CAPITALDIGEST DAILY NEWS, 19/05/2025

NIGERIA’S NEW CRUDE BLEND, OBODO, ENTERS MARKET

The Nigerian Upstream Petroleum Regulatory Commission says the first cargo of the new Obodo crude blend has been shipped. In a statement by the NUPRC Chief Executive, Gbenga Komolafe, on Tuesday, he congratulated Conoil Producing Limited on the successful shipment of the first cargo of the Obodo crude blend. Komolafe said this development marks a significant milestone for Nigeria’s upstream sector, demonstrating the growing capacity of indigenous operators to contribute meaningfully to national crude oil production and exports. “The introduction of the Obodo crude blend further diversifies Nigeria’s export portfolio and aligns with the commission’s strategic objectives to enhance production output, maximise hydrocarbon resources, and attract investment through operational efficiency and innovation,” he said. Komolafe maintained that this achievement by Conoil, under the production sharing contract framework with the Nigerian National Petroleum Company Limited, also reflects the positive outcomes of collaborative regulatory support, enabling indigenous players to thrive.

EQUITY MARKET REBOUNDS WITH N315BN GAIN

The Nigerian Stock Exchange witnessed a significant rebound at the close of Tuesday’s trading session, with a remarkable N315bn gain in market capitalisation. The market closed at N68.4tn, driven largely by key players such as Oando, Chellarams, and Transcorp, all of which posted impressive gains. Oando led the charge among the top gainers, with a 10 per cent increase in its share price, closing at N49.50 per share. Chellarams followed closely with a 10 per cent rise, while Transcorp Nigeria saw a 9.99 per cent increase in its stock price, closing at N46.25 per share. Beta Glass Company rounded out the top gainers with a 9.96 per cent increase in share price, closing at N194.30. On the losing side, Haldane McCall saw the biggest drop, shedding 9.85 per cent, ending at N4.21 per share. Academy Press lost 7.33 per cent, followed by UPDC with a 6.25 per cent drop and Associated Bus Company, which saw a 6.13 per cent decrease. A total of 498,480,437 shares were traded in 14,916 deals, with a market value of N10,781,943,704.62. Compared to the previous trading session, Tuesday’s volume saw a 20 per cent increase, although the number of deals declined by 10 per cent.

FG LISTS N4.3BN SAVINGS BONDS ON NGX

The Federal Government has listed its April 2025 Savings Bonds valued at N4.3bn on the Nigerian Exchange Limited. The listing, which took place on Tuesday, was disclosed in a market bulletin issued by the NGX Regulation Limited. According to the NGX, two tranches of the FGN Savings Bonds were admitted to trading – the two-year 16.046 per cent FGS April 2027 and the three-year 17.046 per cent FGS April 2028. A total of N1.13bn was raised for the 2027 bond, with 1,135,475 units issued, while the longer-tenored 2028 bond saw a total subscription of N3.2bn, amounting to 3,203,072 units. The Exchange noted that coupon payments for both bonds will be made quarterly every 16th of July, October, January, and April, with maturity dates set for April 16, 2027, and April 16, 2028, respectively.The bonds, which are part of the government’s effort to encourage domestic savings and deepen the retail bond market, carry the symbol codes FGS202787 and FGS202888.

NGX INVESTORS GAIN N186BN ON BULLISH TRADING

The Nigerian Exchange Limited recorded a bullish trading session on Wednesday, as investors gained N186bn in market capitalisation, driven by buying interest in major consumer goods, banking, and oil and gas stocks. At the session’s close, the All-Share Index rose by 296.72 points or 0.27 per cent to settle at 109,059.33 points. This brought the total market capitalisation to N68.6tn, up from N68.4tn recorded in the previous session. The year-to-date return also improved to 5.96 per cent. A total of 531.3m shares valued at N19.81bn were exchanged in 14,870 deals, reflecting a 7 per cent increase in volume and an 84 per cent surge in turnover compared to the previous day’s session. In terms of market breadth, 128 equities participated in trading, with 34 gainers and 24 losers recorded. Northern Nigeria Flour Mills topped the gainers’ chart with a 10 per cent increase, closing at N99.55 per share. It was followed by McNichols, which also gained 10 per cent to close at N1.76, Champion Breweries with a 9.91 per cent gain to N6.10, and Caverton Offshore Support Group, which rose by 9.78 per cent to N4.04.

SEC JOINS IOSCO-ISSB NETWORK

The Securities and Exchange Commission of Nigeria has announced its entry into the Growth and Emerging Markets Committee Network on sustainability, a move aimed at aligning the Nigerian capital market with global sustainability standards. This development was made public on the sidelines of the International Organisation of Securities Commissions Annual Meeting held in Doha, Qatar. The GEMC Network, established by IOSCO, is designed to support the adoption and implementation of the International Sustainability Standards Board Standards, particularly across growth and emerging markets. It offers member countries access to capacity-building tools, supervisory and enforcement frameworks, and educational materials to help integrate sustainability reporting effectively. Director-General of the SEC, Emomotimi Agama, described Nigeria’s membership in the GEMC as a significant milestone for the country’s capital market reforms.