Economy
Okonwo-Iweala Advises Nigeria to Move from Stabilisation to Job Creation
By Adedapo Adesanya
The Director-General of the World Trade Organisation, Mrs Ngozi Okonjo-Iweala, has advised the Nigerian government to position recent stabilisation results to drive job creation for Nigerians.
She made the remarks on Wednesday at Nigeria House during the ongoing World Economic Forum (WEF) in Davos.
The former Nigerian Minister, in her presentation at a panel discussion titled From Scale to Capital: Financing Nigeria’s Role as Africa’s Digital Trade and Infrastructure Anchor, stressed that rising geopolitical tensions, particularly between the United States and China, have accelerated supply chain diversification.
“Firms are increasingly adopting China+1 sourcing strategies to reduce single-country risk, although China remains deeply embedded in many global value chains.
“In addition, tariffs and trade restrictions have incentivised companies to reconsider reliance on dominant suppliers, prompting the relocation or diversification of production hubs,” she said.
According to her, these disruptions present an opportunity for Nigeria to capture a share of global supply chains.
She, however, noted that this would require aggressive marketing of the country to prospective investors.
“As you said, some good reforms are being pursued right now. I think they need to yield to job creation. That was what I said to His Excellency [President Bola Tinubu]—that we need to move from stabilisation to job creation, because that is where we are lacking. It is not going to be overnight, but they are moving in the right direction. What I think they need to do is map where the opportunities are.
“What I would like to see is a continued effort to attract investment into the country, because there is an opportunity now to attract these supply chains. If there is one thing I would say, it is that everything we can do to showcase Nigeria as a country worthy of investment is what we should be doing.
“And we should deliberately have strategies to go after those investments and investors, to go to China, the US, whatever it takes, to come and invest in our country. As companies seek to diversify supply chains, a lot of that movement is still within Asia.
“Diversification is moving from China but still within Asia, and India is another destination. We should attract a sizeable chunk of that. I’m not saying all.
“Let’s build solar panels in Nigeria. We are importing, but we can also manufacture. We have the renewable capacity. In fashion, let them come to invest. Every time I buy a piece of wax (textile), I check to see where it’s made.
“Let’s attract investment to make it at home rather than elsewhere. Many of the shiny new textiles we are wearing now are not made in Nigeria; a lot of them are imported,” she said.
By Dipo Olowookere
The All-Share Index (ASI) of the Nigerian Exchange (NGX) Limited contracted by 0.25 per cent week-on-week last week to 249,712.37 points, and compressed the market capitalisation by 0.23 per cent to N160.077 trillion.
This was due to profit-taking, which also caused all other indices to finish lower except for CG, premium, banking, pension, AFR Bank Value, MERI growth, energy, growth and commodity indices, which appreciated by 0.24 per cent, 0.33 per cent, 1.11 per cent, 0.19 per cent, 1.47 per cent, 0.33 per cent, 0.07 per cent, 1.57 per cent and 0.02 per cent, respectively. The sovereign bond index was flat in the week.
Data from Customs Street showed that 38 equities appreciated during the week versus 74 equities in the previous week, 55 shares depreciated versus 24 shares of the preceding week, and 53 stocks remained unchanged versus 48 stocks a week earlier.
ABC Transport gained 44.82 per cent to trade at N9.08, Academy Press improved by 29.79 per cent to N9.15, University Press grew by 28.00 per cent to N6.40, International Energy Insurance appreciated by 22.22 per cent to N3.41, and Learn Africa jumped 18.89 per cent to N12.90.
Conversely, Sovereign Trust Insurance lost 22.45 per cent to settle at N2.28, Trans-Nationwide Express moderated by 18.98 per cent to N5.72, CAP depleted by 14.85 per cent to N199.00, Berger Paints slumped by 12.64 per cent to N147.60, and RT Briscoe slipped by 11.18 per cent to N14.06.
Business Post reports that market participants traded 3.875 billion shares worth N161.757 billion in 334,745 deals in the five-day trading week versus the 7.772 billion shares valued at N374.040 billion traded in 402,945 deals in the previous week.
Financial stocks led the activity chart with 2.410 billion units sold for N69.712 billion in 126,919 deals, contributing 62.19 per cent and 43.10 per cent to the total trading volume and value, respectively.
Services equities recorded a turnover of 409.306 million units worth N5.409 billion in 25,908 deals, and energy shares exchanged 294.859 million units valued at N31.496 billion in 26,738 deals.
Sterling Holdings, Fidelity Bank, and Access Holdings accounted for 1.092 billion units worth N19.527 billion in 21,683 deals, contributing 28.18 per cent and 12.07 per cent to the total trading volume and value, respectively.
By Adedapo Adesanya
Financial educator and coach, Mrs Wemimo “Wems BO” Bolu-Opaniran, is set to host the maiden edition of the Wems BO Personal Finance Retreat 1.0, a weekend event aimed at helping participants improve their financial literacy and develop practical money management skills.
According to a statement, the retreat is designed to make personal finance engaging and accessible through interactive sessions, games, networking opportunities, and one-on-one coaching sessions.
The organisers said the event will focus on providing attendees with practical and actionable financial knowledge rather than conventional lecture-style teaching.
“Come and unravel financial wisdom and leave with a practical and concrete action plan,” the organisers stated in a statement.
Activities lined up for the retreat include interactive finance sessions, networking opportunities, personal finance workbooks, games and activities, food and souvenirs, as well as three months of exclusive access to the event replay.
Speaking on the rationale for organising the event, Wems BO noted that lack is primarily not always the reason people have bad finances, but often, money culture is.
“The way one sees and treats money has been a development from years and decades past. So, what to do about money is not the solution. It is mindset, defaults and motivations shaping decisions.
The solution is an inner inquiring on why you do what you do, beyond money. Understanding who you are, then beginning to drive decisions that make you grow, manage and scale your finances in a way that aids the life you want,” she told Business Post.
Participants will also have the opportunity to receive one-on-one coaching with the finance guru.
The event is scheduled to be held from Friday, July 17 to Saturday, July 18, 2026, at an in-house venue on Lagos Mainland.
Ticket prices were pegged at N40,000 for individual attendees and N76,000 for duo tickets, with organisers noting that limited slots remain available.
Interested participants can register through the official registration link.
By Adedapo Adesanya
A 0.91 per cent growth was recorded by the NASD Over-the-Counter (OTC) Securities Exchange on Friday, May 22, after the share prices of four securities ended in green.
According to data, FrieslandCampina Wamco Plc went up by N15.61 to N179.67 per share from N164.06 per share, Newrest Asl Plc grew by N6.11 to N67.26 per unit from N61.15 per unit, Food Concepts Plc appreciated by 17 Kobo to N2.75 per share from N2.58 per share, and Nitrox Industrial Gases Plc added 6 Kobo to sell at N25.50 per unit compared with the previous day’s N25.44 per unit.
At the close of business, the market capitalisation chalked up N23.22 billion to settle at N2.561 trillion versus Thursday’s N2.538 trillion, and the NASD Unlisted Security Index (NSI) increased by 38.81 points to 4,281.28 points from 4,242.47 points.
During the session, the price of Central Securities and Clearing System (CSCS) Plc was down by N3.13 to N71.07 per share from N74.20 per share.
The activity chart showed that the volume of securities transacted by the market participants decreased yesterday by 81.6 per cent to 590,339 units from the 3.2 million units recorded on Thursday, as the number of deals shrank by 28.6 per cent to 30 deals from the 42 deals recorded a day earlier, while the value of securities increased by 0.5 per cent to N95.3 million from the preceding session’s N94.8 million.
Great Nigeria Insurance (GNI) Plc closed the day as the most active stock by value on a year-to-date basis, with a turnover of 3.4 billion units worth N8.4 billion, followed by Infrastructure Credit Guarantee (Infracredit) Plc with 2.3 billion units sold for N6.5 billion, and CSCS Plc with 61.2 million units traded for N4.1 billion.
The most active stock by volume on a year-to-date basis was GNI Plc, with the sale of 3.4 billion units for N8.4 billion, followed by Infracredit Plc with 2.3 billion units valued at N6.5 billion, and Resourcery Plc with 1.1 billion units exchanged for N415.7 million.
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