Economy
Crude Oil Rises on Trade Deal Signing Expectations
By Adedapo Adesanya
Prices of crude oil at the global market increased on Tuesday after five consecutive days of losses. The gains posted yesterday was helped by the optimism of a signing of phase one of a trade deal between the United States and China today.
The market, which had fallen as Middle East tensions eased, picked up on Tuesday as the two world’s largest economies get set to sign the first phase of a trade deal that put aside an 18-month trade war that affected world economy.
At Tuesday night, the Brent crude gained 41 cents or 0.64 percent to trade at $64.61 per barrel, while the US West Texas Intermediate crude futures rose 25 cents or 0.43 percent to tradeat $58.33 per barrel.
The signing will mark a major step in ending a dispute that has cut global growth and dented demand for oil, affecting key economies especially oil dependent nations like Nigeria.
Investors will also be banking on this and any development that can push prices up, but the major lookout is for the trade signing expected to take place in Washington DC.
The trade deal details, which are not yet fully disclosed, may see China buy more than $50 billion in energy supplies from the United States over the next two years.
It is expected that the deal may also include an expansion of US food, agriculture and seafood product exports as well as an agreement by China to end its long-standing practice of forcing or pressuring foreign companies to transfer their technologies to Chinese companies.
However, data showed that despite the trade dispute between the country and the United States, China’s crude oil imports in 2019 rose 9.5 percent from the previous year, setting a record for a 17th straight year as demand growth from new refineries propelled purchases by the world’s top importer.
Prices were supported by expected drops in crude oil inventories which reportedly may have declined by 0.8 million barrels last week, January 10. The poll was conducted ahead of original data expected from the American Petroleum Institute (API), an industry group, on Tuesday, and the Energy Information Administration (EIA) on Wednesday.
Prices are expected to keep up the trend into Wednesday when the signing will take place between Chinese Vice Premier, Liu He and President Donald Trump of the United States.
Economy
NGX Group’s 65th Annual General Meeting Holds April 29
By Aduragbemi Omiyale
The 65th Annual General Meeting (AGM) of the Nigerian Exchange (NGX) Group Plc has been fixed for Wednesday, April 29, 2026, at 11:00 am at its corporate head office on 2–4 Customs Street, Lagos.
Business Post gathered that the meeting would be streamed live on the company’s website and social media platforms to enable broader participation by shareholders and stakeholders unable to attend physically.
As part of a special business, shareholders will consider a proposed bonus issue of one new ordinary share for every three existing shares held as at the close of business on April 10, 2026, subject to regulatory approvals.
The proposal also includes an increase in the organisation’s share capital from N1,102,309,954 to N1,469,746,605, to accommodate the bonus shares and amendments to the Memorandum of Association to reflect the new capital structure.
Also at the gathering, shareholders will consider and, if deemed fit, approve the company’s audited financial statements for the year ended December 31, 2025, alongside the reports of the directors, auditors, board evaluation consultants, and audit committee.
The meeting will also deliberate on the declaration of a final dividend and the re-election of three non-executive directors retiring by rotation, who are Mr Umaru Kwairanga, Mrs Ojinika Olaghere, and Dr Okechukwu Itanyi.
Other ordinary business items on the agenda include authorising the board to fix the remuneration of the external auditors, determining the remuneration of managers, and electing members of the statutory audit committee.
Economy
BNB Price Reflects Changing Dynamics in the Digital Asset Market
Economy
NASD Unlisted Security Index Crosses 4,000-point Benchmark Again
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange achieved a milestone on Friday, April 24, 2026, after five securities on the platform helped with a 1.85 per cent growth.
Data showed that the NASD Unlisted Security Index (NSI) again crossed the 4,000-point benchmark yesterday.
The index chalked up 73.64 points during the trading day to close at 4,052.59 points compared with the preceding session’s 3,978.95 points, while the market capitalisation added N5.38 billion to finish at N2.424 trillion versus Thursday’s closing value of N2.380 trillion.
The price gainers were led by Okitipupa Plc, which grew by N25.00 to sell at N305.00 per share compared with the previous price of N280.00 per share. Central Securities Clearing System (CSCS) Plc gained N6.92 to close at N76.26 per unit versus N69.34 per unit, Afriland Properties Plc appreciated by N1.00 to N17.00 per share from N18.00 per share, FrieslandCampina Wamco Nigeria Plc improved by 55 Kobo to N99.55 per unit from N99.00 per unit, and Food Concepts Plc increased by 5 Kobo to N2.70 per share from N2.65 per share.
However, there was a price loser, MRS Oil, which dipped by N21.75 to N195.75 per unit from N217.50 per unit.
During the final session of the week, the value of securities jumped 75.2 per cent to N41.3 million from N23.6 million units, and the number of deals expanded by 62.9 per cent to 44 deals from 27 deals, while the volume of securities declined marginally by 0.9 per cent to 447,403 units from 451,522 units.
At the close of trades, Great Nigeria Insurance (GNI) Plc was the most traded stock by volume (year-to-date) with 3.4 billion units worth N8.4 billion, trailed by Resourcery Plc with 1.1 billion units valued at N415.7 million, and Infrastructure Guarantee Credit Plc with 400 million units traded for N1.2 billion.
GNI was also the most active stock by value (year-to-date) with 3.4 billion units sold for N8.4 billion, followed by CSCS Plc with 59.6 million units transacted for N4.0 billion, and Okitipupa Plc with 27.8 million units exchanged for N1.9 billion.
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