The Market Pulse

United Bank for Africa (UBA) Plc has announced that its Group Chairman, Tony O. Elumelu, will retire from the Board of Directors on August 21, 2026, after completing the 12-year tenure limit for non-executive directors.

$AIRTELAFRI at 5,801.40 NGN, up 10%. Market cap: 21,813,264M. That’s a phone company priced like a small republic. Signal strength clearly excellent. #NGX #AfricanMarkets

⏰ With one hour left in trading, the NGX is sending mixed signals.

Market breadth is almost dead even at 24 gainers vs 25 losers, but capital is far from evenly distributed.

FIRSTHOLDCO alone has accounted for ₦84.1bn in value traded, dwarfing ZENITHBANK's ₦4.07bn in second https://t.co/qFwMkgS3B6

Good. Let us keep bringing them on: GTB, First bank, FCMB, Zenith, Stanbic IBTC, Access bank, ........ https://t.co/UzS8CmVYwF

MTNN and NAHCO doing the lord’s work.
Before you know it, MTNN at 1k naira. https://t.co/N1BJ3FyobX

DEAR FRIENDS,
While people are complaining about Nigeria, please 🙏 don't snooze on the opportunities that abound.
Please open a STANBIC IBTC EQUITY funds account. Discipline yourself to be putting at as much money as you can save there monthly.
I have tested and tasted it.... https://t.co/WYyTt7NI5x

MTNN

Make that 12% ..........

Another domination from the bulls as 16.14 million has been traded this week.

MTNN at this price is cheap

#NFA https://t.co/tnbm7GIzOE https://t.co/Bk9nEtUj42

@Okayy_yo Less risk, go for mutual funds and not equity type.
Iclf
Stanbic funds
Digisave

🇳🇬 Dangote Refinery IPO: Opportunity or Hype?

The refinery could transform Nigeria's economy, but smart investors should look beyond the excitement. Understand the valuation, risks, and long-term potential before investing.

#DangoteIPO #NGX #Nigeria https://t.co/V2Qcm0lBs5

🇳🇬 Dangote Refinery's proposed IPO could be one of Nigeria's biggest investment opportunities—but what are the risks? Here's a data-driven breakdown of the valuation, opportunities, and red flags every investor should know. #DangoteIPO #NGX #Nigeria https://t.co/EL1Xl0gwAU

NFEM hits $46.4bn turnover in four months as naira holds firm

Nigeria's foreign exchange market recorded a total turnover of forty-six point three seven billion dollars within four months of trading data publication under the Nigerian Foreign Exchange Market framework, supported by a stable local currency.

NGX Group, SEC hail S&P Watchlist Inclusion as validation of Nigeria’s market reforms

Capital market regulators, including the Securities and Exchange Commission and NGX Group, have welcomed the S&P Dow Jones Watchlist Inclusion. The regulators describe the inclusion as validation of Nigeria's ongoing market reforms and a reflection of growing global confidence in the domestic financial market.

Dividend season isn't over. 💰

BUA Foods, Cornerstone, E-Tranzact, Aradel, Fidson, Chams, and Mecure Industries will still pay this month 😊

Quality stocks don't just grow in value—they can also pay you while you hold them.

Invest. Hold. Get paid. 📈 #NGX #Dividends #Investing

Gulf banking giant eyes Africa’s largest economy after Nigeria expansion

First Abu Dhabi Bank, the largest lender in the United Arab Emirates, has confirmed plans to expand its footprint in Africa following its market entry and expansion strategies in Nigeria. The move highlights growing foreign interest in the region's financial services industry.

Nigerian equities surpass South Korea to become top-performing market in dollar terms

Nigerian equities have emerged as the world's best-performing stock market in dollar terms, overtaking South Korea. This milestone highlights strong performance in the local stock exchange during the year, positioning Nigeria at the top of global equity market rankings.

Analysts see banks, telecoms leading H2 market gains

Analysts project that major banking, telecommunication, and energy firms, including Zenith Bank, GTCO, United Bank for Africa, MTN Nigeria, and Seplat Energy, will lead gains in the Nigerian stock market during the second half of the year.

🚨 Holding or watching The Initiates Plc (TIP) right now?

Buying more, sitting tight, or still unsure where you stand — before your next move, see what the numbers actually say.

Our independent TIP Fair Value Report breaks down:
📊 Estimated Fair Value
📈 Valuation methodology

📊 NGX All-Share Index: 242,811.94 (+0.15%)
💰 Market Capitalisation: ₦155.81 trillion (+₦225.86 billion)
🟢 Market Breadth: 24 Gainers | 22 Losers | 3 Unchanged (around 1:00 PM WAT)

After that sharp June pullback on the NGX, some quality names are looking really attractive again for a hold till year end.
The H1 earnings season is kicking off properly this month and a lot of these big companies are coming off strong Q1 numbers. Here’s what I’m focused on

Local Market Strength: Meanwhile, the Nigerian Exchange (NGX) is flying high on the back of robust corporate earnings, rising domestic participation, and strong investor demand across heavyweight banking, industrial, and energy sectors.