Connect with us


Nigerian Bourse Rebounds on Fresh Bargain Hunting



nigerian bourse

By Dipo Olowookere

Trading activities at the Nigerian bourse finished bullish on the last session of the week with a 0.13 per cent appreciation influenced by renewed bargain hunting in consumer goods stocks and others.

During the session, investors cherry-picked equities with good fundamentals but have traded at lower prices lately due to profit-taking and this action drove the All Share Index (ASI) of the Nigerian Exchange (NGX) Limited higher to 52,908.24 points and boosted the market capitalisation to N28.523 trillion.

Apart from the industrial goods sector, which marginally fell by 0.01 per cent, every other counter closed higher with the insurance space rising by 1.41 per cent. The consumer goods index rose by 1.05 per cent, the banking sector appreciated by 0.95 per cent, while the energy counter gained 0.53 per cent.

From the analysis of the market data, a total of 22 stocks appreciated in price on Friday while 16 equities depreciated in value, indicating a positive market breadth and a slightly strong investor sentiment.

NEM Insurance recorded the higher price increase, 9.95 per cent, closing at N4.20. Chams improved by 9.09 per cent to 24 kobo, Champion Breweries appreciated by 8.06 per cent to N3.89, Nigerian Breweries jumped by 7.06 per cent to N63.70, while Eterna climbed higher by 6.65 per cent to N7.70.

Conversely, UPDC REIT suffered the heaviest loss during the session as its value dropped 9.33 per cent to N3.40, Coronation Insurance fell by 4.55 per cent to 42 kobo, UAC Nigeria declined by 4.35 per cent to N11.00, Caverton crashed by 3.36 per cent to N1.15, while International Breweries decreased by 3.33 per cent to N7.25.

A look at the activity chart showed that UAC Nigeria was the most active stock as it sold 73.9 million shares valued at N812.9 million, FBN Holdings exchanged 53.1 million equities worth N596.8 million, Transcorp traded 43.9 million stocks valued at N56.4 million, UPDC REIT sold 12.4 million equities worth N43.4 million, while Zenith Bank transacted 9.8 million shares valued at N228.5 million.

At the close of business, a total of 283.0 million stocks valued at N3.4 billion exchanged hands in 4,245 deals compared with the 274.4 million stocks worth N4.0 billion traded in 5,011 deals a day earlier, representing an increase in the trading volume by 3.11 per cent and a decline in the trading value and the number of deals by 16.30 per cent and 15.29 per cent respectively.

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



  1. Pingback: Nigerian Bourse Rebounds on Fresh Bargain Hunting - eNaira Online News

  2. Pingback: ตลาดหุ้นไนจีเรียฟื้นตัวจากการตามล่าต่อรองใหม่ – CryptoDol ประเทศไทย

  3. Pingback: 나이지리아 주식 시장은 새로운 바겐 세일 사냥으로 회복됩니다. – CryptoDol 대한민국

  4. Pingback: Nigeriaanse beurs herstelt op nieuwe koopjesjacht – CryptoDol Norge

  5. Pingback: بازار سهام نیجریه با شکار معامله جدید بهبود یافت – CryptoDol ایران

  6. Pingback: Bursa nigeriană își revine după o nouă vânătoare de chilipiruri – CryptoDol România

  7. Pingback: Der nigerianische Aktienmarkt erholt sich von einer neuen Schnäppchenjagd – CryptoDol Deutschland

  8. Pingback: A nigériai tőzsde fellendült az új alkura – CryptoDol Magyarország

  9. Pingback: Mercado de ações nigeriano se recupera em busca de novas pechinchas – CryptoDol brasil

  10. Pingback: Нигерийската фондова борса се възстановява след търсене на нова изгодна сделка – CryptoDol България

  11. Pingback: Il mercato azionario nigeriano si riprende dopo una nuova caccia all’affare – CryptoDol Italia

  12. Pingback: يتعافى سوق الأسهم النيجيري بعد البحث عن صفقة جديدة – CryptoDol عرب

  13. Pingback: Нігерійський фондовий ринок відновлюється після полювання за новими угодами – CryptoDol Україна

  14. Pingback: Nigērijas akciju tirgus atgūstas, meklējot jaunus darījumus – CryptoDol Latvija

  15. Pingback: Nigerian osakemarkkinat toipuvat uusien tarjousten metsästykseen – CryptoDol Suomi

  16. Pingback: Nigérijský akciový trh sa zotavuje po novej honbe za výhodnými cenami – CryptoDol Slovensko

  17. Pingback: Pasar saham Nigeria pulih pada perburuan barang murah baru – CryptoDol Indonesia

  18. Pingback: Nigerianska börsen återhämtar sig efter ny fyndjakt – CryptoDol Sverige

  19. Pingback: Le marché boursier nigérian se redresse grâce à une nouvelle chasse aux bonnes affaires – CryptoDol La France

  20. Pingback: Nigerijos akcijų rinka atsigauna dėl naujų sandorių medžioklės – CryptoDol Lietuva

  21. Pingback: Nigeryjska giełda odzyskuje siły po nowym polowaniu na okazje – CryptoDol Polska

  22. Pingback: Фондовый рынок Нигерии восстанавливается после новой охоты за скидками – CryptoDol Россия

Leave a Reply


I am Leaving Nigeria Better in 2023 Than in 2015—Buhari



Buhari leaving Nigeria better in 2023

By Adedapo Adesanya

President Muhammadu Buhari has claimed that he is leaving Nigeria better in 2023 than when his administration came into power in 2015.

The outgoing president said this when he addressed the nation in a farewell broadcast on Sunday morning, ahead of his exit from power on Monday, May 29.

President Buhari will on Monday hand over power to the president-elect, Mr Bola Ahmed Tinubu, who was declared the winner of the February 25 election by the Independent National Electoral Commission (INEC).

In his address, the President expressed his gratitude to Nigerians and explained the thinking behind some of his administration’s key decisions.

Read the full text of his broadcast below:


My fellow Nigerian brothers, sisters and friends of Nigeria.

2. I address you today, in my last assignment as a democratically elected President of our great and well endowed nation, with a deep sense of gratitude to God, a great deal of appreciation to the Nigerian people and a modest sense of fulfilment.

3. Today we mark and celebrate another peaceful transition of power from one elected government to another in our steady march to improve and sustain Nigeria’s democracy.

4. This year we witnessed the most keenly contested presidential elections since the First Republic and this demonstrates that our democracy is getting better and more entrenched with each election.

5. We must as a nation improve and sustain gains we make in the electoral process, on an incremental basis for Nigeria to take its rightful place among nations.

6. Our democracy provides for, allows and encourages seeking redress for any perceived injustices, enabling some candidates and political parties that did not agree with the results to go to court.

7. Irrespective of the outcome of the various cases, I urge all parties involved to accept the decision of our courts and join hands to build a better Nigeria.

8. I salute the doggedness and resilience of all the Presidential Candidates and their political parties for believing in our judicial system by taking their grievances with the election results to court.

9. In the course of the campaigns, we had argued and disagreed on how to make Nigeria better but we never disagreed or had any doubts that Nigeria has to be better.

10. As your President, I call on all of us to bring to bear the strength of our individualism, the power of our unity, the convictions of our beliefs to make Nigeria work better and together with one spirit and one purpose.

11. To my brother, friend and fellow worker in the political terrain for the past ten years – Asiwaju Bola Ahmed Tinubu -, I congratulate you on the realisation of your dream, which was propelled by a burning passion to put Nigeria amongst the leading nations of the world.

12. You have indeed worked for this day and God has crowned your efforts. I have no doubt that your passion for excellence, reliance on competence, fairness in relationships, commitment to equity, loyalty to the country and desire for Nigeria to be globally relevant would come through for you, under God’s guidance, as you lead our country to levels higher that I am leaving.

13. You are the best candidate among all the contestants and Nigerians have chosen well.

14. The last eight years have been an exciting experience in my desire and commitment to see a Nigeria in which public goods and services are available, and accessible within a united, peaceful and secure nation.

15. Fellow Nigerians, on the strength of your over-whelming support for me and my political party, I started this journey with a great deal of promise and expectation from you. I never intended to be just politically correct but to do the correct things that will make meaningful impact on the lives of the common Nigerian.

16. This high expectation was not misplaced because, like the ordinary Nigerian, I had grown tired of watching the country progressively moving away from the path of correctness.

17. To ensure that our democracy remains resilient and our elected representatives remain accountable to the people, I am leaving behind an electoral process which guarantees that votes count, results are credible, elections are fair and transparent and the influence of money in politics reduced to the barest minimum. And Nigerians can elect leaders of their choice.

18. We are already seeing the outcome of this process as it provided an even playing field where persons without any political God-Father or access to money defeated other well-resourced candidates.

19. The Nigerian economy has become more resilient due to the various strategies put in place to ensure that our economy remained afloat during cases of global economic downturns.

20. You would all recall the supply chain disruptions and economic downturn that the world witnessed between 2020 and 2022 as a result of the COVID-19 pandemic. The deftness of our response to the pandemic still remains a global best practice.

21. Furthermore, we increased the ability of the poor and rural Nigerians to earn a living, provided more food for millions in our villages and gave our women opportunities to earn a living.

22. Young men and women in urban centres were also supported to put their skills into productive use. Our administration also provided an enabling environment for the private sector to engage in businesses for which their return on investments is guaranteed.

23. The private sector proved a strong partner in our drive to build a resilient and sustainable economy as evidenced by the growing number of turn-key projects in various sectors of the economy.

24. In the course of revamping the economy, we made some difficult choices, most of which yielded the desired results. Some of the measures led to temporary pain and suffering for which I sincerely apologised to my fellow countrymen, but the measures were taken for the overall good of the country.

25. Mindful of the need to ensure adequate infrastructure to drive economic growth, we completed age-long projects and processes notably amongst which are the Petroleum Industry Act, completion of some power projects, completion of the second Niger bridge and various important roads linking cities and states.

26. Our battle to ensure that all Nigerians live in a safe and secure environment has achieved considerable results. As I complete my term in office, we have been able to reduce the incidences of banditry, terrorism, armed robbery and other criminal activities considerably.

27. To sustain the gains made so far, I call on all Nigerians to be more vigilant and support the security agencies by ensuring that our values defined by being your brothers’ keeper govern our actions.

28. Up-till now, I still grieve for our children still in captivity, mourn with parents, friends and relatives of all those that lost loved ones in the days of the senseless brigandage and carnage. For all those under unlawful captivity, our security agencies are working round the clock to secure their release unharmed.

29. Fellow Nigerians, you know how dear the desire in my heart to rid the country of corrupt practices that had consistently diminished our efforts to be a great country.

30. I did pursue this commitment relentlessly, in spite of the expected pushback. I am happy that considerable progress had been made in repatriating huge sums of money back to the country and also taking over properties illegally acquired from our commonwealth.

31. To improve service delivery, we began the implementation of a number of reforms aimed at producing an Efficient, Productive, Incorruptible and Citizen-oriented (EPIC) Federal Civil Service and the results are beginning to show.

32. On the international scene, Nigeria’s influence continues to grow as exemplified by notable Nigerians occupying headship and leadership positions in renowned global bodies.

33. Our democracy is built on and continues to thrive on the principles of separation of powers. The leadership and members of the National Assembly deserve my appreciation for their patriotism which did not detract from their roles as a check to the executive arm.

34. I also want to use this opportunity to express my appreciation to a good number of Nigerians who provided their support and encouragement to help me navigate the exciting journey in moving Nigeria forward.

35. I cannot and will not forget the millions who prayed for me during my illness in my first term of office. I am constantly praying for you and for Nigeria to thrive in peace.

36. As I retire home to Daura, Katsina State, I feel fulfilled that we have started the Nigeria Re-Birth by taking the initial critical steps and I am convinced the in-coming administration will quicken the pace of this walk to see a Nigeria that fulfills its destiny to be a great nation.

37. I am confident that I am leaving office with Nigeria better in 2023 than in 2015.

38. I thank you all. And may God Bless the Federal Republic of Nigeria.

Continue Reading


Nigerian Exchange Rebounds by 0.20% on Renewed Bargain Hunting



Nigerian Exchange Limited

By Dipo Olowookere

Renewed bargain hunting triggered a 0.20 per cent rebound on the floor of the Nigerian Exchange (NGX) Limited on Friday as investors look forward to Monday’s swearing-in of Mr Bola Tinubu as the next President of Nigeria.

Investor sentiment improved yesterday as the stock exchange finished with 42 price gainers and 11 price losers, indicating a positive market breadth index.

NASCON topped the gainers’ chart after it appreciated by 10.00 per cent to N15.40, Conoil rose by 9.98 per cent to N47.95, NEM Insurance improved by 9.95 per cent to N4.75, NCR Nigeria increased by 9.68 per cent to N3.06, and FTN Cocoa chalked up 9.68 per cent to 68 Kobo.

On the flip side, Sovereign Trust Insurance lost 7.69 per cent to finish at 36 Kobo, Mutual Benefits depreciated by 5.56 per cent to 34 Kobo, NGX Group declined by 4.04 per cent to N27.35, Royal Exchange depleted by 4.00 per cent to 48 Kobo, and Tantalizers fell by 3.85 per cent to 25 Kobo.

The insurance counter recorded the biggest gain during the session after it closed 2.40 per cent higher, the banking sector rose by 2.14 per cent, the energy index rose by 1.05 per cent, the consumer goods counter expanded by 0.41 per cent, while the industrial goods sector depreciated by 0.88 per cent.

Consequently, the All-Share Index (ASI) increased by 152.28 points to 52,973.88 points from 52,821.60 points, and the market capitalisation grew by N83 billion to N28.845 trillion from N28.762 trillion.

During the session, investors transacted 461.8 million stocks worth N7.7 billion in 6,520 deals compared with the 377.1 million stocks worth N9.2 billion traded in 5,879 deals on Thursday, representing a decline in the trading value by 16.30 per cent and an increase in the trading volume and the number of deals by 22.46 per cent, and 10.90 per cent apiece.

UBA sold the most stocks on Friday (59.4 million units), Access Holdings traded 51.5 million shares, Zenith Bank exchanged 50.0 million equities, GTCO traded 41.0 million stocks, and Transcorp transacted 29.7 million shares.

Continue Reading


Geo-Fluids Triggers 0.12% Appreciation at NASD OTC Bourse




By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange appreciated by 0.12 per cent on Friday, May 26, following the upward movement in the price of Geo-Fluids Plc.

The company, which is the most traded stock by volume at the exchange in the year so far, closed the session as the sole price mover after it gained 28 Kobo to finish at N3.08 per share versus the previous closing price of N2.80 per share.

This pushed the total value of the NASD OTC bourse higher by N1.19 billion at the close of business to N1.002 trillion from N1.001 trillion, as the market index, NASD Unlisted Securities Index (NSI), increased by 0.86 points to wrap the session at 724.12 points compared with the 723.26 points recorded at the previous session.

There was a surge in the volume of securities traded at the bourse by 125.6 per cent at the final trading session of the week, as investors exchanged 117,100 units, in contrast to the 51,910 units traded at the preceding session.

In the same vein, the value of shares traded yesterday went higher by 1,603.4 per cent as the total equities traded amounted to N4.2 million versus the N245,560.00 recorded a day earlier.

These transactions were completed in six deals compared with the seven deals carried out in the previous trading session, representing a decline of 14.3 per cent.

Geo-Fluids Plc remained the most traded stock by volume (year-to-date) with 832.1 million units valued at N1.3 billion, Industrial and General Insurance (IGI) Plc stood in second place with 627.7 units worth N49.4 million, while UBN Property Plc was in third place with 390.9 million units valued at N332.0 million.

Similarly, VFD Group Plc was the most traded stock by value (year-to-date) with 10.6 million units worth N2.4 billion, Geo-Fluids Plc followed with 832.1 million units valued at N1.3 billion, as FrieslandCampina Wamco Nigeria Plc remained in third place with 12.4 million units worth N874.5 million.

Continue Reading
%d bloggers like this: