Echotitbits – Nigeria News

Tag: NGX

  • Geregu Power Plc Names Sean Manley as Interim Chief Executive Officer

    Geregu Power Plc Names Sean Manley as Interim Chief Executive Officer

    Leadership reports that Geregu Power Plc appointed Sean Manley as Interim Chief Executive Officer, effective February 2, 2026.

    The appointment is reportedly subject to approval by the Nigerian Electricity Regulatory Commission (NERC). Manley is described as having more than three decades of experience in the power sector, including work at Siemens on thermal power projects.

    The Punch and ThisDay also covered the development, noting positive investor sentiment and expectations that his international experience could support technical partnerships and operational upgrades.

    Echotitbits take: Interim CEO appointments usually signal a board prioritizing continuity and operational discipline while it searches for a permanent successor. For Geregu, the near-term market signal will be measurable improvements in availability, heat-rate performance, and maintenance execution—especially as power-sector reform pressures increase.

    Source: BusinessDay – https://businessday.ng/companies/article/geregu-taps-siemens-energys-sean-manley-as-interim-ceo-to-spearhead-new-growth-strategy/ 2026-01-30

    Photo Credit: BusinessDay

  • Domestic Investors Drive N126 Billion Gain in Nigerian Stock Market

    Domestic Investors Drive N126 Billion Gain in Nigerian Stock Market

    In an update published by Daily Post, the Nigerian Exchange (NGX) continued its positive run on Tuesday as investors saw their wealth grow by N126 billion. The market capitalization rose to N106.088 trillion, driven by strong buying interest in medium and large-cap stocks. The All-Share Index (ASI) advanced by 0.12 percent, reflecting a sustained optimism among domestic institutional investors and retail traders alike.

    The rally was spearheaded by gains in the real estate and financial services sectors, with firms like Union Homes and Access Corporation recording significant trading volumes. Despite a slight decline in overall trading volume compared to previous sessions, the transaction value remained high, suggesting that high-value trades are dominating the market floor.

    Leadership noted that the market performance was “largely driven by renewed buying interest in the banking sector,” specifically naming GTCO and Access Bank as key drivers. The Nation further validated the trend, reporting that “the Nigerian stock market has remained resilient despite global economic shifts,” attributing the growth to local pension fund activity.

    Echotitbits take: The dominance of domestic investors is a double-edged sword; it provides stability against global shocks but may limit the market’s total growth potential. Watch for any moves by the NGX to attract more foreign portfolio investors later in the year.

    Source: The Nation – https://thenationonlineng.net/stock-markets-capitalisation-rises-to-n127tr/ January 28, 2026

    Photo Credit: The Nation

  • Nigerian Stock Market Faces N395 Billion Loss Amid Profit-Taking

    Nigerian Stock Market Faces N395 Billion Loss Amid Profit-Taking

    The Nigerian Exchange (NGX) recorded a downturn last week as market capitalization fell by an estimated N395 billion, driven largely by intensified profit-taking following a period of sustained gains.

    The All-Share Index closed lower, reflecting softer sentiment across major sectors including banking, consumer goods, and industrial products. Even with the overall decline, selective counters in insurance and oil and gas reportedly posted modest gains, suggesting pockets of bargain hunting.

    Market analysts describe the move as a normal correction typical of extended rallies, with expectations that sentiment may stabilize as listed companies begin releasing full-year financial results. Separate reporting also cited the week’s closing market capitalization figure and noted that investor positioning remains sensitive to earnings and macro signals.

    Echotitbits take: This is a classic “sell-off” period. Smart investors will be looking for undervalued stocks during this dip, especially in the banking sector, which remains fundamentally strong despite the index drop.
    Source: Ripples – https://www.ripplesnigeria.com/ngx-roundup-investors-lose-n395bn-as-equity-market-continues-to-boom/  2026-01-26

    Photo Credit: Ripples

  • NGX Market Cap Nears ₦100 Trillion Milestone Amid Investor Optimism

    NGX Market Cap Nears ₦100 Trillion Milestone Amid Investor Optimism

    In a report by BusinessDay, the Nigerian Exchange (NGX) All-Share Index was said to be nearing 160,000 points, with market capitalization approaching the ₦100 trillion threshold. President Bola Tinubu reportedly welcomed the milestone and urged greater local investment.

    The rally has been linked to strong banking, industrial, and oil and gas performances, with investors using equities as a hedge amid inflation. Analysts also cited improved FX stability as a factor supporting sentiment and potential foreign inflows.

    Officials believe deeper markets could help the private sector raise long-term capital for infrastructure, though some observers warn market gains need to align with real-sector productivity to be sustainable.

    The Nation and Tribune Online also reported on rising activity, including increased retail participation through mobile trading apps.

    Echotitbits take: ₦100 trillion is a major psychological level. If sustained, it could accelerate IPO plans and broaden capital formation—provided earnings and governance keep pace.

    Source: NgxGroup – https://ngxgroup.com/ngx-market-cap-tops-%E2%82%A6100trn-on-strong-early-year-buying/ 2026-01-09

    Photo Credit: NGX Group

  • CBN warns bank recapitalisation could crowd out other capital-market fundraising

    CBN warns bank recapitalisation could crowd out other capital-market fundraising

    Reporting by Punch indicates the Central Bank of Nigeria (CBN) is warning that the ongoing bank recapitalisation drive could tilt capital-market funding even more heavily toward banks, leaving other issuers struggling to attract investor attention.

    The concern is not that recapitalisation is unnecessary, but that liquidity could become concentrated in bank equity and related offers if multiple large fundraises hit the market around the same time.

    CBN’s outlook describes a generally bullish capital-market tone, but stresses that momentum can become fragile when one sector dominates deal flow, raising concentration risk.

    For corporates outside banking, the implication is tougher pricing and slower book-building if banks keep taking the front seat through 2026.

    Elsewhere, ThisDay quoted the apex bank warning the market could face “higher concentration risk” and that recapitalisation may “crowd-out other issuers.” Premium Times also noted the central bank’s caution that rising non-performing loans and concentration risks could weigh on growth outcomes.

    Echotitbits take: The sequencing of bank offers will matter. If multiple tier-1s fundraise in the same quarter, expect wider discounts and weaker demand for non-bank IPOs and bonds. Timing discipline and a deeper investor base are the pressure valves.

    Source: BusinessDay – https://businessday.ng/companies/article/cbn-sees-capital-market-extending-bullish-streak-on-bank-recapitalisation/ January 7, 2026
    BusinessDay  January 7, 2026

    Photo Credit: BusinessDay

  • Nigerian Capital Market Hits Historic ₦100 Trillion Milestone

    Nigerian Capital Market Hits Historic ₦100 Trillion Milestone

    Figures cited by Vanguard show that the Nigerian Exchange Limited (NGX) has crossed the ₦100 trillion market capitalization threshold for the first time in history. This unprecedented surge occurred during the opening sessions of the first week of 2026, driven by aggressive buying interest in blue-chip stocks. Analysts attribute this ‘January effect’ to renewed investor confidence in the federal government’s long-term economic stability measures.

    The rally reflects a significant shift in market sentiment as both domestic and institutional investors pivot toward high-yielding equity assets. Experts noted that the milestone is not merely a symbolic victory but a reflection of the deepening of the Nigerian financial sector, which has seen increased participation from local pension fund administrators and retail investors seeking a hedge against previous inflationary pressures.

    The development was also highlighted by The Nation and BusinessDay. The Nation reported that the ‘stock market capitalization hits ₦101 trillion,’ marking a rapid climb in valuation. Similarly, BusinessDay observed that ‘Nigeria crosses ₦100trn market cap on January effect,’ noting that the surge positions the NGX as a dominant force in sub-Saharan African capital markets.

    Echotitbits take: Hitting the ₦100 trillion mark is a psychological breakthrough for the Nigerian economy. It suggests that despite the hardships of 2025, the private sector is betting on a 2026 recovery. However, the concentration of wealth in a few blue-chip stocks means the government must work harder to ensure this liquidity trickles down to small and medium enterprises (SMEs).
    Guardian – https://guardian.ng/news/apc-draws-battle-line-with-wike-over-rivers-political-control/ January 6 2026

    Photo Credit: Guardian

  • Listed insurers project N10.59bn combined Q1 profit as NGX forecasts highlight sector momentum

    Listed insurers project N10.59bn combined Q1 profit as NGX forecasts highlight sector momentum

    2026-01-02 09:00:00
    According to Punch, multiple listed insurers filed earnings forecasts indicating a combined profit after tax of N10.59bn for Q1 2026, with major contributions expected from AIICO, AXA Mansard, Regency Alliance and International Energy Insurance.

    The projection is framed as filing-driven rather than speculative—anchored on company guidance submitted to the Nigerian Exchange—signalling expectations around premium growth and investment income performance.

    Analysts caution that profit forecasts assume stable conditions; swing factors include claims ratios, investment yields, FX exposure on assets and consumer pressures that can dampen premium uptake.

    Validation: DMarketForces reported AIICO’s disclosed target and quoted: “AIICO Insurance Plc has set N5.088 billion as expected profit…” TradingView’s Reuters earnings snippet reported AXA Mansard’s outlook and quoted: “insurance revenue 47.18 billion naira, PBT 4.24 billion naira.”

    Echotitbits take: Insurance is quietly becoming a capital-market story. Watch whether these forecasts translate into stronger solvency buffers, broader product innovation beyond compulsory covers and better claims trust—profit is good, credibility is the long-term asset.

    Source: The Punch — 2026-01-02 (https://punchng.com/insurance-firms-project-n10-59bn-combined-q1-profit/)
    The Punch 2026-01-02

    Photo Credit: The Punch

  • FirstBank hits ₦500bn recapitalisation mark as market eyes the next wave of bank fundraising

    FirstBank hits ₦500bn recapitalisation mark as market eyes the next wave of bank fundraising

    2026-01-02 06:00:00
    According to Punch, FirstBank says it has completed a ₦500 billion capital raise, positioning it to meet the CBN’s new minimum capital thresholds and to compete more aggressively in a tighter regulatory environment.

    The fundraising is being framed as a resilience move—strengthening buffers and supporting growth—while also sending a signalling effect to investors ahead of the broader recapitalisation race across the sector.

    Market watchers say the milestone could influence peers’ timelines and pricing, as more banks line up with rights issues, private placements and other instruments.

    Premium Times reports FirstBank “successfully completes ₦500bn capital raise,” noting the wider recapitalisation push and investor attention. The Sun similarly says the bank has “met the ₦500 billion minimum capital base required by the Central Bank of Nigeria,” highlighting the compliance angle.

    Echotitbits take: Completing early matters—capital raising gets tougher when several banks are in the market at once. Watch whether FirstBank’s move shifts competitive pressure to mid‑tier lenders, and whether pricing dynamics start to favour banks with stronger retail funding and clearer growth narratives.

    Source: The Punch — January 2, 2026 (https://punchng.com/firstbank-completes-n500bn-capital-raise/)
    The Punch 2026-01-02

    Photo Credit: The Punch