Economy
Dangote Cement Restores Sanity to Stock Market by 0.78%
By Dipo Olowookere
Sanity was restored to the Nigerian Stock Exchange (NSE) on Thursday, thanks to Dangote Cement and six other equities, which closed green.
The seven stocks halted the eighth-day losing streak on the exchange yesterday with a 0.78 per cent growth boosted by the industrial goods sector, which grew by 2.57 per cent and ended the session as the lone gainer.
Profit-taking persisted in the other sectors as the banking sector lost 2.98 per cent, the insurance counter dropped 2.93 per cent, the energy space fell by 0.90 per cent, while the consumer goods index declined by 0.32 per cent.
However, the performance of the industrial goods space led by Dangote Cement overpowered the threats of the bears and boosted the All-Share Index (ASI) by 318.29 points to 41,014.30 points from 40,696.01 points and then pushed the market capitalisation higher by N166 billion to N21.456 trillion from N21.290 trillion.
Business Post reports that Dangote Cement appreciated during the session by 7.04 per cent to settle at N228 per share, while Mutual Benefits Assurance grew by 5.41 per cent to end at 39 kobo per unit.
Furthermore, Sovereign Trust Insurance gained 3.70 per cent to finish at 28 kobo per share, Vitafoam rose by 3.33 per cent to sell for N9.30 per unit, while Unilever Nigeria moved up by 2.57 per cent to trade at N13.95 per share.
On the flip side, Linkage Assurance and Livestock Feeds topped the losers’ list of 46 members with a price depreciation of 10.00 per cent each to close at 54 kobo per unit and N2.25 per share respectively.
NAHCO slipped by 9.96 per cent to trade at N2.08 per unit, Northern Nigerian Flour Mills went down by 9.88 per cent to settle at N7.02 per share, while Portland Paints fell by 9.84 per cent to close at N2.84 per unit.
At the market yesterday, the level of activity improved as investors traded 1.3 billion stocks worth N6.4 billion in 6,573 deals compared with the previous day’s 366.9 million shares worth N5.5 billion traded in 5,718 deals.
This signified that the number of shares increased by 247.40 per cent, while the value of the equities grew by 16.68 per cent, with the number of deals rising by 14.95 per cent.
Business Post observed that the significantly high trading volume was buoyed by Livingtrust Mortgage Bank, which transacted 796.6 million units valued at N493.8 million.
Transcorp traded 55.8 million shares worth N50.5 million, FBN Holdings sold 51.9 million equities valued at N364.5 million, UBA exchanged 48.8 million stocks for N380.2 million, while Zenith Bank traded 37.1 million stocks worth N885.3 million.
By Adedapo Adesanya
Oil traded lower on Wednesday after US President Donald Trump eased fears of disruptions to Iranian supplies, indicating that killings in Iran’s crackdown on civil unrest were subsiding.
Yesterday, the price of Brent futures declined by 92 cents or 1.41 per cent to $64.55 per barrel while the US West Texas Intermediate (WTI) futures slipped 96 or 1.57 per cent to $60.19 a barrel.
Prices had risen on fears of Iranian supply disruptions due to a potential US attack on Iran and possible retaliation against US regional interests.
President Trump said on Wednesday afternoon he had been told that killings in Iran’s crackdown on nationwide protests were subsiding and he believed there was currently no plan for large-scale executions.
Still, tensions between Iran and the US remained high after Iran had warned US allies in the Middle East it would strike American bases on their soil if the US attacked it. The US began evacuating military personnel from a key Qatar air base on Wednesday.
While markets may have cooled somewhat on the back of President Trump’s comments, protests in Iran have persisted, and there remains plenty of uncertainty over what might come next.
Market analysts noted that continued protests in Iran risk tightening global oil balances through near-term supply losses, but mainly through rising geopolitical risk premium.
However, this remains somewhat minimal as the protests had not spread to the main Iranian oil-producing areas, which had limited the effect on actual supply.
Also supporting oil prices, Federal Reserve Bank of Minneapolis President Neel Kashkari said on Wednesday he was optimistic about the economic outlook and expected inflation to ease.
It is also looking increasingly likely that Venezuela’s oil supply is set to return to markets, with the US completing its first sale of Venezuelan oil on Wednesday.
Two supertankers departed Venezuelan waters on Monday with about 1.8 million barrels each of crude in what may be the first shipments of a 50 million-barrel supply deal between Venezuela and the US to get exports moving again following the capture of Venezuelan President Nicolas Maduro.
Crude oil inventories in the US increased by 3.4 million barrels during the week ending January 14, according to new data from the US Energy Information Administration (EIA) released on Wednesday.
The EIA’s data release follows figures by the American Petroleum Institute (API) that were released a day earlier, which suggested that crude oil inventories grew by 5.27 million barrels.
By Adedapo Adesanya
TotalEnergies EP Nigeria has signed a Sale and Purchase Agreement with Vaaris for the divestment of its 10 per cent non-operated interest in the Renaissance JV licences in Nigeria.
The Renaissance JV, formerly known as the SPDC JV, is an unincorporated joint venture between Nigerian National Petroleum Company Limited (55 per cent), Renaissance Africa Energy Company Ltd (30 per cent, operator), TotalEnergies EP Nigeria (10 per cent) and Agip Energy and Natural Resources Nigeria (5 per cent), which holds 18 licences in the Niger Delta.
In a statement by TotalEnergies on Wednesday, it was stated that under the agreement signed with Vaaris, TotalEnergies EP Nigeria will sell its 10 per cent participating interest and all its rights and obligations in 15 licences of Renaissance JV, which are producing mainly oil.
Production from these licences, it was said, represented approximately 16,000 barrels equivalent per day in company’s share in 2025.
The agreement also stated that TotalEnergies EP Nigeria will also transfer to Vaaris its 10 per cent participating interest in the three other licences of Renaissance JV which are producing mainly gas, namely OML 23, OML 28 and OML 77, while TotalEnergies will retain full economic interest in these licences, which currently account for 50 per cent of Nigeria LNG gas supply.
Business Post reports that the conclusion of the deal is subject to customary conditions, including regulatory approvals.
“TotalEnergies EP Nigeria has signed a Sale and Purchase Agreement with Vaaris for the sale of its 10 per cent non-operated interest in the Renaissance JV licences in Nigeria.
“Under the agreement signed with Vaaris, TotalEnergies EP Nigeria will sell to Vaaris its 10 per cent participating interest and all its rights and obligations in 15 licences of Renaissance JV, which are producing mainly oil. Production from these licences represented approximately 16,000 barrels equivalent per day in the company’s share in 2025.
“TotalEnergies EP Nigeria will also transfer to Vaaris its 10 per cent participating interest in the 3 other licenses of Renaissance JV, which are producing mainly gas (OML 23, OML 28 and OML 77), while TotalEnergies will retain full economic interest in these licenses, which currently account for 50 per cent of Nigeria LNG gas supply. Closing is subject to customary conditions, including regulatory approvals,” the statement reads in part.
The development is part of TotalEnergies’ strategies to dump more assets to lighten its books and debt.
By Aduragbemi Omiyale
The trading licence of Monument Securities and Finance Limited has been revoked by the regulatory arm of the Nigerian Exchange (NGX) Group Plc.
Known as NGX Regulations Limited (NGX Regco), the regulator said it took back the operating licence of the organisation after it shut down its operations.
The revocation of the licence was approved by Regulation and New Business Committee (RNBC) at its meeting held on September 24, 2025, a notice from the signed by the Head of Market Regulations at the agency, Chinedu Akamaka, said.
“This is to formally notify all trading license holders that the board of NGX Regulation Limited (NGX RegCo) has approved the decision of the Regulation and New Business Committee (RNBC)” in respect of Monument Securities and Finance Limited, a part of the disclosure stated.
Monument Securities and Finance Limited was earlier licensed to assist clients with the trading of stocks in the Nigerian capital market.
However, with the latest development, the firm is no longer authorised to perform this function.
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