Author: Julius Alagbe

GTCO Delivers 63% YTD Return Ahead of Dividend Payment With a 63.2% year-to-date (YTD) return, GTCO market value declined by N36.45 billion due to a soft bearish touch on the most valuable financial services group in the Nigerian stock market. The price depreciation came ahead of the group’s interim dividend scheduled for payment in October 15, a week after qualification date – for a group with sufficient cash flow. Data from the Nigerian Exchange showed that GTCO share price declined to N93 week on week from N94 at the beginning of trading session. The market saw huge volume transactions that…

Zenith Bank Surges after Interim Dividend Notice, YTD Return Rises Zenith Bank Plc fired up in the equity segment of the Nigerian Exchange after its board of directors increased interim dividends by 25% when others are cutting back. Trading data from the Nigerian Exchange showed that the financial services group’s market value expanded by N240.258 billion after its half-year earnings releases and proposed interim dividend payment to shareholders. Its share price surged to N69.85 on the Nigerian Exchange as 38.966 million units of Zenith Bank valued at N2.723 billion were traded on Friday – resulting in 56% year-to-date return. The…

UBA Gains, Delivers 43.54% Return Ahead of Dividend Payment Pan African lender United Bank for Africa (UBA Plc), the only Tier-1 bank with profit growth in the first half of 2025, courted investors’ attentions in the stock market. With 43.54% year-to-date, UBA has raised shareholders’ value ahead of 25 kobo interim dividend payment. In the equities market, UBA closed at N44.90 per share amidst significant trading volume. The Pan African lender’s share price advanced from N44.2 at the beginning of the week to N44.9 on Friday after it hit an intraday high of N45 in spite of reduced interim dividends.…

British Pound Slides as UK Faces Pharma Tariff Threat In the face of new challenges to UK pharmaceutical profits, the British pound declined by 0.5%, closing at 1.3402 dollars, as shifting sentiments were influenced by economic data, interest rate decisions, trade policies, and other expectations. The US threat to impose new tariffs from next week on branded drugs, trucks, and kitchen cabinets has raised fresh concerns for the UK pharmaceutical industry, which remains excluded from Keir Starmer’s US tariff deal agreed five months ago. Trump promised the UK “preferential treatment” on pharmaceutical tariffs in May but has yet to deliver on…

Nigeria’s Gross External Reserves Grow by $5 Billion in Q3 Nigeria’s foreign reserves increased by more than $4 billion in the third quarter of 2025, according to details obtained from the Central Bank of Nigeria (CBN). The external reserves printed at $42.225 billion as of September 25, following successive inflows from across sources, including remittance and investment inflows. Data from the CBN showed the month of Sept witnessed a sequence of inflows despite fluctuation in global oil prices, and FX interventions sales to banks to aid naira stability at the forex market. The nation’s foreign reserves is currently at the…

Mass Sack at Dangote Refinery over Sabotage, Safety Concerns Claim Dangote Petroleum Refinery and Petrochemicals has dismissed several members of staff in a major reorganisation exercise, following reported cases of sabotage in different refinery units that raised serious safety concerns. Mr Femi Adekunle, the Chief General Manager of Human Asset Management at Dangote Group, confirmed the development in a statement. He noted that the reorganisation followed multiple cases of reported sabotage across refinery units that posed major safety risks. According to Adekunle, management was left with no choice but to carry out a total reorganisation of the refinery, resulting in…

Green Tech Key to Nigeria’s Future, Minister Says The Minister of Youth Development, Mr Ayodele Olawande, has emphasised that embracing green technology and digital tools is essential for securing Nigeria’s future in energy and industrial development. Speaking in Abuja on Friday at the third Technology Ecosystem Dialogue organised by Young Innovators Nigeria (YIN), Olawande, represented by Senior Adviser Mr Obinna Ebirim, highlighted the urgency of investing in young talent and innovation. The dialogue, themed “Green Tech and Energy Revolution: Transforming Business and Society”, brought together innovators, government officials, and stakeholders to discuss sustainable digital and energy solutions for Nigeria’s development.…

Nigeria on Path to Economic Prosperity— Tinubu ‎ President Bola Tinubu has assured Nigerians that the nation’s economy has “turned the corner,” following the success of the bold economic reforms introduced by his administration. ‎The president reassured Nigerians that they would soon begin to enjoy the fruits of the reforms and thanked them for their patience and support. ‎Presidential Spokesperson, Mr Bayo Onanuga, in a statement, said the President stated this on Friday at the coronation of Oba Rashidi Ladoja as the 44th Olubadan of Ibadanland. ‎Tinubu attributed the success of his administration’s policies to the enduring support and sacrifices…

Debt Office to Open FGN Bonds Worth N200bn for Subscription The Debt Management Office (DMO) has revealed a plan to open N200 billion worth of Federal Government of Nigeria (FGN) bonds for subscription at its monthly primary market auction scheduled for next week. On behalf of the Federal Government of Nigeria, the authority plans to raise N100 billion from reopened local bonds with 5-year and 7-year maturities apiece. The Debt Office disclosed in its circular that it will raise N100 billion from its 17.945 FGN AUG 2030 bonds and 17.95% FGN JUNE 2032 on September 29. The market anticipates spot…

Equities Investors Gain N279bn as Oando, GTCO Rally The stock market reversed losses by 0.31 per cent on Thursday, recording N279 billion gain for investors. This is coming after four consecutive sessions of losses. The uptrend was driven by improved bargain hunting and renewed investors interest in stocks like: Mecure Industries, Oando, Mc Nicholas, CHAMS, Legend Internet and 29 other stocks. Specifically, the market capitalisation, which opened at N89.063 trillion, added N279 billion to close at N89.342 trillion. Similarly, the All-Share Index soared by 0.31 per cent or 432.94 points, settling at 141,149.04 compared with 140,716.10 recorded on Wednesday. Also,…