Economy
Yuguda Calls for Aggressive Investor Education
By Aduragbemi Omiyale
The Director-General of the Securities and Exchange Commission (SEC), Mr Lamido Yuguda, has called for aggressive investor education, noting that this would help the investing public to make an informed decision on capital market products.
Mr Yuguda said this when he met the managements of the Nigeria Export Processing Zones Authority (NEPZA) and the Lagos Free Zone (LFZ) in Abuja recently.
He tasked the two organisations to step up their investor enlightenment campaign as they prepare to access the capital market.
According to the DG, there is a lot of ignorance among investors as regards financial products, stating that there is a need for aggressive investor education to enable them to make informed decisions.
“When you come to the market to list, you must massively educate people. Investors would need to have as much information as possible about your company’s operations, especially since it operates within a Free Zone. They want to know how the NEPZA Act affects your cash flows and what is available to investors.
“These are important so investors can see the value the companies in the free zone have over those not operating there. They also want to know what the goal of the listing is as you need to erase those doubts and scepticism before listing,” he said.
Mr Yuguda stated that given the quantum of development and investment domiciled within the free zone, it holds the key to Nigeria’s future and commended the management for already contributing immensely to the economy by attracting international brands like Kellogg’s, Dano, BASF and Colgate to the Zone.
“Lagos Free Zone is enough to give domestic and international business communities the hope and courage to make valuable investments in Nigeria. You can imagine how much we spend travelling to buy goods abroad. With LFZ, I am convinced that we can transfer some of our demand to local production. I believe this is a bold step to bring back Nigeria’s industrial prowess,” he said.
The SEC chief pledged to ensure that the free zone remains attractive to investors and all other stakeholders by providing prompt regulatory backing where necessary.
In his remarks, the chief executive of LFZ, Mr Dinesh Rathi, said his organisation has assisted in creating employment for more than 7,000 people, and investment has also gone up considerably since they commenced operations, lauding the apex capital market regulatory agency for the support and progress on the draft regulation to enable the zone access the capital market.
“We hope the entire regulatory framework on Free Zone listing is completed by April. We solicit your support as this will pave the way for other operators who are having their own free zones to follow suit.
“Listing is not only a financial step but will also help deepen the market and attracts more investors. Listing creates a lot of positivity. Once the Free Zone is listed, part of the port gets listed too.
“In future, there is a possibility of the port also coming to the market. It is very crucial in a lot of ways, and the faster it is done, the better for all. We want to get past the finishing line quickly,” he said.
In his comments, the Managing Director of NEPZA, Prof Adesoji Adesugba, stated that the free zone scheme aimed to bring companies far away to operate within Nigeria where they can build their factories here, employ Nigerians and also export the products using the relevant laws, beneficial to them.
“To make it efficient, they are like a country within a country not subject to normal Nigerian laws. Since the SEC is efficient, we can allow you to regulate these companies. People need to understand that investment into this enclave before now was an FDI, no tax and the investors can take away 100% of their profit.
“They will be able to make reports to shareholders, the governance structure that is being utilized is as stipulated by the SEC. SEC stipulates the rules before the listing is done,” he said.
Mr Adesugba said that as a Nigerian, he prefers that Nigerians also benefit from the profits of these companies operating within the country hence his support on the listing desire of the Lagos Free Zone.
“I would not want people to come here, develop a port and take away profit 100 per cent without Nigerians benefiting from it. We need to design the regulations in such a way that the funds that are coming from the capital market suit our purposes.
“It is like a foreign country, but it is still in Nigeria, and Nigerians should be able to invest and get paid the dividends of their investments. The free zone is more efficient and does not allow those things that affect commerce ordinarily affect it,” he said.
By Dipo Olowookere
The Nigerian Exchange (NGX) Limited returned to winning ways on Tuesday after it closed higher by 2.30 per cent amid cautious trading.
Yesterday, investor sentiment at the Nigerian stock market was weak after finishing with 37 price gainers and 40 price losers, indicating a negative market breadth index.
It was observed that the industrial goods sector rose by 4.86 per cent, the energy index appreciated by 4.66 per cent, and the consumer goods segment soared by 2.74 per cent. They offset the 1.38 per cent loss recorded by the banking counter and the 0.20 per cent decline printed by the insurance sector.
At the close of business, the All-Share Index (ASI) was up by 5,137.90 points to 228,740.19 points from 223,602.29 points, and the market capitalisation went up by N3.308 trillion to N147.278 trillion from N143.970 trillion.
The trio of FTN Cocoa, Industrial and Medical Gases, and Lafarge Africa gained 10.00 per cent each to sell for N5.50, N39.60, and N324.50, respectively, while Austin Laz grew by 9.71 per cent to N3.73, and Aradel Holdings jumped 9.52 per cent to N1,840.00.
On the flip side, UBA lost 10.00 per cent trade at N44.55, Trans-Nationwide Express slipped by 9.99 per cent to N6.40, NASCON crashed by 9.18 per cent to N187.90, Jaiz Bank depreciated by 8.93 per cent to N8.01, and Berger Paints crumbled by 8.66 per cent to N68.00.
Yesterday, market participants traded 908.0 million equities valued at N68.2 billion in 72,886 deals compared with the 678.2 million equities worth N44.1 billion transacted in 82,838 deals on Monday, showing a drop in the number of deals by 12.01 per cent, and a spike in the trading volume and value by 33.88 per cent and 54.65 per cent, respectively.
By Adedapo Adesanya
Nigeria’s oil production recorded a five-year high of 1.71 million barrels per day, marking a significant rebound for the country’s upstream sector amid renewed efforts to restore output and improve operational stability.
The latest figure, released by Nigerian National Petroleum Company (NNPC) Limited, covers the period from April 2025 to April 2026 and underscores a steady recovery in crude production after years of disruptions caused by theft, pipeline vandalism and underinvestment.
According to the chief executive of the national oil company, Mr Bayo Ojulari, the performance reflects measurable progress across the company’s upstream, gas and downstream operations, with production gains supported by improved asset management and stronger field performance.
Within its exploration and production business, NNPC recorded a peak daily output of 365,000 barrels in December 2025, the highest level ever achieved by its upstream subsidiary. The company also advanced key contractual reforms, including revised production-sharing terms for deepwater assets aimed at unlocking additional gas reserves.
Nigeria’s gas ambitions are also gaining traction. Gas supply rose to 7.5 billion standard cubic feet per day in 2025, driven by major infrastructure milestones such as the River Niger crossing on the Ajaokuta-Kaduna-Kano pipeline and the commissioning of the Assa North-Ohaji South gas processing plant.
These investments are beginning to strengthen domestic gas utilisation. New supply agreements with major industrial consumers, including Dangote Refinery, Dangote Fertiliser and Dangote Cement, are expected to deepen gas penetration across manufacturing and power generation.
On the downstream front, NNPC has continued crude supply to Dangote Refinery under the crude-for-naira arrangement, a policy designed to reduce foreign exchange demand, support local refining and improve fuel market stability. The company also reaffirmed its 7.25 per cent equity stake in the refinery as part of its long-term energy security strategy.
Financially, the national oil company said it has resumed full monthly remittances to the Federation Account since July 2025. It has also reinstated regular performance reporting and held its first earnings call, moves widely seen as part of a broader push towards greater transparency and corporate accountability.
Despite the progress, challenges remain. Crude theft, pipeline outages and infrastructure bottlenecks continue to threaten production stability. Sustaining this recovery will depend on stronger security, reliable infrastructure and policy consistency as Nigeria seeks to maximise the benefits of rising domestic refining capacity.
By Adedapo Adesanya
The United Arab Emirates has announced its decision to quit the Organisation of the Petroleum Exporting Countries (OPEC) to focus on national interests.
This dealt a heavy blow to the oil-exporting group at a time when the US-Israel war on Iran had caused a historic energy shock and rattled the global economy.
The move, which will take effect on May 1, 2026, reflects “the UAE’s long-term strategic and economic vision and evolving energy profile”, a statement carried by state media said on Tuesday.
“During our time in the organisation, we made significant contributions and even greater sacrifices for the benefit of all,” it added. “However, the time has come to focus our efforts on what our national interest dictates.”
The loss of the UAE, a longstanding OPEC member, could create disarray and weaken the oil cartel, which has usually sought to show a united front despite internal disagreements over a range of issues from geopolitics to production quotas.
UAE Energy Minister Suhail Mohamed al-Mazrouei said the decision was taken after a careful look at the regional power’s energy strategies.
“This is a policy decision. It has been done after a careful look at current and future policies related to the level of production,” the minister said.
OPEC’s Gulf producers have already been struggling to ship exports through the Strait of Hormuz, a narrow chokepoint between Iran and Oman through which a fifth of the world’s crude oil and liquefied natural gas supplies normally pass, because of threats and attacks against vessels during the war.
The UAE had been a member of OPEC first through its emirate of Abu Dhabi in 1967 and later when it became its own country in 1971.
The oil cartel, based in Vienna, has seen some of its market power wane as the US has increased its production of crude oil in recent years.
Additionally, the UAE and Saudi Arabia have increasingly competed over economic issues and regional politics, particularly in the Red Sea area.
The two countries had joined a coalition to fight against Yemen’s Iran-backed Houthis in 2015. However, that coalition broke down into recriminations in late December when Saudi Arabia bombed what it described as a weapons shipment bound for Yemeni separatists backed by the UAE.
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