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Local Stocks Attract N20.221bn in Five Days as 22 Equities Appreciate

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22 equities appreciate

By Dipo Olowookere

Last week, investors transacted 1.023 billion shares worth N20.221 billion in 18,650 deals compared with the 1.910 billion shares valued at N18.436 billion traded in 20,311 deals a week earlier.

This was as the 22 equities appreciated in price, lower than the 53 equities on the gainers’ chart in the preceding week due to profit-taking.

Business Post reports that the losers’ chart had 41 stocks compared with 21 stocks the previous week, while 94 shares remained unchanged versus 83 shares in the previous week.

Julius Berger was the highest price gainer as it grew by 10.00 per cent to N26.95, Trans-Nationwide Express rose by 9.88 per cent to 89 Kobo, International Energy Insurance improved by 8.33 per cent to N1.30, UAC Nigeria inflated by 8.24 per cent to N9.20, and Transcorp chalked up 7.81 per cent to close at N1.38.

Conversely, MRS Oil recorded the heaviest decline after it shed 18.99 per cent to N27.95, Conoil shed 18.89 per cent to N38.00, FTN Cocoa dropped 13.33 per cent to 26 Kobo, NCR Nigeria dwindled by 10.80 per cent to N2.89, and Multiverse deflated by 9.85 per cent to N3.57.

In the week, financial stocks led the activity chart with 414.427 million units worth N5.646 billion executed in 8,136 deals, accounting for 40.50 per cent and 27.92 per cent of the total trading volume and value, respectively.

Conglomerates equities recorded a turnover of 307.868 million units worth N479.512 million in 1,122 deals, while industrial goods shares recorded 104.234 million units valued at N10.354 billion in 1,334 deals.

The trio of Transcorp, GTCO and BUA Cement were the busiest stocks, contributing 43.76 per cent and 47.26 per cent to the total equity turnover volume and value, respectively, with the sale of 447.809 million units worth N9.556 billion in 2,018 deals.

A look at the movement of the key indices of the Nigerian Exchange (NGX) Limited in the week under review showed that the All-Share Index (ASI) and the market capitalisation appreciated by 0.48 per cent to 55,794.51 points and N30.395 trillion, respectively.

Similarly, all other indices finished higher except the NGX Main Board, NGX CG, banking, pension, NGX AFR Bank Value, NGX AFR Dividend Yield, NGX MERI Growth, NGX MERI Value, consumer goods and energy indices, which fell by 0.09 per cent, 0.74 per cent, 1.82 per cent, 0.57 per cent, 2.04 per cent, 0.57 per cent, 0.88 per cent, 1.91 per cent, 0.26 per cent and 3.82 per cent, respectively, while the ASeM index closed flat.

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 [email protected]

Economy

Nigeria Eyes Brazil’s $94.4bn Export Performance to China

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Nigeria-China Strategic Partnership

By Adedapo Adesanya

If all the critical stakeholders put their hands on the deck, Nigeria can meet or surpass  Brazil’s $94.41 billion export performance to China in 2024 because the country has all it takes to achieve this goal.

This was the view of the Director-General of the Nigeria-China Strategic Partnership (NCSP), Mr Joseph Tegbe, when he met with the Minister of State for Industry, Trade, and Investment, Mr John Owan Enoh, to discuss move to accelerate Nigeria’s industrial revolution.

The meeting, which held in Abuja, explored actionable strategies to unlock the full industrial potential of both sectors within the framework of President Bola Ahmed Tinubu’s Renewed Hope Agenda with an overarching goal to shift Nigeria from an import-dependent economy to a production- and export-led industrial powerhouse.

Mr Tegbe emphasized that the Nigeria-China Strategic Partnership is committed to supporting this transformation, noting the country’s readiness to evolve from a consumption-driven economy into a strategic development partner—particularly with China.

He highlighted the mining sector’s vast potential, with over 40 commercially viable minerals as critical enablers of industrial growth.

The DG emphasized the need to build out local beneficiation, processing, and refining capacity—an agenda supported by clear regulatory reforms and investment incentives rather than continuing the raw export of mineral resources.

The Industrial Revolution Working Groups (IRWG)—a flagship initiative of the Presidential Council on Industrial Revitalization—are already operational, working to resolve regulatory bottlenecks, improve access to infrastructure and financing, and unlock sustainable growth across the mining value chain.

Mr Tegbe said the automotive sector was receiving focused government attention, with policies in place to make Nigeria a regional hub for vehicle assembly and full-scale manufacturing, adding that the Nigeria First Policy has already begun to stimulate demand for domestically assembled vehicles, while boosting investor confidence in the sector.

“There is a strong commitment to the implementation of a structured national automotive policy, aiming to move from basic vehicle assembly to advanced manufacturing that integrates local supply chains and paves the way for electric and energy-efficient mobility,” he said.

Speaking on Nigeria’s comprehensive strategic partnership with China, Mr Tegbe shared updates on landmark agreements secured with major Chinese firms including Huawei, China Communications Construction Company (CCCC), Chilwee Group, and Choice International Group (CIG).

According to him, these companies are bringing advanced technologies, skilled manpower, and capital into Nigeria’s automotive, mining, manufacturing, communication and clean energy sectors—contributing directly to job creation, technology transfer, and industrial innovation.

“These partnerships are not only vital for job creation, but they will also strengthen our technical capabilities, expand industrial output, and accelerate localization of production,” said Mr Tegbe, adding that, “We are changing the narrative—Nigeria must no longer be seen as a mere consumer market; but an active industrial partner.”

In his remarks, Mr Enoh reaffirmed the federal government’s renewed commitment to three priority sectors—Sugar, Cotton-Textile-Garment (CTG), and Automobiles—each backed by active industry councils to drive localized production, stimulate domestic demand, and boost Nigeria’s global industrial competitiveness.

At the center of this shift is the Nigeria First Policy, a landmark presidential directive that mandates all Ministries, Departments, and Agencies (MDAs) to prioritize Nigerian-made goods and services in public procurement.

This policy is already restructuring supply chains, catalyzing job creation, and reducing overreliance on imports across key sectors.

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Economy

NASD OTC Exchange Records 0.13% Appreciation

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NASD OTC exchange

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange closed in the green territory as it saw a 0.13 per cent rise on Tuesday, May 20.

The market capitalisation was higher during the session by N2.39 billion to N1.847 trillion from the N1.844 trillion recorded on Monday, and the NASD Unlisted Security Index (NSI) went up by 4.09 points to 3,154.58 points from the 3,150.49 points quoted at the last trading day.

There was a decline in the volume of securities traded at the bourse yesterday by 98.6 per cent to 572,645 units from the 42.0 million units recorded a day earlier, the value of shares transacted during the session also went down by 97.1 per cent to N6.1 million from N210.6 million, and the number of deals increased by 122.2 per cent to 20 deals from the nine deals achieved in the previous session.

The NASD OTC exchange ended the trading day with four price gainers and one price loser led by Central Securities Clearing System (CSCS) Plc, which fell by N1.83 to settle at N23.87 per share, in contrast to Monday’s closing price of N25.70 per share.

However, Geo-Fluids Plc gained 22 Kobo to close at N2.53 per unit versus the previous day’s N2.31 per unit, Food Concepts Plc rose by 14 Kobo to N1.55 per share from N1.41 per share, FrieslandCampina Wamco Nigeria Plc added 10 Kobo to sell at N40.10 per unit compared with the previous day’s N40.00 per unit, and UBN Property Plc grew by 9 Kobo to N2.25 per share from N2.16 per share.

At the close of transactions, Impresit Bakolori Plc was the most active stock by volume on a year-to-date basis with 536.9 million units worth N524.7 million, followed by Geo-Fluids Plc with 266.7 million units valued at N471.3 million, and Okitipupa Plc with 153.6 million units sold for N4.9 billion.

Okitipupa Plc was the most traded stock by value on a year-to-date basis with 153.6 million valued at N4.9 billion, trailed by FrieslandCampina Wamco Nigeria Plc with 21.9 million units sold for N843.0 million, and Impresit Bakolori Plc with 536.9 million units worth N524.7 million.

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Economy

Naira Sells N1,591/$1 at NAFEM, N1,625/$1 at Black Market

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Fake Naira Notes

By Adedapo Adesanya

The Naira further appreciated against the US Dollar on Tuesday, May 20, 2025, by 0.48 per cent or N7.69 at the Nigerian Autonomous Foreign Exchange Market (NAFEM) as the Central Bank of Nigeria (CBN) retained the benchmark interest rate at 27.50 per cent.

During the trading session, the exchange rate closed at N1,591.25/$1, in contrast to the preceding day’s value of N1,598.94/$1.

In the same vein, the local currency gained N10.79 against the Pound Sterling yesterday in the official market to sell for N2,126.60/£1 versus Monday’s price of N2,137.29/£1 and chalked up N7.51 on the Euro to finish at N1,791.49/€1 compared with the previous day’s N1,799.00/€1.

In the black market, the Nigerian currency maintained stability against the Dollar during the session to quote at N1,625/$1.

At the end of the 300th Monetary Policy Committee (MPC) meeting on Tuesday, the Monetary Policy Rate (MPR) was left at 27.50 per cent, the Cash Reserve Ratio (CRR) remained at 50 per cent, and the Liquidity Ratio (LR) was kept at 30 per cent.

In addition, the Governor of the CBN, Mr Yemi Cardoso, said the Naira is stable and more competitive in the FX market, indicating stability for the Nigerian economy.

In the cryptocurrency market, Cardano (ADA) jumped by 2.5 per cent to trade at $0.7549, Dogecoin (DOGE) appreciated by 1.6 per cent to sell at $0.2278, Bitcoin (BTC) increased its value by 1.4 per cent to end at $107,038.79, Binance Coin (BNB) rose by 1.2 per cent to finish at $655.82, Ethereum (ETH) increased by 0.7 per cent to $2,557.02, and Solana (SOL) went up by 0.6 per cent to close at $169.02.

On the flip side, Litecoin (LTC) recorded a 0.8 per cent depreciation to settle at $95.07, and Ripple (XRP) slumped by 0.2 per cent to $2.35, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) remained unchange at $1.00 apiece.

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