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NGX Stock trading start on a Bullish note in first week of August, ASI up 2.0%

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NGX stock trading began the week in the positive territory as buy interest in DANGCEM, BUAFOODS and BUACEMENT pushed the NGX-ASI up 2.0% to 144,074.23 points. As a result, YTD return improved to 40.0% (previously 37.2%), while market capitalisation rose 2.0% to N91.1tn. Meanwhile, activity level faltered as volume and value traded fell by 24.8% and 27.5% to 811.1m units and N19.5bn, respectively. Performance across our coverage sectors was mixed as four indices gained, while the Oil & Gas and AFR-ICT indices lost 1.1% and 3bps accordingly, due to sell-offs on TOTAL, ARADEL, CWG, and CHAMS. Topping the leaderboard, the Industrial and Consumer Goods indices gained 5.7% and 4.9% respectively, due to price appreciation in DANGCEM, BUACEMENT, BUAFOODS, and INTBREW. Similarly, gains in AlICO (+9.6%), CORNERST , ZENITHBANK and WEMABANK drove the Insurance and Banking indices higher by 3.4% and 0.1% respectively. Investor sentiment, as measured by market breadth, strengthened to 0.42x (previously -0.02x in the previous session) as 47 stocks advanced, 23 declined while while 57 closed flat.
Meanwhile just twenty companies account for 81.16% of Nigerian Exchange (NGX) market capitalisation at the close of the trading session on Friday. With combined value of N41.385 trillion, MTN Nigeria, Dangote Cement, Airtel Africa, BUA Foods and BUA Cement alone accounted for 46.30% of Nigerian Exchange market capitalisation. Meanwhile just twenty companies account for 81.16% of Nigerian Exchange (NGX) market capitalisation at the close of the trading session on Friday. With combined value of N41.385 trillion, MTN Nigeria, Dangote Cement, Airtel Africa, BUA Foods and BUA Cement alone accounted for 46.30% of Nigerian Exchange market capitalisation. Details from MarketForces Africa’s finding showed that MTN Nigeria Plc (N10.077 trillion) outpaced its market contenders—Airtel Africa, Dangote Cement, and BUA Foods—to become the most valuable listed stock in terms of market value. MTN Nigeria (N10.077trn), Dangote Cement (N8.914trn), Airtel Africa (N8.683trn), BUA Foods (N8.701trn), BUA Cement (N5.01trn), GTCO (N3.624trn), Zenith Bank (N3.141trn), Geregu Power (N2.853trn), and Lafarge (N2.4trn). Others are Transcorp Power (N2.4TRN). International Breweries (N2.32trn), Aradel Holdings (N2.26trn), UBA (N2.02trn) Stanbic (N1.61trn) Presco (N1.55trn) Transcorp Hotels (N1.53trn) Nestle Nigeria (N1.498trn) Access Holding s (N1.492trn), FirstHoldco (N1.398trn) and Fidelity Bank (N1.06trn)
Dangote Cement Plc (N8.914 trillion) has now outpaced Airtel Africa, leaving the telecom company at fourth position after sustained top rank as market mover for a long time. But Airtel Africa stopped breathing at the market value of N8.683 trillion in the Nigerian stock market with persistent thin transactions, which reflected tight ownership. BUA Foods Plc, with N8.701 trillion in market value, has become the third on the list, and the consumer goods sector category king has A potential to raise its head higher among NGX one trillion market cap stocks. With N5.01 trillion in market value after its recent monster rally fuelled by earnings rebound, BUA Cement Plc rose to take position as 5th largest listed company by market cap in the local bourse. The first banking name to make the mark as market mover, GTCO ranked sixth on the list of most valuable stock in Nigerian Exchange. It market capiatlisation settled at N3.624 trillion on Friday ahead of earnings release. Stockbrokers, and investors said that GTCO has lowest low man risks among its major contenders. Its move to list on London Stock Exchange reflects its strong corporate governance and ability to match regulatory demand at highest standard possible.
Zenith Bank Plc trailed GTCO. Zenith Bank stock market value closed at N3.141 trillion in the equity market on Friday ahead of its earnings release. Geregu Power’s market performance has been impressive so far, though the stock appears to have stopped the earlier momentum seen after it became a listed company a few years ago. The company share price has failed to respond to earnings results; hence, its market valuation has flatlined for a long time—responding to nothing, not even a general downturn or market correction. Ranked on the 9th step in the ladder, Lafarge Africa, whose shares are trading under the ticker WAPCO, has become one of the market movers to reckon with in the stock market. Its market capitalisation closed at N2.4 trillion. The company is the third leg of the cement oligarchy in the Nigerian market. Transcorp Power is the 10th largest brand in the Nigerian Exchange by market value. Trading data showed the power generating company’s market value settled at N2.4 trillion, the same level as Lafarge Africa.

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Customs seizes multi million-naira petroleum products in Adamawa

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The Nigeria Customs Service under ‘Operation Whirlwind’ has seized petroleum products worth N181.6 million in eight weeks between the Nigeria and Cameroon borders.

ACG Kolapo Oladeji, national coordinator of Operation Whirlwind, disclosed this at a news conference on Thursday in Yola. Mr Oladeji said the seizures were made across various smuggling flashpoints in Adamawa in 55 separate operations.

“This operation is geared towards energy and food security to foster economic growth in line with the core mandates of the President of the Federal Republic of Nigeria, Bola Tinubu. In line with these mandates, the Operation Whirlwind Zone ‘D’ had repositioned all its machinery across the area of its responsibilities and ensured that the border became airtight,” he said.

He warned the smugglers to stop such acts and solicited the continued support and cooperation of all stakeholders in the state’s socioeconomic development. “We will ensure that the supply chains of these economic wreckers are truncated in accordance with enabling laws. This fight has no doubt helped in transforming the nation’s economy and strengthening the security of our borders,” he said.

He further said that the seized petroleum products would be auctioned to the public. Abidemi Adewumi-Aluko, assistant legal adviser of the attorney general of the federation, described the auction as a symbol of reclaiming resources to ensure that the benefit of petroleum remained in Nigeria. She said that such offences attracted life imprisonment because they threatened national security. NAN

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Chevron to join Nigeria oil licence auction, plans rig deployment in 2026

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Chevron said on Friday it will participate in Nigeria’s next oil licensing round and plans to deploy a drilling rig in late 2026 as it seeks to expand operations in Africa’s top energy producer.
Jim Swartz, chairman and managing director of Chevron Nigeria/Mid-Africa Business Unit, said the company aims to grow its footprint in Nigeria, citing improved regulatory clarity under the Petroleum Industry Act, PIA.

“We will participate in the next licensing round. Our intention is to continue to grow in Nigeria,” Swartz told reporters after meeting the upstream regulator. Nigeria’s licensing rounds are part of efforts to attract investment and boost output after years of underinvestment. The 2025 round will offer 50 fields through a digital platform, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) said. TotalEnergies has also expressed interest in joining an auction.
Chevron recently agreed to acquire a 40% stake in two offshore exploration licences, PPL 2000 and PPL 2001, from TotalEnergies and is seeking regulatory approval to accelerate development.

Swartz said it plans to bring in a rig in late 2026 to drill a newly discovered resource near Agbami and extend leases on existing assets. Swartz added that Chevron had recorded no oil theft or sabotage in the past year, the longest period without disruptions in its Nigerian operations, a sign of improved security in the sector. Reuters

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Don’t patronise touts, immigration personnel available 24/7—CGIS

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Comptroller General of the Nigeria Immigration Service NIS, Kemi Nandap, on Friday urged Nigerians to shun touts and middlemen when applying for passports or other immigration services, insisting that the Service operates round-the-clock channels to assist citizens directly and transparently.

Nandap made the call in Abuja while delivering the keynote address at the fourth-quarter Nationwide Sensitization Campaign against corruption and for improved service delivery.

The campaign, themed “Innovating for Transparency and Efficiency: Strengthening Service Delivery and Combating Corruption Through Reforms,” highlights the NIS’ ongoing efforts to modernize its operations and eliminate corrupt practices.

Addressing participants, the Immigration chief said the era of relying on agents or informal handlers should be over, as the Service has put in place fully digital, citizen-focused systems that allow applicants initiate and track their processes from the comfort of their homes.

She stressed that the NIS has functional 24-hour call lines, an active call centre, constantly monitored emails and social-media channels, all designed to ensure citizens are attended to promptly and without intermediaries.

“You don’t have to go to a tout, you don’t have to go to an agent. You can sit in the comfort of your home and apply for most of our facilities. Once you avoid putting yourself at the mercy of someone, you stay in control of your application and can always reach us at any time”, she stated. 

Nandap noted that recent reforms, including automated passport application processes, biometric-based verification, expanded digital architecture and streamlined service-centre operations, have significantly reduced delays, improved transparency and minimised opportunities for extortion.

She explained that passport processing timelines have improved across multiple commands following the rollout of automated scheduling and digital communication platforms.

The Comptroller General also emphasized that transparency remains the foundation of effective immigration management.

She highlighted enhanced internal audits, stricter enforcement of ethical codes and redesigned workflows as key elements of the NIS’ anti-corruption strategy.

With digital payments and automated checkpoints reducing cash interactions, she said the Service is committed to stamping out malpractice at all levels.

Nandap further disclosed that the NIS has deepened collaboration with sister agencies, civil-society groups, international partners and the diplomatic community to align operations with global border-management standards.

These partnerships, she said, are helping to harmonise processes, promote accountability and support ongoing reforms.

She appealed to citizens to familiarise themselves with official procedures, follow approved channels and use the Service’s feedback platforms—including suggestion boxes, hotlines and online desks—to report challenges or offer recommendations. “We are here for Nigerians. Tell us how to serve you better,” she said.

The Immigration CG also paid tribute to officers who lost their lives in the line of duty in Mogolu, Tuga, Tula and Niger State, calling their deaths a painful reminder of the risks faced daily by immigration personnel.

She urged Nigerians and officers alike to embrace positive change, adding that sustainable reform depends on individual commitment and collective responsibility. “The change we want starts with each and every one of us,” she said.

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