By Dipo Olowookere

Selling pressure crashed the Nigerian Exchange (NGX) Limited by 0.57 per cent on Thursday, with the market breadth index turning negative after recording 37 price gainers and 39 price losers, indicating weak investor sentiment.

Customs Street was dominated by the bears yesterday after traders decided to book profit, with almost all the key segments of the bourse in red except for the commodity index, which was flat.

The insurance counter lost 1.35 per cent, the consumer goods sector was down by 1.31 per cent, the banking industry depreciated by 0.95 per cent, the industrial goods segment dropped 0.71 per cent, and the energy landscape weakened by 0.15 per cent.

Consequently, the All-Share Index (ASI) moderated by 870.23 points to 165,397.37 points from 166,267.60 points and the market capitalisation shrank by N557 billion to N105.886 trillion from N106.443 trillion.

Omatek fell by 9.40 per cent to sell for N2.12, International Energy Insurance depleted by 6.06 per cent to N3.10, International Breweries slumped by 6.00 per cent to N14.10, NEM Insurance dipped by 5.60 per cent to N32.00, and Lafarge Africa tumbled by 5.06 per cent to N150.00.

On the flip side, InfinityTrust Mortgage Bank gained 10.00 per cent to trade at N7.70, Union Homes REIT appreciated by 10.00 per cent to N64.90, John Holt also improved its value by 10.00 per cent to N7.70, NCR Nigeria jumped 10.00 per cent to N188.15, and Austin Laz expanded by 9.95 per cent to N4.09.

The busiest stock for the session was Access Holdings with 54.3 million units valued at N1.2 billion, Deap Capital sold 51.2 million units worth N300.0 million, Tantalizers traded 41.9 million units for N169.5 million, Omatek exchanged 33.5 million units worth N77.9 million, and Japaul transacted 31.5 million units valued at N80.1 million.

At the close of transactions, 768.3 million units worth N21.2 billion exchanged hands in 46,481 deals during the trading day versus the 822.7 million units valued at N24.9 billion transacted in 43,548 deals a day earlier, showing a slip in the trading volume and value by 6.61 per cent and 14.86 per cent apiece, and a spike in the number of deals by 6.74 per cent.

By Adedapo Adesanya

Crude oil slid about 2 per cent on Thursday after US President Donald Trump softened threats toward Greenland and Iran, with Brent futures down by $1.18 or 1.8 per cent to settle at $64.06 a barrel and the US West Texas Intermediate (WTI) futures depreciating by $1.26 or 2.1 per cent to $59.36 a barrel.

President Trump said he has secured total and permanent US access to Greenland in a deal with North Atlantic Treaty Organisation (NATO).

He disavowed military action against Greenland but reiterated his desire for US ownership, framing it as a global security imperative.

European Union leaders are rethinking ties with the US at an emergency summit after Mr Trump’s threat of tariffs and even military action badly shook confidence in the transatlantic relationship. The European Parliament announced it was freezing work on approval of the US-EU trade deal agreed in July 2025.

The American President also said he hoped there would be no further US military action in Iran, but added the US would act if Iran resumes its nuclear programme.

Iran, operating under sanctions, is the third-biggest crude producer in the Organization of the Petroleum Exporting Countries (OPEC) behind Saudi Arabia and Iraq. With less tension around Greenland and Iran, oil prices had to head south.

There was also pressure as there was some positive movement that could lead to a solution to end Russia’s war in Ukraine.

President Volodymyr Zelenskiy of Ukraine said on Thursday after talks with President  Trump in Davos that terms of security guarantees for Ukraine had been finalized, but the vital issue of territory in its war with Russia remains unsolved.

The US President has pressured Ukraine to secure peace after nearly four years of war, despite few signs Russia wants to stop fighting.

A deal to bring peace to Ukraine and lift sanctions on Russia, the world’s third-biggest crude producer, could reduce oil prices by making more fuel available on global markets.

In Venezuela, another sanctioned OPEC member, trading houses Vitol and Trafigura were exporting fuel oil under a US-backed deal following capture of Venezuelan President.

The US Energy Information Administration (EIA) said energy firms added 3.6 million barrels of crude to storage during the week ended January 16.

By Adedapo Adesanya

The Minister of Foreign Affairs, Mr Yusuf Tuggar, has urged international investors to look beyond the security challenges facing Nigeria, and instead focus on the reforms.

Speaking during an interview at the ongoing World Economic Forum (WEF) in Davos, Switzerland, Mr Tuggar noted that incidents of insecurity being recorded across the country are “isolated cases” and not the reality across the country.

According to him, instability in the Sahel had spilled into Nigeria.

“We are urging investors to treat us the same way they treat other countries. The fact that there were isolated incidents in some places in the country does not mean that it’s the entire country.

“Conversations that are taking place here also have to do with risk buyers, where the issue of geopolitical risk, in particular, is over-hyped when it comes to Africa, which doesn’t apply in other parts of the world.

“It’s very important to see the conflict for what it is. It’s a regional conflict that has spilled over into Nigeria. It is not removed from the conflict in the Sahel. It’s not removed from what happened in Libya many years ago,” he told CNN on Tuesday.

“It’s not removed from the proliferation of weaponry, of fighters, and climate change issues, and so many other complex issues.”

Mr Tuggar said the government is working with international partners, including the United States, to target bandits and terrorist groups in their hideouts.

The minister also said Nigeria is actively engaging investors and pushing back against an exaggerated risk narrative around Nigeria’s economy.

“We’re urging potential investors to treat us the same way, to look at us the way that they look at other countries. The fact that there is an incident in a country of 923,000 square kilometres does not mean you write off the entire country,” he said.

Mr Tuggar highlighted a number of macroeconomic and fiscal reforms under the Bola Tinubu administration aimed at improving investor confidence, including changes to the foreign exchange regime, tax reforms, and a reduction in corporate income tax.

The minister said Nigeria’s foreign reserves had risen to about $43 billion, while reforms had eased access to foreign exchange.

“It’s very important we look at the progress that the Tinubu administration has been making with macroeconomic reforms, with the tax reforms that make it easier for investors to come into Nigeria,” he said.

On security, he said Nigeria had recorded significant gains against Boko Haram through regional cooperation, particularly the multinational joint task force, which allowed cross-border pursuit of insurgents.

Mr Tuggar warned that persistent negative framing of Nigeria’s security situation could itself worsen insecurity by encouraging extremist groups to stage attacks for attention.

“So, let us look at Nigeria holistically. Let us not continue to dwell on some of these isolated incidents and define the entire country by it,” he said.

According to him, apart from working with security agencies to safeguard lives and properties, the country has also secured the services of forest guards to militate against terrorism.