By Dipo Olowookere

The shares of Med-View Airline Plc, Capital Oil Plc, and Goldlink Insurance Plc have been delisted from the trading platform of the Nigerian Exchange (NGX) Limited.

This action followed the inability of the companies to meet the standards of the NGX for trading its securities.

In a notice, Customs Street delisted the equities of the publicly-quoted firms from Thursday, April 3, 2025, “on the grounds that they are operating below the listing standards of NGX, and their securities are no longer considered suitable for continued listing and trading in the market.”

It was stated that the removal of the three organisations was in compliance with the provisions of Clause 14 of the Amended Form of General Undertaking, for listing on Nigerian Exchange Limited General Undertaking.

This clause states that, “The exchange reserves the right to, at its sole and absolute discretion, suspend trading in any listed securities of the issuer, delist such securities, or remove the name of the issuer from the daily official list of the exchange with or without prior notice to the issuer, upon failure of the issuer to comply with any one or more of the provisions of this General Undertaking, or when in its sole discretion, The exchange determines that such suspension of trading or delisting is in the public interest, or otherwise warranted.”

Business Post reports that the last share price of Capital Oil on the Nigerian Exchange before its exit was 20 Kobo, Goldlink Insurance was also 20 Kobo, while Med-View Airline was N1.62.

By Dipo Olowookere

Investors bought and sold 1.183 billion stocks worth N28.868 billion in 42,397 deals on the floor of the Nigerian Exchange (NGX) Limited last week compared with the 7.521 billion stocks valued at N398.949 billion transacted a week earlier in 61,312 deals.

The bourse only opened for three trading days in the due to the public holiday declared by the Nigerian government on Monday, March 31, and Tuesday, April 1, 2025, to commemorate Eid el Fitr celebration after the one-month long Ramadan.

The market participants were mainly interested in financial stocks, especially as some of them churned out impressive financial performance in 2024, proposing dividends to shareholders.

Business Post reports that the sector led the activity chart in the three-day trading week with 906.590 million units sold for N18.926 billion in 22,876 deals, contributing 76.60 per cent and 65.56 per cent to the total trading volume and value, respectively.

The consumer goods shares recorded a turnover of 71.059 million units worth N 2.224 billion in 3,394 deals, and the services stocks traded 47.305 million units valued at N396.897 million in 2,132 deals.

The trio of Fidelity Bank, Zenith Bank, and Universal Insurance dominated the log with a turnover of 264.627 million shares worth N5.932 billion in 5,714 deals, contributing 22.36 per cent and 20.55 per cent to the total trading volume and value, respectively.

The biggest price gainer for the week was VFD Group with an appreciation of 20.76 per cent to N57.00, Union Dicon gained 19.59 per cent to finish at N5.80, Africa Prudential soared by 15.71 per cent to N15.10, NGX Group leapt by 11.90 per cent to N32.45, and UPDC REIT grew by 10.91 per cent to N6.10.

Conversely, UAC Nigeria lost 18.31 per cent to sell for N29.00, Sunu Assurances tripped by 13.38 per cent to N5.76, Universal Insurance depreciated by 13.33 per cent to 52 Kobo, Oando fell by 13.13 per cent to N42.00, and Consolidated Hallmark slipped by 12.85 per cent to N3.12.

At the close of trading in the week, 23 equities appreciated versus 43 equities in the previous week, 51 shares declined versus 36 shares a week earlier, and 73 stocks remained unchanged versus 71 stocks in the preceding week.

The All-Share Index (ASI) and the market capitalisation depreciated by 0.14 per cent and 0.17 per cent each to close the week at 105,511.89 points and N66.147 trillion, respectively.

In the same vein, all other indices closed lower except the corporate governance, banking, pension, AseM, AFR bank value, MERI value, sovereign bond and pension broad indices, which gained 0.13 per cent, 0.22 per cent, 0.22 per cent, 0.06 per cent, 1.02 per cent, 0.32 per cent, 0.12 per cent and 0.02 per cent, respectively while the commodity index closed flat.

By Adedapo Adesanya

Nigeria will focus on economic resilience and accelerating export diversification, the Minister of Industry, Trade and Investment, Mrs  Jumoke Oduwole, said in response to the United States’ new 14 per cent  reciprocal tariff on the country’s exports.

In a statement on Sunday, the Trade Minister said the nation would tackle this challenge with pragmatism, aiming to boost non-oil exports and strengthen economic resilience under President Bola Tinubu’s Renewed Hope Agenda.

Recall that last week, President Donald Trump slammed a 10 per cent baseline tariff on countries trading with the US. Nigeria received a 14 per cent levy and experts say this could affect its foreign exchange earnings as well as importation of wheat and cars.

Addressing the matter, Mrs Oduwole said the US remains a key partner, with bilateral trade reaching N31.1 trillion from 2015 to 2024.

“The Federal Government of Nigeria acknowledges the recent tariff measures announced by the Government of the United States of America, including imposing a 14% tariff on Nigerian exports,” she said.

“While these developments potentially impact global trade negatively, Nigeria remains firmly committed to building economic resilience and accelerating export diversification,” the Minister stated.

She highlighted the hurdles for non-oil exports.

“A new 10 per cent tariff on key categories may impact the competitiveness of Nigerian goods in the US.

“For businesses in the non-oil sector, these measures present destabilising challenges to price competitiveness and market access, especially in emerging and value-added sectors vital to our diversification agenda,” the minister explained.

“Government is implementing a range of interventions in policy, financing, infrastructure, and diplomacy to help Nigerian businesses remain competitive amidst regional and global tariff hikes,” Mrs Oduwole said as she outlined Nigeria’s response.

This includes seeking alternative markets and diversifying off-take to cut trade risks.

She detailed export trends, noting that, “Nigeria’s exports to the United States over the last 2 years has consistently ranged between $5–$6 billion annually.

“A significant portion—over 90 per cent—comprises crude petroleum, mineral fuels, oils, and gas products,” she said.

Non-oil items like fertilisers (2–3 per cent), lead (1 per cent, valued at $82 million), and agricultural goods (<2 per cent) face new pressures, especially those once exempt under the African Growth and Opportunity Act (AGOA), which was signed into law in 2000.

The Minister said Nigeria is also exploring ongoing diplomacy including consulting with US counterparts and the World Trade Organisation (WTO) to find mutually beneficial solutions.

“The US Ambassador’s visit to the Minister of Industry, Trade and Investment on March 26, 2025, reaffirmed our joint commitment to strengthening economic ties that benefit both economies,” she said.