Economy
Japaul Gains 55.91% in One Week After N20bn Gold Refinery News
By Dipo Olowookere
The news of a N20 billion capital raising for the establishment of a gold refinery and the acquisition of mining companies triggered the demand for the shares of Japaul Gold and Ventures Plc on the floor of the Nigerian Exchange (NGX) Limited last week.
Business Post reports that in the five-day trading week, the stock price of the mining organisation increased by 55.91 per cent to N1.98, leading the gainers’ chart.
According to data obtained from the bourse, Japual, FBN Holdings and UBA closed as the most active stocks, selling 1.030 billion units worth N14.138 billion in 5,263 deals, contributing 40.80 per cent and 31.21 per cent to the total trading volume and value, respectively.
In the week, investors transacted 2.525 billion shares worth N45.297 billion in 32,815 deals versus the 2.451 billion shares valued at N40.570 billion traded a week earlier in 37,959 deals.
The financial services industry led the activity chart with 1.677 billion units valued at N28.776 billion in 14,655 deals, contributing 66.44 per cent and 63.53 per cent to the total trading volume and value apiece.
The energy space trailed with 407.350 million shares worth N1.651 billion in 3,273 deals, and the third place was the ICT sector with a turnover of 120.200 million shares worth N7.255 billion in 2,912 deals.
Thirty-seven stocks appreciated in price during the week versus 63 stocks of the previous week, 43 equities depreciated compared with 29 equities a week earlier, and 75 shares closed flat, in contrast to 64 shares of the preceding week.
On the price movement index, RT Briscoe gained 39.53 per cent to finish at 60 Kobo, GlaxoSmithKline rose by 29.44 per cent to N16.05, PZ Cussons grew by 15.00 per cent to N23.00, and Deap Capital expanded by 14.81 per cent to 31 Kobo.
On the flip side, Caverton lost 13.64 per cent to trade at N1.33, The Initiates declined by 10.53 per cent to N1.02, Northern Nigerian Flour Mills fell by 10.00 per cent to N18.00, Multiverse shed 9.38 per cent to N2.90, and Cadbury Nigeria went down by 8.57 per cent to N14.40.
On a week-on-week basis, the All-Share Index (ASI) and the market capitalisation appreciated by 0.93 per cent and 0.95 per cent to close at 70,849.38 points and N38.925 trillion, respectively.
Similarly, all other indices finished higher except insurance, NGX AFR Bank Value, NGX MERI Growth and sovereign bond indices, which fell by 0.53 per cent, 0.68 per cent, 1.40 per cent and 2.25 per cent apiece, while the ASeM index closed flat.
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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