By Dipo Olowookere

A 2.33 per cent surge recorded by the Nigerian Exchange (NGX) Limited on Monday pushed its year-to-date (YtD) gain to 60.97 per cent.

This means that the local stock market has gained over 60 per cent this year. This performance has been triggered by a strong appetite for domestic equities, especially from investors with hot money.

Yesterday, the All-Share Index (ASI) rose by 5,705.59 points to 250,481.42 points from 244,775.83 points, and the market capitalisation expanded by N3.160 trillion to N160.254 trillion from N157.094 trillion.

Business Post observed that all the key sectors of the bourse ended in green, with the banking index growing by 4.67 per cent. The industrial goods space increased by 4.32 per cent, the consumer goods counter improved by 0.74 per cent, the insurance sector advanced by 0.59 per cent, and the energy segment soared by 0.03 per cent.

Investor sentiment was bullish as Customs Street ended with 57 price gainers and 21 price losers, implying a positive market breadth index.

The quintet of Livestock Feeds, Integrated Energy Insurance, RT Briscoe, FTN Cocoa, and Union Homes REIT chalked up 10.00 per cent each to sell for N8.80, N2.86, N16.50, N9.13, and N77.00, respectively.

On the flip side, Prestige Assurance lost 10.00 per cent to quite at N1.44, University Press declined by 9.09 per cent to N4.00, Tantalizers slumped by 7.69 per cent to N4.20, NPF Microfinance Bank crashed by 6.25 per cent to N6.00, and Mutual Benefits went down by 5.72 per cent to N4.12.

During the session, market participants traded 1.5 billion equities worth N68.5 billion in 94,834 deals versus the 1.1 billion equities valued at N55.0 billion transacted in 69,996 deals last Friday, indicating a rise in the trading volume, value, and number of deals by 36.36 per cent, 24.55 per cent, and 35.49 per cent, respectively.

At the close of transactions, Veritas Kapital was the busiest stock with a turnover of 194.6 million units valued at N299.1 million. Access Holdings sold 172.1 million units for N4.2 billion, First Holdco exchanged 132.0 million units worth N9.8 billion, FCMB traded 123.9 million units valued at N1.4 billion, and Champion Breweries transacted 83.0 million units worth N1.3 billion.

By Adedapo Adesanya

Total inflows into the Nigerian Autonomous Foreign Exchange Market (NAFEM) fell sharply in April 2026 as geopolitical tensions and weaker participation from both domestic and foreign investors impacted liquidity in the FX market.

Data from the FMDQ Securities Exchange showed that total foreign exchange inflows declined by 30.1 per cent month-on-month to $2.86 billion in April, down from $4.09 billion recorded in March.

The decline was driven by reduced inflows from the Central Bank of Nigeria (CBN), exporters, importers, foreign portfolio investors and non-bank corporates, reflecting growing investor caution amid rising tensions in the Middle East and uncertainty surrounding the US-Iran conflict.

Local inflows, which accounted for 42.8 per cent of total market inflows, dropped by 38.7 per cent to $1.22 billion from $2.00 billion in March.

The steepest decline came from the CBN, whose interventions in the market fell by 83 per cent month-on-month. Inflows from exporters and importers declined by 19.3 per cent, non-bank corporates by 18.2 per cent, while inflows from individuals fell by 33.3 per cent.

Foreign inflows, which contributed 57.2 per cent of the total, also weakened by 21.9 per cent to $1.63 billion compared to $2.09 billion in March.

A breakdown of the foreign component showed that foreign portfolio investment (FPI) inflows dropped by 17.8 per cent, foreign direct investment (FDI) plunged by 78.9 per cent, while inflows from other corporates declined by 54.6 per cent.

Despite the drop in inflows, the local currency posted a modest gain against the US Dollar during the week, appreciating by 1.2 per cent to close at N1,360/$1, supported largely by offshore investor inflows that helped offset domestic demand pressures.

However, the local currency ended the week slightly weaker at the official market, depreciating by 0.22 per cent to N,361.40 per Dollar while gaining 44 basis points at the parallel market to close at N1,363.15/$1.

In the forwards market, the Naira strengthened across all tenors, with the one-month contract appreciating by 1.2 per cent to N1,384.53 to the Dollar, the three-month contract by 1.2 per cent to N1,424.08/$1, the six-month contract by 1.3 per cent to N1,478.39/$1, and the one-year contract by 1.5 per cent to N1,586.56/$1.

Nigeria’s gross external reserves continued their downward trend, declining by $40 million to $48.33 billion as of May 7, 2026. This marked the eighth consecutive week of decline, attributed to sustained CBN interventions, debt service obligations, subdued oil receipts and foreign capital outflows.

Meanwhile, crude oil prices rose in the international market as renewed hostilities between the US and Iran in the Strait of Hormuz raised concerns over potential supply disruptions.

Brent Crude gained 1.2 per cent to $101.30 per barrel while the US West Texas Intermediate (WTI) rose 0.5 per cent to $95.28 per barrel.

By Adedapo Adesanya

Renaissance Africa Energy Company Limited has unveiled plans to increase crude oil production to 500,000 barrels per day by 2030, while simultaneously expanding healthcare investments across its host communities in Rivers State.

The company, which operates the NNPC/Renaissance/TotalEnergies/AENR Joint Venture, disclosed this during the launch of its four-day Vision First Plus healthcare outreach programme in B-Dere community, Gokana Local Government Area in Rivers State, where thousands of residents received free eye surgeries, cancer screening, dental care, and treatment for chronic ailments.

Vice President, Relations and Sustainable Development, Renaissance Africa Energy Company Limited, Mr Igo Weli, said the company’s growth strategy combines energy production with sustained investment in community wellbeing.

“Renaissance is helping Nigeria reclaim production momentum, boosting national crude output by over 200,000 barrels per day and delivering 1.9 billion cubic feet of gas daily to Bonny NLNG within our first year of operations,” Weli stated.

“Our ambition to reach 500,000 barrels per day by 2030 is anchored not just in volume but in value; value for the economy, value for people, and value for the planet.”

Last year, Renaissance acquired the joint venture onshore assets under Shell Petroleum Development Company (SPDC), making it Nigeria’s biggest upstream operator by asset portfolio and installed capacity.

Mr Weli, represented by the General Manager, Health Renaissance, Mr Akinwumi Fajola, noted that the healthcare outreach reflects Renaissance’s commitment to sustainable development in host communities, stressing that access to quality healthcare should not be treated as a privilege.

“At Renaissance, our purpose is clear; to stand with our communities, invest in people, and create opportunities for healthy and thriving lives,” he said.

“Vision First Plus reflects our belief that access to quality and affordable healthcare is not a privilege, but a shared responsibility.”

According to Mr Weli, the programme was designed to take healthcare directly to underserved communities rather than waiting for residents to visit hospitals and clinics.

“We have designed Health in Motion to take essential healthcare services beyond the walls of hospitals and clinics, delivering care directly to the communities where and when it is most needed,” he said.

The outreach includes eye surgeries, eye screening and consultation, distribution of reading glasses, dental services, mammography, cryotherapy for cancer screening, cardiovascular checks, laboratory services, treatment of chronic and minor ailments, deworming, and insecticide-treated mosquito nets.

Mr Weli disclosed that the company also trained community-based health volunteers known as “Vision Finders” to identify people suffering from visual impairments and connect them to treatment.

“This is not just a health intervention. It is an act of empowerment; investing in people, building local capacity, and ensuring that the work we started together does not end when we leave,” he added.

Representing the Chief Upstream Investment Officer of NNPC Upstream Investment Management Services (NUIMS), Mrs Nkechi Anaedobe, said the joint venture remained focused on improving living conditions in host communities.

“Even though we do exploration and production, it’s important for us as companies that we work on the sustainability path of our lives in the host community,” she said.

Mrs Anaedobe revealed that the programme is expected to exceed its initial target of 5,000 beneficiaries.

“We had over 5,000 as our target, and we’re on track to not only meet that but surpass it as well,” she added.