Economy
Nigerian Equities Consolidate Gains on Tuesday with 2.46% Growth
By Dipo Olowookere
The Nigerian Stock Exchange (NSE) appreciated on Tuesday by 2.46 percent to extend its rally to the second trading session.
Business Post reports that at the market yesterday, the mood was very upbeat as investor appetite showed encouraging signs of improvement. This led to bargain hunting activities around large cap stocks at the market.
At the close of transactions, the market breadth ended positive with 42 price gainers and 15 price losers.
Apart from the oil and gas index which lost 0.56 percent on Tuesday, every other sector finished in the green territory.
NSEIND, NSEBNK10, NSEFBT10, and NSEINS10 all recorded respective gains of 3.21 percent, 3.19 percent, 2.70 percent, and 0.24 percent.
Nigerian Breweries was the biggest price gainer after increasing by N5.30k to finish at N111.30k per share.
It was followed by Dangote Cement, which rose by N5 to end at N228 per share, and Okomu Oil, which grew by N4 to settle at N84 per share.
International Breweries appreciated by N3 to end at N42 per share, while Lafarge went up by N1.65k to finish at N34.75k per share.
Conversely, Total Nigeria emerged the heaviest price loser yesterday with N8.70k of its share value lost to settle at N193.30k per share.
Presco trailed with 90 kobo of its value lost to finish at N70.35k per share, while UAC of Nigeria went down by 70 kobo to close at N14 per share.
Ecobank declined by 10 kobo to end at N19 per share, while NPF Microfinance Bank fell by 6 kobo to settle at N1.69k per share.
Despite the positive performance at the stock market on Tuesday, the value of equities traded by investors decreased by 15.20 percent, while the volume went up by 8.03 percent.
A total of 339.7 million equities exchanged hands on Tuesday in 4,436 deals worth N6 billion in contrast to the 314.4 million shares sold in 6,016 deals on Monday valued at N7 billion.
It was observed that the Financial Services sector led the activity chart with 296.3 million shares exchanged for N4.1 billion, while the Consumer Goods industry followed with 16.1 million shares transacted for N640 million.
Access Bank was investors’ toast at the market yesterday with a total of 133.1 million units sold for N1.4 billion.
It was trailed by GTBank, which traded 39.3 million units valued at N1.6 billion, and UBA, which exchanged 23.2 million units valued at N258.5 million.
Zenith Bank traded 20 million shares worth N533.3 million, while FBN Holdings sold 12.5 million equities valued at N136.7 million.
A look at the key market indicators showed that the All-Share Index (ASI) increased by 903.94 points to settle at 37,854.92 points, while the market capitalisation went up by N327.4 billion to finish at N13.712 trillion.
By Adedapo Adesanya
The Nigeria Customs Service (NCS) is seeking a reduction in import duty exemptions, which rose to N34 trillion, limiting its ability to increase its revenue generation threshold.
The Comptroller-General of the Customs Service, Mr Adewale Adeniyi, disclosed that the value of import duty exemption certificate approvals increased to that level in 2025, describing the policy as one of the major factors restricting its revenue generation.
At an investigative session of the Senate Committee on Finance with revenue-generating agencies in Abuja on Monday, Mr Adeniyi explained that government fiscal policies have continued to impact the revenue-generating capacity of the Customs Service, both positively and negatively.
“The NCS would have generated significantly higher revenue over the years if not for government-approved import duty waivers and other external factors affecting collections,” he said.
He added that the Import Duty Exemption Certificate scheme, introduced in March 2020, accounted for about N34 trillion in approvals in 2025, with nearly 60 per cent covering duty-free importation of military hardware due to Nigeria’s prevailing security challenges.
Other government-backed duty waivers, he noted, covered the importation of Compressed Natural Gas (CNG), electric and hybrid vehicles, healthcare equipment and medical supplies, industrial machinery and manufacturing inputs, as well as food import intervention programmes.
While acknowledging the impact of the waivers on Customs revenue, Mr Adeniyi argued that fiscal policy should not be assessed solely on the basis of revenue generation but also on its broader economic and social objectives.
He, however, urged the federal government to establish stronger monitoring mechanisms to ensure beneficiaries of duty waivers deliver the intended economic outcomes, including lower consumer prices, increased local production and improved healthcare access.
The committee also expressed displeasure over the absence of several heads of government agencies invited to the hearing, including the Nigerian Civil Aviation Authority (NCAA), Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Industrial Training Fund (ITF), and the Federal Medical Centre (FMC), Jabi.
The Chairman of the Senate Committee on Finance, Mr Sani Musa, warned that the affected chief executives must appear at the committee’s next sitting or face severe sanctions under the Senate’s rules.
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By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange rose by 0.40 per cent on Monday, July 13, buoyed by buying interest in 11 Plc, Central Securities Clearing System (CSCS) Plc and UBN Property Plc, which offset the profit-taking in Food Concepts Plc, the parent company of Chicken Republic.
11 Plc gained N20.69 to end at N227.64 per share compared with last Friday’s price of N206.95 per share, CSCS Plc grew by N1.83 to N91.48 per unit from N89.65 per unit, and UBN Property Plc added 1 Kobo to sell at N1.81 per share versus N1.80 per share.
On the flip side, Food Concepts Plc depreciated by 24 Kobo to close at N2.45 per unit, in contrast to the preceding session’s N2.69 per unit.
As a result, the market capitalisation increased by N9.2 billion to N2.587 trillion from N2.578 trillion, and the NASD Security Index (NSI) improved by 15.33 points to 4,311.67 points from 4,296.34 points.
Yesterday, the volume of securities traded by investors surged by 615.9 per cent to 9.1 million units from the previous 1.3 million units, and the value of securities rose by 997.1 per cent to N320.4 million from the preceding session’s N29.2 million, while the number of deals decreased by 12.5 per cent to 28 deals from last Friday’s 32 deals.
At the close of trades, Great Nigeria Insurance (GNI) Plc remained the most active stock by value on a year-to-date basis, with 3.4 billion units valued at N8.4 billion, followed by Infrastructure Credit Guarantee (Infracredit) Plc with 2.3 billion units worth N6.5 billion, and CSCS Plc with 73.9 million units exchanged for N5.2 billion.
GNI Plc also closed the session as the most traded stock by volume on a year-to-date basis, with 3.4 billion units sold for N8.4 billion, followed by Infracredit Plc with 2.3 billion units traded for N6.5 billion, and Resourcery Plc with 1.1 billion units transacted for N415.7 million.
