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Nigerian equities rank among world’s best performers as strong earnings drive market rally

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The Nigerian stock market continues to rank among the world’s best-performing equity markets, supported by robust corporate earnings, sustained growth in the banking sector and resilient domestic investor confidence, despite relatively subdued participation by foreign investors.

 

Market analysts say the Nigerian Exchange (NGX) has maintained its impressive performance amid a challenging global investment environment, with investors responding positively to strong financial results posted by listed companies across key sectors of the economy.

 

The banking industry has remained a major driver of the market’s performance, as leading financial institutions continue to report healthy earnings, improved profitability and stronger balance sheets. Investor optimism has also been reinforced by ongoing banking sector recapitalisation efforts, which are expected to enhance the resilience and long-term growth prospects of the industry.

 

Beyond banking, companies in the telecommunications, consumer goods, industrial and energy sectors have also contributed to the market’s resilience through improved operational performance and stronger revenue growth, helping sustain bullish sentiment on the exchange.

 

Analysts noted that consistent corporate earnings have encouraged domestic institutional and retail investors to increase their exposure to equities, supporting market liquidity and pushing share prices higher.

 

They, however, observed that foreign investor participation remains relatively weak compared to historical levels, as international portfolio investors continue to monitor macroeconomic developments, exchange rate stability and broader economic reforms before significantly increasing their exposure to Nigerian assets.

 

Despite the cautious stance of foreign investors, analysts believe the market has demonstrated remarkable resilience, with local investors increasingly driving trading activity and cushioning the impact of reduced foreign inflows.

 

According to market experts, ongoing economic reforms, improving corporate fundamentals and renewed investor confidence have strengthened the outlook for the Nigerian capital market. They added that continued improvements in macroeconomic stability, inflation management and foreign exchange liquidity could encourage a gradual return of foreign portfolio investment.

 

The analysts also noted that attractive company valuations, strong dividend yields and sustained earnings growth continue to make Nigerian equities appealing to long-term investors seeking value and income opportunities.

 

Looking ahead, market participants expect the Nigerian Exchange to maintain its positive momentum, provided listed companies continue to deliver strong financial performances and the broader economic environment remains supportive. They believe that increased foreign investor participation, alongside sustained domestic investment, could further strengthen market liquidity, deepen the capital market and reinforce Nigeria’s position as one of the world’s leading equity market performers.

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North African Airline incurs Nigeria’s wrath

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By Philippine Duru

philippineobetoduru@gmail.com

08034905774

 

 

Nigeria has warned EgyptAir to modernise the aircraft deployed on its Nigerian routes, stressing that continued use of ageing planes could affect the airline’s operations in the country.

The Minister of Aviation and Aerospace Development, Festus Keyamo, gave the warning during a bilateral meeting with his Egyptian counterpart, Sameh El-Hefny, on the sidelines of the ongoing El-Alamein International Airshow (EIAS 2026) in Egypt.

According to a statement issued by Keyamo’s media aide, Tunde Moshood, the meeting focused on improving air connectivity between Nigeria and Egypt and strengthening cooperation between the two countries’ civil aviation authorities.

The discussions also covered the expansion of technical and professional capacity, as well as opportunities for greater collaboration among airlines, airports, regulators and other aviation stakeholders.

Keyamo specifically urged EgyptAir to deploy newer-generation aircraft on its Nigerian routes, rather than continuing with what Nigeria considers ageing aircraft.

“The minister also used the engagement to emphasise the need for a stronger and more modern fleet deployment by EgyptAir on its Nigerian routes,” Moshood said.

He said Keyamo urged the airline’s management to move away from the continued deployment of ageing aircraft and prioritise newer-generation aircraft in the Nigerian market.

According to the minister, fleet modernisation was essential to improving passenger experience, operational efficiency and the airline’s competitiveness.

Keyamo further stressed the strategic importance of Nigeria-Egypt aviation relations, noting that both countries occupy important positions within Africa’s aviation ecosystem.

He reaffirmed Nigeria’s commitment to expanding strategic international partnerships to improve air connectivity, promote tourism and trade, support airline growth and deliver greater value to passengers and the aviation industry.

The Nigerian delegation also expressed the country’s readiness to work with Egypt’s Ministry of Civil Aviation to identify areas of mutual cooperation, particularly within the framework of the Single African Air Transport Market (SAATM).

Responding, El-Hefny welcomed the engagement and reaffirmed Egypt’s commitment to deepening aviation cooperation with Nigeria.

He called for closer collaboration between the two countries to advance air transport development and strengthen links between their aviation industries.

The Egyptian minister also advocated stronger institutional cooperation between the African Civil Aviation Commission (AFCAC) and the League of Arab Civil Aviation (LACA).

“Enhanced collaboration between the two regional aviation bodies could promote stronger partnerships and facilitate greater cooperation among African and Arab States,” El-Hefny said.

The meeting ended with both ministers reaffirming their commitment to sustained dialogue, stronger institutional cooperation and initiatives aimed at delivering tangible benefits to the aviation sectors of Nigeria and Egypt.

 

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₦10m monthly made from akara and bread business -Umo Eno

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Philippine Duru

philippineobetoduru@gmail.com

08034905774

 

 

 

Akwa Ibom State Governor, Umo Eno, has recounted his early experience in entrepreneurship, revealing that he once made not less than ₦10 million in a month from selling akara and bread.

Eno, who spoke while reflecting on his journey before entering public service, said the business experience played an important role in shaping his understanding of enterprise, hard work and wealth creation.

According to the governor, he started from a modest venture involving the sale of akara and bread before gradually expanding his business activities.

“I started selling akara and bread. I made not less than ₦10m in a month,” Eno said.

The governor’s account highlights the entrepreneurial path he pursued before rising through the ranks in business and eventually becoming governor of Akwa Ibom State.

Eno has frequently emphasised the importance of entrepreneurship and economic empowerment, particularly as a means of creating opportunities for young people and reducing dependence on government employment.

His recollection of the akara and bread business also underscored his view that small businesses, when properly managed and supported, can grow into significant sources of income and employment.

The governor’s comments come amid growing conversations around entrepreneurship, youth empowerment and the need to create sustainable livelihoods in Nigeria, where many young people are turning to small and medium-scale enterprises to earn a living.

Eno has continued to advocate policies and initiatives aimed at expanding economic opportunities and encouraging residents to become self-reliant through productive ventures.

His story of moving from selling akara and bread to occupying the highest political office in Akwa Ibom has also been presented as an example of how entrepreneurship, persistence and business experience can shape an individual’s journey to leadership.

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All share index gains about 0.81% as NGX rebounds

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The Nigerian Exchange Limited (NGX) rebounded last week, with the All-Share Index (ASI) gaining about 0.81 per cent to close at 241,298.47 points, as renewed investor interest in oil and gas and banking stocks lifted market sentiment.

 

The week’s gain translated into an estimated ₦1.29 trillion increase in market capitalisation, pushing the value of listed equities to about ₦155.83 trillion.

 

With the latest appreciation, the NGX’s year-to-date return remained strong at approximately 55 per cent, underscoring the market’s substantial gains despite intermittent periods of profit-taking and volatility.

 

The recovery was largely driven by buying interest in oil and gas and banking stocks, with Seplat Energy among the notable gainers during the week.

 

Market sentiment also received a boost from developments in Nigeria’s international financial-market standing. FTSE Russell confirmed the country’s reclassification to Frontier Market status, effective September 21, 2026, a move expected to influence international investor positioning toward Nigerian equities.

 

Further support came from Moody’s decision to revise Nigeria’s outlook to positive, reinforcing expectations that ongoing economic and fiscal reforms could improve the country’s credit profile.

 

Despite the positive performance, trading activity was relatively subdued, partly reflecting the shortened trading week. Market volume declined as investors adopted a more cautious approach amid prevailing economic uncertainties and profit-taking pressures.

 

Analysts said the latest rebound highlights continued investor appetite for fundamentally strong sectors, although the sustainability of the market’s upward trajectory will depend on macroeconomic conditions, corporate earnings, foreign investor participation and policy developments.

 

As investors enter a new trading week, attention is expected to remain on the performance of banking and energy stocks, while the implications of Nigeria’s forthcoming Frontier Market reclassification could further shape sentiment and capital flows into the equities market.

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