Author: Julius Alagbe

VFD Group Plc has announced a full divestment of its interest in Atiat Limited in a deal valued at over N7 billion following a board approval.  In a statement, the diversified investment company told the Nigerian Exchange that the Board approved the Company’s full divestment of 343,546,646 ordinary shares of its holdings in Atiat Limited, a key subsidiary.

Nigerian Stock Market Grows by N884bn to N65.59Trn Nigerian stocks grew by about N884 billion to close the week at N65.59 trillion on Friday due to increased interest in some listed companies shares. The equities segment of the Nigerian Exchange, NGX, commenced February on a positive note, extending its bullish streak.  Data revealed that the NGX All-share index climbed by 1.38% week-on-week to 105,933.03 points on Friday. Stockbrokers said expectations of more impressive earnings releases and the anticipated January 2025 Consumer Price Index (CPI) data under the new methodology triggered buying momentum.  As a result, the total market capitalisation rose…

Exporters Lose $10m to NXP Integration –Association Association of West African Exporters and Maritime Professionals (AWAEMAP) says its members recorded over 10 million dollars in losses due to Nigeria Export Proceeds (NXP) integration into the Truck Transit Park portal. The president of the association, Mrs Olubunmi Olumekun, said this in a statement made available to newsmen in Lagos on Friday. Olumekun stated that the introduction of NXP had caused severe disruptions in the export sector within five days of its implementation. While expressing displeasure with the development, she called on the Federal Government to look into the matter. Olumekun stressed…

Ghana Records Sharper Decline in Business Activity – PMI In Ghana, there was sharper decline in private sector activity, S&P Global said in its purchasing manager index (PMI) report for January.  The report revealed that latest data signalled a disappointing start to 2025 for Ghana’s private sector on the back of a renewed fall in new orders, feeding through to a sharper decline in output and a drop in purchasing activity. Meanwhile, staffing levels were unchanged, the report said, adding that more encouragingly, business confidence rose to a three-year high. In addition, rates of inflation of both input costs and…

Equities investors saw more than N305 billion gain as Ticker: ACADEMY, CADBURY, and ETERNA among othes rallied on Friday due to improved investors’ appetite. The Nigerian Exchange (NGX) closed the week on a positive note, as key performance indicators climbed by 0.48% on Friday.

Investors Note: Before Dangote Cement Price Recovery Begins DANGOTE Cement is trading at N394 per share, a significant discount of 42.62% to its 52-week high on the Nigerian Exchange. The company is now valued at N6.713 trillion, and when you convert this to US dollars, you will be getting something like $4.2 billion. Here is it: every time Forbes puts out a billionaire ranking, Dangote Cement stock market price increases. If you don’t know, Aliko Dangote’s target is to become the world’s richest man—inside source. In its best form, Dangote Cement share price was at N686.7 in the equities market.…

Nigerian Ports Authority to Hike Tariffs by 15% The Nigerian Ports Authority (NPA) says it is reviewing its charges upward by 15 percent, citing a need for competitiveness and infrastructural upgrades. The Managing Director of the NPA, Dr Abubakar Dantsoho, made this known during a maritime stakeholders’ meeting held in Lagos on Thursday. He said that this was the first time the Nigeria Ports Authority would be reviewing its rates since 1993. Dantsoho, who was represented by Mr. Olalekan Badmus, Executive Director, Marine and Operation, said the authority was compelled by the exigency of bringing Nigerian ports up to speed…

The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, says the country’s economy is on the rise with great investment opportunities.

US Dollar Rises Against Trading Pairs in Forex Market The US dollar (USD) rose against its major trading partners early Thursday, except for a decline versus the Japanese yen after a hawkish Bank of Japan comment. The dollar index, DXY, is roughly 2% off its recent highs, and the question for investors is whether a further 1-2% is required, ING analyst Chris Turner said in a note. Driving this correction have been several factors, the largest of which has probably been this week’s tariff news, where it looks like the President Trump administration has been using tariffs for transactional, not…

Fitch Keeps Dangote on Rating Watch Negative Fitch Ratings has maintained Dangote Industries Limited’s (Dangote) National Long-Term Rating of ‘B+(nga)’ and Dangote Industries Funding Plc’s senior unsecured debt rating of ‘B+(nga)’ on Rating Watch Negative (RWN). The RWN reflects the uncertainty related to the group’s ability to repay or refinance maturing debt in 2025, with the earliest maturity in February 2025, Fitch said. According to the rating note, the company is in talks with its lenders to refinance the debt under new terms, which could include amendments and extensions of the overall debt maturities. Fitch said a lack of tangible…