Economy
Sell-Offs in Banking, Consumer Goods Equities Leave NGX in Bears Territory
By Dipo Olowookere
The Nigerian Exchange (NGX) Limited spent another day in the territory of the bears on Wednesday, the last trading session of April 2025 after it closed lower by 0.12 per cent due to profit-taking.
Data showed that Customs Street did not survive the onslaught of the bears because of the selling pressure on two of the six major sectors of the market.
Business Post reports that the consumer goods index was down by 1.98 per cent and the banking space went down by 1.46 per cent at the close of trades.
However, the insurance sector gained 0.87 per cent, and the energy industry grew by 0.04 per cent, while the industrial goods and commodity sectors closed flat.
When the bourse ended for the session, the All-Share Index (ASI) declined by 130.33 points to 105,800.85 points from 105,931.18 points and the market capitalisation dwindled by N81 billion to N66.496 trillion from N66.577 trillion.
Ecobank topped the losers’ table after it lost 10.00 per cent to settle at N28.80, International Breweries also fell by 10.00 per cent to trade at N7.38, Ikeja Hotel weakened by 9.89 per cent to N12.30, Cadbury Nigeria depreciated by 9.80 per cent to N29.00, and Austin Laz slumped by 9.52 per cent to N1.71.
On the flip side, University Press gained 10.00 per cent to sell for N3.74, Vitafoam Nigeria expanded by 10.00 per cent to N52.80, Livestock Feeds improved by 9.97 per cent to N8.49, C&I Leasing leapt by 9.89 per cent to N4.00, and McNichols advanced by 9.88 per cent to N1.89.
Despite the loss recorded by the NGX yesterday, investor sentiment remained bullish after it ended with 39 price gainers and 25 price losers, implying a positive market breadth index.
A total of 393.0 million shares worth N12.8 billion exchanged hands in 17,519 deals at midweek versus the 733.1 million shares valued at N35.3 billion traded in 16,619 deals a day earlier, showing a jump in the number of deals by 5.42 per cent, and a slip in the trading volume and value by 46.39 per cent and 63.74 per cent, respectively.
The busiest stock for the day was UBA with 38.9 million units valued at N1.4 billion, Wema Bank sold 26.6 million units worth N400.0 million, Fidelity Bank transacted 25.4 million units for N525.1 million, Access Holdings exchanged 25.0 million units valued at N565.2 million, and Zenith Bank traded 20.7 million units worth N992.3 million.
The local stock market will be closed for business today, Thursday, May 1, 2025, because of the public holiday declared by the federal government to commemorate Workers’ Day. Trading activities will resume tomorrow.
By Adedapo Adesanya
Central Securities Clearing System (CSCS) Plc kept the NASD Over-the-Counter (OTC) Securities Exchange in the green territory by 0.04 per cent on Friday, July 16.
The securities depository company added N2.50 to its share price to settle at N95.14 per unit from the preceding session’s N92.64 per unit.
However, FrieslandCampina Wamco Nigeria Plc slid during the session by N5.85 to N141.81 per share from N147.66 per share.
But when the bourse closed for the day, the market capitalisation increased by N1.08 billion to N2.593 trillion from N2.592 trillion, while the NASD Security Index (NSI) appreciated by 1.80 points to 4,320.67 points from 4,318.87 points.
During the session, the value of securities slid by 38.9 per cent to N63.5 million from N104.1 million, the volume of securities went down by 34.5 per cent to 1.2 million units from 4.8 million units, and the number of deals declined by 15.4 per cent to 33 deals from 39 deals.
Great Nigeria Insurance (GNI) Plc was the most traded 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 75.4 million units traded for N5.3 billion.
GNI Plc also ended the day as the most traded stock by volume on a year-to-date basis, with 3.4 billion units exchanged for N8.4 billion, followed by Infracredit Plc with 2.3 billion units sold for N6.5 billion, and Resourcery Plc with 1.1 billion units transacted for N415.7 million.
By Dipo Olowookere
The bulls regained control of the Nigerian Exchange (NGX) Limited on Friday after surrendering power to the bears a day earlier as a result of mild selling pressure.
Yesterday, the Nigerian bourse rebounded by 0.54 per cent, mainly due to the gains recorded by First Holdco and others.
Data harvested by Business Post indicated that the industrial goods and energy sectors were flat, while the banking index chalked up 3.13 per cent. The insurance space expanded by 1.08 per cent, and the consumer goods counter rose by 0.21 per cent.
Consequently, the All-Share Index (ASI) went up by 1,316.52 points to 243,462.13 points from 242,145.61 points, and the market capitalisation grew by N850 billion to N157.057 trillion from N156.207 trillion.
The market breadth index was bullish during the last trading session of this week, printing 31 appreciating stocks and 23 depreciating stocks, representing strong investor sentiment.
First Holdco led the advancers’ log after it climbed 9.97 per cent to N95.95, Haldane McCall appreciated by 9.94 per cent to N3.65, LivingTrust Mortgage Bank soared by 9.73 per cent to N3.72, LASACO Assurance jumped by 5.26 per cent to N2.00, and Thomas Wyatt gained 5.10 per cent to quote at N3.09.
On the flip side, Red Star Express declined by 9.50 per cent to N20.00, Omatek slipped by 6.08 per cent to N1.70, C&I Leasing shrank by 5.93 per cent to N5.55, Jaiz Bank crashed by 5.03 per cent to N8.50, and Livestock Feed fell by 3.89 per cent to N8.65.
As for the activity chart, market participants bought and sold 685.9 million equities for N42.7 billion in 44,134 deals on Friday versus the 498.5 million equities worth N34.9 billion traded in 39,484 deals on Thursday, implying a rise in the trading volume, value, and number of deals by 37.59 per cent, 22.35 per cent, and 11.78 per cent, respectively.
Investors’ darling for the day was First Holdco, with a turnover of 225.9 billion units valued at N21.0 billion, Guinea Insurance sold 53.4 million units for N45.2 million, Zenith Bank traded 41.5 million units worth N4.7 billion, Access Holdings exchanged 29.1 million units valued at N720.6 million, and UBA exchanged 27.5 million units for N1.2 billion.
By Modupe Gbadeyanka
The Africa Association of Professional Freight Forwarders and Logistics of Nigeria (APFFLON) has appealed to the Nigeria Customs Service (NCS) to deepen its sensitisation on the newly introduced Green Tax Surcharge Policy.
The chairman of APFFLON, Mr Akeem Ayobiojo, made this plea on behalf of his colleagues on Tuesday, July 14, 2026, at the Customs House in Abuja, during a stakeholders’ engagement with the agency.
He also called for improvements in the administration of Pre-Arrival Assessment Reports and Post Clearance Audit and the African Continental Free Trade Area (AfCFTA).
Mr Ayobiojo stated that freight forwarders were happy to work with the customs, commending the organisation for implementing Chapter 99, describing it as a major relief for manufacturers.
He, however, emphasised that a deeper understanding of the new tax was necessary for his members, saying more predictable procedures would reduce delays and unexpected costs for importers and freight forwarders.
In his remarks, the Comptroller-General of Customs, Mr Adewale Adeniyi, assured manufacturers, freight forwarders and other players in the nation’s trade sector that the NCS would continue to engage them on fiscal policies affecting their businesses, saying sustained dialogue remains key to resolving implementation challenges and improving the country’s trading environment.
He also promised them the service’s resolve to enhance and facilitate trade, acknowledging that, “Your feedback is important because it helps us understand what is happening in the field, and where necessary, we will take your concerns to the Federal Ministry of Finance and other relevant government institutions.”
Speaking about Authorised Economic Operator (AEO), Mr Adeniyi further explained that Nigeria would not lower the standards required under the Authorised Economic Operator Programme as the initiative is guided by global benchmarks established by the World Customs Organisation (WCO).
On her part, the Deputy Comptroller-General of Customs for Tariff and Trade, Ms Caroline Niagwan, clarified that electric vehicles can be imported without payment of duty only by holders of Import Duty Exemption Certificate (IDEC) issued by the Federal Ministry of Finance.
She also urged importers facing classification disputes to take advantage of the Advance Ruling system, noting, “Once an Advance Ruling is issued based on genuine documentation, importers have certainty on classification, valuation or origin before the goods arrive, thereby reducing unnecessary disputes during clearance.”
