Economy
27 Stocks Sink Nigerian Stock Market by 0.68% in One Week
By Dipo Olowookere
The Nigerian stock market was bearish last week as it depreciated by 0.68 per cent in the five-day trading week, thanks to 27 equities, which suffered losses at the close of business, though lower than 49 stocks in the preceding week.
The poor performance recorded by the Nigerian Exchange (NGX) Limited weakened the All-Share Index (ASI) and market capitalisation to 41,882.97 points and N21.854 trillion respectively.
Data from the exchange showed that all other indices finished higher with the exception of NGX 30, NGX premium, Lotus II and industrial goods indices, which depreciated by 0.54 per cent, 2.25 per cent, 1.31 per cent and 5.42 per cent respectively, while the ASeM, AFR Div Yield, and sovereign bond indices closed flat.
Business Post reports that 35 equities appreciated in price during the week, higher than 18 equities in the previous week, while 94 equities remained unchanged higher than 89 equities recorded in the previous week.
Unity Bank recorded the heaviest fall with 15.69 per cent to sell for 43 kobo, Dangote Cement dropped 10.00 per cent to N252.00, Linkage Assurance decreased by 8.93 per cent to 51 kobo, ABC Transport lost 8.82 per cent to trade at 31 kobo, while May & Baker shed 8.69 per cent to N4.10.
On the flip side, Meyer gained 50.00 per cent to trade at 33 kobo, Consolidated Hallmark Insurance rose by 25.00 per cent to 55 kobo, Academy Press grew by 20.51 per cent to 47 kobo, UPDC appreciated by 19.19 per cent to N1.18, while Royal Exchange jumped by 13.21 per cent to 60 kobo.
On the activity chart, a total of 2.6 billion shares worth N26.9 billion were traded in the week in 20,848 deals as against the 1.3 billion shares valued at N17.3 billion transacted a week earlier in 21,052 deals.
From these transactions, financial stocks accounted for 2.2 billion units worth N21.5 billion in 11,482 deals, contributing 84.95 per cent and 79.73 per cent to the total trading volume and value respectively.
The services stocks followed with 157.1 million units worth N695.8 million in 465 deals, while consumer goods equities traded 71.0 million units worth N1.7 billion in 3,019 deals.
The trio of FBN Holdings, Sterling Bank and C & I Leasing accounted for 1.6 billion shares worth N14.751 billion in 1,646 deals in the week, contributing 61.13 per cent and 54.84 per cent to the total trading volume and value respectively.
By Adedapo Adesanya
The Nigeria Customs Service (NCS) is seeking a reduction in import duty exemptions, which rose to N34 trillion, limiting its ability to increase its revenue generation threshold.
The Comptroller-General of the Customs Service, Mr Adewale Adeniyi, disclosed that the value of import duty exemption certificate approvals increased to that level in 2025, describing the policy as one of the major factors restricting its revenue generation.
At an investigative session of the Senate Committee on Finance with revenue-generating agencies in Abuja on Monday, Mr Adeniyi explained that government fiscal policies have continued to impact the revenue-generating capacity of the Customs Service, both positively and negatively.
“The NCS would have generated significantly higher revenue over the years if not for government-approved import duty waivers and other external factors affecting collections,” he said.
He added that the Import Duty Exemption Certificate scheme, introduced in March 2020, accounted for about N34 trillion in approvals in 2025, with nearly 60 per cent covering duty-free importation of military hardware due to Nigeria’s prevailing security challenges.
Other government-backed duty waivers, he noted, covered the importation of Compressed Natural Gas (CNG), electric and hybrid vehicles, healthcare equipment and medical supplies, industrial machinery and manufacturing inputs, as well as food import intervention programmes.
While acknowledging the impact of the waivers on Customs revenue, Mr Adeniyi argued that fiscal policy should not be assessed solely on the basis of revenue generation but also on its broader economic and social objectives.
He, however, urged the federal government to establish stronger monitoring mechanisms to ensure beneficiaries of duty waivers deliver the intended economic outcomes, including lower consumer prices, increased local production and improved healthcare access.
The committee also expressed displeasure over the absence of several heads of government agencies invited to the hearing, including the Nigerian Civil Aviation Authority (NCAA), Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Industrial Training Fund (ITF), and the Federal Medical Centre (FMC), Jabi.
The Chairman of the Senate Committee on Finance, Mr Sani Musa, warned that the affected chief executives must appear at the committee’s next sitting or face severe sanctions under the Senate’s rules.
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By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange rose by 0.40 per cent on Monday, July 13, buoyed by buying interest in 11 Plc, Central Securities Clearing System (CSCS) Plc and UBN Property Plc, which offset the profit-taking in Food Concepts Plc, the parent company of Chicken Republic.
11 Plc gained N20.69 to end at N227.64 per share compared with last Friday’s price of N206.95 per share, CSCS Plc grew by N1.83 to N91.48 per unit from N89.65 per unit, and UBN Property Plc added 1 Kobo to sell at N1.81 per share versus N1.80 per share.
On the flip side, Food Concepts Plc depreciated by 24 Kobo to close at N2.45 per unit, in contrast to the preceding session’s N2.69 per unit.
As a result, the market capitalisation increased by N9.2 billion to N2.587 trillion from N2.578 trillion, and the NASD Security Index (NSI) improved by 15.33 points to 4,311.67 points from 4,296.34 points.
Yesterday, the volume of securities traded by investors surged by 615.9 per cent to 9.1 million units from the previous 1.3 million units, and the value of securities rose by 997.1 per cent to N320.4 million from the preceding session’s N29.2 million, while the number of deals decreased by 12.5 per cent to 28 deals from last Friday’s 32 deals.
At the close of trades, Great Nigeria Insurance (GNI) Plc remained the most active stock by value on a year-to-date basis, with 3.4 billion units valued at N8.4 billion, followed by Infrastructure Credit Guarantee (Infracredit) Plc with 2.3 billion units worth N6.5 billion, and CSCS Plc with 73.9 million units exchanged for N5.2 billion.
GNI Plc also closed the session as the most traded stock by volume on a year-to-date basis, with 3.4 billion units sold for N8.4 billion, followed by Infracredit Plc with 2.3 billion units traded for N6.5 billion, and Resourcery Plc with 1.1 billion units transacted for N415.7 million.
