Economy
Growth Stocks on NGX Rise 41.63% Amid Strong Corporate Earnings
By Aduragbemi Omiyale
Last year, growth stocks listed on Nigerian Exchange (NGX) Limited appreciated by 41.63 per cent amid improved local investor sentiment and strong corporate earnings.
Addressing investors, analysts and other stock market stakeholders at the NGX 2022 Market Recap and 2023 Outlook last Wednesday, the chief executive of the bourse, Mr Temi Popoola, said the growth index outperformed other indices during the year under review.
According to him, energy equities appreciated in 2022 by 34.05 per cent due to sustained high oil prices and demand in the downstream oil sector, boosting corporate earnings.
He further said the NGX Main Board Index grew by 33.18 per cent on the back of the landmark listing of BUA Foods Plc and the pioneer power sector listing of Geregu Power Plc, which both added over N1 trillion in market capitalisation to the exchange.
“The total turnover of trades in 2022 improved by 27 per cent from N916 billion to N1.16 trillion year-on-year from 2021.
“Market participation was heavily skewed to the domestic investors. Along with other factors, this signalled a good year for the Exchange despite global macroeconomic headwinds,” Mr Popoola said at the event held in collaboration with EFG Hermes.
Speaking further, Mr Popoola said, “On strategic partnerships, we will be forging more with development finance institutions, banks, both local and international, to develop the market further.
“We aim to do more on trading where we improve data dissemination to attract a larger investor base, especially from the retail side.
“We will be using listings as a vehicle for meeting strategic aspirations as the new dispensation comes in through increased advocacy and engagements.”
The CEO also added that the exchange would be increasingly focused on sustainability, noting that, “NGX sees sustainability as not just important but also a profitable frontier of its business, and work is ongoing on developing a framework for certifications in carbon credits trading, pending regulatory approval.
“On the capital market’s digital transformation, the exchange is working on USSD launch in collaboration with telcos and banks, unlocking the African capital markets via payment integration with Afrexim Bank’s Pan African Payment Settlement System.”
In his remarks, the Head of Strategy at EFG Hermes, Mr Simon Kitchen, stated that a major policy shift was needed to catalyse further interest in Nigerian stocks, of which he gave a unified exchange rate and credible fiscal and monetary policies as examples, advising investors to shop for dividend yields in bluechip stocks that offered strong dividend growth.
By Aduragbemi Omiyale
The pre-registration training and examination for capital market operators (CMOs) for the second quarter of 2026 has been postponed.
Business Post gathered that the new date for the exercise is now Monday, June 15, 2026.
This information was disclosed by the Securities and Exchange Commission (SEC) through a circular on Monday, June 8, 2026.
The Nigerian capital market regulator stated that this postponement has also resulted in the extension of the deadline for registration to Friday, June 12, 2026.
In the notice today, the SEC expressed its regret for the inconvenience this action may cause operators, who had prepared for the initial date of the training and examination.
“Further to the recent circular on Q2 2026 Pre-registration Training and Examination, the Securities and Exchange Commission (SEC) hereby informs all eligible applicants for the Q2 2026 Pre-registration Training and Examination that the commencement date has been postponed to Monday, June 15, 2026.
“Registration on the designated portal has also been extended to Friday, June 12, 2026. All other conditions contained in the circular remain unchanged.
“The commission regrets any inconvenience this postponement may cause and appreciates the understanding of all applicants,” the disclosure noted.
By Aduragbemi Omiyale
One of the leading healthcare firms in Nigeria, Fidson Healthcare Plc, has listed additional shares on the Nigerian Exchange (NGX) Limited.
The new stocks absorbed into the stock market were 600 million units, raising the total issued and fully paid-up shares of Fidson to 3,000,000,000 ordinary shares of 50 Kobo each from 2,400,000,000 ordinary shares of 50 Kobo each.
The fresh equities came from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share.
They were issued to existing investors on the basis of one new ordinary share for every existing four ordinary shares held as of the close of business on Wednesday, November 12, 2025.
Confirming the development, the regulator in a notice said, “Trading licence holders are hereby notified that an additional 600,000,000 ordinary shares of 50 Kobo each of Fidson Healthcare Plc were on Tuesday, June 2, 2026, listed on the daily official list of Nigerian Exchange Limited.
“The additional shares arose from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share on the basis of one new ordinary share for every existing four ordinary shares held as at the close of business on Wednesday, November 12, 2025.
“With the listing of the additional 600,000,000 ordinary shares, the total issued and fully paid-up shares of Fidson Healthcare Plc have now increased from 2,400,000,000 to 3,000,000,000 ordinary shares of 50 Kobo each.”
By Modupe Gbadeyanka
This news will surely excite local contractors with verified claims of N100 million or less, as the federal government has approved their payments.
This approval for the disbursement was given by the Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele.
This followed a verification and reconciliation exercise designed to ensure only validated claims qualify for payment.
The beneficiaries cover contractors across multiple ministries, departments and agencies. The release of the funds is expected to enable contractors to return to project sites, pay workers, settle suppliers and meet outstanding financial commitments.
In an announcement on Monday, the Federal Ministry of Finance also said this latest batch of payments would ease liquidity pressure on small businesses and accelerate economic activity nationwide.
It was noted that the payments for verified claims of N100 million below were strategically done to spread economic impact broadly rather than concentrate disbursements among a handful of large firms.
The payments form part of a broader push to clear inherited contractor obligations, with over N700 billion verified in recent months.
“For many beneficiaries, the release of funds represents more than a financial transaction. It provides the certainty needed to sustain operations, preserve jobs, complete ongoing projects, and contribute to economic recovery and growth,” the ministry said in a statement.
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