Economy
Nigerian Stocks Rebound After 0.09% Growth on Monday
By Dipo Olowookere
Transactions on the floor of the Nigerian Stock Exchange (NSE) closed bullish on Monday after bargain hunters stormed the market to deal with the bears, which have held a tight grip on the local bourse for days.
By the time the market closed for the day, it rebounded by 0.09 percent as a result of gains posted by Dangote Cement, Fidson Healthcare, UBA and eight other stocks.
This pushed the All-Share Index (ASI) higher by 23.66 points to settle at 26,557.44 points, and the market capitalisation higher by N11.5 billion to finish at N12.928 trillion.
Dangote Flour was the day’s highest price gainer as its stock rose by 80 kobo to finish at N23 per share, while Dangote Cement also appreciated by 80 kobo to end at N145 per share.
Fidson added 35 kobo to its share value to rise to N3.95 per share, UBA gained 10 kobo to settle at N6 per share, while Axa Mansard also grew by 10 kobo to close at N1.70 per unit.
Business Post reports that a total of eight equities depreciated at the market yesterday, with Global Spectrum Energy Services topping the chart after going down by 50 kobo to end at N4.70 per unit.
It was trailed by UAC Nigeria, which also fell by 50 kobo to finish at N6.65 per share, and Ecobank, which went down by 20 kobo to close at N7.20 per share. FBN Holdings lost 15 kobo to settle at N5.25 per unit, while United Capital depreciated by 10 kobo to close at N2.03 per unit.
A look at the activity level chart showed that the volume of shares traded by investors increased by 9.96 percent to 129.1 million from 117.4 million, while the value of the transactions rose by 82.46 percent to N2.7 billion from N1.5 billion.
A further analysis showed that Global Spectrum Energy Services was the most traded stock, closing with a turnover of 36.6 million units worth N172.0 million, while GTBank followed with 14.5 million shares sold for N387.3 million.
Transcorp exchanged 9.9 million equities valued at N10.0 million, Zenith Bank transacted 8.3 million shares worth N149.8 million, while FCMB exchanged 8.1 million units for N12.9 million.
A deeper look indicated that stocks in the financial services sector led the activity chart with 70.0 million shares worth N707 million, while equities in the services industry followed with 37.0 million units valued at N173 million.
Of the five sub-sectors of the market monitored by Business Post on Monday, the insurance index rose by 1.85 percent, while the industrial goods sector appreciated by 0.20 percent, with the energy index closing flat.
But the banking sector went down by 0.03 percent, while the consumers goods index also depreciated by 0.03 percent.
With the new pricing methodology in place since last Friday, the market is expected to maintain this positive momentum as investors adjust to the new regulations.
By Adedapo Adesanya
Central Securities Clearing System (CSCS) Plc kept the NASD Over-the-Counter (OTC) Securities Exchange in the green territory by 0.04 per cent on Friday, July 16.
The securities depository company added N2.50 to its share price to settle at N95.14 per unit from the preceding session’s N92.64 per unit.
However, FrieslandCampina Wamco Nigeria Plc slid during the session by N5.85 to N141.81 per share from N147.66 per share.
But when the bourse closed for the day, the market capitalisation increased by N1.08 billion to N2.593 trillion from N2.592 trillion, while the NASD Security Index (NSI) appreciated by 1.80 points to 4,320.67 points from 4,318.87 points.
During the session, the value of securities slid by 38.9 per cent to N63.5 million from N104.1 million, the volume of securities went down by 34.5 per cent to 1.2 million units from 4.8 million units, and the number of deals declined by 15.4 per cent to 33 deals from 39 deals.
Great Nigeria Insurance (GNI) Plc was the most traded 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 75.4 million units traded for N5.3 billion.
GNI Plc also ended the day as the most traded stock by volume on a year-to-date basis, with 3.4 billion units exchanged for N8.4 billion, followed by Infracredit Plc with 2.3 billion units sold for N6.5 billion, and Resourcery Plc with 1.1 billion units transacted for N415.7 million.
By Dipo Olowookere
The bulls regained control of the Nigerian Exchange (NGX) Limited on Friday after surrendering power to the bears a day earlier as a result of mild selling pressure.
Yesterday, the Nigerian bourse rebounded by 0.54 per cent, mainly due to the gains recorded by First Holdco and others.
Data harvested by Business Post indicated that the industrial goods and energy sectors were flat, while the banking index chalked up 3.13 per cent. The insurance space expanded by 1.08 per cent, and the consumer goods counter rose by 0.21 per cent.
Consequently, the All-Share Index (ASI) went up by 1,316.52 points to 243,462.13 points from 242,145.61 points, and the market capitalisation grew by N850 billion to N157.057 trillion from N156.207 trillion.
The market breadth index was bullish during the last trading session of this week, printing 31 appreciating stocks and 23 depreciating stocks, representing strong investor sentiment.
First Holdco led the advancers’ log after it climbed 9.97 per cent to N95.95, Haldane McCall appreciated by 9.94 per cent to N3.65, LivingTrust Mortgage Bank soared by 9.73 per cent to N3.72, LASACO Assurance jumped by 5.26 per cent to N2.00, and Thomas Wyatt gained 5.10 per cent to quote at N3.09.
On the flip side, Red Star Express declined by 9.50 per cent to N20.00, Omatek slipped by 6.08 per cent to N1.70, C&I Leasing shrank by 5.93 per cent to N5.55, Jaiz Bank crashed by 5.03 per cent to N8.50, and Livestock Feed fell by 3.89 per cent to N8.65.
As for the activity chart, market participants bought and sold 685.9 million equities for N42.7 billion in 44,134 deals on Friday versus the 498.5 million equities worth N34.9 billion traded in 39,484 deals on Thursday, implying a rise in the trading volume, value, and number of deals by 37.59 per cent, 22.35 per cent, and 11.78 per cent, respectively.
Investors’ darling for the day was First Holdco, with a turnover of 225.9 billion units valued at N21.0 billion, Guinea Insurance sold 53.4 million units for N45.2 million, Zenith Bank traded 41.5 million units worth N4.7 billion, Access Holdings exchanged 29.1 million units valued at N720.6 million, and UBA exchanged 27.5 million units for N1.2 billion.
By Modupe Gbadeyanka
The Africa Association of Professional Freight Forwarders and Logistics of Nigeria (APFFLON) has appealed to the Nigeria Customs Service (NCS) to deepen its sensitisation on the newly introduced Green Tax Surcharge Policy.
The chairman of APFFLON, Mr Akeem Ayobiojo, made this plea on behalf of his colleagues on Tuesday, July 14, 2026, at the Customs House in Abuja, during a stakeholders’ engagement with the agency.
He also called for improvements in the administration of Pre-Arrival Assessment Reports and Post Clearance Audit and the African Continental Free Trade Area (AfCFTA).
Mr Ayobiojo stated that freight forwarders were happy to work with the customs, commending the organisation for implementing Chapter 99, describing it as a major relief for manufacturers.
He, however, emphasised that a deeper understanding of the new tax was necessary for his members, saying more predictable procedures would reduce delays and unexpected costs for importers and freight forwarders.
In his remarks, the Comptroller-General of Customs, Mr Adewale Adeniyi, assured manufacturers, freight forwarders and other players in the nation’s trade sector that the NCS would continue to engage them on fiscal policies affecting their businesses, saying sustained dialogue remains key to resolving implementation challenges and improving the country’s trading environment.
He also promised them the service’s resolve to enhance and facilitate trade, acknowledging that, “Your feedback is important because it helps us understand what is happening in the field, and where necessary, we will take your concerns to the Federal Ministry of Finance and other relevant government institutions.”
Speaking about Authorised Economic Operator (AEO), Mr Adeniyi further explained that Nigeria would not lower the standards required under the Authorised Economic Operator Programme as the initiative is guided by global benchmarks established by the World Customs Organisation (WCO).
On her part, the Deputy Comptroller-General of Customs for Tariff and Trade, Ms Caroline Niagwan, clarified that electric vehicles can be imported without payment of duty only by holders of Import Duty Exemption Certificate (IDEC) issued by the Federal Ministry of Finance.
She also urged importers facing classification disputes to take advantage of the Advance Ruling system, noting, “Once an Advance Ruling is issued based on genuine documentation, importers have certainty on classification, valuation or origin before the goods arrive, thereby reducing unnecessary disputes during clearance.”
