Economy
NASD Exchange Extends Rally With 1.3% Growth
By Adedapo Adesanya
For the second trading day, the NASD Over-the-Counter (OTC) Securities Exchange recorded growth, this time, it was spurred by an appreciation in the equities of FrieslandCampina WAMCO Nigeria Plc.
The performance of the milk maker contributed to the 1.3 per cent gained by the unlisted securities market at the close of business on Thursday, January 7.
Consequently, the NASD Unlisted Security Index (NSI) increased by 9.62 points when activities were wrapped up at the session, ending at 752.34 points as against the 742.72 points it finished a day earlier.
In the same vein, the milk-producing company energised the market capitalisation of the bourse by N6.9 billion to finish at N539.81 billion in contrast to N532.91 billion it ended on Wednesday.
According to data from the exchange, FrieslandCampina WAMCO Nigeria Plc gained N8 or 6.2 per cent to close at N138 per share versus N130 per share of the previous day.
However, FrieslandCampina WAMCO Nigeria was not the only price mover as Niger Delta Exploration and Production (NDEP) Plc ended on the other side of the divide, losing N5 in value to close at N350 per share compared with N355 per share of the previous day.
Business Post reports that there was an improvement in the trading volume at the unlisted securities market yesterday as a total of 48,000 stocks were traded at the session, 317.4 per cent higher than the 11,500 units traded at the preceding day.
Similarly, the value of securities traded by investors at the fourth session of the week rose to N9.6 million, a whopping 1,569.1 per cent more than the previous session’s N574,000.
There was also a rise in the number of deals made on Thursday as seven deals were executed on shares of three companies; FrieslandCampina (five deals), NDEP Plc (one deal) and Nipco Plc (one deal).
Furthermore, on the activity chart, Central Securities Clearing Systems (CSCS) Plc with 45,890 units worth N724,268 has the highest trading volume on a year-to-date basis. It was followed by FrieslandCampina WAMCO Plc which has sold 31,000 units worth N4.2 million, and NDEP Plc, which has traded 26,650 units worth N9.4 million, while Nipco Plc stood in fourth place with 2,500 units traded for N170, 000.
NDEP Plc took the top position in terms of value by year-to-date with 26,650 units worth N9.4 million. FrieslandCampina WAMCO Plc, which has sold 31,000 units worth N4.2 million, followed in second place. CSCS Plc came next with 45,890 units of its stocks worth N724, 268 while Nipco Plc has traded 2,500 units for N170,000.
By Aduragbemi Omiyale
HBM Nigeria Plc, formerly Lafarge Africa Plc, recorded a 31 per cent surge in revenue in the first half of 2026 by 31 per cent as a result of an 11 per cent jump in volume growth, enhanced operational stability and improvement in distribution efficiency.
Also, in the first six months of this year, the cement maker grew its operating profit by 51 per cent to N291 billion after sustained efficiency gains across the business, while operating margin soared to 43 per cent from 37 per cent in H1 2025, with the net profit increasing by 57 per cent to N208 billion.
HBM Nigeria is a leading provider of innovative building solutions and manufacturer of a wide range of cement, ready mix, mortar and Plaster of Paris brands.
“Our H1 2026 performance demonstrates the continued strength of our business and the successful execution of our strategic priorities. These results reflect disciplined cost management, operational excellence, and prudent financial stewardship.
“We are focused on further improving supply reliability, advancing our cost leadership agenda, driving innovation, accelerating our sustainability initiatives, and maintaining the highest standards of health and safety,” the chief executive of HBM Nigeria, Mr Lolu Alade-Akinyemi, disclosed.
He assured that the cement firm would remain focused on building on a strong operational momentum by leveraging the industrial and technical expertise of Huaxin Building Materials Ltd to drive operational excellence and improve efficiency across the business.
In light of this, HBM Nigeria has commenced the engineering design for its third production line at Calabar, a state-of-the-art 3-million-ton integrated cement facility. The project is progressing through the requisite development processes, with completion expected within 12 months following commencement of construction.
On HBM Nigeria’s business outlook for the rest of the year, Mr Alade-Akinyemi said, “Nigeria’s demand outlook for cement remains positive, supported by ongoing infrastructure development, urbanisation, and resilient activity across the construction sector, despite a dynamic global operating environment.”
“As macroeconomic conditions continue to improve, we expect demand across our key market segments to remain supportive of sustainable growth.
“We plan to continue focusing on capturing volume growth opportunities while maintaining disciplined cost management and operational excellence to strengthen profitability and preserve margins.
“The company remains well positioned to create sustainable long-term value for its shareholders and all stakeholders by leveraging its resilient operating platform, a strong balance sheet, and disciplined execution of strategic priorities,” he stated.
By Aduragbemi Omiyale
The management of Africa Prudential Plc has charted five strategic priorities to drive the company’s growth through the second half of 2026.
These goals were announced by the organisation at its investor call, attended by various stakeholders in the capital market.
Addressing participants at the call on Tuesday, July 28, 2026, the chief executive of Africa Prudential, Ms Catherine Nwosu, said one of these priorities is delivering sustainable business growth through core registrar and new business lines.
She listed others as accelerating product and service innovation leveraging technology, strengthening Africa Prudential’s brand equity and market leadership, investing in talent development and organisational capability, and deepening corporate governance and institutional excellence.
At the event, a key question from investors focused on the company’s ability to sustain earnings growth in an environment where interest rates may begin to moderate.
In her response, Ms Nwosu said, “Interest rates influence our treasury income positively, but that is why we are deliberately diversifying our revenue streams. Our strategy is to grow recurring fee-based business lines such as our digital solutions, KYC services, AGM technology, Probate services, and the SabiVest mobile app. Over time, this will reduce our reliance on interest income and create a more balanced and resilient earnings mix.”
“With capital market activity nearly doubling over the past year, demand for seamless digital investor experiences, improved market efficiency, and stronger compliance standards continues to grow.
“We are investing in technology-enabled solutions that position us to capitalise on these opportunities while delivering sustainable value to our shareholders,” she added.
In the first half of 2026, Africa Prudential, a leading provider of share registration services and capital market solutions, reported another strong performance, demonstrating strong corporate governance and resilience, and the effectiveness of its growth strategy despite an evolving macroeconomic environment.
Its gross earnings grew by 27 per cent to N4.28 billion from N3.34 billion in the same period of the previous year, while net operating income rose by 27 per cent to N4.21 billion.
In H1 2026, profit before tax soared by 22 per cent to N2.41 billion, while the profit after tax surged by 18 per cent to N1.59 billion, with total assets expanding by 13 per cent to N46.53 billion, and shareholders’ fund also up by 13 per cent to N12.52 billion.
It was observed that the impressive results were driven by sustained growth in the company’s core registrar business, increased corporate action activities across the Nigerian capital market, stronger treasury performance supported by the prevailing interest rate environment, and increasing adoption of Africa Prudential’s technology-enabled solutions.
Beyond the numbers, management reaffirmed Africa Prudential’s strategic evolution from a traditional registrar into a diversified technology and business solutions company serving the broader capital market ecosystem.
By Aduragbemi Omiyale
The 7th Africa Emerging Markets Forum has commenced in Abuja, Nigeria, with critical stakeholders in the financial services and other industries in attendance.
The programme commenced today, Wednesday, July 29, 2026, and will end tomorrow, Thursday, July 30, 2026.
It is taking place at the headquarters of the Central Bank of Nigeria (CBN) in Abuja.
The hybrid forum is themed Building Resilience Amidst Geoeconomic Uncertainties. It brings together distinguished policymakers, economists and development leaders to explore practical solutions for strengthening Africa’s resilience in an increasingly complex global economy.
Speaking at the conference are the CBN Governor, Mr Olayemi Cardoso; the Director-General of the World Trade Organisation (WTO), Mrs Ngozi Okonjo-Iweala; Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele; and the chief executive of Emerging Markets Forum, Mr Harinder S. Kohli.
The organisers have provided an avenue for those unable to attend the programme physically to catch up with it via their social media platforms, including on the YouTube channel of the central bank.
