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Nigerian Equities Extend Losing Streak as Investors Lose ₦1.3 Trillion

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Nigerian Equities Extend Losing Streak as Investors Lose ₦1.3 Trillion
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By Derick Peretengboro

The Nigerian stock market began the week on a weak note, with sustained selling pressure wiping about ₦1.315 trillion from investors’ holdings as bearish sentiment persisted across the Nigerian Exchange (NGX).

At the close of trading on Monday, the NGX All-Share Index declined by 2,049.65 points, or 0.84 percent, to settle at 241,749.11 points. The downturn also pushed total market capitalisation lower to ₦155.13 trillion.

Market performance reflected widespread profit-taking, as declining stocks significantly outnumbered advancing ones. A total of 44 equities recorded losses, while only 19 posted gains during the trading session.

Among the biggest losers, PZ Cussons Nigeria fell by 10 percent to close at ₦81.00 per share. BUA Cement also dropped by 9.99 percent to ₦306.20, while Red Star Express shed 9.98 percent to finish at ₦22.10. Other notable decliners included NASCON Allied Industries, Cadbury Nigeria and FBN Holdings, all of which added to the market’s negative performance.

Despite the overall bearish trend, a handful of companies ended the day in positive territory. International Breweries led the gainers with a 9.77 percent appreciation to ₦14.60 per share. Nigerian Aviation Handling Company advanced by 8.36 percent, while UACN gained 8.11 percent.

Trading activity yh remained strong even as prices weakened. Investors exchanged 523.54 million shares valued at ₦22.27 billion across 59,945 deals, representing an increase in transaction volume compared with the previous trading session.

FCMB Group emerged as the most actively traded stock by volume after more than 102 million shares worth over ₦1 billion changed hands. International Breweries and Access Holdings also featured among the most traded equities.

By value, Stanbic IBTC Holdings recorded the highest turnover, with transactions worth approximately ₦2.87 billion, underscoring continued investor activity despite the market’s extended decline.


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Warri Group Withdraws Support for Ereyitomi, Backs Mulade for 2027 Reps Election

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Warri Group Withdraws Support for Ereyitomi, Backs Mulade for 2027 Reps Election
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By staff Reporter Rukevwe Odeh

 

A group of stakeholders in Warri has announced its decision to withdraw support for the incumbent member representing the Warri Federal Constituency in the House of Representatives, Hon. Thomas Ereyitomi, ahead of the 2027 general elections.

 

The group, while explaining its position, cited what it described as dissatisfaction with the lawmaker’s performance and representation of the constituency.

 

The stakeholders subsequently declared their support for Comrade Jude Ukori Mulade as their preferred candidate for the 2027 House of Representatives election.

 

According to the group, its decision followed concerns over the level of representation and development delivered to the constituency under the current administration.

 

The stakeholders said they were seeking a representative who would be more responsive to the needs of the people and more committed to advancing issues affecting residents across the constituency.

 

They urged other political stakeholders and eligible voters in Warri to consider Mulade’s candidacy as the 2027 elections approach.

 

The group’s endorsement adds to the growing political activities and realignments expected to shape the contest for the Warri Federal Constituency seat ahead of the 2027 general elections.

 

Ereyitomi, who currently represents the constituency in the House of Representatives, has yet to publicly respond to the allegations contained in the group’s statement.


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DELTA: Persistent Flooding Raises Concerns Over Warri Airport Road

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DELTA: Persistent Flooding Raises Concerns Over Warri Airport Road
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By staff Reporter Rukevwe Odeh

 

Residents and road users along the Warri Airport Road, particularly the section near Federal Government College in Warri South Local Government Area of Delta State, have continued to contend with recurring flooding despite years of road construction and rehabilitation efforts.

 

The affected stretch is frequently submerged following heavy rainfall, with inadequate drainage identified as a major factor contributing to the persistent flooding.

 

The recurring situation has raised concerns among motorists, residents and other road users, who say the condition of the road continues to disrupt movement and create difficulties for commuters whenever there is significant rainfall.

 

The development has also renewed calls for attention to the drainage system along the route, with residents hoping that a lasting solution will be implemented to prevent the road from repeatedly becoming flooded.


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Heavy Rainfall Floods Ekpan Link Road in Delta

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Heavy Rainfall Floods Ekpan Link Road in Delta
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By staff Reporter: Rukevwe Odeh

 

A heavy downpour has left the popular NNPC Housing Complex Road, also known as Ekpan Link Road, submerged in floodwater in Uvwie Local Government Area of Delta State.

 

The rainfall caused significant water accumulation along the busy road, affecting movement and creating difficulties for motorists and other road users.

 

The condition of the road has renewed concerns over flooding and drainage challenges in the area, particularly during periods of heavy rainfall.

 

Residents and commuters are expected to exercise caution while using the affected route as efforts to manage the situation continue.


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