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NGX All-Share Index Up by 2.04%

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The Nation’s bourse on Wednesday continued to appreciate, as the All-Share Index gained 2.04 per cent or 1,546.77 points to settle at 77,537.57 basis points, against 75,990.88 recorded on Tuesday.

Consequently, the Nigerian Exchange Ltd (NGX) market capitalisation gained N846 billion to close at N42.429 trillion, as against N41.583 trillion recorded previously.

As a result, the Year-To-Date (YTD) return rose to 3.70 per cent.
The positive report was due to gains in Tier-one banks such as, Zenith Bank, Guaranty Trust Company (GTCO) and StanbicIBTC.

Meanwhile, a total of 927.56 million shares valued at N10.69 billion were exchanged in 11,629 deals.

Fidelity Bank led the volume chart with 108.11 million units traded, while the United Bank of Africa(UBA) led the value chart with deals worth N1.54 billion.

However, 121 NGX listed equities participated in the trading, which ended with 78 gainers and seven losers.
Dangote Sugar Refinery led the gainers chart by 10 per cent to close at N63.25 per share, followed by United Bank for Africa (UBA) and Berger Paints with 10 per cent share price each to close at N28.60 and N14.30 per shares respectively.

Custodian Insurance and FCMB also gained 10 per cent share prices each to close at N9.90 and N8.25 per shares respectively.

On the losers chart, Learn Africa led with a depreciation of 9.09 per cent at N2.90 per share, followed by Champion Breweries with a loss of 7.32 per cent at N3.8 per share.

CILeasing shed 2.33 per cent to close at N5.03 per share, while the Nigerian Exchange Group lost 1.7 per cent to close at N23.10 per share and Ellahlakes depreciated by 1.64 per cent to close at N3.00 per share.(NAN

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Dangote Industries pledge to make Nigeria self-sufficient in cement, petroleum, others

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April 7, 2025

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Dangote Industries Ltd. says it would ensure that Nigeria becomes self-sufficient in cement, agriculture, mining and petroleum production.

The Regional Sales Director, Southeast, Dangote Cement, Dr Abayomi Shittu stated this in an interview with the News Agency of Nigeria (NAN) in Enugu on Sunday at the ongoing 36th Enugu International Trade Fair.

“Dangote Industries Ltd. is into cement, sugar, salt, poly products, real estate, agriculture, logistics, telecommunications, steel, oil, and gas among other businesses.

“Three of its subsidiaries Dangote Cement Plc., Dangote Sugar Refinery Plc. and Dangote Salt, trading under the name of NASCON Allied Industries Plc. are listed on the Nigerian Stock Exchange.

“Our continuous efforts to innovate, create value and invest in Nigeria are borne out of our firm belief in the vast economic potential of Nigeria.

“Dangote Sugar Refinery, through its out-grower scheme, has provided jobs for thousands of farmers in its host communities.

“The coming of Dangote Fertiliser has to a great extent helped to change the face of agriculture in Nigeria while the Dangote Petroleum Refinery, will drive the development of ancillary industries.

“We recruit graduates of engineering and other technology-based courses and train them in many aspects of industrial operations,’’ Shittu said.

He noted that trade fairs organised by the Enugu Chamber of Commerce, Industries, Mines and Agriculture (ECCIMA) were unique because Enugu State had about the largest concentration of industries in the Southeast and South-South geopolitical zones.

He added that ECCIMA’s trade fairs remained avenues for industries to connect with customers in the Southeast and in the adjoining zones. (NAN)

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Nigeria’s Public Debt Rises 48% To N144.67trn In 2024

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April 6, 2025

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Nigeria’s public debt rose by 48.5 per cent year-on-year (YoY) to N144.67 trillion ($94.23 billion) in 2024 from N97.34 trillion ($108.23 billion) in 2023.

The Debt Management Office (DMO) disclosed this in its latest public debt profile report.
The debt stock consists of external debt of N70.29 trillion ($45.78 billion) serviced with $4.66 million and domestic debt of N74.38 trillion ($48.44 billion).
The report showed that the country’s external debt increased by 83.89 per cent YoY from N38.22 trillion ($42.5 billion) in 2023.

Domestic debt also grew by 25.7 per cent YoY from N59.12 trillion ($65.73 billion) in 2023.
The report further indicated that the Federal Government’s domestic debt component rose by 32 per cent YoY to N70.41 trillion from N53.26 trillion in 2023.
But the domestic debt of states and the Federal Capital Territory declined YoY by 32 per cent to N3.97 trillion in 2024 from N5.86 trillion in 2023.

The rise in public debt can be attributed to fluctuating trends in exchange rates amidst changes in global economic conditions.

The sharp increase, particularly in external debt, highlights the nation’s vulnerability to exchange rate volatility and changes in global economic conditions.
With the continued depreciation of the naira, the cost of servicing foreign debt could escalate, adding pressure on the country’s financial resources.

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NNPCL Names New Senior Management Team

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2 days ago

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April 5, 2025

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The Nigerian National Petroleum Company Limited (NNPCL) has announced the appointment of a new eight -man Senior Management Team.

The appointment followed the recent announcement followed the appointment of the Group Chief Executive Officer (GCEO) and Board of Directors.

Disclosing this in a statement on Friday, NNPCL Chief Corporate Communications Officer, Olufemi Soneye, said the appointments all take immediate effect.

“Following the appointment of the Group Chief Executive Officer and Board of Directors, the Nigerian National Petroleum Company Limited (NNPC Ltd) has announced the appointment of a new 8-man Senior Management Team on Friday,” he stated.

“The team which will be headed by the GCEO, Mr Bashir Bayo Ojulari, has Rowland Ewubare as Group Chief Operating Officer; Adedapo Segun as Group Chief Financial Officer; and Olalekan Ogunleye as Executive Vice President Gas, Power & New Energy.

“Other members of the team are: Udy Ntia as Executive Vice President Upstream; Mumuni Dangazau as Executive Vice President Downstream; Sophia Mbakwe as Executive Vice President Business Services; and Adesua Dozie, as Company Secretary & Chief Legal Officer. All appointments are with immediate effect.”

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