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NGX weekly: Investors gain N1.137trn as Wema, FBN, Universal lead

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Nigerian Exchange Ltd. (NGX) All-Share Index and Market Capitalisation appreciated by 1.80 per cent each, to close the week at 105,451.06 and N64.303 trillion respectively.

Theses are against 103,586.33 and 63.166 trillion posted last week.

Consequently, equity investors gained a total of N1.137 trillion for the week under review.

Similarly, all other indices finished higher with the exception of NGX Insurance, NGX AFR Bank Value, NGX AFR Div Yield, NGX MERI Value, NGX Consumer Goods, NGX Oil and Gas.

Also, NGX Industrial Goods which depreciated by 6.91, 0.08, 1.11, 0.17, 0.34, 0.34 and 0.26 per cent respectively, while the NGX ASeM closed flat.

Meanwhile, a total turnover of 4.698 billion shares worth N85.043 billion in 72,562 deals was traded this week by investors on the floor of the Exchange.

This was in contrast to a total of 2.618 billion shares valued at N69.742 billion that exchanged hands last week in 47,953 deals.

The Financial Services Industry measured by volume led the activity chart with 3.470 billion shares valued at N40.791 billion traded in 34,364 deals: thus contributing 73.86 and

47.97 per cent to the total equity turnover volume and value respectively.

The Services industry followed with 407.032 million shares worth N2.226 billion in 4,996 deals.

Third place was the ICT Industry, with a turnover of 237.680 million shares worth N3.628 billion in 5,280 deals.

Trading in top three equities namely, Wema Bank Plc, FBN Holdings Plc and Universal Insurance Plc, measured by volume accounted for 1.679 billion shares worth N20.838 billion in 4,922 deals.

These contributed 35.74 per cent and 24.50 per cent to the total equity turnover in volume and value respectively.

Also, 51 equities appreciated in price during the week, lower than 82 equities in the previous week.

Thirty-nine equities depreciated in price higher than 18 in the previous week, while 62 equities remained unchanged, higher than 52 recorded in the previous week.

Multiverse Mining and Exploration Plc led 50 other advanced equities on the gainers’ table by 53.42 per cent to close at N12.35 per share.

Sunu Assurances also led the 38 other declined equities on losers’ table by 36.52 per cent to close at N7.30 per share.

Looking ahead, analysts at Cowry Asset Management Ltd., predicted bullish momentum at the equity market to persist in the coming week.

The analysts said this would be supported by anticipation of fourth quarter 2024 unaudited financial results and preparations for the dividend earning season.

They noted that positive sentiment is likely to prevail as stocks continue to reach new historical highs, bolstered by favourable market valuations and outlooks.

“Nonetheless, we advise investors to focus on fundamentally sound stocks to maximise returns amidst the ongoing rally,” the analysts said. (NAN)

Culled from NAN


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REA Provides Electricity Access To 8 Million Nigerians

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Abba Aliyu, the Chief Executive Officer, Rural Electrification Agency (REA), says the agency has provided electricity access to about eight million Nigerians out of the 90 million people said to be without electricity supply.

He stated that the electricity provision was made under the Nigeria Electrification Project in line with the Federal Government’s commitment to close the energy deficit gap. He added that the agency planned to ensure that many more Nigerian benefit from the scheme in 2025.

Aliyu said: “There are reports that many Nigerians don’t have access to electricity. But under the Nigeria Electrification Project, we have provided electricity to eight million Nigerians. We also have a programme that is targeting 17.5 million people. So, in three years 17.5 million people will also be out of darkness.

“We are currently working on deploying 42 interconnected mini-grids, and six have already been completed in Osun, Plateau, Cross River, and Niger State. “We are moving away from the traditional concept of government issuing contracts. What we are doing is incentivising the private sector to deploy infrastructure.

This ensures sustainability because they have their own money at stake.” He added: “It is a myth to continuously think that government infrastructure is deployed and not working. The projects we are deploying, more especially those under the private sector, are working.

“Part of the discussion during the President’s visit to Japan was a $190m co-financing agreement with JICA for the distributed access programme. That will provide electricity to an additional 1.83 million Nigerians.

“Before this administration, the country only had 120 megawatts of solar assembly capacity. Today, we have over 600 megawatts, and with new projects signed, Nigeria will soon hit close to three gigawatts. This shows that dependence on imported panels is being reversed.”

 


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Exhibitors Hail FNITCC Atlanta as Catalyst for Nigeria’s Non-Oil Export Expansion

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Exhibitors at the recently concluded Fidelity Nigeria International Trade & Creative Connect (FNITCC) in Atlanta, Georgia have lauded the event as a transformative platform for showcasing Nigerian non-oil exports and businesses on the global stage.

Hosted by Fidelity Bank Plc in collaboration with AFRICON from September 18 to 20, 2025, FNITCC brought together innovative, export-ready Nigerian enterprises across diverse sectors—including fashion, arts, manufacturing, and technology—creating a vibrant space for commerce, connection, and cultural celebration.

Praised for its energy and flawless execution, FNITCC Atlanta 2025 marked a significant leap forward from previous editions. With increased attendance, enhanced booth setups, and deeper engagement, participants described the experience as “a clear step up” and “more impactful than ever.”

“It was an honor to exhibit among such a vibrant community of creatives, entrepreneurs, and cultural ambassadors. We left FNITCC 2025 with new customers, meaningful connections, and a renewed sense of purpose. Well done to Fidelity Bank for championing Nigerian businesses and bridging global markets,” shared the By Nuga Designs team.

Exhibitors also highlighted the power of community and resilience, recounting moments of spontaneous international deals and heartfelt support.

“Last year, I was devastated when our goods didn’t arrive on time,” one exhibitor recalled. “But this year, even in my absence, my fellow AWE sisters stepped in. A surprise visit from a buyer led to an impromptu video-call deal that changed everything. FNITCC reminded me that connections often matter more than sales.”

Gratitude flowed freely for the Fidelity Bank team and the behind-the-scenes contributors who ensured the event’s success.

“On behalf of FSGF AFRICA LTD, I extend our deepest gratitude to Fidelity Bank for hosting such a wonderful event,” said another exhibitor. “To the Fidelity team—your warmth, professionalism, and commitment made this experience truly remarkable.”

FNITCC 2025 also celebrated Nigerian excellence and the rising influence of women-led businesses.

“Wow! Sisters online, making the impossible possible! This is the Africa we want. Nigerians are believing in Made-in-Nigeria products—and that belief is powerful,” shared one emotionally moved participant.

“Fidelity is carving out a big slice in Nigeria’s story of entrepreneurs and entrepreneurship—and doing it with focus,” added another.

Reflecting on the vision behind FNITCC, Dr. Nneka Onyeali-Ikpe, Managing Director and CEO of Fidelity Bank Plc, reaffirmed the bank’s commitment to expanding Nigeria-U.S. trade beyond oil. She noted that while Nigeria’s non-oil exports currently stand at under $5 billion annually, the potential is immense. “At Fidelity Bank, we believe access to global markets is a pathway to shared prosperity. That belief inspired the creation of FNITCC,” she said.

FNITCC 2025 demonstrated that when Nigerian innovation meets global opportunity, extraordinary outcomes follow. As Fidelity Bank continues to invest in platforms that amplify local talent and drive cross-border growth, the future of Nigerian enterprise shines brighter than ever.

Ranked among the best banks in Nigeria, Fidelity Bank Plc is a full-fledged Commercial Deposit Money Bank serving over 9.1 million customers through digital banking channels, its 255 business offices in Nigeria and United Kingdom subsidiary, FidBank UK Limited.

The Bank is the recipient of multiple local and international Awards, including the 2024 Excellence in Digital Transformation & MSME Banking Award by BusinessDay Banks and Financial Institutions (BAFI) Awards; the 2024 Most Innovative Mobile Banking Application award for its Fidelity Mobile App by Global Business Outlook, and the 2024 Most Innovative Investment Banking Service Provider award by Global Brands Magazine. Additionally, the Bank was recognized as the Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence and as the Export Financing Bank of the Year by the BusinessDay Banks and Financial Institutions (BAFI) Awards.


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Aig-Imoukhuede, DJ Cuppy, Aboyeji, Others to Join Africa Breakfast Convos in NYC

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BlackHouse Media (BHM) in partnership with Allison Worldwide, and The King’s Trust Group has announced the stellar line-up of speakers for the second edition of the exclusive Africa Breakfast Conversations (ABC), taking place on Friday, 26 September 2025 at the World Trade Center, New York, on the sidelines of the 80th United Nations General Assembly (UNGA 80).

Headlining the event is an exclusive fireside chat featuring one of Africa’s most influential business leaders, Aigboje Aig-Imoukhuede — Chairman of Access Bank, CEO of Coronation Group, and a member of The King’s Trust Africa Advisory Board. Aig-Imoukhuede, one of Africa’s most respected bankers and investors, and  his session will focus on Africa’s Investment Landscape, exploring high-impact investment opportunities, bridging African entrepreneurs to global capital, and unlocking Africa’s youth as an investment engine.

Under the theme “African Innovation: Building Together for Sustainable Development,” this high-level gathering will unite influential voices from business, government, technology, media, and philanthropy to explore how African-led innovation and cross-sector partnerships can fast-track progress toward the UN SDGs.

The 2025 edition features high-level conversations, including a panel titled, Generation Potential — Powering Africa’s Youth Through Nutrition, Skills, Access & Opportunity. This panel session will feature bold conversation on fueling Africa’s future through nutrition, education, and opportunity and will feature the following panelists:

  • Wawira Njiru, Founder & CEO, Food4Education; delivering 500,000+ daily subsidised school meals in Kenya while building local supply chains and creating jobs for youths and women.
  • Geoffrey Kasangaki, CEO, Asante Africa Foundation; equipping 800,000+ rural youth with life skills, leadership training, and job readiness training to accelerate classroom learning and develop future leaders, confident job seekers and innovative entrepreneurs.
  • Abeiku Greene, Outgoing Executive Director, Junior Achievement Ghana; preparing over 200,000 youth for the future of work through financial literacy and entrepreneurship education.
  • Ben Ovio, Chief Responsibility Executive, ENDIP International, advancing education, youth enterprise development, technical vocational skills training, and community empowerment to create sustainable impact across West and East Africa.

The panel will be moderated by Claudine Moore, Managing Director, Africa, Allison Worldwide and one of ABC’s hosts.

Panel two will focus on Africa’s Role in the Future of Technology, Media, AI & Finance, exploring how Africa’s tech and creative ecosystems are shaping global influence. This will be led by leading industry experts and business leaders including:

  • Iyin Aboyeji, Founding Partner, Future Africa; co-founder of Flutterwave and Andela, catalysing Africa’s tech start-up economy.
  • Ayeni Adekunle, Founder & CEO, BHM; redefining modern PR and brand storytelling across Africa’s creative industries.
  • Kayode Akintemi,  Managing Director, News Central TV; building one of Africa’s fastest-growing pan-African news platforms.
  • Cuppy, DJ, Philanthropist & King’s Trust Global Ambassador; championing youth empowerment and education through her global platform.
  • Sonny Irosche, Senior Academic Advisor, African Studies Centre, Oxford University & AI for Business, Said Business School, providing strategic insights on AI adoption and governance in Africa.

This panel will be moderated by Wendu Nwakanma, Vice President, Northeast Regional Business Development Lead, Goldman Sachs.

The event will also feature the launch of the Second Edition of the Africa Business Cultural Intelligence Report by Allison Africa, offering actionable insights for global and pan-African businesses operating in five high-potential economies including Ghana, Rwanda, Egypt, Angola, and Côte d’Ivoire.

“Africa’s growth story is real and the Africa Breakfast Conversations is fast becoming the go-to platform for authentic cross-sector collaboration around Africa’s development”- Claudine Moore, Managing Director, Africa at Allison Worldwide. “From youthful innovators to tech disruptors and global investors, the event will spark the bold ideas, partnerships, and investments that will power Africa’s next decade of growth.”

Launched in 2024 by Allison Worldwide and BHM in partnership, Africa Breakfast Conversations was created to foster meaningful dialogue between African innovators, global investors, and development leaders during UNGA. Click here to register to attend


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