Economy
Northern Nigeria Flour Mills, Others Pull Down NGX by 0.34%
By Dipo Olowookere
The Nigerian Exchange remained in the bears’ territory on Monday after it further shrank by 0.34 per cent due to continued profit-taking by investors.
The absence of a positive market trigger compounded the woes of Customs Street on the first trading session of the week.
Business Post observed that all the key sectors of the bourse suffered sell-offs during the trading day, though the commodity space closed flat.
The banking sector depreciated by 1.44 per cent, the insurance counter went down by 0.86 per cent, the energy index declined by 0.27 per cent, the consumer goods sector plunged by 0.15 per cent, and the industrial goods industry slumped by 0.07 per cent.
At the close of business, the All-Share Index (ASI) was down by 370.43 points to 108,126.97 points from 108,497.40 points and the market capitalisation tumbled by N230 billion to close at N67.384 trillion versus the previous session’s N67.614 trillion.
Investor sentiment was bearish yesterday after the NGX ended with 17 price gainers and 37 price losers, representing a negative market breadth index.
Northern Nigeria Flour Mills lost 9.99 per cent to trade at N72.55, Eunisell declined by 9.96 per cent to N10.85, Sovereign Trust Insurance weakened by 9.09 per cent to N1.20, Secure Electronic Technology plunged by 7.46 per cent to 62 Kobo, and UPDC REIT slipped by 6.67 per cent to N6.30.
Conversely, Ikeja Hotel gained 10.00 per cent to settle at N12.10, UH REIT expanded by 9.97 per cent to N40.25, PZ Cussons appreciated by 9.26 per cent to N29.50, Consolidated Hallmark went up by 8.85 per cent to N4.18, and DAAR Communications improved by 8.82 per cent to 74 Kobo.
The level of activity increased on Monday, with the trading volume, value, and number of deals going up by 13.34 per cent, 9.52 per cent, and 19.25 per cent, respectively.
This was because investors bought and sold 357.8 million shares worth N9.2 billion in 15,914 deals yesterday versus the 315.7 million shares valued at N8.4 billion traded in 13,345 deals last Friday.
Jaiz Bank topped the activity chart with 48.2 million stocks valued at N161.6 million, Zenith Bank sold 28.2 million equities for N1.4 billion, Universal Insurance traded 18.7 million shares worth N12.7 million, GTCO exchanged 17.9 million shares worth N1.1 billion, and Access Holdings transacted 15.5 million equities valued at N403.6 million.
By Aduragbemi Omiyale
One of the paint makers in Nigeria, Premier Paints Plc, is currently in talks with a new investor, Xenergi Limited, for the purchase of 51 per cent stake in the company.
Xenergi Limited intends to acquire shares of Clover Global Resources Limited and TGHL Capital Limited in the organisation.
Business Post gathered that the new investor will buy 39.02 per cent from Clover Global Resources Limited and 15.20 per cent from TGHL Capital Limited.
The deal, according to a regulatory notice issued on Tuesday on the Nigerian Exchange (NGX) Limited, will involve about 63 million shares of Premier Paints.
At the current share price of the paint producer, this should be about N630 million as it closed at N10.00 per unit on NGX on December 16, 2025.
“Subject to obtaining required regulatory approvals, the transaction is expected to close before January 31, 2026.
“The company will continue to inform the public of the progress of the transaction,” the disclosure signed by the company secretary, Alozie Nwokoro, said.
By Adedapo Adesanya
The Naira was flat against the US Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEX) on Tuesday, December 16, retaining the previous closing value of N1,451.82/$1.
In the same vein, the local currency saw no movement against the Pound Sterling and the Euro in the spot market during the session at N1,943.98/£1 and N1,705.74/€1, respectively.
Also, the Nigerian Naira remained unchanged in the black market yesterday at N1,475/$1 and was N1,460/$1 at the GTBank forex counter.
The Central Bank of Nigeria (CBN) has strengthened US Dollar supply with $250 million to authorised dealer banks at the official window cumulatively as foreign portfolio investors, exporters and non-bank corporate supply dripped.
The spread between official and other non-regulated markets decreased to N30.59$/1 from N44.57/$1, from the previous week, research subsidiary of Coronation Merchant Bank Limited said in a report.
FX analysts said foreign exchange inflows through the Nigerian Foreign Exchange Market decreased to $716.3 million from $844.70 million in the previous week , a 15 per cent drop in a week.
Foreign portfolio investors accounted for the highest share of inflows at 32.98 per cent, followed by exporters at 30.84 per cent, the CBN (17.36 per cent), Non-bank Corporates (16.94 per cent), others (0.72 per cent) and Individuals (0.63 per cent).
On Monday, Nigeria’s headline inflation rate eased to 14.45 per cent in November 2025, down from 16.05 per cent recorded in October, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics (NBS), representing a decrease of 1.6 percentage points month-on-month and marks a significant moderation compared to the same period last year.
As for the cryptocurrency market, there was some recoveries after overall capitalization falling below $3 trillion for the third time in a month. Large-cap assets, particularly those with Exchange Traded Fund (ETF) exposure, are experiencing selling pressure as institutional investors reassess risk.
Ripple (XRP) appreciated by 1.5 per cent to $1.92, Litecoin (LTC) expanded by 1.5 per cent to $78.91, Dogecoin (DOGE) rose by 0.8 per cent to $0.1308, Solana (SOL) went up by 0.4 per cent to $127.60, Binance Coin (BNB) grew by 0.3 per cent to $865.40, and Bitcoin (BTC) gained 0.2 per cent to sell at $86,735.17.
On the flip side, Cardano (ADA) depreciated by 1.0 per cent to $0.3802 and Ethereum (ETH) slumped by 0.4 per cent to $2,935.85, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) were flat at $1.00 each.
By Dipo Olowookere
A marginal 0.01 per cent rise was recorded by the Nigerian Exchange (NGX) Limited on Tuesday. This was different from the flattish mode of the market the previous day.
Investor sentiment remained bullish as Customs Street finished with 31 price gainers and 26 price losers, implying a positive market breadth index.
Aluminium Extrusion topped the gainers’ log after it improved its price by 10.00 per cent to N9.35, Guinness Nigeria appreciated by 9.98 per cent to N263.40, Multiverse expanded by 9.95 per cent to N12.15, MeCure Industries also soared by 9.95 per cent to N45.85, and Sovereign Trust Insurance advanced by 9.89 per cent to N4.11.
Conversely, Haldane McCall led the losers’ chart after it shed 9.93 per cent to settle at N3.72, Veritas Kapital lost 9.09 per cent to close at N1.60, LivingTrust Mortgage Bank also declined by 9.09 per cent to N3.50, and Linkage Assurance depreciated by 5.71 per cent to N1.65.
During the trading day, the All-Share Index (ASI) went up by 21.23 points to 149,459.11 points from the previous day’s 149,437.88 points and the market capitalisation increased by N14 billion to N95.281 trillion from N95.267 trillion.
Yesterday, traders transacted 1.0 billion equities for N21.8 billion in 23,701 deals compared with the 553.1 million equities valued at N13.3 billion traded in 28,907 deals on Monday, representing a decline in the number of deals by 18.01 per cent, and a surge in the trading volume and value by 80.80 per cent and 63.91 per cent apiece.
Access Holdings traded 385.8 million stocks worth N7.7 billion, Champion Breweries transacted 111.8 million shares valued at N817.8 million, Sterling Holdings exchanged 85.5 million equities for N589.9 million, FCMB sold 74.7 million shares valued at N791.5 million, and First Holdco transacted 51.9 million equities worth N1.8 billion.
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