Universal Insurance dropped 13.04 per cent to trade at 20 kobo per unit.
When trading activities were wrapped up for the week, the All-Share Index (ASI) and the market capitalisation of the Nigerian Stock Exchange (NSE) appreciated by 3.442 per cent respectively to close the week at 42,412.66 points and N22.187 trillion.
Similarly, all other indices finished higher with the exception of the oil/gas, which depreciated by 7.25 per cent while the ASeM and Growth indices closed flat.
A total of 2.6 billion shares worth N27.9 billion in 31,466 deals were traded by investors on the floor of the exchange, in contrast to a total of 4.3 billion shares valued at N26.0 billion that exchanged hands in 32,849 deals.
The financial services industry led the activity chart with 1.5 billion shares valued at N12.7 billion traded in 14,324, contributing 58.22 per cent and 45.53 per cent to the total equity turnover volume and value respectively.
The conglomerates followed with 363.3 million shares worth N821.4 million in 1,722 deals, while consumer goods recorded a turnover of 220.8 million shares worth N4.0 billion in 5,952 deals.
Trading in Transcorp, Union Bank and Zenith Bank accounted for 633.3 million shares worth N5.6 billion in 3,947 deals, contributing 24.64 per cent and 20.20 per cent to the total equity turnover volume and value respectively.
By Adedapo Adesanya
The National Insurance Commission (NAICOM) has said the passage of the National Insurance Regulatory Commission Bill by the Senate will unlock greater investment in Nigeria by strengthening regulatory oversight, enhancing investor confidence and creating a more transparent and accountable insurance industry.
Describing the development as a significant milestone in efforts to strengthen the regulatory framework of Nigeria’s insurance industry, the commission particularly praised the leadership of the Senate and the Chairman of the Senate Committee on Banking, Insurance and Other Financial Institutions, Mr Adetokunbo Mukail Abiru, for their roles in securing the successful passage of the Bill in the Red Chamber.
According to NAICOM, the proposed legislation will enhance regulatory oversight, improve transparency and accountability, and boost public confidence in the insurance sector.
The commission said the bill is expected to attract greater investment into the industry, promote sustainable growth, and deliver benefits to policyholders, insurance operators, and the wider economy.
NAICOM also noted that the Senate’s commitment to advancing reforms in the insurance sector would support the modernisation of insurance regulation and strengthen financial inclusion across the country.
It added that the passage of the Bill reflects the legislature’s resolve to protect the interests of citizens while promoting the stability of Nigeria’s financial system.
The Commission reaffirmed its readiness to ensure the effective implementation of the new legal framework once the Bill receives presidential assent, pledging continued collaboration with industry stakeholders to position the insurance sector as a key driver of national economic development.
Earlier this week, the Senate passed the much-anticipated bill to repeal and re-enact the law establishing the National Insurance Commission (NAICOM), paving the way for the regulatory agency to be renamed the Insurance Regulatory Commission (IRC).
The legislation, titled the Insurance Regulatory Commission (Establishment) Bill, 2026, was passed after the Senate considered and adopted the report of its committee on banking, insurance and other financial institutions.
According to lawmakers, the outgoing National Insurance Commission Act 1997 is outdated and does not adequately address the emerging economic growth, needs and development of the country’s insurance business and projections.
By Aduragbemi Omiyale
About $2.5 billion has been raised by Dangote Petroleum Refinery and Petrochemicals FZE (DPRP) from its private equity placement.
The exercise, Business Post learned, attracted broad participation from international and African institutional investors, sovereign-related investment vehicles, development finance institutions, strategic partners, and individual investors.
Notable participants included the Africa Finance Corporation (AFC) and India Infra Buildco, an investment vehicle facilitated by the African Export-Import Bank (Afreximbank), reflecting deep and diversified confidence in DPRP’s long-term prospects.
The transaction is believed to be Africa’s largest publicly disclosed primary equity private placement, marking a significant milestone in the history of the organisation and demonstrating strong investor confidence in the refinery’s long-term growth strategy, including raising its current capacity from 700,000 barrels per day to 1.4 million barrels per day.
The capital raise is the first equity funding round involving external investors beyond the company’s legacy shareholder base, underscoring the growing attractiveness of DPRP as a world-class energy and industrial enterprise. The strong investor response further reinforces confidence in the company’s vision and its ability to deliver sustainable value over the long term.
The proceeds from the placement will be deployed to support the continued expansion of the refinery and petrochemical complex, strengthen the company’s capital structure, and enhance financial flexibility to pursue future growth opportunities.
With the successful completion of the placement, DPRP is well-positioned to accelerate its long-term growth strategy while strengthening Africa’s energy security through world-scale refining and petrochemical capacity.
“This transaction represents a strategic step to deepen and further institutionalise the Enterprise’s shareholder base, while raising capital to complement our internal cash flows and external funding as DPRP advances its expansion agenda.
“It also demonstrates our unwavering commitment to developing Africa’s refining and petrochemical capacity, reducing dependence on imported petroleum products and strengthening the continent’s energy security,” the chief executive of Dangote Industries Limited and Chairman of DPRP, Mr Aliko Dangote, stated.
Also, the chief executive of Dangote Petroleum Refinery, Mr David Bird, said the overwhelming investor response validates the company’s operational performance and growth outlook.
“The exceptional demand we witnessed is a testament to our operational excellence, execution capability and the confidence investors have in DPRP’s leadership and future potential,” he remarked.
By Aduragbemi Omiyale
Shareholders of Transcorp Plc should expect their phones to buzz with bank alerts very soon, as the board has proposed the payment of an interim dividend of 40 Kobo per share for the first half of the 2026 fiscal year.
The company announced the cash reward payment to investors in the unaudited financial statements submitted to the Nigerian Exchange (NGX) Limited.
The interim dividend would be paid on Tuesday, July 28, 2026, subject to appropriate withholding tax deduction and to shareholders whose names appear in the Register of Members as of the close of business on Thursday, July 23, 2026.
Analysis of the results showed that the conglomerate delivered a strong revenue and profit performance, with improved margins and ratios notwithstanding challenges in the operating environment.
The performance was driven by the organisation’s disciplined cost management and operational efficiency, underpinned by a resilient business strategy and solid corporate governance ethos.
In the period under review, the power sector was impacted by gas supply constraints, as well as grid-related challenges, which saw a reduction in the overall power supply in the country.
Similarly, the hospitality business continues to innovate and leverage its assets to deliver superior service excellence.
These challenges impacted Transcorp’s earnings, which contracted to N241.5 billion in the first half of this year from N279.0 billion in the corresponding period of 2025, while profit after tax moderated to N54.4 billion from N65.2 billion in H1 2025.
“These results reflect the quality of the underlying business and resilience of the group’s earnings. Despite a lower revenue base arising from sector-wide power infrastructure constraints, we expanded our profit-before-tax margin to 31.4 per cent, from 30.7 per cent in the prior period, a direct result of disciplined cost optimisation and operational efficiency across our businesses.
“Our financial position remains strong, with a robust equity base which grew to N367.8 billion by half-year 2026. Our strength is hinged on the diversified earnings capability from key sectors, including the hospitality business, which grew its profit after tax by 21 per cent. This financial foundation gives us the confidence to protect and grow long-term value for our shareholders as operating conditions normalise,” the Chief Financial Officer of Transcorp, Mr Festus Izevbizua, stated.
Also, the chief executive of the firm, Mr Owen Omogiafo, said, “Despite disruptions to power transmission infrastructure and a challenging macroeconomic environment, Transcorp delivered a strong profit and an even stronger balance sheet, a reflection of our operational discipline and efficiency.
“At Transcorp Group, our operations are driven by our purpose to improve lives and transform Africa. We continue to create impact in the sectors that matter most to Nigeria’s future, and that same conviction continues to guide us through every phase of the cycle.
“Despite the constrained grid infrastructure seen in the first half of the year, we forged ahead, engaging with strategic partners to deliver much-needed power to Nigerians.
“Through our 5,000-capacity, multi-purpose event facility, Transcorp Centre, and our flagship 1,000-key Transcorp Hilton Abuja, we have continued to make the Federal Capital Territory the preferred location for business and leisure.
“Our strategy is clear, our balance sheet is robust, and our confidence in the value we are creating for our shareholders remains firm.”
