Connect with us

Nigeria News (Standard)

Lagos Investors Gain ₦1.4trn as NGX Market Capitalisation Surges Past ₦156trn Mark

Renewed buying in banking, insurance, and oil and gas stocks drives equities rally; market posts 57.3% year-to-date return

Published

1 hour ago

on

Renewed buying in banking, insurance, and oil and gas stocks drives equities rally; market posts 57.3% year-to-date return

Investors on the Nigerian Exchange (NGX) in Lagos recorded a substantial gain of about ₦1.38 trillion last week, as market capitalisation climbed from ₦155.59 trillion to ₦156.97 trillion by Friday’s close. The surge came amid fresh buying interest in banking, insurance, and oil and gas stocks, according to data released by the NGX on 15 June 2026.

The benchmark NGX All-Share Index (ASI) advanced by 0.88 percent week-on-week to settle at 244,738.74 points, pushing the equities market’s year-to-date return to 57.27 percent. This sustained rally reflected ongoing investor confidence in the face of intermittent profit-taking seen during the week.

Market sentiment remained broadly positive as advancing stocks outnumbered decliners: forty-eight companies posted price appreciation compared to forty-three losers, resulting in a market breadth of 1.12 times. Analysts noted that while trading activity was robust across the board, most of the buying was concentrated in stocks with strong growth prospects within key sectors.

The positive performance highlights renewed appetite for Nigerian equities despite broader economic headwinds and a volatile naira exchange rate environment. Sector players attribute the rally partly to better-than-expected corporate earnings from top-tier banks and oil companies, alongside a general shift from fixed income instruments due to prevailing inflationary pressures.

As at press time, stakeholders expect the bullish trend to continue if macroeconomic indicators remain supportive and company fundamentals stay strong. However, analysts caution that profit-taking could increase volatility in coming weeks as investors lock in gains from recent rallies.

Source: https://guardian.ng/business-services/investors-gain-n1-4-trillion-as-capitalisation-crosses-n156-trillion/

Related Topics:
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Nigeria News (Standard)

Ivory Coast Defeats Ecuador 1–0 in Philadelphia, Secures Africa’s First 2026 World Cup Win

Amad Diallo’s late strike ends Ivorians’ 12-year World Cup win drought as Morocco and South Africa stumble

Published

20 minutes ago

on

June 15, 2026

By

Amad Diallo’s late strike ends Ivorians’ 12-year World Cup win drought as Morocco and South Africa stumble

Ivory Coast recorded Africa’s first victory at the ongoing 2026 FIFA World Cup by defeating Ecuador 1–0 on Sunday night at Philadelphia’s stadium in the United States. Manchester United winger Amad Diallo sealed the win for the Elephants with a decisive goal in the 90th minute, breaking a tense deadlock and delivering a much-needed boost for African football at the global tournament.

The Group E encounter saw both sides locked in a tactical battle for most of the match, with Ecuador boasting defensive resilience that had carried them through South American qualifiers. The Ivorian side, coached to stay disciplined throughout, made a crucial substitution just before the hour mark, introducing Diallo for Bazoumana Toure. As the match edged towards stoppage time and a goalless draw seemed likely, Diallo latched onto a right-wing cross and finished clinically past Ecuador’s goalkeeper to spark wild celebrations among Ivorian supporters.

This result is significant for Ivory Coast, marking their first FIFA World Cup victory since beating Japan in Brazil twelve years ago. It also stands out as Africa’s initial triumph at this year’s expanded tournament after South Africa lost 2–0 to co-hosts Mexico and Morocco were held to a 1–1 draw by Brazil earlier in the weekend. With this win, Ivory Coast now has renewed confidence as they seek to progress beyond the group stage for the first time in their history.

Ecuador entered the match with strong backing from most of the 68,274 fans packed into Philadelphia’s stadium, many clad in yellow and cheering on their team. Despite enjoying majority crowd support and controlling possession for stretches of the game, Ecuador struggled to break down Ivory Coast’s defence and will be disappointed with their start to the competition.

The Elephants will now look ahead to their next group fixture with hopes high among African football enthusiasts. Meanwhile, Ecuador will need to regroup quickly if they are to keep their qualification hopes alive. Both teams’ next matches will be closely watched as Group E continues to unfold.

Source: https://guardian.ng/sport/football/ivory-coast-secure-africas-first-win-at-2026-world-cup/

Continue Reading

Nigeria News (Standard)

Toxic Gas Leaks Endanger Residents’ Health and Livelihoods in Rivers State Community

Affected villagers report persistent health issues as environmental authorities face calls for urgent intervention in oil-rich area

Published

1 hour ago

on

June 15, 2026

By

Affected villagers report persistent health issues as environmental authorities face calls for urgent intervention in oil-rich area

Residents of a Rivers State community are grappling with toxic gas leaks that have threatened their health and livelihoods, according to an investigation published on Monday. The incident, which has persisted for weeks, has left many villagers reporting respiratory problems and disruptions to farming and fishing activities central to their survival.

The gas emissions were first noticed by community members, who said the strong odour and visible fumes began spreading across farmlands and waterways. Local farmers and fishermen revealed that crops are failing and fish stocks dwindling due to contamination, compounding economic hardship already prevalent in the region. Several households have reported increased cases of coughing, breathing difficulties, and skin irritations among adults and children alike.

This crisis highlights the ongoing environmental challenges facing oil-producing communities in the Niger Delta, where incidents of pollution frequently impact public health and economic activities. Rivers State is one of Nigeria’s major oil-producing areas in the South-South geopolitical zone, with communities often exposed to hazards linked to oil exploration and pipeline operations.

Environmental officials have been notified of the situation, with some promising to investigate the source of the leaks. Community leaders are urging both state authorities and federal agencies responsible for environmental protection to take immediate action. “We cannot continue to live like this,” one local leader said during a meeting with residents. However, as at press time, no formal response from regulatory agencies had been issued.

Affected families are calling for medical support and compensation for losses suffered. As investigations continue, environmental activists say the incident underscores the need for stricter monitoring of oil installations in Rivers State. Stakeholders warn that failure to address these recurring problems could further erode trust between host communities and operators in Nigeria’s vital oil sector.

Source: https://www.premiumtimesng.com/news/headlines/887605-investigation-toxic-gas-leaks-threaten-lives-livelihoods-in-rivers-community.html

Continue Reading

Nigeria News (Standard)

Adamawa Police Arrest Two Suspected Armed Robbers After Attack in Mubi LGA

Command says suspects were on wanted list since 2025; two accomplices still at large after June 10 incident

Published

1 hour ago

on

June 15, 2026

By

Command says suspects were on wanted list since 2025; two accomplices still at large after June 10 incident

The Adamawa State Police Command has apprehended two suspected armed robbers in the Mubi area following a coordinated operation on June 10, 2026. The suspects, identified as Abdulhamid Salihu (also known as Baban Anty) and Bello Yahaya (also known as Baban Yambiyu), were arrested by officers attached to Operation Sanity after a robbery incident at Unguwar Kara in Mubi Local Government Area.

According to the Police Public Relations Officer, SP Suleiman Nguroje, the suspects had been on the police wanted list since 2025 for their alleged involvement in multiple criminal activities within the state. Nguroje explained in a written statement that the arrest followed intelligence-led operations involving personnel from both Mubi North and South councils.

The police stated that Salihu and Yahaya, along with two accomplices who are currently at large, allegedly attacked one Mustapha Ali during the incident. The victim was reportedly injured and dispossessed of cash and other valuables during the attack. The Command assured that efforts are ongoing to apprehend the remaining suspects still on the run.

SP Nguroje reiterated the commitment of Adamawa Police Command to ensure security across all communities in the state. He urged members of the public to continue providing timely information that could assist law enforcement agencies in curbing criminal activities. As at press time, police investigations are ongoing, while the suspects remain in custody pending further action.

The arrest comes amid increased concerns over rising cases of armed robbery and violent crimes in Adamawa State’s northern senatorial zone. Stakeholders have called for sustained patrols and intelligence gathering to deter future attacks and restore public confidence.

Source: https://guardian.ng/news/nigeria/metro/police-nab-two-suspected-armed-robbers-in-adamawa/

Continue Reading