馃嚦馃嚞NigeriaWest Africa
Strong earnings lift equities market by N392bn
via Punch Nigeria2 min read
The Nigerian equities market closed positively on Friday, with investors gaining N392 billion. This rally was driven by improved corporate earnings for the 2025 financial year released by companies on the Nigerian Exchange Ltd. platform, alongside gains in stocks like Trans-Nationwide Express, International Breweries, CHAMS, Guinness, and 20 other advancing equities. Market capitalisation rose by 0.30 per cent to N131.165 trillion, and the All-Share Index increased by 0.30 per cent to 203,770.43. The Year-to-Date return reached 30.95 per cent. Despite the positive performance, market breadth closed negatively with 34 losers and 24 gainers. Omatek Ventures led losers with a 10 per cent decline. FG202033S6 led gainers, appreciating by 36.30 per cent. Trading activity declined, with total volume traded dropping by 15.97 per cent to 548.60 million shares valued at N31.46 billion. Access Corporation topped the activity chart, recording 52.7 million shares worth N1.37 billion. Aradel Holdings posted the highest value of trades at N6.49 billion.
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Nigeria's National Security Adviser, Nuhu Ribadu, met with the newly confirmed United States Assistant Secretary of State for African Affairs, Frank Garcia, in Abuja. This meeting aimed to strengthen security cooperation between the two nations. Garcia's visit to Nigeria is his first since assuming office on June 1, 2026, and is part of a West African tour that includes C么te d'Ivoire and Mali. Ribadu stated on X that the discussion reviewed progress by the Nigeria-US Joint Working Group and reaffirmed their commitment to dialogue and cooperation on shared security priorities. Garcia, a 28-year US Navy veteran, previously served as a senior adviser to the chairman of the House Permanent Select Committee on Intelligence. His appointment filled a vacancy in the Africa post that had lasted over a year.
The president of the Senegalese football federation, Abdoulaye Fall, stated on Monday that coach Pape Thiaw's salary demands created a toxic environment for the team at the World Cup. Thiaw, 45, was sacked on Sunday after Senegal's elimination in the last 32 by Belgium on July 1. Fall explained that a breakdown in trust occurred due to Thiaw's initial refusal to sign a new contract, as he had requested a salary increase from 20 million CFA to 30,000 CFA before the World Cup. Fall also mentioned that Thiaw threatened not to travel to the World Cup if his demands were not met, and it was Senegalese President Bassirou Diomaye Faye who convinced him to change his mind. The contract was eventually signed on the eve of their second game against Norway, after Thiaw reportedly refused to sit in the dugout until it was finalized. Fall indicated that Thiaw believed federation officials were his enemies, which affected the national team's operations. During the World Cup, the Lions of Teranga experienced two group stage defeats against France and Norway before a 5-0 victory over Iraq secured their place in the knockout rounds. Under Thiaw, Senegal had won the Africa Cup of Nations in January but were later stripped of the title for walking off the pitch during the final against Morocco.
Built environment professionals are urging a thorough technical audit of the new Gombe State House of Assembly Complex construction site after a section of its cantilevered entrance canopy collapsed, resulting in one fatality and seven injuries. Experts from engineering and architecture, including Engr. Suleiman Abba of the Nigerian Society of Engineers and Engr. Musa Achindo of the Council for the Regulation of Engineering in Nigeria, emphasized the need for an independent assessment to determine the cause and strengthen safety standards. Arc. Mustapha Adamu of the Nigerian Institute of Architects advocated for a multidisciplinary investigation. The Gombe State Government has initiated an immediate investigation, confirming eight workers were involved, with one death and seven injuries. Governor Muhammadu Yahaya expressed condolences and directed that all injured workers receive medical care at the government's expense. The Ministry of Works, Housing and Transportation, along with other agencies, has been instructed to commence safety and accountability procedures. The contractor and supervising consultant are required to submit an incident report within 24 hours, followed by preliminary and comprehensive technical reports. The government assured the public that the investigation's findings would guide future actions and reaffirmed its commitment to enforcing safety and quality standards in public infrastructure projects.