Economy
NSE Index Grows 1.38% as GTBank Emerges Most Active Stock
By Modupe Gbadeyanka
In the just concluded at the Nigerian Stock Exchange (NSE), the All-Share Index (ASI) and market capitalization appreciated by 1.38 percent and 1.37 percent to close the week at 35,488.81 points and N12.234 trillion respectively.
Similarly, all other Indices finished higher during the week with the exception of NSE Consumer Goods and NSE Oil/Gas indices that depreciated by 0.23 percent and 3.05 percent while the NSE ASeM Index closed flat.
Also, 25 equities appreciated in price during the week, higher than 23 of the previous week, while 35 equities depreciated in price, lower than 45 equities of the previous week, and 111 equities remained unchanged higher than 104 equities recorded in the preceding week.
At the close of transactions this week, a total turnover of 1.096 billion shares worth N17.859 billion in 16,070 deals were traded this week by investors on the floor of the Exchange in contrast to a total of 896.618 million shares valued at N15.368 billion that exchanged hands last week in 17,048 deals.
The Financial Services Industry (measured by volume) led the activity chart with 880.597 million shares valued at N13.614 billion traded in 8,994 deals; thus contributing 80.33 percent and 76.23 percent to the total equity turnover volume and value respectively. The Industrial Goods Industry followed with 69.174 million shares worth N676.248 million in 881 deals.
The third place was occupied by Consumer Goods Industry with a turnover of 49.288 million shares worth N2.870 billion in 3,077 deals.
Trading in the Top Three Equities namely – Guaranty Trust Bank Plc, Access Bank Plc, Jaiz Bank Plc (measured by volume) accounted for 450.567 million shares worth N10.942 billion in 1,834 deals, contributing 41.11 percent and 61.27 percent to the total equity turnover volume and value respectively.
Also traded during the week were a total of 58 units of Exchange Traded Products (ETPs) valued at N90,475.00 executed in 5 deals compared with a total of 1,265 units valued at N145,720.20 transacted last week in 8 deals.
In addition, a total of 178 units of Federal Government Bonds valued at N163,407.05 were traded this week in 2 deals, compared with a total of 5,290 units valued at N5.030 million transacted last week in 15 deals.
By Adedapo Adesanya
The Nigeria Customs Service (NCS) is seeking a reduction in import duty exemptions, which rose to N34 trillion, limiting its ability to increase its revenue generation threshold.
The Comptroller-General of the Customs Service, Mr Adewale Adeniyi, disclosed that the value of import duty exemption certificate approvals increased to that level in 2025, describing the policy as one of the major factors restricting its revenue generation.
At an investigative session of the Senate Committee on Finance with revenue-generating agencies in Abuja on Monday, Mr Adeniyi explained that government fiscal policies have continued to impact the revenue-generating capacity of the Customs Service, both positively and negatively.
“The NCS would have generated significantly higher revenue over the years if not for government-approved import duty waivers and other external factors affecting collections,” he said.
He added that the Import Duty Exemption Certificate scheme, introduced in March 2020, accounted for about N34 trillion in approvals in 2025, with nearly 60 per cent covering duty-free importation of military hardware due to Nigeria’s prevailing security challenges.
Other government-backed duty waivers, he noted, covered the importation of Compressed Natural Gas (CNG), electric and hybrid vehicles, healthcare equipment and medical supplies, industrial machinery and manufacturing inputs, as well as food import intervention programmes.
While acknowledging the impact of the waivers on Customs revenue, Mr Adeniyi argued that fiscal policy should not be assessed solely on the basis of revenue generation but also on its broader economic and social objectives.
He, however, urged the federal government to establish stronger monitoring mechanisms to ensure beneficiaries of duty waivers deliver the intended economic outcomes, including lower consumer prices, increased local production and improved healthcare access.
The committee also expressed displeasure over the absence of several heads of government agencies invited to the hearing, including the Nigerian Civil Aviation Authority (NCAA), Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Industrial Training Fund (ITF), and the Federal Medical Centre (FMC), Jabi.
The Chairman of the Senate Committee on Finance, Mr Sani Musa, warned that the affected chief executives must appear at the committee’s next sitting or face severe sanctions under the Senate’s rules.
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By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange rose by 0.40 per cent on Monday, July 13, buoyed by buying interest in 11 Plc, Central Securities Clearing System (CSCS) Plc and UBN Property Plc, which offset the profit-taking in Food Concepts Plc, the parent company of Chicken Republic.
11 Plc gained N20.69 to end at N227.64 per share compared with last Friday’s price of N206.95 per share, CSCS Plc grew by N1.83 to N91.48 per unit from N89.65 per unit, and UBN Property Plc added 1 Kobo to sell at N1.81 per share versus N1.80 per share.
On the flip side, Food Concepts Plc depreciated by 24 Kobo to close at N2.45 per unit, in contrast to the preceding session’s N2.69 per unit.
As a result, the market capitalisation increased by N9.2 billion to N2.587 trillion from N2.578 trillion, and the NASD Security Index (NSI) improved by 15.33 points to 4,311.67 points from 4,296.34 points.
Yesterday, the volume of securities traded by investors surged by 615.9 per cent to 9.1 million units from the previous 1.3 million units, and the value of securities rose by 997.1 per cent to N320.4 million from the preceding session’s N29.2 million, while the number of deals decreased by 12.5 per cent to 28 deals from last Friday’s 32 deals.
At the close of trades, Great Nigeria Insurance (GNI) Plc remained the most active 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 73.9 million units exchanged for N5.2 billion.
GNI Plc also closed the session as the most traded stock by volume on a year-to-date basis, with 3.4 billion units sold for N8.4 billion, followed by Infracredit Plc with 2.3 billion units traded for N6.5 billion, and Resourcery Plc with 1.1 billion units transacted for N415.7 million.
