Economy
NASD OTC Exchange Extends Positive Outcome for Third Consecutive Session

By Adedapo Adesanya
For a third straight session, the NASD Over-the-Counter (OTC) Securities Exchange on Thursday, August 28, recorded an impressive performance as it rose by 4.57 per cent.
The market capitalisation rose by N107.68 billion in value to close at N2.432 trillion compared with the preceding day’s N2.355 trillion and the NASD Unlisted Security Index (NSI) added 78.58 basis points to end the day at 1,797.85 points as against 1,719.27 points it recorded at the previous session.
Business Post reports that the market breadth index was at equilibrium during the session as there were two price gainers and two price losers.
Aradel Holdings Plc extended its rise by N539.55 yesterday to close at N6,739.55 per share compared to the previous day’s N6,200 .00 per share and UBN Property Plc gained 2 Kobo to end at N1.67 per unit versus the previous session’s N1.65 per unit.
On the flip side, Afriland Properties Plc lost N1.34 to end at N14.77 per share, in contrast to Wednesday’s closing price of N16.11 per share, and Central Securities Clearing System (CSCS) Plc dropped N1.56 loss to wrap the session at N18.91 per unit versus N20.47 per unit.
The volume of securities traded at the bourse jumped on Thursday by 856.4 per cent to 1.6 million units from 165,887 units, the value of transactions yesterday increased by 109.2 per cent to N674.8 million from N322.6 million, and the number of deals went down by 52.9 per cent to 40 deals from the 85 deals recorded a day earlier.
Aradel Holdings Plc finished the day as the most active stock by value (year-to-date) with 10.3 million units valued at N35.5 billion, followed by Afriland Properties Plc with 293.0 million units sold for N5.2 billion, and CSCS Plc with 106.2 million units worth N2.6 billion.
Afriland Properties Plc on its part ended as the most traded stock by volume (year-to-date) with 293.0 million units sold for N5.2 billion, trailed by Capital Hotels Plc with 259.6 million units valued at N1.3 billion, and Industrial and General Insurance (IGI) Plc with 218.8 million units worth N46.1 million.
Economy
Dangote Exports First Petrol Cargo to US Markets

By Adedapo Adesanya
The Dangote refinery has exported its first petrol (gasoline) cargo to the US markets, Argus reported, citing data from global trade analytics platform Kpler and market sources.
The Gemini Pearl loaded around 300,000 barrels of petrol at the Dangote port on August 26 and is en route to the US for likely discharge at the port of New York or New Jersey by September 12.
Although there was no direct confirmation as to who bought the cargo, it was speculated that trading firm Vitol could have chartered the vessel.
This is the first Nigerian petrol cargo to move to the US, but not the first time Dangote has exported gasoline out of West Africa.
The refinery has exported to Asia, having sent three LR2 cargoes to the continent with two to the Mideast Gulf and one to Singapore, in June and July respectively.
Since starting operations in 2024, the 650,000 barrels per day refinery has aimed to capture Nigeria’s petrol market and break a long history of import dependence to supply the country’s fuel. However, truck delivery supply has limited the plan from fully materialising.
However, since the refinery began producing petrol last September, its supply has gradually found its way into a growing number of international markets, including neighboring African countries, the Middle East and Southeast Asia.
This opportunity comes for the refinery at a time where there is spike in US Atlantic Coast RBOB prices and falling inventories in the east coast.
Dangote has also previously exported petrol to the Mideast Gulf during periods of tight supply, highlighting its growing role as a new global swing supplier.
Dangote Refinery is currently exporting low-sulphur straight-run fuel oil (LSSR), suggesting its Residue Fluid Catalytic Cracking (RFCC) is still running below full capacity while the unit continues to undergo intermittent maintenance. Analysts estimated the unit’s present run rates at about 45-50 per cent efficiency.
The RFCC, which is used for upgrading heavy feedstock to light products such as petrol, was shut in August for around 10-15 days, although the unit has likely restarted since. High metals content in the refiner’s LSSR exports, a feedstock for the RFCC unit, continues to indicate operational issues at the RFCC.
At its current 650,000 barrels per day capacity, the refinery is expected to be capable of producing around 210,000 barrels per day of petrol at an 85 per cent utilization rate, leaving it shy of domestic consumption that is anticipated to grow steadily each year.
Economy
NGX Suspends Universal Insurance, Two Others Over 2024 Financial Results

By Aduragbemi Omiyale
Failure to release financial results for the 2024 fiscal year has led to the suspension of three insurance companies on the Nigerian Exchange (NGX) Limited.
The affected underwriting firms are Regency Alliance Insurance Plc, International Energy Insurance Plc, and Universal Insurance Plc.
As a result of the embargo, shareholders and other investors will not be able to trade their stocks on the local stock market, according to a notice signed by Obioma Oge for the Head of Issuer Regulation Department of the NGX.
In the statement, it was disclosed that the effective date for the suspension of the three organisations was Monday, September 1, 2025.
It was in line with Rule 3.1, Rules for Filing of Accounts and Treatment of Default Filing, (Default Filing Rules), which provides that if an Issuer fails to file the relevant accounts by the expiration of the cure period, the exchange will: a) send to the issuer a second filing deficiency notification within two business days after the end of the cure period; b) suspend trading in the issuer’s securities; and c) notify the Securities and Exchange Commission (SEC) and the market within 24 hours of the suspension.
However, the embargo may be lifted if the trio released their outstanding financial statements for “the year ended December 31, 2024.”
Economy
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