By Dipo Olowookere

The Nigerian Exchange (NGX) Limited was rescued from the claws of the bears on Thursday by 0.58 per cent in an operation led by Caverton and other price gainers.

This was triggered by renewed bargain-hunting in the financial services sector during the trading session, with the insurance counter expanding by 2.69 per cent.

Further, the banking index grew by 2.65 per cent, the consumer goods sector appreciated by 0.59 per cent, and the energy counter rose by 0.08 per cent, while the industrial goods industry depreciated by 0.03 per cent, with the commodity index closing flat.

At the close of business, the All-Share Index (ASI) went up by 601.24 points to 104,788.25 points from 104,187.00 points and the market capitalisation increased by N378 billion to N65.848 trillion from N65.470 trillion.

Investor sentiment was strong on Thursday as there were 45 price gainers and 11 price losers, representing a positive market breadth index.

Caverton flew higher by 10.00 per cent to N2.31, Neimeth leapt by 9.92 per cent to N2.88, Japaul gained 9.52 per cent to close at N1.84, Union Dicon soared by 9.45 per cent to N6.95, and Mutual Benefits improved by 9.30 per cent to 94 Kobo.

On the flip side, ABC Transport crashed by 10.00 per cent to N1.26, Eterna slipped by 9.90 per cent to N32.30, CAP depreciated by 7.45 per cent to N43.50, Regency Alliance crumbled by 3.64 per cent to 53 Kobo, and NGX Group lost 3.23 per cent to trade at N34.50.

A total of 432.6 million shares valued at N9.7 billion exchanged hands in 12,027 deals at Customs Street yesterday, in contrast to the 376.6 million shares worth N11.9 billion transacted in 11,576 deals at midweek, indicating a shortfall in the value of trades by 18.49 per cent, and a rise in the volume of transactions and number of deals by 14.87 per cent and 3.90 per cent, respectively.

The most active equity was Access Holdings after it traded 77.9 million units for N1.6 billion, Ellah Lakes exchanged 44.2 million units worth N132.8 million, Fidelity Bank sold 32.5 million units valued at N614.8 million, Zenith Bank transacted 30.2 million units worth N1.5 billion, and UBA traded 20.5 million units valued at N719.0 million.

By Adedapo Adesanya

Crude oil was down by about 3 per cent on Thursday as investors reassessed the planned pause in US tariffs and shifted focus to the escalating trade war between the US and China.

Yesterday, Brent crude futures fell by $2.15 or 3.3 per cent to $63.33 a barrel and the US West Texas Intermediate (WTI) crude futures depreciated by $2.28 or 3.7 per cent to settle at $60.07 per barrel.

Prices had risen on Wednesday after US President Donald Trump paused the heavy tariffs he had announced against dozens of trading partners a week ago, marking an abrupt U-turn less than 24 hours after the levies took effect.

At the same time, however, President Trump also raised tariffs against China bringing US tariffs on Chinese imports to a total of 145 per cent.

China announced an additional import levy on US goods, imposing an 84 per cent tariff.

Since returning to the White House in January, Mr Trump has repeatedly threatened an array of measures on trading partners, only to revoke some of them at the last minute.

The on-again, off-again approach has baffled world leaders and spooked markets, including the oil markets.

Higher tariffs against China are likely to prompt lower US crude imports by China, backing up supply and raising US storage levels.

Early signs from Kpler data show that US crude oil exports to China fell to 112,000 barrels per day  in March, nearly half of last year’s 190,000 barrels per day.

The US Energy Information Administration (EIA) on Thursday lowered its global economic growth forecasts and warned that tariffs could weigh heavily on oil prices, as it slashed its US and global oil demand forecasts for this year and 2026.

The EIA data had showed that US crude stockpiles rose by 2.6 million barrels last week on Wednesday.

There are high expectations that they will be another build this week.

Market analysts noted that the tariff-driven expectation of reduced demand amid the continued possibility of a US recession will remain front and center of trader concerns in likely keeping a lid on near-term price gains.

By Adedapo Adesanya

The Nigeria LNG Limited and the Bank of Industry (BoI) have launched a Micro, Small and Medium Enterprises (MSMEs) finance scheme with a model that slashes loan interest rates to 9 per cent.

The initiative was piloted in Rivers State to stimulate grassroots economic growth and offer a lifeline for entrepreneurs navigating the current high-cost financial landscape.

The initiative is aimed at providing affordable credit and capacity-building to small businesses and vendors across NLNG’s host communities and Gas Transmission System areas.

Speaking at its relaunch in Port Harcourt, NLNG’s General Manager, External Relations and Sustainable Development, Mrs Sophia Horsfall, said it is a “transformative economic intervention” tailored to reduce poverty and drive sustainable development.

“More than just a micro-credit finance scheme—we ignite new possibilities for grassroots entrepreneurs and small businesses After years of funding and empowering local enterprises, we took a strategic pause to reassess and enhance our impact. This partnership with the Bank of Industry is a bold new step to drive real economic growth in Rivers State and beyond,” she averred.

Mrs Horsfall noted that rising commercial loan interest rates had necessitated NLNG’s intervention with a subsidized model.

“We have introduced a buffer that allows beneficiaries to access loans at a reduced interest rate of 9 per cent. It is not just about financing—it’s about transformation, empowerment, and long-term impact. As we take this bold step forward, we do so with pride, knowing that today, we are shaping a stronger, more sustainable future for all,” she noted.

Under the model, NLNG provides a seed fund matched by BOI, creating a robust pool to support micro-enterprises and local contractors.

The scheme is fully digitalised, with an online portal developed to streamline loan applications and disbursements, ensuring transparency and efficiency.

Representing the Managing Director of BOI, Mr Olasupo Olusi, the Executive Director for MSMEs, Mr Omar Shekarau, said the partnership aligns with the bank’s 2025–2027 corporate strategy, which targets inclusive and sustainable development across six key pillars: youth and skills, gender, digital, MSMEs, climate finance, and infrastructure.

“This partnership also reflects BOI’s reinforced focus. To ensure efficiency and transparency, BOI has deployed a cutting-edge end-to-end loan management platform, the BOI Fund Partner Solution, which allows fund partners real-time access to the performance of their fund.”

He added that BOI remains committed to making long-term, affordable financing available to Nigerian MSMEs while transforming the industrial landscape through strategic partnerships.

“Through this strategic collaboration with BOI, NLNG reinforces its commitment to fostering economic development, empowering local businesses, and sustaining long-term growth within its host communities,” he added.

The reintroduction of the scheme is being hailed as a major boost for small business owners grappling with limited access to credit facilities amidst Nigeria’s tough economic climate.