The Market Pulse

Summit: Elumelu to partner Delta on power generation

Tony Elumelu said he would partner with Delta State on power generation, identifying effective execution of development plans as a major challenge. The announcement relates to Nigeria’s electricity supply and infrastructure outlook, with potential relevance to the utilities segment represented on the Nigerian Exchange.

Nigeria must lead global energy security – Seplat CEO

Seplat Energy CEO Effiong Okon said Nigeria should strengthen its role in global energy security by improving operational uptime, securing energy routes, increasing product supply and expanding gas infrastructure. The comments relate to the outlook and strategic operating environment for Nigeria’s oil and gas sector.

Daily Market Report fore 03-Aug-2026 @ngxgrp

The Nigerian equities market recorded another up day, as the NGX All-Share Index (NGXASI) closed the day up by 0.15%, to bring the Year-to-Date returns up 56.97%. The All Share Index closed at 245,645.96 against the previous close

First HoldCo's market cap crosses N6trn as shares price hits fresh high

First HoldCo Plc’s market capitalisation has climbed above N6 trillion after its shares rallied to a fresh high on the Nigerian Exchange (NGX).

The latest record further cements the company’s position as https://t.co/dfxN0iCTxO

ICYMI:
UNILEVER was marked down for its NGN2.00 dividend, from a last close of NGN147.95 to an ex-div reference of NGN145.95.
NGX has changed the timing of trading in newly listed securities, which will now open for trading at the start of the session on their listing date,

NEC approves $4.5bn refinancing of $3.3bn oil-backed loan

Nigeria’s National Economic Council has approved Project Gazelle 2, a $4.5 billion refinancing programme for a $3.3 billion oil-backed loan. The arrangement is expected to unlock $3 billion in liquidity and represents a significant development for Nigeria’s public finances, oil-linked funding and broader capital-market conditions.

TSC dispute: AON dares aviation unions, warns against flight disruption

The Airline Operators of Nigeria has challenged aviation unions over the administration of the Ticket Sales Charge, a statutory levy collected from passengers and remitted to the Nigeria Civil Aviation Authority. The association also warned that industrial action could disrupt flight operations.

Naira flat as interbank activity boosts daily FX liquidity

The naira traded largely flat against the dollar on the first trading day of August 2026, while increased interbank activity supported daily foreign-exchange liquidity. The development is relevant to Nigerian equities because currency conditions can affect market liquidity and companies’ foreign-exchange exposure.

Adding an extra ₦37.5B to the market cap of the NGX, AVA Capital starts with momentum.

Revenue from fees and commissions came in at ₦863.5m for AVA in H1 2026.

That’s 8.4% of Custodian Investment's and 6.0% of United Capital's fees & commissions over the same period. Will it https://t.co/hnEUiDnxR1

NDPC Judgment Will Reshape Corporate Data Governance – Expert

A technology expert said a Federal High Court judgment affirming the Nigeria Data Protection Commission’s regulatory powers under the 2023 data protection law will reshape corporate data governance. The development is expected to influence compliance standards, digital trust and investor confidence across Nigerian businesses.

Amazon just crossed $3 trillion in market value.

For context, that's roughly 19 times the value of every single company listed on the Nigerian Exchange combined.

One company. Nineteen times our entire market.

What pushed it there: their strongest cloud growth in over four

Delta unveils $100m fund to lure investors as FG backs diversification

Delta State has unveiled a $100 million fund aimed at attracting investors, while the federal government supports diversification into agriculture, manufacturing, logistics and industrial development. The initiative is relevant to NGX users because increased investment and economic activity could affect listed companies operating in or supplying these sectors.

this opay’s aggressive marketing hm
are they really trying to get listed on ngx?

NADF, NBS Unite to Drive Evidence-based Agricultural Financing with New Data Pact

The National Agricultural Development Fund and the National Bureau of Statistics have agreed to collaborate on agricultural data to support evidence-based financing and policymaking. The initiative is focused on improving information available for agricultural development and financing decisions, with potential relevance to Nigeria’s listed agriculture sector.

Gazelle 2: NEC Approves $4.5bn Facility To Strengthen External Reserves

The National Economic Council approved Project Gazelle 2, a $4.5 billion facility for NNPC Limited to refinance about $1.5 billion outstanding under the original Project Gazelle arrangement and provide an additional $3 billion in liquidity. The development has implications for external reserves, funding conditions and Nigeria’s oil sector.

Makinde knocks Tinubu’s economic policies, says Nigerians deserve better

Oyo State Governor Seyi Makinde criticised the Tinubu administration’s economic policies, particularly fuel subsidy removal and naira flotation. He said the measures have increased hardship and worsened living conditions for Nigerians, highlighting ongoing macroeconomic developments relevant to Nigerian Exchange investors.

Nigeria must deliver competitive barrels to win investment – Seplat’s CEO

Seplat’s CEO said Nigeria must produce oil and gas at globally competitive costs and with lower emissions intensity to attract and retain investment. The comments relate to operating conditions and investment prospects for Nigeria’s petroleum industry.

NGX Update Monday, 3 August 2026
The Nigerian stock market ended the day slightly higher.

The All Share Index (the main market scoreboard) rose 0.18% to close at 245,730.

Total value of all listed companies is now ₦158.61 trillion.

Almost 923 million shares changed hands

FirstHoldCo begins N1.4tn share sale after CBN approval

FirstHoldCo Plc has commenced a N1.4 trillion share offering after receiving approval from the Central Bank of Nigeria. The transaction is directly relevant to Nigerian Exchange investors because it concerns a listed company’s capital-raising activity and may affect its shareholder base and equity-market participation.

Inflationary Pressures Ease In July As Firms Report Slowest Input Cost Rise

Nigeria’s private-sector growth moderated in July 2026, with the Stanbic IBTC PMI falling to 52.5 from 53.4 in June while remaining above the expansion threshold. Firms also reported the slowest input-cost increase in five months, indicating easing inflationary pressure across business activity.