Market Updates

Coronation expects NGX rally to extend on FTSE upgrade

Date10 Sep 2026

Comment0

The Nigerian equities market sustained its upward momentum as investor sentiment remained firmly bullish, driven by expectations surrounding the market’s formal return to international benchmark indices. The benchmark Nigerian Exchange Limited All-Share Index advanced by 2.36 per cent week-on-week to close at 246,992.42 points, extending the local bourse’s year-to-date return...

NGX loses N1.65tn as index drops below 242,223 points

Date10 Sep 2026

Comment0

The Nigerian Exchange Limited closed on a bearish note on Wednesday as selling pressure across major market sectors dragged overall performance downward. The benchmark NGX All-Share Index dropped by 1.05 per cent to close at 242,223.10 points, down from Tuesday’s 244,802.11 points. Similarly, total market capitalisation dipped by N1.65tn to...

NB posts N1tn net revenue in H1, clears debt

Date10 Sep 2026

Comment0

Nigerian Breweries Plc has reported a strengthened financial position in the first half of 2026, emerging debt-free with improved cash generation, positive retained earnings, and a stronger balance sheet following a strategic recovery from previous operational challenges. The Finance Director of the company, Maria Karaseva, disclosed this during an investor...

Nigerian equities swing to N1.88 trillion losses ahead of Dangote Refinery IPO

Date09 Sep 2026

Comment0

The Nigerian equities market reversed Monday’s bullish momentum in dramatic fashion on Tuesday, September 8, 2026, as the benchmark All-Share Index (ASI) declined 1.17% to close at 244,802.11 points, erasing approximately N1.88 trillion in market capitalisation in a single session. The sharp pullback came just one day after the market had...

Dangote to retain 84.34% control of Refinery after planned N2.15 trillion IPO, Prospectus shows

Date09 Sep 2026

Comment0

Despite N2.15 trillion planned share sale in what is widely considered to be Africa’s biggest share sale, Aliko Dangote’s beneficial ownership of Dangote Petroleum Refinery & Petrochemicals FZE (DPRP) will stand at 84.34%, not the 65.8% suggested by his largest single shareholding vehicle. Nairametrics analysis of the company’s prospectus for...

Dangote Refinery valued at N77.7 trillion–N82.6 trillion ahead of IPO

Date09 Sep 2026

Comment0

Two Nigerian investment firms, CardinalStone Research and Chapel Hill Denham, have independently valued Dangote Petroleum Refinery and Petrochemicals FZE at between N77.7 trillion and N82.62 trillion, above the N65.22 trillion indicative market capitalisation at which the refinery is expected to list on the Nigerian Exchange (NGX). The comparison follows the...

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