Economy
Market Gains N146bn as Investors Bet on Industrial Goods Stocks
By Dipo Olowookere
The local equity market rebounded by 0.32 per cent on Tuesday on renewed interest in industrial goods stocks, a day after they caused the downfall of the Nigerian Exchange (NGX) Limited due to profit-taking.
Business Post reports that traders were more interested in BUA Cement and Lafarge Africa because of their prospects, helping their sector gain 1.39 per cent at the close of business.
The banking index increased during the trading session by 0.69 per cent, and the insurance counter improved by 0.23 per cent, while the consumer goods sector depreciated by 0.11 per cent, with the energy space closing flat.
The positive outcome of the session raised the market capitalisation of the stock exchange by N146 billion to N38.941 trillion from N38.795 trillion, as the All-Share Index (ASI) went up by 227.91 points to 70,840.72 points from 70,612.81 points.
As for the market breadth index, it was positive yesterday after the bulls outnumbered the bears at 35 and 16, respectively, indicating a strong investor sentiment.
Northern Nigerian Flour Mills topped the gainers chart after chalking up 10.00 per cent to close at N19.80, MuCure rose by 9.98 per cent to N4.74, C&I Leasing appreciated by 9.97 per cent to N3.75, Meyer jumped by 9.96 per cent to N2.98, and Livingtrust Mortgage Bank soared by 9.96 per cent to N2.98.
On the flip side, Red Star Express topped the losers’ table after it dropped 9.76 per cent to trade at N2.96, FTN Cocoa depreciated by 9.29 per cent to N1.66, Mutual Benefits lost 5.77 per cent to finish at 49 Kobo, Caverton slumped by 4.83 per cent to N1.38, and Prestige Assurance weakened by 4.44 per cent to 43 Kobo.
Despite the gains reported by the market on Tuesday, the level of activity waned as the trading volume, value and the number of deals decreased by 30.99 per cent, 56.41 per cent, and 14.38 per cent apiece.
A total of 327.4 million equities valued at N3.4 billion were traded in 6,533 deals during the session versus the 474.4 million equities worth N7.8 billion traded in 7,630 deals on Monday.
Japaul maintained its top position on the activity chart with the sale of 44.7 million stocks for N82.8 million, Fidelity Bank traded 36.4 million shares worth N326.8 million, UBA transacted 26.7 million equities valued at N555.0 million, Oando sold 21.3 million stocks for N230.4 million, and Jaiz Bank traded 18.8 million equities valued at N30.3 million.
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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