Market Updates

Dangote Petroleum Refinery’s initial public offering (IPO) attracted approximately N5.85 trillion in share applications from nearly 3.8 million subscribers, significantly exceeding the company’s initial fundraising target of N2.15 trillion. Subscription data seen by Nairametrics shows that investors applied for 11.15 billion shares valued at N5.85 trillion, compared with the 4.1... Read More →

Custodian used to be easy to explain: it sold insurance and invested the premiums. Then, last November, it bought a merchant bank; before that, a real estate company, UPDC. Now it is harder to explain, and it is cheaper than it should be.  Subscribe to FTM, our exclusive stock recommendation... Read More →

The Nigerian equities market bounced back strongly on Monday, November 9, 2026, gaining N2.32 trillion in market capitalization or 1.44% to close higher at N163.92 trillion, up from N161.59 trillion and driven by robust gains in industrial stocks led by Dangote Cement and Transcorp Power Plc. The NGX All-Share Index... Read More →

AIICO Insurance Plc reported that its nine-month pre-tax profit had jumped 27% to N19.4 billion. Its profit after tax of N17.3 billion beat the N14.4 billion the insurer had forecast to the exchange earlier in the year. Its shares fell 6.6% that day. AIICO was not alone. Across Nigeria’s listed... Read More →

Seven foreign-owned companies on the Nigerian Exchange that disclose the figures booked N129.4 billion in royalties, licence, technical and management fees to their parent groups in the nine months through September. That is up 7.7% from N120.1 billion a year earlier, according to their unaudited third-quarter filings. At three of... Read More →

The weekly losses across key indices reflect sustained bearish sentiment and cautious trading amid macroeconomic uncertainties, with investors watching liquidity trends and corporate disclosures for signs of recovery, JIDE AJIA reports The Nigerian Exchange Limited recorded a total turnover of 2.829bn shares worth N208.407bn in 192,158 deals during the week... Read More →