The Market Pulse

When Results Speak: Why Tinubu’s Commendation of Zacch Adedeji Matters

By Arabinrin Aderonke

President Bola Ahmed Tinubu's public commendation of the Chairman of the Nigeria Revenue Service, Dr. Zacch Adedeji, during the presentation of the Nigerian Exchange Group's

*When Results Speak: Why Tinubu’s Commendation of Zacch Adedeji Matters*

By Arabinrin Aderonke

President Bola Ahmed Tinubu's public commendation of the Chairman of the Nigeria Revenue Service, Dr. Zacch Adedeji, during the presentation of the Nigerian Exchange Group's https://t.co/SLBvdTMozM

*When Results Speak: Why Tinubu’s Commendation of Zacch Adedeji Matters*

By Arabinrin Aderonke

President Bola Ahmed Tinubu's public commendation of the Chairman of the Nigeria Revenue Service, Dr. Zacch Adedeji, during the presentation of the Nigerian Exchange Group's https://t.co/TJJdHHvUJ9

*When Results Speak: Why Tinubu’s Commendation of Zacch Adedeji Matters*

By Arabinrin Aderonke

President Bola Ahmed Tinubu's public commendation of the Chairman of the Nigeria Revenue Service, Dr. Zacch Adedeji, during the presentation of the Nigerian Exchange Group's

@ThatJuDaH Just curious, what makes GTCO that guy? Contemplating which in banking.

25 companies now control more than 90% of the entire NGX. Here is the full trillion naira club.

Out of over 150 listed companies on the Nigerian Exchange, only 25 have crossed a market capitalisation of N1 trillion, as at August 7, 2026.

Airtel Africa: N21.8 trillion
MTN

Taraba owes ₦85.5bn, not ₦1.2tn — Commissioner

Taraba State’s commissioner has clarified that the state’s debt stands at ₦85.5 billion, rather than ₦1.2 trillion, citing data from the Debt Management Office. The correction provides updated information on the state’s fiscal position, relevant to broader Nigerian macroeconomic and public-finance monitoring.

Nigeria’s oil boom is separating value creators from leveraged players

Nigeria’s listed oil and gas companies have recorded strong recent earnings, with combined half-year revenue highlighting differences between companies generating value and those carrying higher leverage. The report examines how the oil boom is affecting financial performance across the listed sector.

Seplat is one of the best companies to come out of 🇳🇬.
Small, but will hold 2,500 unit shares for at least 10yrs. https://t.co/tHyzkYNhdO

Meanwhile the earnings kept coming.

Aradel: ₦975.6bn in operating cash in six months. Seplat: $985.9M.

Real crude, real customers, real hard-currency earnings — not one-off gains.

This is what a market maturing looks like from the inside.

Quiet on the surface. Loud

@Rehomepro It is a valuation report on selected stocks of interest #GTCO, #Zenith #TIP, #FCMB

🤡Diversification🤡

What’s diversification and what’s risk management ?

Portfolio A

Zenith
GTB
WEMA
UBA
Custodian
Conhall
Ucap
Aradel
Eterna
Tip
Avacapital

Portfolio B

MTN
GTCO
Presco
Aradel
Unilever
TIP
UPDC REIT

Investors worry as Geregu Power defaults on bond payments

Geregu Power Plc has defaulted on its N40.09 billion Series 1 Senior Unsecured Bond, missing the eighth semi-annual coupon payment and the scheduled fourth principal bullet repayment. The updated listing status was published by FMDQ Securities Exchange, raising concerns about the company’s debt obligations.

FG incorporates company to deliver 90,000km nationwide fibre network

The Federal Government has incorporated Bridge Open Access, an independent company tasked with delivering Nigeria’s planned 90,000-kilometre nationwide fibre-optic network under Project BRIDGE. The development concerns national telecommunications infrastructure and may be relevant to investors tracking Nigeria’s listed ICT and telecoms companies.

How Nigeria Can Leverage India’s Expertise To Prevent Post- Harvest Losses, Enhance Livestock Production

India has expressed readiness to partner with Nigeria on reducing post-harvest losses, estimated at about 50%, while improving food processing and modernising livestock production. The proposed cooperation could support agricultural productivity and processing capacity, although no specific listed company, investment, or corporate action is identified.

Enugu Targets 20-hour Power Supply

Enugu State has begun constructing three 33KV feeders from the Ugwuaji Transmission Station to improve electricity supply across communities in four local government areas. The project targets up to 20 hours of daily power and is relevant to Nigeria’s utilities and broader electricity-sector operating environment.

Foreign Borrowing Hits $51.9bn in Q1 Amid N159.35trn Debts Stock As Fiscal Deficit Widens

Nigeria’s total public debt stock rose to N159.35 trillion as of March 31, 2026, while foreign borrowing reached $51.9 billion in the first quarter. The Debt Management Office report also highlighted a widening fiscal deficit, raising broader concerns about fiscal sustainability and financing conditions.

Frequently Mentioned Stocks to Watch by analysts:

• Seplat Energy (SEPLAT) – Oil & Gas
• FCMB Group (FCMB) – Banking (recent strong performer)
• Custodian Investment (CUSTODIAN) – Insurance / Investment
• CWG Plc (CWG) – ICT / Technology
• PZ Cussons Nigeria (PZ) –

NGX wants Nigerians to own stakes in Indorama, NLNG through listings

NGX Chief Executive Officer Temi Popoola urged the Federal Government to use the capital market to support economic transformation by listing stakes in strategic assets, including Indorama Eleme Petrochemicals and NLNG, on the Nigerian Exchange. The proposal could broaden opportunities for Nigerian investors to own shares in major enterprises.

MTN warns subscribers against fake 25GB anniversary data giveaway

MTN Nigeria has warned subscribers about fraudulent anniversary promotions offering 25GB of data. The company advised customers to verify promotions through official channels and avoid engaging with fake giveaways, highlighting a consumer-protection issue connected to the operations of listed telecoms company MTNN.