By Dipo Olowookere

Panic sell-offs by investors have left the Nigerian Exchange (NGX) Limited losing weight very fast, as it further gave up 1.57 per cent on Monday.

Yesterday, only 17 equities ended on the advancers’ log, while 45 equities finished on the laggards’ chart, representing a negative market breadth index and weak investor sentiment.

All the major sectors of the bourse tasted defeat during the session, with the insurance counter down by 1.33 per cent. The banking space lost 1.22 per cent, the consumer goods index depreciated by 0.63 per cent, the industrial goods segment shed 0.39 per cent, and the energy sector tumbled by 0.06 per cent.

Consequently, the All-Share Index (ASI) stumbled by 3,682.70 points to 228,366.32 points from 232,049.02 points, and the market capitalisation slipped by N2.363 trillion to N146.542 trillion from N148.905 trillion.

Learn Africa lost 10.00 per cent to close at N9.00, MTN Nigeria also declined by 10.00 per cent to N747.00, Unilever Nigeria crashed by 10.00 per cent to N126.00, Austin Laz dropped 9.94 per cent to settle at N3.17, and Universal Insurance dipped by 9.90 per cent to quote at N28.12.

Conversely, Sovereign Trust Insurance gained 4.08 per cent to end at N2.04, Cornerstone Insurance chalked up 3.45 per cent to trade at N6.00, Neimeth appreciated by 3.03 per cent to N8.50, Livestock Feeds climbed by 1.92 per cent to N7.95, and C&I Leasing grew by 1.90 per cent to N5.35.

Business Post observed a surge in activity level on the first trading day of this week, with the trading volume, value, and number of deals up by 156.37 per cent, 137.50 per cent, and 38.50 per cent.

This was because market participants transacted 996.5 million stocks worth N43.7 billion in 61,813 deals on Monday compared with the 388.7 million stocks valued at N18.4 billion traded in 44,631 deals last Friday.

Ikeja Hotel exchanged 305.5 million shares for N13.2 billion, Access Holdings sold 289.9 million equities worth N6.6 billion, Dangote Sugar traded 29.4 million stocks valued at N1.9 billion, Chams transacted 22.0 million shares worth N87.9 million, and Zenith Bank traded 21.2 million equities for N2.4 billion.

By Adedapo Adesanya

Oil prices settled higher by more than 1 per cent on Monday after attacks by the United States and Iran underscored ‌the fragility of their interim peace deal.

Brent crude futures gained $1.16 or 1.61 per cent to sell at $73.15 a barrel, while the US West ⁠Texas Intermediate (WTI) crude appreciated by $1.52 or 2.2 per cent to $70.75 per barrel.

The latest price movement appears to suggest that the market is concerned about a reduction in tanker traffic through the Strait of Hormuz following attacks on two commercial vessels on Thursday and Friday last week, and a further flare-up over the weekend.

The Thursday attack on the container ship Ever Lovely prompted some shipowners to pull back and wait for additional information about how safe transiting the Strait is. The US military on Friday carried out strikes on Iran in response to the attack on the vessel.

On Saturday, an Iranian attack on a Panama-flagged oil tanker, Kiku, while it was transiting the Strait of Hormuz, prompted additional strikes by the U.S. forces.

After the flare-up this weekend, the US and Iran appear to have agreed to cease attacks ahead of tentatively planned new talks this week.

Iranian and US technical teams working on the implementation of an interim peace deal are expected to meet in Doha ​in the coming days, even after both sides carried out strikes over the weekend that threatened to ​derail the accord.

Iranian Deputy Foreign Minister Kazem Gharibabadi said Iranian and ​Omani experts will start talks on redefining transit paths through the Strait of Hormuz in the coming days, adding that his country will try to obstruct vessels outside of defined paths.

Analysts cautioned that traffic through the strait is far from being fully recovered, helping keep prices somewhat elevated as outbound Persian Gulf ​crude exports are quickly rebounding to at least 75 per cent of pre-war levels.

Middle East producers are pushing ahead with loading oil and Liquefied Natural Gas (LNG) despite ​fresh ship attacks ⁠in the Strait of Hormuz and renewed strikes between the US and Iran in recent days.

Saudi oil giant Aramco resumed crude oil loadings on Friday at its Ras Tanura terminal, west of the Strait of Hormuz, after ⁠they were ​halted for nearly four months. Loadings continued even after a helicopter belonging to ​the company crashed on Sunday at Ras Tanura, killing 14 nationals. The cause of the crash was unknown.

By Adedapo Adesanya

The Nigeria Customs Service (NCS) has intensified its nationwide sensitisation campaign on the implementation of the Green Tax Surcharge and related fiscal adjustments ahead of the policy’s commencement on July 1, 2026.

The service disclosed this in a statement published on its official X handle on Monday, saying the initiative is aimed at promoting environmental sustainability, reducing carbon emissions and encouraging the importation of cleaner vehicles into the country in line with global environmental standards.

According to the statement, the latest sensitisation programme was held at the Apapa Area Command on Friday, June 26, 2026, under the theme, “Implementation of the Green Tax Surcharge and Related Fiscal Adjustments.”

The event brought together customs officers, licensed customs agents, freight forwarders, importers and other key stakeholders to familiarise them with the new policy ahead of its implementation.

Representing the Comptroller-General of Customs, Mr Adewale Adeniyi, the Zonal Coordinator for Zone A, Mr Mohammed Babadende, said the exercise was organised to ensure stakeholders fully understand the policy and its implementation framework before it takes effect.

“This sensitisation is designed to ensure that every stakeholder clearly understands the policy before implementation. Our objective is to eliminate uncertainty, promote voluntary compliance and guarantee uniform application of the Green Tax Surcharge across all commands,” Mr Adeniyi said.

He stressed that effective stakeholder engagement would help ensure a seamless rollout of the policy while improving compliance across the country’s ports and border stations.

Delivering a technical presentation, the Comptroller in charge of Tariff, System Audit and Coordination, Mr Murtala Muazu, explained that the Green Tax Surcharge differs from conventional fiscal measures and would therefore require a separate assessment process.

Mr Muazu disclosed that the agency has introduced a simplified implementation mechanism through the Harmonised System (HS) Code declaration platform to facilitate accurate assessment and ease compliance by importers and clearing agents.

He further revealed that the federal government has simultaneously reviewed existing import charges on vehicles to cushion the effect of the new environmental levy.

According to him, import levies on vehicles have been reduced from 20 per cent to 10 per cent, while duties on used vehicles have been cut from 15 per cent to five per cent.

The customs said the reductions are intended to offset the impact of the Green Tax Surcharge while supporting legitimate trade and ensuring businesses are not unduly burdened by the new policy.

Area Controllers who attended the sensitisation programme urged importers, licensed customs agents and members of the public to support the initiative, noting that the reduction in import levies would lower the cost of doing business, facilitate legitimate trade and ultimately contribute to reducing transportation costs across the country.

Stakeholders at the event welcomed the initiative but called for sustained public awareness campaigns to ensure broader understanding, minimise confusion and encourage voluntary compliance as the rollout date approaches.

The Green Tax Surcharge is scheduled to take effect on July 1, 2026, as part of the federal government’s broader efforts to promote environmentally friendly transportation and align Nigeria’s import policies with global climate and sustainability objectives.