The Market Pulse

Oil prices head for 20% monthly surge despite Hormuz recovery

Global oil prices eased slightly as tanker traffic improved through the Strait of Hormuz, though crude markets remain on track for a significant monthly surge. This international commodity movement directly influences valuations and market sentiments for upstream and downstream energy equities listed on the Nigerian Exchange.

Nestlé Nigeria posts N64.8bn half-year profit as FX gains rises

Nestle Nigeria Plc reported a half-year profit of N64.8 billion, supported by an increase in foreign exchange gains and strong equity performance over multiple consecutive profitable quarters.

Ban on sale of sachet alcoholic drinks remains – NAFDAC

The National Agency for Food and Drug Administration and Control has reaffirmed its strict enforcement of the existing ban on small-volume alcoholic drinks. This regulatory stance continues to present operational and market implications for beverage manufacturers within the consumer goods sector.

@trigottista If not that MTN is listed on NGX, a lot of people would have called for the boycott or make attempt to buy them out. But listing on NGX, gave Nigeria sense of ownership of the company hence why it can’t be boycotted

Zenith Bank: H1 2026 accounts approved by Board July 29. Awaiting CBN sign-off before release.

Access Holdings: Board meeting set for August 27 to approve H1 2026 results.

MTN Nigeria: Interim dividend of N26 per share declared. Qualification date August 20.
Three major NGX https://t.co/x967ZJkAH5

First HoldCo to pay 60% of annual profit as dividends

First HoldCo has announced a policy to distribute sixty percent of its annual profit as dividends. The decision reflects the board's confidence in the institution's earnings capacity, capital position, asset quality, and diversified revenue streams.

@MudiTheInvestor 20 years! Nice one. 2004, that must have been the year GT and zenith got listed on the NGX if I am not mistaken. Kudos to him. He try.

Seplat sells 10% JV stake to NNPC for $281.6m (₦384.38 billion)

Seplat Energy has disclosed a corporate filing with the Nigerian Exchange regarding the sale of a ten percent joint venture stake to the Nigerian National Petroleum Company for two hundred and eighty-one point six million dollars.

HillCrest quotes N11.73bn Commercial Paper on FMDQ Exchange

FMDQ Securities Exchange has approved the quotation of HillCrest Agro-Allied Industries Limited commercial papers totaling N11.73 billion across two series.

💹 NGX Equities Snapshot – July 30, 2026

All-Share Index - 245,362.26 (-0.66%)
Value Traded - N230.74 Billion
Market Deals - 48,174
_
Advancers/Decliners - 21 to 47
Unchanged - 78
_
Volume of Shares Traded - 2.10 Billion
Total Equity Market Cap - N158.34 Trillion

As an investor, I don't buy sectors. I buy businesses.

Yes, both operate in oil and gas, but they are different companies with different management teams, different assets, different growth strategies, and different opportunities. Same reason I own GTCO and Zenith instead of https://t.co/WSPnhd26P2

How FCCPC’s airtime lending crackdown wiped out nearly three-quarters of MTN Nigeria’s fintech revenue

Regulatory intervention by the FCCPC regarding airtime lending significantly reduced MTN Nigeria's fintech revenue during the half-year financial period, impacting the telecommunications company's non-voice business segments as revealed in its latest performance report.

📊 Earnings Season Is Where Expectations Meet Reality.

A company can report record profits...

...and the stock still falls.

Another company can post average results...

...and the stock rallies.

Why?

Because the market doesn't reward numbers alone. It rewards results

The total equity value traded on NGX in just the first half 2026 is roughly 57 times greater than the cumulative green debt ever listed on NGX.

Can green capital flow through equities ?
Is there an investment/business case for this ?

The key questions behind my white paper

One of the best results on the NGX in H1 2026 delivered by MTN Nig.

Revenue nearly hit #3Trillon

Operating profit surged to #1.3Trillion

FX loss disappeared in 2026 H1 and turned to FX gain.

Profit-after tax ballooned to #707billion

Earnings per share increased to #33.76

Nigeria’s foreign reserves shed $114 million in seven days after reaching $52.04 billion peak

Nigeria experienced a decrease in its foreign reserves, shedding $114 million over a seven-day period following a recent peak of $52.04 billion. This shift in the country's external liquidity position can influence macroeconomic stability and investor sentiment across the domestic financial markets.

🚨 ZENITH BANK (NGX: ZENITHBANK): Still Undervalued?

Many investors chase the next “hot stock.”

But long-term wealth is often built by owning quality businesses at reasonable prices.

So the question is:

Are Zenith Bank’s fundamentals stronger than its current market

Resident doctors issue final deadline, threaten nationwide strike from Aug 10

The Nigerian Association of Resident Doctors has issued a final deadline and threatened to commence a nationwide strike on August 10 if the Federal Government fails to resolve its outstanding demands.

Naira flat as reserves cool by $120m in five days

The naira remained largely stable against the US dollar in the official foreign exchange market as Nigeria's external reserves experienced a decline over a five-day period, reflecting ongoing liquidity dynamics within the domestic currency market.

Lagos generates 69% of ₦1.69 trillion revenue from IGR, spends 91% in first half of 2026

Lagos State generated 1.69 trillion naira in revenue over six months, with internally generated revenue accounting for 69 percent of the total. The state government spent over 91 percent of the collected funds during the period, directing capital funding across infrastructure, health, education, and environmental sectors.