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Economy

First Trading Session in 2022 on NGX Closes 0.73% Higher

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ATS Training NGX

By Dipo Olowookere

The first trading session in 2022 on the Nigerian Exchange (NGX) Limited closed positive on Tuesday, January 4, despite a negative investor sentiment.

Business Post reports that the market closed with 27 price losers and 18 price gainers led by Academy Press, which appreciated by 10.00 per cent to 55 kobo.

Wema Bank grew by 9.72 per cent to trade at 79 kobo, Cornerstone Insurance rose by 8.70 per cent to 50 kobo, Neimeth improved by 8.00 per cent to N1.89, while BUA Cement gained 7.31 per cent to close at N71.95.

Conversely, the trio of Ardova, Northern Nigerian Flour Mill and Vitafoam lost 10.00 per cent each to settle at N11.70, N7.20 and N20.25 respectively, while Chams depreciated by 9.09 per cent to 20 kobo, with Sunu Assurances losing 8.89 per cent to trade at 41 kobo.

However, when the market closed for the day, the All-Share Index (ASI) was up by 309.79 points to settle at 43,026.23 points compared with the previous 42,716.44 points, while the market capitalisation grew by 3.98 per cent or N1.9 trillion to N23.184 trillion from N21.297 trillion.

The industrial goods and banking sectors appreciated during the session by 2.97 per cent and 0.39 per cent respectively, while the consumer goods, energy and insurance counters went down by 0.92 per cent, 0.50 per cent and 0.43 per cent apiece.

A further look at the market data showed that the trading volume went down by 52.41 per cent to 216.7 million from 455.2 million, the trading value fell by 84.67 per cent to N1.5 billion from N9.9 billion, while the number of deals rose by 44.22 per cent to 4,080 deals from 2,829 deals.

Chams ended the day as the most traded stock with the sale of 29.9 million equities valued at N6.1 million as Wema Bank transacted 17.1 million stocks worth N13.3 million to claim the next post.

Zenith Bank exchanged 11.0 million shares for N278.2 million, Transcorp traded 10.8 million stocks valued at N10.5 million, while Sovereign Trust Insurance transacted 10.5 million equities for N2.9 million.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via dipo.olowookere@businesspost.ng

Economy

Dangote Acquires Permits, Land for Sugar Refinery in Ghana

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By Aduragbemi Omiyale

Africa’s richest man, Mr Aliko Dangote, has taken a significant step to reduce the annual sugar import bill of Ghana by $162 million with the establishment of a sugar refinery in the country.

The sugar milling project is to be sited in Kwame-Danso, Bono Region under the West African nation’s ambitious One District, One Factory (1D1F) initiative.

All the required permits as well as land for the massive project have been secured and the next step should be the commencement of the factory, according to Mr Dangote in a post on a LinkedIn.

Business Post reports that the Dangote Sugar Refinery Ghana will have the capacity to crush 12,000 tonnes of sugarcane daily, and an irrigation infrastructure spanning 25,000 hectares of farmland, with production lines for sugar, molasses, and ethanol.

“We’re thrilled to announce the launch of a major agro-industrial project in Kwame-Danso, Bono Region: Dangote Sugar Refinery,” the Nigerian businessman said, describing the venture as “a new chapter” in Ghana’s economic journey.

“With land secured and necessary permits obtained, we’re moving forward with the support of Ghana’s ‘One District, One Factory’ initiative.

“This project tackles Ghana’s $162 million sugar import bill while fostering a sustainable, homegrown solution.

“At Dangote, we envision more than just a factory. We see a catalyst for economic independence, job creation, and transformative impact across Africa. Join us in shaping the continent’s future,” he stated.

When completed, the project is expected to boost the revenue of Dangote Sugar Refinery Plc, an entity listed on the Nigerian Exchange (NGX) Limited.

Recall that in the 2024 financial year, the sugar refiner grew its turnover by 51 per cent to N665.6 billion from N441.5 billion a year earlier, with the earnings per share (EPS) rising to N15.80 from N6.00 in 2023.

Mr Dangote has consistently assured the company would build a sustainable business, target the production of 1.5 million metric tonnes of refined sugar annually and at the same time generate over 75,000 employment opportunities in its value chain.

Also, the chief executive of Dangote Sugar, Ravindra Singh Singhvi, reiterated the company’s goal of achieving self-sufficiency in sugar production for Nigeria, with a target of producing 700,000 tonnes of sugar locally within the next five years.

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Economy

NASD OTC Exchange Gains 0.63% in 18th Trading Week of 2025

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By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange rose by 0.63 per cent in Week 18 of the 2025 trading year, supported by gains posted by five stocks on the platform.

Just like in the previous week, there were four trading days last week due to the Workers’ Day holiday, and over these days, investors carried out 130 deals in 19 stocks.

Data indicated that the value of transactions went down by 98.9 per cent to N105.9 million from the preceding week’s N9.9 billion and the volume of trades shrank by 99.6 per cent to 14.5 million units from 3.9 billion units in the previous week.

The most active stock by value in the week was FrieslandCampina Wamco Nigeria Plc with N70.7 million, Afriland Properties Plc recorded N13.6 million, Geo-Fluids Plc traded N13.0 million, Capital Hotels Plc posted N6.0 million, and IPWA Plc reported N2.0 million.

Geo-Fluids Plc was the most traded stock by volume with 6.4 million units, IPWA Plc transacted 4.0 million units, FrieslandCampina Wamco Nigeria Plc recorded 1.9 million, Capital Hotels Plc traded 1.2 million units, and Afriland Properties Plc exchanged 0.902 million units.

The NASD Unlisted Security Index (NSI) added 20.60 points to settle at 3,289.66 points compared with the 3,269.06 points recorded in the preceding trading week, and the bourse’s market capitalisation gained N12.07 billion to close at N1.926 trillion compared with the N1.914 trillion posted the previous week.

FrieslandCampina Wamco Nigeria Plc improved by 13.1 per cent to N40.00 per unit from N35.37 per unit, Geo-Fluids Plc appreciated by 11.1 per cent to N2.00 per share from N1.80 per share, Food Concepts Plc grew by 10.3 per cent to N1.29 per unit from N1.17 per unit, Lagos Building Investment Company (LBIC) Plc jumped by 10.00 per cent to N3.08 per share from N2.80 per share, and UBN Property Plc increased by 4.8 per cent to N2.20 per unit from N2.10 per unit.

On the flip side, Afriland Properties Plc dropped 10 per cent to end at N16.00 per share compared with the preceding week’s N17.78 per share. IPWA Plc dipped by 9.1 per cent to 50 Kobo per unit from 55 Kobo per unit, Acorn Petroleum Plc lost 5.9 per cent to close at N1.10 per share versus N1.17 per share, and Mass Telecomm Innovation Plc shed 2.4 per cent to finish at 40 Kobo per unit versus 41 Kobo per unit.

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Economy

ABC Transport, 51 Others Drive Nigerian Exchange’s 0.27% w-o-w Growth

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Nigerian Exchange Limited

By Dipo Olowookere

The Nigerian Exchange (NGX) Limited expanded by 0.27 per cent on a week-on-week basis last week, driven by gains recorded by 52 stocks, led by ABC Transport.

The notable transport and logistics firm posted a 44.87 per cent surge in its share price in the four-day trading week, closing at N2.26.

Legend Internet appreciated by 32.40 per cent to N9.03, Fidson rose by 22.85 per cent to N22.85, University Press jumped by 20.88 per cent to N4.11, and NAHCO flew by 20.17 per cent to N82.50.

On the flip side, Ecobank lost 18.75 per cent to sell at N26.00, Multiverse declined by 18.59 per cent to N6.35, Livestock Feeds crashed by 10.63 per cent to N8.49, Aradel Holdings slipped by 9.86 per cent to N448.00, and Tripple Gee depreciated by 9.60 per cent to N1.79.

Business Post reports that 52 shares gained weight in the week versus 64 shares a week earlier, 37 stocks depreciated versus 27 stocks in the previous week, and 59 equities closed flat versus 57 equities in the preceding week.

The All-Share Index (ASI) and the market capitalisation improved by 0.27 per cent and 0.28 per cent each to 106,042.57 points and N66.648 trillion, respectively.

Similarly, all other indices finished higher apart from the banking, insurance, AFR Bank Value, MERI Value, energy, Lotus II, sovereign bond and commodity indices, which depreciated by 0.38 per cent, 2.89 per cent, 0.04 per cent, 2.08 per cent, 2.90 per cent, 0.01 per cent, 0.19 per cent and 1.12 per cent, respectively.

The market operated for four days last week because of the public holiday observed on Thursday for the 2025 Workers’ Day celebration.

Despite this, Customs Street witnessed a higher turnover compared with the preceding trading week, as investors bought and sold 2.200 billion shares worth N75.409 billion in 70,329 deals versus the 1.854 billion shares valued at N56.025 billion traded in 51,386 deals a week earlier.

The financial services sector led the activity chart with 1.432 billion equities valued at N30.908 billion in 33,095 deals, contributing 65.09 per cent and 40.99 per cent to the total trading volume and value, respectively, as the ICT industry transacted 230.248 million shares worth N27.453 billion in 4,811 deals, and the consumer goods space sold 166.345 million stocks for N4.708 billion in 8,284 deals.

Fidelity Bank, Access Holdings, and UBA transacted 704.639 million units worth N16.757 billion in 10,466 deals, accounting for 32.03 per cent and 22.22 per cent of the total trading volume and value, respectively.

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