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Nigeria stock market gains N571bn in bullish trading

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Trading reopened on the Nigerian Stock Exchange (NSE) on Friday after Eid-el-Maolud celebration still on an upward trend, growing by N571 billion.

Speficially, the market capitalisation which opened at N15.386 trillion inched higher by N371 billion or 3.71 per cent to close at N15.957 trillion.

Also, the All-Share Index improved by 1,093.09 points or 3.71 per cent to close at 30,530.69 from 29,437.60 achieved on Wednesday.

A breakdown of the price movement chart shows that 43 stocks recorded price appreciation in contrast with 11 losers.

Nestle led the gainers’ table, gaining N129.20 to close at N1,421.70 per share.

Mobil followed with a gain of N17.80 to close at N196.10, while Total grew by N11 to close at N129.90 per share.

Dangote Cement garnered N4.70 to close at N160, while BUA Cement appreciated by N4.10 to close at N45.50 per share.

On the other hand, Guinness dominated the losers’ chart, declining by 55k to close at N17 per share.

NAHCO trailed with 12k to close at N2.10, while PZ Cussons dipped 10k to close at N4.45 per share.

Prestige Insurance lost 6k to close at 54k, while Ecobank Transnational Incorporated shed 5k to close at N5.65 per share.

Also, the volume of shares traded rose by 115.27 per cent with an exchange of 807.81 million shares valued at N10.50 billion in 8,113 deals.

This was against a turnover of 375.25 million shares worth N4.63 billion achieved in 5,947 deals on Wednesday.

The banking stocks remained investors delight with United Bank for Africa emerging the most active stock exchanging 108.55 million shares valued at N816.69 million.

Access Bank followed with 94.74 million shares worth N746.94 million, FBN Holdings traded 89.55 million shares valued at N581.46 million.

Zenith Bank traded 75.23 million shares worth N1.65 billion, while Guaranty Trust Bank exchanged 56.22 million shares valued at N1.80 billion.

Economy

FGN Poised To Dismantle Kidnap Economy – General Laka

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From Lateef Taiwo

The Coordinator, National Counter Terrorism Centre, Office of the National Security Adviser (NCTC-ONSA), Major General Adamu Laka, has reaffirmed the commitment of the Federal Government of Nigeria (FGN) to ending kidnap economy in the country.

General Laka stated this while briefing newsmen on the activities of the Multi-Agency Anti-Kidnap Fusion Cell in collaboration with the United Kingdom – National Crime Agency on Tuesday in Abuja.

He said the centre had officially launched the State Expansion Programme of the Multi-Agency Anti-Kidnap Fusion Cell, bridging a critical gap between national security coordination and state-level tactical response.

The National Coordinator noted that kidnapping in Nigeria was no longer a random crime, but an industry being ran by sophisticated and well-armed criminal networks that thrive on fear and fund violence through ransoms.

According to him, the programme was aimed at dismantling that economy by connecting national strategy with boots-on-ground action.

He said the fusion cell was created in partnership with the United Kingdom’s National Crime Agency (NCA) to facilitate high-profile rescues and breaking up kidnapping rings across the country.

The national coordinator noted that kidnapping in Nigeria was no longer a random crime, but an industry being ran by sophisticated and well-armed criminal networks that thrive on fear and fund violence through ransoms.
According to him, the programme was aimed at dismantling that economy by connecting national strategy with boots-on-ground action.

He said the fusion cell was created in partnership with the United Kingdom’s National Crime Agency (NCA) to facilitate high-profile rescues and breaking up kidnapping rings across the country.

General Laka noted the cell had played key roles in supporting rescue operations, disrupting kidnapping networks, and improving interagency coordination.

According to him, experience has shown that while national coordination is crucial, state-level engagement is also indispensable.

“Too often, real-time intelligence, local knowledge, and operational readiness reside with field commands, while national coordination can only succeed when it is informed by ground realities.

“This is the primary purpose of this programme – to close the gap between national-level coordination and state-level response. Essentially, to build direct operational linkages between the Cell and state commands across the country,” Laka said.

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Economy

Food Security: Sanwo-olu Commended Over Launch of ₦500bn ‘Produce for Lagos’

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The Good Governance Campaign Forum (GGCF) has praised the Lagos State Government for launching the “Produce for Lagos” programme, describing this initiative and its ₦500 billion Offtake Guarantee Fund as a brilliant solution to the food insecurity challenges the nation faces.

The Forum issued this commendation in a statement signed by its Coordinator, Rahman Suleiman, on Wednesday, following the official unveiling ceremony of the program earlier in the week.

The program aims to transform Lagos’ food system and reduce the state’s dependency on external food sources, receiving positive recognition both within and outside the state for the Sanwo-Olu-led government’s efforts.

According to Suleiman, the initiative is timely and represents a pioneering collaboration between the Lagos State Government, the private sector, the Lagos Food Systems Infrastructure Company (LAFSINCO), Ekolog, and the Lagos Bulk Trading Company. He noted that this model is designed not only to enhance food production and logistics across the state but could also serve as a scalable framework for improving livelihoods and national resilience.

Suleiman shared insights from the Forum’s sampling of public opinion in Lagos and other states, indicating that people are pleased with the Lagos State Government’s strategic programs aimed at tackling hunger and starvation. He emphasized that a key component of the “Produce for Lagos” program is its data-driven approach, which will help address agricultural inefficiencies and strengthen value chains.

“Food security is a collective responsibility that we cannot afford to neglect as a nation,” Suleiman stated. “We are grateful to God for providing us with a leader like Sanwo-Olu, who is visionary, forward-thinking, and compassionate toward ordinary people.”

He commended Governor Sanwo-Olu for consistently setting benchmarks and leading by example in subnational governance. These achievements underscore the economic growth, infrastructural development, and urban planning efforts of the Lagos government.

“Governor Sanwo-Olu is a trailblazer; he has done exceptionally well, and we fully support his programs and policies. His work over the past six years speaks for itself,” he added.

Suleiman noted that this initiative, a partnership between the state government and the private sector, is expected to significantly boost agricultural production.

During the launch, Governor Sanwo-Olu also announced the deployment of a fleet of 150 cold and dry trucks—the largest of its kind—in partnership with the private sector.

Business mogul Tony Elumelu, who supported the project with ₦25 billion, stated that food security is crucial and expressed satisfaction with the collaboration between Lagos and other participating states.

Other prominent individuals at the event included Amir Kamel, Vice President of Afreximbank, and Michel Deleen, the Consul General of the Kingdom of the Netherlands, among other dignitaries.

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Economy

Constitution Amendment: Group Urges NASS, FG To Prioritise Restructuring, Regionalism

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… rejects the creation of new states

A prominent youth organization, the Youth Bureau, has urged the National Assembly to prioritize genuine restructuring of Nigeria, emphasizing regional autonomy and the establishment of State Police without further delay. This call comes as the legislature reviews the nation’s constitution.

The demand was articulated in the group’s Position Paper presented to the National Assembly Committee on Constitutional Amendment for the South-West Zone, which convened recently in Lagos.

In a statement signed by its Southern Coordinator, AbdulRahman AbdulRazaq, on Thursday in Lagos, the Youth Bureau also rejected calls for the creation of new states. The group warned that the Supreme Court’s judgment on local government contradicts their position, asserting that its implementation should be set aside. They believe only the State Government should have the authority to create local governments.

AbdulRazaq urged President Bola Ahmed Tinubu to prioritize comprehensive restructuring, as it is fundamental to effective governance and development. He encouraged the National Assembly Committee on Constitutional Amendment to make bold decisions that will have a positive impact on the populace.

He pointed out that the regional governments established in the late 1960s in Nigeria facilitated healthy governance and development, particularly under the Action Group government led by Chief Obafemi Awolowo in the Western Region. During that period, significant advancements were made in free education initiatives, healthcare infrastructure, industrialization, and overall infrastructure growth.

AbdulRazaq noted that the abolition of regional autonomy by the late General Aguyi Ironsi led to a unitary system of government, which resulted in excessive concentration of power in the central government, a lack of adherence to the rule of law, and restricted resource control and financial autonomy for the regions.

The Youth Bureau’s position paper includes the following demands and recommendations for the National Assembly Committee on Constitutional Amendment:

Our Demands

We urge the National Assembly Committee to consider the following:

  1. Genuine restructuring of the country based on regional autonomy.
  2. No need for the creation of additional states.
  3. The formation of State Police without further delay.
  4. Recognition that local government is a component of state government; the Supreme Court’s judgment on local government contradicts this principle, and its implementation should be set aside. Only the State Government should have the authority to create local governments.

Conclusion

We believe that a decentralized governance system founded on devolution and decentralization will ensure political and fiscal autonomy for its component units and promote equity among them. We urge President Bola Ahmed Tinubu to prioritize comprehensive restructuring and encourage the National Assembly Committee to make bold decisions that positively affect the citizenry.

Recommendations

  • Decentralize governance in theory, practice, content, and character.
  • Ensure equity among the component units.
  • Guarantee political and fiscal autonomy for the regions.
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