Economy
NGX All-Share Index Down 0.02% in Fierce Bears-and-Bulls Battle
By Dipo Olowookere
The Nigerian Exchange (NGX) Limited suffered a 0.02 per cent loss on Friday in a fierce bears-and-bulls battle that mounted pressure on the local bourse.
The bears ran away with the spoils of war, with the All-Share Index (ASI) down by 21.96 points at the close of transactions to 98,233.76 points from 98,255.72 points and the market capitalisation weakened by N8 billion to N55.562 trillion from N55.570 trillion.
The banking and industrial goods sectors, which closed higher by 0.53 per cent and 0.01 per cent, respectively, could not stop the fury of the bears during the session due to the 1.82 per cent posted by the insurance space, a 0.33 per cent decline recorded by the energy counter, and the 0.29 per cent fall reported by the consumer goods index.
In terms of the market breadth, it was positive after a slim victory by the bulls, as there were 26 price gainers and 25 price losers, indicating a bullish investor sentiment.
AXA Mansard depreciated by 10.00 per cent to N5.13, PZ Cussons lost 9.90 per cent to trade at N27.75, Eterna also slumped by 9.90 per cent to N13.65, McNichols fell by 9.00 per cent to 91 Kobo, and ABC Transport crashed by 8.45 per cent to 65 Kobo.
Conversely, Honeywell Flour jumped by 9.97 per cent to N3.31, Guinea Insurance grew by 9.68 per cent to 34 Kobo, International Energy Insurance soared by 9.63 per cent to N1.48, Tantalizers expanded by 9.52 per cent to 46 Kobo, and The Initiates advanced by 9.00 per cent to N2.30.
On the final trading day of the week, investors bought and sold 344.4 million shares valued at N7.5 billion in 8,497 deals versus the 676.4 million shares worth N16.7 billion traded in 8,415 in the preceding session, representing a decline in the trading volume and value by 49.08 per cent, and 55.09 per cent, respectively, and a rise in the number of deals by 0.97 per cent.
UBA closed the day as the busiest stock with the sale of 90.1 million units valued at N2.4 billion, Access Holdings exchanged 39.6 million units for N691.1 million, Zenith Bank traded 35.1 million units worth N1.2 billion, AXA Mansard sold 13.0 million units valued at N68.0 million, and Prestige Assurance transacted 12.2 million units worth N6.7 million.
By Adedapo Adesanya
Oil traded lower on Wednesday after US President Donald Trump eased fears of disruptions to Iranian supplies, indicating that killings in Iran’s crackdown on civil unrest were subsiding.
Yesterday, the price of Brent futures declined by 92 cents or 1.41 per cent to $64.55 per barrel while the US West Texas Intermediate (WTI) futures slipped 96 or 1.57 per cent to $60.19 a barrel.
Prices had risen on fears of Iranian supply disruptions due to a potential US attack on Iran and possible retaliation against US regional interests.
President Trump said on Wednesday afternoon he had been told that killings in Iran’s crackdown on nationwide protests were subsiding and he believed there was currently no plan for large-scale executions.
Still, tensions between Iran and the US remained high after Iran had warned US allies in the Middle East it would strike American bases on their soil if the US attacked it. The US began evacuating military personnel from a key Qatar air base on Wednesday.
While markets may have cooled somewhat on the back of President Trump’s comments, protests in Iran have persisted, and there remains plenty of uncertainty over what might come next.
Market analysts noted that continued protests in Iran risk tightening global oil balances through near-term supply losses, but mainly through rising geopolitical risk premium.
However, this remains somewhat minimal as the protests had not spread to the main Iranian oil-producing areas, which had limited the effect on actual supply.
Also supporting oil prices, Federal Reserve Bank of Minneapolis President Neel Kashkari said on Wednesday he was optimistic about the economic outlook and expected inflation to ease.
It is also looking increasingly likely that Venezuela’s oil supply is set to return to markets, with the US completing its first sale of Venezuelan oil on Wednesday.
Two supertankers departed Venezuelan waters on Monday with about 1.8 million barrels each of crude in what may be the first shipments of a 50 million-barrel supply deal between Venezuela and the US to get exports moving again following the capture of Venezuelan President Nicolas Maduro.
Crude oil inventories in the US increased by 3.4 million barrels during the week ending January 14, according to new data from the US Energy Information Administration (EIA) released on Wednesday.
The EIA’s data release follows figures by the American Petroleum Institute (API) that were released a day earlier, which suggested that crude oil inventories grew by 5.27 million barrels.
By Adedapo Adesanya
TotalEnergies EP Nigeria has signed a Sale and Purchase Agreement with Vaaris for the divestment of its 10 per cent non-operated interest in the Renaissance JV licences in Nigeria.
The Renaissance JV, formerly known as the SPDC JV, is an unincorporated joint venture between Nigerian National Petroleum Company Limited (55 per cent), Renaissance Africa Energy Company Ltd (30 per cent, operator), TotalEnergies EP Nigeria (10 per cent) and Agip Energy and Natural Resources Nigeria (5 per cent), which holds 18 licences in the Niger Delta.
In a statement by TotalEnergies on Wednesday, it was stated that under the agreement signed with Vaaris, TotalEnergies EP Nigeria will sell its 10 per cent participating interest and all its rights and obligations in 15 licences of Renaissance JV, which are producing mainly oil.
Production from these licences, it was said, represented approximately 16,000 barrels equivalent per day in company’s share in 2025.
The agreement also stated that TotalEnergies EP Nigeria will also transfer to Vaaris its 10 per cent participating interest in the three other licences of Renaissance JV which are producing mainly gas, namely OML 23, OML 28 and OML 77, while TotalEnergies will retain full economic interest in these licences, which currently account for 50 per cent of Nigeria LNG gas supply.
Business Post reports that the conclusion of the deal is subject to customary conditions, including regulatory approvals.
“TotalEnergies EP Nigeria has signed a Sale and Purchase Agreement with Vaaris for the sale of its 10 per cent non-operated interest in the Renaissance JV licences in Nigeria.
“Under the agreement signed with Vaaris, TotalEnergies EP Nigeria will sell to Vaaris its 10 per cent participating interest and all its rights and obligations in 15 licences of Renaissance JV, which are producing mainly oil. Production from these licences represented approximately 16,000 barrels equivalent per day in the company’s share in 2025.
“TotalEnergies EP Nigeria will also transfer to Vaaris its 10 per cent participating interest in the 3 other licenses of Renaissance JV, which are producing mainly gas (OML 23, OML 28 and OML 77), while TotalEnergies will retain full economic interest in these licenses, which currently account for 50 per cent of Nigeria LNG gas supply. Closing is subject to customary conditions, including regulatory approvals,” the statement reads in part.
The development is part of TotalEnergies’ strategies to dump more assets to lighten its books and debt.
By Aduragbemi Omiyale
The trading licence of Monument Securities and Finance Limited has been revoked by the regulatory arm of the Nigerian Exchange (NGX) Group Plc.
Known as NGX Regulations Limited (NGX Regco), the regulator said it took back the operating licence of the organisation after it shut down its operations.
The revocation of the licence was approved by Regulation and New Business Committee (RNBC) at its meeting held on September 24, 2025, a notice from the signed by the Head of Market Regulations at the agency, Chinedu Akamaka, said.
“This is to formally notify all trading license holders that the board of NGX Regulation Limited (NGX RegCo) has approved the decision of the Regulation and New Business Committee (RNBC)” in respect of Monument Securities and Finance Limited, a part of the disclosure stated.
Monument Securities and Finance Limited was earlier licensed to assist clients with the trading of stocks in the Nigerian capital market.
However, with the latest development, the firm is no longer authorised to perform this function.
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