Economy
NPF Microfinance Bank Gains 50.85% in One Week
By Dipo Olowookere
Stocks of NPF Microfinance Bank Plc appreciated by 50.85 percent last week, closing at N1.78 per unit compared with N1.18 per unit it opened for the week.
The company was one of the 32 equities which appreciated in price during the week, lower than 39 equities in the previous week.
Other price rises in the week were Unilever Nigeria, which rose by 20.95 percent week-on-week to N12.70 per share and May & Baker, which appreciated by 20.93 percent to settle at N3.12 per share. McNichols gained 19.05 percent to close at 50 kobo per unit, while Eterna increased by 18.52 percent to finish at N2.56 per share.
On the flip side, UPDC was the worst performing stock last week, losing 13.04 percent to settle at 80 kobo per unit. The stock was among the 28 equities that depreciated in price, higher than 22 equities in the previous week.
CAP lost 9.83 percent to close at N20.65 per share, Arbico depreciated by 9.73 percent to finish at N2.32 per unit, Custodian Investment fell 9.52 percent to settle at N5.70 per share, while Afromedia declined by 8.82 percent to end at 31 kobo.
Business Post reports that in the week, 103 equities remained unchanged, higher than 102 equities recorded in the preceding week.
Last week, the All-Share Index (ASI) and market capitalisation both depreciated by 0.72 percent week-on-week to close at 23,871.33 points and N12.441 trillion respectively.
All other indices finished lower with the exception of main board, NSE CG, NSE Pension, NSE ASeM, NSE AFR Bank Value, NSE Meri Growth, consumer goods and oil/gas which appreciated by 1.29 percent, 1.52 percent, 0.74 percent, 0.36 percent, 1.65 percent, 4.76 percent, 2.25 percent and 1.56 percent respectively.
A look at the activity chart showed that a total of 926.4 million shares worth N9.8 billion in 20,910 deals were traded in the week by investors on the floor of the Nigerian Stock Exchange, in contrast to a total of 1.7 billion shares valued at N18.2 billion that exchanged hands the previous week in 28,791 deals.
The financial services industry led the activity chart with 676.1 million shares valued at N5.1 billion traded in 10,753 deals, contributing 72.98 percent and 51.73 percent to the total equity turnover volume and value respectively.
The conglomerates industry followed with 71.1 million shares worth N399.5 million in 445 deals, while consumer goods sector recorded a turnover of 48.8 million shares valued at N1.6 billion in 3,497 deals.
Trading in FBN Holdings, GTBank and Zenith Bank accounted for 335.1 million shares worth N4.1 billion in 4,885 deals, contributing 36.17 percent and 41.58 percent to the total equity turnover volume and value respectively.
By Adedapo Adesanya
The duo of Afriland Properties Plc and Geo-Fluids Plc crashed the NASD Over-the-Counter (OTC) Securities Exchange by a marginal 0.06 per cent on Wednesday, December 11 due to profit-taking activities.
The OTC securities exchange experienced a downfall at midweek despite UBN Property Plc posting a price appreciation of 17 Kobo to close at N1.96 per share, in contrast to Tuesday’s closing price of N1.79.
Business Post reports that Afriland Properties Plc slid by N1.14 to finish at N15.80 per unit versus the preceding day’s N16.94 per unit, and Geo-Fluids Plc declined by 1 Kobo to trade at N3.92 per share compared with the N3.93 it ended a day earlier.
At the close of transactions, the market capitalisation of the bourse, which measures the total value of securities on the platform, shrank by N650 million to finish at N1.055 trillion compared with the previous day’s N1.056 trillion and the NASD Unlisted Security Index (NSI) went down by 1.86 points to wrap the session at 3,012.50 points compared with 3,014.36 points recorded in the previous session.
The alternative stock market was busy yesterday as the volume of securities traded by investors soared by 146.9 per cent to 5.9 million units from 2.4 million units, as the value of shares transacted by the market participants jumped by 360.9 per cent to N22.5 million from N4.9 million, and the number of deals increased by 50 per cent to 21 deals from 14 deals.
When the bourse closed for the day, Geo-Fluids Plc remained the most active stock by volume (year-to-date) with 1.7 billion units valued at N3.9 billion, followed by Okitipupa Plc with 752.2 million units worth N7.8 billion, and Afriland Properties Plc 297.5 million units sold for N5.3 million.
Also, Aradel Holdings Plc, which is now listed on the Nigerian Exchange (NGX) Limited after its exit from NASD, remained the most active stock by value (year-to-date) with 108.7 million units sold for N89.2 billion, trailed by Okitipupa Plc with 752.2 million units valued at N7.8 billion, and Afriland Properties Plc with 297.5 million units worth N5.3 billion.
By Adedapo Adesanya
The euphoria around the recent appreciation of the Naira eased on Wednesday, December 11 after its value shrank against the US Dollar at the Nigerian Autonomous Foreign Exchange Market (NAFEM) by N5.23 or 0.3 per cent to N1,547.50/$1 from the N1,542.27/$1 it was valued on Tuesday.
It was observed that spectators’ activities may have triggered the weakening of the local currency in the official market at midweek as they tried to fight back and ensure the value of funds in foreign currencies strengthened.
The domestic currency was regaining its footing after the Central Bank of Nigeria (CBN) launched an Electronic Foreign Exchange Matching System (EFEMS) platform to tackle speculation and improve transparency in Nigeria’s FX market.
At midweek, the Nigerian currency depreciated against the Pound Sterling by N3.56 to close at N1,958.68/£1 compared with the preceding day’s N1,955.12/£1 and against the Euro, it slumped by 34 Kobo to trade at N1,612.66/€1, in contrast to the previous session’s N1,613.00/€1.
As for the black market segment, the Naira lost N45 against the American currency during the session to quote at N1,670/$1 compared with the N1,625/$1 it was traded a day earlier.
A look at the cryptocurrency market showed a recovery following profit-taking as the US Consumer Price Index report matched economist forecasts.
The news was enough to convince traders that the Federal Reserve is certain to trim its benchmark fed funds rate another 25 basis points at its meeting next week.
The move also saw Bitcoin (BTC), the most valued coin, return to the $100,000 mark as it added a 2.9 per cent gain and sold for $100,566.12.
The biggest gainer was Cardano (ADA), which jumped by 15.00 per cent to trade at $1.16, as Litecoin (LTC) appreciated by 10.4 per cent to sell for $121.76, and Ethereum (ETH) surged by 7.0 per cent to $3,929.30, while Dogecoin (DOGE) recorded a 6.7 per cent growth to finish at $0.4181.
Further, Binance Coin (BNB) went up by 5.2 per cent to $716.72, Solana (SOL) expanded by 4.6 per cent to $229.77, and Ripple (XRP) increased by 4.2 per cent to $2.43, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) closed flat at $1.00 apiece.
By Aduragbemi Omiyale
The Dangote Refinery located in the Lekki area of Lagos State has made its first export of premium motor spirit (PMS) just three months after it commenced the production of petrol.
In September 2024, the refinery produced its first petrol and began loading to the Nigerian National Petroleum Company (NNPC) on September 15.
However, due to some issues, the facility has not been able to flood the local market with its product, forcing it to look elsewhere.
In a landmark move for regional energy integration, Dangote Refinery has partnered with Neptune Oil to take its petrol to neighbouring Cameroon.
Neptune Oil is a leading energy company in Cameroon which provides reliable and sustainable energy solutions.
Dangote Refinery said this development showcases its ability to meet domestic needs and position itself as a key player in the regional energy market, adding that it represents a significant step forward in accessing high-quality and locally sourced petroleum products for Cameroon.
“This first export of PMS to Cameroon is a tangible demonstration of our vision for a united and energy-independent Africa.
“With this development, we are laying the foundation for a future where African resources are refined and exchanged within the continent for the benefit of our people,” the owner of Dangote Refinery, Mr Aliko Dangote, said.
His counterpart at Neptune Oil, Mr Antoine Ndzengue, said, “This partnership with Dangote Refinery marks a turning point for Cameroon.
“By becoming the first importer of petroleum products from this world-class refinery, we are bolstering our country’s energy security and supporting local economic development.
“This initial supply, executed without international intermediaries, reflects our commitment to serving our markets independently and efficiently.”
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