By Dipo Olowookere

Last week, investors traded 2.094 billion shares worth N52.967 billion in 64,612 deals on the floor of the Nigerian Exchange (NGX) Limited compared with the 1.183 billion shares valued at N28.868 billion in 42,397 deals a week earlier.

Nigerian stocks witnessed higher turnover in the week due to panic selling by the market participants, triggered by happenings in the global scene, especially as regards the trade war between the United States and China.

Analysis showed that the financial services sector was the busiest in the period under review, trading 1.539 billion units valued at N36.353 billion in 36,013 deals, contributing 73.49 per cent and 68.63 per cent to the total trading volume and value, respectively.

The agriculture industry recorded the sale of 98.884 million units worth N 1.344 billion in 2,772 deals, and the services counter exchanged 93.000 million units for N522.147 million in 3,012 deals.

Access Holdings, GTCO, and Zenith Bank led the activity chart with 629.327 million units worth N25.820 billion in 12,742 deals, contributing 30.06 per cent and 48.75 per cent to the total trading volume and value, respectively.

Business Post reports that 27 equities appreciated in the week versus 23 equities in the previous week, 56 equities depreciated versus 51 equities in the previous week, and 64 equities remained unchanged versus 73 equities a week earlier.

VFD Group topped the gainers’ log after chalking up 53.86 per cent to close at N87.70, Union Dicon expanded by 31.03 per cent to N7.60, Abbey Mortgage Bank jumped by 29.60 per cent to N6.13, FTN Cocoa rose by 18.75 per cent to N1.90, and TotalEnergies grew by 9.61 per cent to N745.00.

The losers’ chart was led by Royal Exchange after it lost 20.79 per cent to settle at 80 Kobo, Cornerstone Insurance declined by 15.15 per cent to N2.80, Sovereign Trust Insurance tumbled by 15.00 per cent to 85 Kobo, Lasaco Assurance shed 12.82 per cent to finish at N2.04, and CAP dwindled by 11.70 per cent to N41.50.

Data showed that the All-Share Index (ASI) and the market capitalisation depreciated by 0.90 per cent and 0.67 per cent each to 104,563.34 points and N65.707 trillion, respectively.

Similarly, all other indices finished lower apart from the growth and sovereign bond indices, which appreciated by 0.37 per cent and 3.42 per cent, respectively, while the AseM index closed flat.

By Adedapo Adesanya

Infrastructure Credit Guarantee Company Limited (InfraCredit) has announced the equity investment of N27 billion from a United Kingdom government-backed MOBILIST programme.

According to the company, the new equity investment will significantly strengthen InfraCredit’s guarantee issuing capacity, enabling greater support for creditworthy infrastructure projects.

InfraCredit is a AAA-rated specialised infrastructure credit guarantee institution backed by Nigeria’s sovereign wealth fund.

The equity raise involves InfraCredit’s formal transition to a Public Limited Company (Plc) and its listing by introduction on the NASD Over-the-Counter (OTC) Securities Exchange.

The raise came alongside other institutional investors, further strengthening its institutional shareholder base following the completion of its equity private placement.

The organisation also said the strategic investment marks a major milestone in its journey, reinforcing its commitment to unlocking long-term, local currency infrastructure financing in Nigeria and creating sustainable value for its stakeholders.

Commenting on this milestone, Mr Chinua Azubike, Chief Executive Officer of InfraCredit, stated this development marks a new chapter for the company as it help to accelerate infrastructure delivry in the country.

“This moment marks the beginning of a new chapter for InfraCredit. We are pleased with the confidence reposed in us by our new domestic institutional investor shareholders alongside the UK Government through MOBILIST, and our transition to a listed public company with access to equity capital markets. This reflects our ambition to build a deeper, more inclusive capital market for domestic resources that accelerates infrastructure delivery in Nigeria in line with our mission to unlock long-term local currency infrastructure finance,” he said.

On his part, Mr Jonny Baxter, British Deputy High Commissioner in Lagos, commented that “InfraCredit’s success highlights the power and impact of long-term partnerships, and the UK via the Foreign Commonwealth and Development Office (FCDO) is proud to have played a key role in not just the creation of InfraCredit but its continued growth.”

Speaking on the Listing, Mr Eguarekhide Longe, CEO, NASD said, “NASD PLC. and InfraCredit PLC have established a long-standing relationship initiated by the noting of the Multi-Issuer Clean Energy Bond series from 2022. The uniqueness of the Clean Energy Multi-Issuer Bond series underscores the transformational effect that InfraCredit has brought to the Nigerian Capital Market, providing guarantees as incentive to investors, mostly institutional, to participate in the infrastructure debt market.”

By Adedapo Adesanya

The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has hailed the Federal Executive Council (FEC) for approving the continuation of the Naira-for-Crude policy, expressing optimism that the initiative, alongside the recent decline in global crude oil prices, will lead to a reduction in the cost of petroleum products in Nigeria.

Recall that the federal government recently confirmed that the Naira-for-Crude initiative with Dangote and other domestic refineries would continue to be implemented.

According to the federal ministry of finance, the stakeholders have reaffirmed the government’s continued commitment to the full implementation of this strategic initiative, as directed by the FEC.

The Naira-for-Crude policy allows local refineries, such as the Dangote Refinery, to purchase crude oil in Naira rather than US dollars. The move is aimed at strengthening Nigeria’s local refining capacity, enhancing energy security, and easing pressure on the foreign exchange market.

In a reaction to the development, PETROAN National President, Mr Billy Gillis Harry, commended President Bola Tinubu and key sectoral leaders for championing policies that prioritize affordability and price stability in Nigeria’s downstream sector.

“We commend the President, the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, the Minister of Finance, Mr. Wale Edun, and the CEOs of NMDPRA and NUPRC for championing this bold step. This is a strategic move towards making fuel more affordable and insulating the Nigerian economy from global oil price shocks,” he stated.

The group further noted that the recent dip in international crude oil prices—caused by a mix of weakening global demand, economic slowdowns, and increased output from producers not under the Organisation of the Petroleum Exporting Countries (OPEC)—should translate into lower domestic fuel prices, especially with the Naira-for-Crude policy in effect.

“With local refineries now sourcing crude in Naira, the cost of production is expected to drop significantly. We believe this will be reflected in pump prices, allowing Nigerians to feel the benefits of falling global oil prices,” the association disclosed, linking the global price slump to geopolitical and economic shifts.

“The recession in major economies and reciprocal tariffs from President Trump’s administration have slowed global demand. This, combined with overproduction, has led to a supply glut,” it said.

“The Federal Executive Council has directed full implementation of the policy as part of efforts to strengthen local refining, reduce foreign exchange dependency, and stabilize the downstream petroleum sector.

“PETROAN’s optimism is rooted in the belief that Nigeria, by refining its own crude, can break free from the volatility of international markets and pass on cost savings to consumers.

“We are confident that this policy will help Nigeria achieve energy independence and greater price stability. We eagerly await its full rollout and encourage swift action to make the benefits felt across the country.”