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NGX Index Rises 0.03% on Improvement in Trades

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NGX Index

By Dipo Olowookere

The Nigerian Exchange (NGX) Limited further appreciated by 0.03 per cent on Tuesday on renewed interest of investors in local stocks.

Business Post reports that traders are beginning to purchase equities that could fetch them dividends in the coming days and weeks.

This was reflected in the activity chart as the five most active stocks were majorly dividend-paying shares, with United Capital trading 66.1 million units valued at N889.2 million.

Transcorp transacted 53.5 million shares worth N66.3 million, Zenith Bank exchanged 51.6 million stocks worth N1.4 billion, Fidelity Bank traded 44.4 million equities valued at N137.7 million, while Access Bank exchanged 26.8 million stocks valued at N278.0 million.

At the close of business, a total of 421.8 million shares worth N5.2 billion exchanged hands in 5,992 deals compared with the 421.5 million shares worth N4.2 billion transacted in 5,961 deals a day earlier, implying that the trading volume, value and number of deals increased by 0.09 per cent, 22.14 per cent and 0.52 per cent respectively.

There were 29 price gainers at the market yesterday led by Niger Insurance and Learn Africa, which gained 10.00 per cent each to settle at 22 kobo and N2.42 apiece.

SCOA Nigeria rose by 9.79 per cent to N2.58, Cutix appreciated by 9.65 per cent to sell for N2.84, while May and Baker also improved by 9.65 per cent to settle at N5.00.

On the flip side, the exchange closed the session with 18 price losers led by Ellah Lakes, which fell by 9.88 per cent to trade at N3.83 and was followed by Veritas Kapital, which lost 8.00 per cent to sell for 23 kobo.

Courteville went down by 5.56 per cent to 51 kobo, Guinness Nigeria shed 5.34 per cent to close at N70.05, while Neimeth depreciated by 4.76 per cent to N1.80.

Unlike the previous day, the five key sectors of the bourse closed mixed with the industrial goods and energy indices closing slightly higher by 0.02 per cent and 0.01 per cent respectively and the insurance, consumer goods and banking counters depreciating by 0.61 per cent, 0.40 per cent and 0.08 per cent respectively.

But at 2:30 pm, when the closing gong was struck to signify the end of trading for the session, the All-Share Index (ASI) was up by 12.99 points to finish at 47,246.90 points versus Monday’s 47,233.91 points, while the market capitalisation was up by N7 billion to close at N25.464 trillion compared with N25.457 trillion it ended a day earlier.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via dipo.olowookere@businesspost.ng

Economy

Dangote Exports First Petrol Cargo to US Markets

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Dangote refinery petrol

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.

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Economy

NGX Suspends Universal Insurance, Two Others Over 2024 Financial Results

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Universal Insurance shares

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.”

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Economy

Bitcoin and Dogecoin are Trending. Use TALL Miner to Earn a Steady $8,750 per day and Double Your Wealth

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TALL Miner

A new wave of Bitcoin wealth in 2025 · TALL Miner makes mining within reach

At the beginning of 2025, the global financial market once again focused on Bitcoin. As “digital gold,” BTC has not only become a safe-haven asset against inflation, but has also gradually become a core asset for institutions and investment funds worldwide. With the deregulation of crypto assets in many countries and the continued approval of ETFs, Bitcoin prices have once again broken through historical highs, officially entering a new upward cycle.

This market trend has opened up new opportunities for wealth growth for countless investors.

However, for ordinary people, directly participating in mining remains a high barrier to entry: expensive mining machines, exorbitant electricity costs, complex technology, and tedious maintenance have deterred most people.

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It’s against this backdrop that TALL Miner was born. We offload all the complexities of traditional mining to the cloud. Users simply purchase hashrate contracts and participate in Bitcoin block reward distribution in real time.

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TALL Miner cloud mining

Stable, secure, transparent, user reputation builds trust

The world of digital currency is ever-changing, with both opportunities and risks. For investors, choosing a stable, secure, and transparent platform is more important than short-term returns. TALL Miner understands this and, therefore, prioritizes user trust and builds a comprehensive security system.

TALL Miner strictly adheres to the compliance requirements of major global markets, with all operations and capital flows subject to oversight and scrutiny. Through compliant operations, the platform not only protects the legitimate rights and interests of investors but also establishes a strong brand reputation within the industry.

At TALL Miner, every unit of computing power and every profit is transparent and traceable: users can view computing power performance in real time through the app; profit settlement is automated, eliminating manual intervention; and the platform regularly publishes operational data reports, ensuring true transparency and verifiability. This transparency allows users to clearly understand their assets and provide greater peace of mind.

From beginners to experienced investors, TALL Miner offers a diverse range of mining contracts to meet the needs of diverse audiences. New users receive trial bonuses for a risk-free experience; experienced players enjoy efficient and stable long-term contracts. Every user receives professional customer support. As a result, TALL Miner has amassed a large number of real users worldwide, building a strong reputation and a foundation of trust.

Trustworthy is more than just a slogan; it’s TALL Miner’s long-term commitment.

Thanks to its compliant operations, security measures, transparent mechanisms, and user reputation, TALL Miner is becoming the most reliable choice in the global cloud mining market.

In the digital economy of 2025, choosing TALL Miner means choosing not only a platform but also peace of mind, stability, and a bright future.

For more information, please visit the official TALL miner website: http://tallive.com

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