Business
Nigerian Stock Market records robust trading activity
By Philippine Duru
philippineobetoduru@gmail.com
08034905774
The Nigerian stock market has continued to witness strong investor participation and impressive trading volumes, reflecting renewed confidence in the nation’s capital market and growing optimism about corporate earnings prospects in the second half of 2026.
Market data from recent trading sessions indicate sustained buying interest across major sectors, with investors actively repositioning their portfolios in anticipation of stronger corporate performances, attractive dividend yields, and emerging opportunities created by ongoing economic reforms.
The heightened market activity has been characterized by increased transaction volumes, rising market turnover, and sustained demand for fundamentally strong stocks across the banking, industrial, consumer goods, and insurance sectors.
Analysts say the robust trading momentum underscores improving investor sentiment as market participants respond positively to signs of economic stabilization, easing uncertainty in some macroeconomic indicators, and the resilience demonstrated by listed companies despite prevailing business challenges.
The sustained rally has also been supported by institutional investors, pension fund managers, asset management firms, and retail investors seeking higher returns amid changing interest rate dynamics and evolving investment opportunities.
Market operators noted that daily trading volumes have remained elevated in recent weeks, with investors actively accumulating shares of companies viewed as undervalued or well-positioned to benefit from Nigeria’s ongoing economic transformation.
According to investment analysts, the increased market participation reflects confidence in the ability of listed companies to sustain earnings growth and navigate challenges such as inflationary pressures, foreign exchange volatility, and rising operating costs.
The banking sector has remained one of the primary drivers of market activity, supported by strong earnings performances, recapitalization initiatives, expanding digital banking operations, and improved profitability metrics. Financial services stocks have continued to attract substantial investor attention as institutions position themselves for future growth opportunities.
However, beyond the banking sector, analysts are increasingly drawing attention to insurance stocks as a potentially attractive investment destination for the second half of 2026.
Industry experts believe the insurance sector may emerge as one of the market’s strongest performers over the coming months due to a combination of regulatory reforms, improving operational efficiency, stronger balance sheets, and increasing insurance penetration across the country.
The ongoing recapitalization programme within the insurance industry is expected to strengthen operators, enhance underwriting capacity, and improve investor confidence. Market observers note that companies that successfully meet regulatory capital requirements could emerge more competitive and financially resilient.
Insurance firms are also benefiting from rising investment income generated through exposure to equities, fixed-income securities, and other financial assets. The performance of the capital market itself has contributed positively to the valuation of investment portfolios held by many insurers.
Analysts further point to the sector’s relatively low valuation compared to other segments of the market, arguing that several insurance stocks continue to trade below their intrinsic value despite improving financial fundamentals.
This valuation gap, they say, presents opportunities for investors seeking exposure to potentially high-growth sectors with room for significant price appreciation.
The outlook for the industry has also been strengthened by increasing awareness of insurance products, digital distribution channels, and efforts by regulators to deepen insurance penetration in Africa’s largest economy.
Market participants believe that as economic activities expand and businesses increasingly prioritize risk management, demand for insurance services could rise significantly, creating additional revenue opportunities for operators.
Several analysts have projected that insurance companies with strong capital positions, diversified product offerings, and effective digital strategies may outperform broader market averages during the second half of the year.
The broader stock market has also benefited from expectations of improved corporate earnings, with investors closely monitoring half-year financial results expected from major listed companies. Positive earnings surprises could provide further support for market momentum and attract additional capital inflows.
Foreign portfolio investors, who have gradually returned to the Nigerian market following improvements in foreign exchange market reforms and liquidity conditions, are also contributing to increased trading activity. Their participation has helped improve market depth and strengthen overall investor confidence.
Economic experts note that while risks remain, including inflationary pressures and global economic uncertainties, the resilience displayed by Nigeria’s capital market demonstrates its growing importance as a platform for wealth creation and long-term investment.
They argue that sectors with strong fundamentals, efficient management structures, and clear growth strategies are likely to continue attracting investor interest as market participants seek opportunities capable of delivering superior returns.
As the second half of 2026 unfolds, insurance stocks are increasingly being viewed as one of the market’s most promising opportunities, while strong trading volumes across the Nigerian Exchange signal sustained investor confidence in the long-term prospects of the country’s corporate sector and broader economy.
With institutional and retail investors actively repositioning their portfolios, analysts expect market activity to remain robust in the months ahead, supported by earnings growth expectations, sector-specific opportunities, and the continuing evolution of Nigeria’s investment landscape.
Business
North African Airline incurs Nigeria’s wrath
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.
Business
₦10m monthly made from akara and bread business -Umo Eno
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.
Business
All share index gains about 0.81% as NGX rebounds
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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