Economy
Nigerian Shares Attract N38.445bn from Investors, Traders in One Week
By Dipo Olowookere
The local stock market opened last week for four days as result of the public holiday observed in Nigeria last Monday to celebrate Eid-el-Maulud.
This slightly affected the level of activity at the Nigerian Exchange (NGX) Limited during the four-day trading week.
A total of 1.860 billion shares worth N38.445 billion exchanged hands in 40,228 deals in the period under review compared with the 2.584 billion shares valued at N51.205 billion traded in 50,615 deals a week earlier.
Japaul, FBN Holdings and UAC Nigeria were the busiest equities on the NGX in the week, accounting for 728.034 million units valued at N10.029 billion transacted in 4,374 deals, contributing 39.14 per cent and 26.09 per cent to the total trading volume and value, respectively.
In terms of sectors, the financial services counter topped the activity chart with 820.815 million stocks worth N16.149 billion in 16,627 deals, contributing 44.13 per cent and 42.01 per cent to the total trading volume and value apiece, the energy index followed with 443.711 million equities worth N5.055 billion in 5,319 deals equities, and the conglomerates industry traded 183.729 million shares worth N2.971 billion in 2,510 deals.
Forty-one stocks appreciated last week compared with 52 equities of the previous week, 40 equities depreciated versus 31 equities a week earlier, and 70 shares remained unchanged versus 68 shares of the preceding were.
Caverton was the best-performing stock of the week with a price appreciation of 45.28 per cent to settle at N3.69, Fidelity Bank rose by 24.20 per cent to N13.60, Fidson appreciated by 21.76 per cent to N15.95, Vitafoam gained 21.55 per cent to quote at N22.00, and Meyer jumped by 20.93 per cent to N7.05.
Conversely, Northern Nigerian Flour Mills was the worst-performing equity after an 18.97 per cent loss to trade at N35.25, Mecure Industrial shrank by 18.18 per cent to close at N7.65, Tantalizers declined by 14.08 per cent to settle at 61 Kobo, RT Briscoe depleted by 12.88 per cent to N3.18, and Chapel Hill Denham Nigeria Infrastructure Debt Fund slumped by 9.93 per cent to N101.60.
In the week, the All-Share Index (ASI) and the market capitalisation appreciated by 0.81 per cent to 98,247.99 points and N56.457 trillion, respectively.
Also, all other indices finished higher apart from NGX MERI Value, consumer goods, industrial goods, growth and sovereign bond indices, which depreciated 0.34 per cent, 0.77 per cent, 0.13 per cent, 10.85 per cent, and 3.59 per cent, respectively, as the ASeM index remained unchanged.
By Adedapo Adesanya
The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, has called on state-owned enterprises to increase standards of transparency, ethics, and performance as Nigeria pushes to build a $1 trillion economy.
Speaking at the MOFI Corporate Governance Forum in Abuja, the Minister described the newly introduced MOFI Scorecard as a vital benchmark for institutional health, designed to position state-owned enterprises for investment, growth, and long-term value creation.
According to Mr Edun, this scorecard is not just a document; it’s a test, adding that strong governance attracts capital, builds trust, and delivers real economic returns.
The two-day forum, themed Ensuring Value Creation in State-Owned Enterprises Through Better Corporate Governance, brought together CEOs, regulators, and development partners to examine how better oversight can unlock Nigeria’s public asset potential.
Referencing entities like NNPC Limited, Mr Edun noted that state-owned enterprises must be investor-ready as the government shifts from debt-heavy budgets to equity-based growth.
He also pointed to positive macro signals and falling food and fuel prices as early signs of a stabilising economy.
On his part, MOFI Chairman, Mr Shamsudeen Usman, confirmed that the scorecard will be enforced through independent assessments, including MOFI itself.
“We are not asking others to do what we haven’t already done,” he said.
Backed by the World Bank, the initiative marks a shift in how Nigeria manages public wealth, with governance now central to growth, resilience, and investor confidence.
The introduction of the governance scorecard is a testament to the Federal Government’s commitment to transforming Nigeria’s economy. As the country moves forward, one thing is clear: transparency, accountability, and growth will be the guiding principles for state-owned enterprises.
By Adedapo Adesanya
The market capitalisation of the NASD Over-the-Counter (OTC) Securities Exchange rose by 1.70 per cent or N32.36 billion on Thursday, April 10, closing at N1.925 trillion, in contrast to the N1.892 trillion quoted at the preceding session.
However, the NASD Unlisted Security Index (NSI) went up by 10.46 points or 0.32 per cent to 3,287.85 points from the 3,277.39 points it ended a day earlier.
The market capitalisation was higher yesterday after admitting additional shares of Infrastructure Credit Guarantee Company Plc (InfraCredit) to the platform after regulatory approval. The firm joined the NASD Exchange on March 6.
The company, backed by the Nigerian sovereign wealth fund, added 11.166 million units to bring its volume to 26.421 million.
At the trading session, FrieslandCampina Wamco Nigeria Plc gained N1.91 to close at N38.50 per unit versus N36.59 per unit, Mixta Real Estate Plc rose by 41 Kobo to N4.55 per share from the previous closing value of N4.14 per share, Lagos Building Infrastructure Company (LBIC) Plc grew by 17 Kobo to N2.63 per unit from N2.80 per unit, and Paintcom Investment Plc improved by 2 Kobo to N10.74 per share from N10.72 per share, while Geo-Fluids Plc declined by 22 Kobo to N2.00 per unit from N2.22 per unit.
The volume of transactions surged by 9,665.9 per cent to 18.1 million units from 185,449 units, the value of transactions soared by 7,174.3 per cent to N192.9 million from N192.9 million, and the number of deals rose by 81.8 per cent to 20 deals from 11 deals.
Impresit Bakolori Plc ended the day as the most active stock by volume (year-to-date) for trading 533.9 million units worth N520.9 million, trailed by Industrial and General Insurance (IGI) Plc with 71.2 million units valued at N24.2 million, and Geo Fluids Plc with 44.6 million units sold for N90.2 million.
FrieslandCampina Wamco Nigeria Plc also remained as the most active stock by value (year-to-date) with 14.5 million units valued at N559.2 million, followed by Impresit Bakolori Plc with 533.9 million units worth N520.9 million, and Afriland Properties Plc with 17.8 million units sold for N365.0 million.
By Adedapo Adesanya
The Naira witnessed a depreciation of 1.05 per cent or N16.97 against the US Dollar at the Nigerian Autonomous Foreign Exchange Market (NAFEX) on Thursday, April 10, exchanging at N1,629.94/$1 compared with the previous day’s rate of N1,612.99/$1.
In the same official market, the Nigerian currency, however, traded flat against the Pound Sterling and the Euro during the session at N2,085.01/£1 and N1,805.64/€1, respectively.
As for the black market, the domestic currency depreciated against the greenback yesterday by N5 to sell for N1,620/$1, in contrast to the N1,615/$1 it was exchanged at midweek.
The Naira had stabilise on Wednesday in the spot market after President Donald Trump of the United States announced a 90-day pause on tariffs for more than 75 nations, including Nigeria, that did not retaliate to his sweeping duties announced a week ago.
However, China, which recently placed steeped retaliatory tariffs on US goods, did not get any relief, as Mr Trump hiked the total levy on Chinese goods to 125 per cent.
Market analysts raise worries about a secondary effect of a trade war between the US and China, and how it can have effected on other nations’ economies.
Even as the Central Bank of Nigeria (CBN) continued to prop up the local currency, in the last week, the Naira has exchanged between the N1,570 and N1,620 mark.
Meanwhile, the cryptocurrency market was mixed on Thursday after exchange-traded funds (ETFs) saw outflows even as prices surged after President Trump announced a 90-day pause in tariffs on most countries, excluding China.
The dwindling demand can be attributed to the macroeconomic uncertainty caused by the US-China trade tensions that has led to macro investors selling every asset, including crypto ETFs, for cash.
Litecoin (LTC) gained 1.9 per cent to trade at $75.88, Cardano (ADA) jumped by 1.4 per cent to $0.6321, Dogecoin (DOGE) appreciated by 0.3 per cent to $0.1575, and Solana (SOL) rose by 0.2 per cent to $116.94.
On the flip side, Ethereum (ETH) dropped 3.6 per cent to settle at $1,533.42, Bitcoin (BTC) shed 1.2 per cent to end at $81,017.23, Ripple (XRP) slumped by 0.2 per cent to $1.99, and Binance Coin (BNB) went south by 0.1 per cent to $579.45, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) remained unchanged at $1.00 each.
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