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Nigerian Stock Market Takes a N659 Billion Hit Amid Mixed Performance

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1 year ago

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The Nigerian stock market experienced a notable decline on April 8, 2025, with the market capitalization of the Nigerian Exchange Ltd (NGX) dropping by N659 billion, representing a 1.01% decrease. The market’s value fell to N65.488 trillion, down from the N66.147 trillion recorded the previous Friday.....KINDLY READ THE FULL STORY HERE▶

The All-Share Index also recorded a significant fall, dropping by 1.23% or 1,295.02 points, closing at 104,216.87, compared to 105,511.89 in the prior trading session. This downturn was attributed to a variety of factors, including the recent listing of First Holdco Plc’s rights issue, which involved the issuance of nearly 6 billion ordinary shares at N25 each, effective from April 7, 2025.

Market breadth ended on a negative note, with 51 stocks declining and only 9 advancing. Among the biggest losers were Cornerstone Insurance, which fell by 10% to N2.97, and Oando Plc, which also dropped 10%, closing at N37.80 per share. Other notable losers included Secured Electronic Technology and RT Briscoe, both losing 10% to close at 45 kobo and N2.16 per share, respectively.

On the other hand, stocks like VFD Group and TotalEnergies Marketing Nigeria performed well, gaining 10% and 9.61%, respectively. Guinea Insurance and International Energy Insurance also saw increases of 9.52% and 9.33%, respectively, contributing to the limited gains in the market.

In terms of trade volume, First City Monument Bank led the activity chart, with 65.5 million shares worth N588.99 million traded. Fidelity Bank, Guaranty Trust Holding Company, Access Corporation, and Zenith Bank also saw considerable trading activity.

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GRA ROADS: WHY OKPEBHOLO’S DRAINAGE APPROACH MATTERS

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14 hours ago

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October 3, 2026

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....KINDLY READ THE FULL STORY HERE▶

Lasting roads begin with a clear plan for where rainwater will go. With major repairs planned for the dry season and a proposed drainage connection towards the Ogba River, Governor Monday Okpebholo’s administration has outlined an approach that tackles road rehabilitation and stormwater together.

In this episode of Truth Unveiled, we examine the planning behind that approach—and what its delivery could mean for homes, businesses and everyday movement across Benin’s GRA.

Watch the full podcast.

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“THE REBELLION IS ON: Man City Declares Total War On Premier League Chiefs Over Landmark Decision!”

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1 day ago

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October 2, 2026

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The Appeal: Manchester City has officially filed a comprehensive appeal challenging the findings of the Premier League Commission following its recent disciplinary decision.....KINDLY READ THE FULL STORY HERE▶

  • Filing Timeline and Claims: The club confirmed submitting the appeal at 7:00 PM on Thursday, October 1, 2026, describing the commission’s opinion as unsafe and containing clear material errors of law, principle, and fact while maintaining its complete innocence.

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  • The Verdict Details: The independent commission previously found City guilty of financial breaches between the 2009-10 and 2017-18 seasons—including arranging sham contracts to disguise over 830 million pounds in secret funding—as well as failing to fully cooperate with the investigation.

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  • Club and Leadership Response: City expressed surprise and disappointment at the verdict, insisting that comprehensive evidence supports their defense, though public comments remain limited due to ongoing proceedings. Chairman Khaldoon Al Mubarak and CEO Ferran Soriano expressed confidence in proving the club’s innocence.

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  • Pep Guardiola’s Support: Former manager Pep Guardiola reaffirmed his unwavering backing for the club, ownership, staff, and supporters in a social media statement, declaring that they will get through the challenge together.

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3. “Donald Duke is Better Than All Of Them”: Baba-Ahmed Explains Why PRP Is Shaking Up The 2027 Race!

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3 days ago

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October 1, 2026

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The National Chairman of the People’s Redemption Party (PRP), Dr. Hakeem Baba-Ahmed, has asserted that the party is exceptionally fortunate to feature former Cross River State Governor, Donald Duke, as its presidential candidate for the upcoming 2027 general elections.....KINDLY READ THE FULL STORY HERE▶

A Strong Endorsement for Donald Duke

  • Surpassing Competitors: Speaking during an interview, Baba-Ahmed confidently stated that, candidate for candidate, Donald Duke outperforms all other presidential contenders currently in the political space.

  • Integrity and Capability: He described Duke as part of a visionary leadership blueprint aimed at thinking critically, restoring national dignity, exhibiting true integrity, and offering young Nigerians a leadership style they can genuinely look up to.

The Strategic Push for an Opposition Coalition

Despite possessing what he considers the superior candidate, Baba-Ahmed explained why the party is actively championing a broader political alliance:

  • Consensus Over Ego: The PRP chairman emphasized that the party’s push for a mega-coalition is driven by consensus and constitutional processes rather than forcing Duke’s candidacy through on profile strength alone.

  • Defeating Fault Lines: Framing the 2027 election as a critical turning point for the nation, Baba-Ahmed noted that the stakes go far beyond individual party ambitions. The coalition aims to unite likeminded opposition forces to rescue Nigeria from its current trajectory and bridge its deep fault lines.

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