Headlines
The Nigeria Stock Market Hits 13-Year High

By Derrick Bangura
The Nigerian Exchange Limited (NGX) opened the holiday- shortened week to extend gains from last week as the All-Share Index crossed the 50,000 basis points psychological mark, the highest point since August 06, 2008.
Precisely, the NGX All-Share Index rose by 487.47 basis points or 0.98 per cent to close at 50,126.41 basis points, from 49,638.94 basis points last week to hit over 13-year historical high.
According to the NGX statistics, investors’ buy interests in BUA Cement which appreciated by 8.16 per cent, alongside consumer goods, Okomu Oil that also gained 10 per cent and Nigerian Breweries that rose by 9.98 per cent, were the major drivers of the stock market yesterday.
Consequently, the stock market in its year-to-date (YTD) return rose to 17.35 per cent, while market capitalisation gained N263 billion to close at N27.02 trillion from N26.761 trillion the market closed before the two-day holiday.
Commenting on the bullish market performance, the Vice President, Highcap securities Limited, Mr. David Adnori attributed the psychological growth to impressive corporate earnings for first quarter ended March 31, 2022 and hike in global oil price.
He added that foreign investors have renewed their interest in stocks on the bourse with strong fundamentals.
Speaking also, analyst at PAC Holdings, Mr. Wole Adeyeye, said: “There are some foreign investors’ interest in some multinational companies like Guinness Nigeria Plc that has hits N100 per share. So, some investors that could not buy Guinness Nigeria are moving to Nigerian Breweries, among other stocks on the NGX.”
He added that: “Foreign and local investors are taking advantage of undervalued stocks and the first quarter corporate earnings are fundamentals driving investors buy interest on the NGX.”
However, the market sentiment, as measured by market breadth closed positive as 31 stocks gained, relative to 27 losers. Okomu Oil and Wema Bank recorded the highest price gain of 10 per cent each to close at N161.70 and N3.85 respectively, per share.
Nigerian Breweries followed with a gain 9.98 per cent to close at N62.80, while Eterna and Presco appreciated by 9.97 per cent each to close at N6.62 and N157.70 respectively, per share.
On the other hand, Oando led the losers’ chart by 10 per cent to close at N5.67, per share. Trans-Nationwide Express followed with a decline of 9.88 per cent to close at 73 kobo, while AXA Mansard Insurance depreciated by 7.79 per cent to close at N2.25, per share.
Ikeja Hotel declined by 7.14 per cent to close at N1.30, while Cutix depreciated by 6.15 per cent to close at N2.29, per share.
However, the total volume of trades decreased by 89.55 per cent to 669.299 million units, valued at N5.989 billion, and exchanged in 7,251 deals.
Transactions in the shares of Union Bank of Nigeria (UBA) topped the activity chart with 263.647 million shares valued at N166.099 million.
Transnational Corporation of Nigeria (Transcorp) followed with 74.058 million shares worth N86.724 million, while AIICO Insurance traded 31.031 million shares valued at N24.721 million.
Chams traded 28.926 million shares valued at N66.531 million, while Access Holdings transacted 23.805 million shares worth N229.513 million.
According to analysts InvestmentOne Research, “The equities market closed on a bullish note today due to the gains recorded in the Consumer Goods and Industrial sectors.
“Going forward, we expect investor’s sentiments to be swayed by the search for real positive returns and developments in the interest rate space. We reiterate that this may be a great period to pick up some quality names with a medium to long-term investment horizon.”
Headlines
Noble Ladies Champion Women’s Financial Independence at Grand Inauguration in Abuja

Women from diverse backgrounds across Nigeria and beyond gathered at the Art and Culture Auditorium, Abuja, for the inauguration and convention of the Noble Ladies Association. The event, led by the association’s Founder and “visionary and polished Queen Mother,” Mrs. Margaret Chigozie Mkpuma, was a colourful display of feminine elegance, empowerment, and ambition.
The highly anticipated gathering, attended by over 700 members and counting, reflected the association’s mission to help women realise their potential while shifting mindsets away from dependency and over-glamorization of the ‘white collar job.’ According to the group, progress can be better achieved through innovation and creativity. “When a woman is able to earn and blossom on her own she has no reason to look at herself as a second fiddle,” the association stated.
One of the association’s standout initiatives is its women-only investment platform, which currently offers a minimum entry of ₦100,000 with a return of ₦130,000 over 30 days—an interest rate of 30 percent. Some members invest as much as ₦1 million, enjoying the same return rate. Mrs. Mkpuma explained that the scheme focuses on women because “women bear the greater brunt of poverty” and the platform seeks “to offer equity in the absence of economic equality.”
Education is also central to the Noble Ladies’ mission, regardless of age. Their mantra, “start again from where you stopped,” encourages women to return to school or upgrade their skills at any stage in life. The association believes that financial stability is vital in protecting women from cultural practices that dispossess widows of their late husbands’ assets, while also enabling them to raise morally and socially grounded families.
Founded on the vision of enhancing women’s skills and achieving financial stability, the association rests on a value system that discourages pity and promotes purpose. “You have a purpose and you build on that purpose to achieve great potentials and emancipation,” Mrs. Mkpuma said.
A criminologist by training and entrepreneur by practice, she cautions against idleness while waiting for formal employment. “There are billions in the informal and non-formal sectors waiting to be made,” she said, rejecting the “new normal of begging” and urging people to “be more introspective to find their purpose in life and hold on to it.”
Mrs. Mkpuma’s management style keeps members actively engaged, focusing on vocational skills and training to prepare them for competitive markets. She is exploring “innovative integration of uncommon technologies” and is already in talks with international franchises to invest in Nigeria, with Noble Ladies as first beneficiaries.
The association’s core values include mutual respect, innovation, forward-thinking, equal opportunity, and financial emancipation. With plans underway to establish a secretariat in the heart of Abuja, the group aims to expand its impact.
The event drew high-profile guests, including former Inspector General of Police, Mike Okiro, and a host of VIPs, marking a significant milestone in the association’s drive for women’s empowerment.
Headlines
NEPZA, FCT agree to create world-class FTZ environment

The Nigeria Export Processing Zones Authority (NEPZA) has stepped in to resolve the dispute between the Federal Capital Territory Administration and the Abuja Technology Village (ATV), a licensed Free Trade Zone, over the potential revocation of the zone’s land title.
Dr. Olufemi Ogunyemi, the Managing Director of NEPZA, urged ATV operators and investors to withdraw the lawsuit filed against the FCT administration immediately to facilitate a roundtable negotiation.
Dr. Ogunyemi delivered the charge during a courtesy visit to the Minister of the Federal Capital Territory, Barrister Nyesom Wike, on Thursday in Abuja.
You will recall that the ATV operators responded to the revocation notice issued by the FCT administration with a lawsuit.
Dr. Ogunyemi stated that the continued support for the growth of the Free Trade Zones Scheme would benefit the nation’s economy and the FCT’s development, emphasizing that the FCT administration recognized the scheme’s potential to accelerate industrialisation.
Dr. Ogunyemi, also the Chief Executive Officer of NEPZA, expressed his delight at the steps taken by the FCT minister to expand the economic frontier of the FCT through the proposed Abuja City Walk (ACW) project.
Dr. Ogunyemi further explained that the Authority was preparing to assess all the 63 licensed Free Trade Zones across the country with the view to vetting their functionality and contributions to the nation’s Foreign Direct Investment and export drives.
“I have come to discuss with His Excellency, the Minister of the Federal Capital Territory on the importance of supporting the ATV to succeed while also promoting the development of the Abuja City Walk project. We must work together to achieve this for the good of our nation,” he said.
On his part, the FCT Minister reiterated his unflinching determination to work towards President Bola Ahmed Tinubu’s Renewed Hope Agenda by bringing FDI to the FCT.
“We must fulfil Mr. President’s promises regarding industrialization, trade, and investment. In this context, the FCT will collaborate with NEPZA to review the future of ATV, a zone that was sponsored and supported by the FCT administration,” Wike said.
Barrister Wike also said that efforts were underway to fast-track the industrialisation process of the territory with the construction of the Abuja City Walk.
The minister further said the Abuja City Walk project was planned to cover over 200 hectares in the Abuja Technology Village corridor along Airport Road.
According to him, the business ecosystem aimed to create a lively, mixed-use urban center with residential, commercial, retail, hospitality, medical, and institutional facilities.
He added that the ACW would turn out to be a high-definition and world-class project that would give this administration’s Renewed Hope Agenda true meaning in the North-Central Region of the country.
Barrister Wike also indicated his continued pursuit of land and property owners who failed to fulfil their obligations to the FCT in his determination to develop the territory.
Headlines
Benue IDPs block highway, demand return to ancestral homes

Vehicular movement along the Yelwata axis of the Benue–Nasarawa highway was brought to a standstill on Wednesday as Internally Displaced Persons, IDPs, staged a protest, demanding immediate return to their ancestral homes.
The protesters, believed to be victims of persistent attacks by suspected herdsmen, blocked both lanes of the busy highway for several hours, chanting “We want to go back home”.
The protest caused disruption, leaving hundreds of motorists and passengers stranded.
Eyewitnesses said the displaced persons, many of whom have spent years in overcrowded IDP camps, are expressing deep frustration over the government’s delay in restoring security to their communities.
“We have suffered enough. We want to return to our homes and farms,” one of the protesters told reporters at the scene.
Security personnel were reportedly deployed to monitor the situation and prevent any escalation, though tensions remained high as of press time.
Efforts to reach the Benue State Emergency Management Agency, SEMA, and other relevant authorities for comment were unsuccessful.
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