The Market Pulse

@aremuokulaja @ThatJuDaH Top 5 listed banks: First, UBA, GTCo, Access and Zenith.

Nigerian stocks set for profit-taking in August, Dangote Refinery in spotlight

Nigerian equities enter August with the NGX All-Share Index near 247,000 points and close to record highs. The report highlights the possibility of profit-taking during the month and identifies the Dangote Refinery as a key area of investor attention.

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2. Seplat Energy
Seplat sells crude and gas priced in US Dollars. Holding it gives your local portfolio a direct, built-in FX hedge without leaving the NGX

Protect your capital against Naira inflation while collecting dollar-backed dividend.

Enoh Hinges Manufacturing 20% GDP Target On Dangote’s Investments, Lauds Refinery

The Minister of State for Industry said Nigeria’s manufacturing contribution target of 20 per cent of GDP by 2030 and 25 per cent by 2035 depends partly on continued investment from Dangote businesses. He also praised Dangote’s refinery and broader industrial contributions to Nigeria’s economy.

Tinubu rejected bishops’ assessment of economy, insecurity – Onaiyekan

Archbishop John Onaiyekan said President Bola Tinubu rejected Catholic bishops’ assessment of Nigeria’s economic and security challenges. The bishops reportedly presented the difficulties facing citizens without softening their account. The item contains no specific company, stock, earnings, dividend, or market-data reference.

Berger Paints H1 pre-tax profit climbs 27% to N1.20 billion on strong paint sales

Berger Paints Nigeria Plc reported a pre-tax profit of N1.20 billion for the six months ended June 30, 2026, representing a 27% increase, with the performance attributed to strong paint sales.

Naira records slight gain in July on sustained dollar liquidity

The naira recorded a modest gain in July in the official foreign-exchange market, supported by sustained dollar liquidity. The development provides an update on currency conditions relevant to Nigerian listed companies and market participants.

@FEhiagwina I’d choose Seplat because of its combination of valuation, governance, earnings quality, and diversified cash flows. If I could own 2 energy stocks, Seplat & Aradel would b my top picks on d NGX, with Seplat as the core holding and Aradel as the higher-growth complement.

Lagos launches affordable sector-led financing model for businesses growth, job creation

Lagos State has launched Project SURGE, a sector-led financing model intended to improve businesses’ access to affordable funding and support sustainable job creation. The initiative is presented as a state-level economic development measure, although the report does not identify specific NGX-listed companies or quantify its market impact.

NGX Market Pulse 🇳🇬

Today's snapshot includes:
📈 ASI
💰 Market Cap
🏆 Top Gainers
📉 Top Losers
📊 Market Sentiment

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Nigerian equities market adds N11.11 trillion in July as banking stocks power recovery

Nigeria’s equities market gained approximately N11.11 trillion in investor wealth in July 2026. Sustained buying interest in banking and other fundamentally strong stocks supported the recovery, while intermittent profit-taking affected consumer goods and oil and gas counters.

TIP just confirmed an interim dividend of N0.20 per share.
Qualification date: August 10. Payment: August 31.
But here is the problem. The stock is down over 15% in two sessions on elevated volume.
A N0.20 dividend does not compensate for a N4 price drop.
Dividend chasing into a https://t.co/p5rekCxKCM

Electricity: No tariff increase for now, says Power Minister

The Power Minister said electricity tariffs will not increase for now and provided an update on an audit of the national grid. The policy development concerns Nigeria’s power-sector regulation and may be relevant to listed utilities and other companies exposed to electricity costs.

The Nigerian market right now is showing you two very different stories at the same time.

The NGX is up somewhere between 57% and 59% year to date, led by banking and consumer goods stocks that have outrun headline inflation. Meanwhile the CBN is still clearing 364-day Treasury

Protesters Tackle Oil Firms As Collapsed Bridge Cuts Off Community

Residents of Unyenge, an oil-producing community in Akwa Ibom State, protested alleged neglect by oil and gas extraction firms after a collapsed bridge cut off the community. The report highlights community infrastructure and social-relations issues relevant to Nigeria’s oil and gas operating environment, without identifying a specific listed company.

Lagos Govt Unveils First Integrated Energy Hub

Lagos State has inaugurated its first integrated energy hub in Oshodi, developed by Ibile Oil and Gas Corporation. The facility aims to drive the transition toward cleaner, affordable, and sustainable energy solutions within the state.

Resilience Keeps Tinubu’s Reform Agenda Afloat – Group

A policy think-tank has attributed the survival of the federal government economic reform agenda to the patience and sacrifices of Nigerians. The assessment highlights how avoiding unsustainable populist measures has provided a foundational framework for ongoing economic policies.

Nigeria’s top palm oil makers’ profits fall as cheaper imports bite

Listed Nigerian palm oil manufacturers Presco Plc and Okomu Oil Palm Plc have experienced profit declines due to increased pressure from cheaper imported palm oil competing in the domestic market.

NUPRC Proposes Swap Solution To Close 35% Domestic Gas Delivery Gap

The Nigerian Upstream Petroleum Regulatory Commission introduced a Gas Swap Framework to address a 35 percent domestic gas supply deficit. Producers averaged 2.05 billion cubic feet of gas daily to the local market through June 2026, prompting regulatory efforts to improve availability for domestic industrial and energy consumption.

TCN Disputes 2,500MW Stranded Power Figure, Cites 345MW Undispatched Capacity

The Transmission Company of Nigeria has contested assertions by power generation companies attributing persistent electricity shortfalls to transmission bottlenecks. Official data from the sector regulator indicates that generation shortfalls remain the primary driver of the current capacity challenges within the power infrastructure.