Naija247 Gadgets

05/08/2026

Industrial Stocks Surge 7.26% as Dangote Cement Leads Broad Manufacturing Rally

Lagos, May 8, 2026 (Naija247news) — Nigerian industrial stocks staged the strongest sector performance of the trading session on Friday as the NGX Industrial Index surged 7.26%, driven by aggressive accumulation in heavyweight manufacturing and cement counters, led by Dangote Cement Plc. The rally reflected renewed institutional conviction in Nigeria’s industrial base amid expectations of sustained infrastructure demand, relative pricing power, and stronger earnings visibility among large-cap manufacturers....

05/08/2026

Corporate Bond Yields Reprice as Investors Demand Higher Returns

Lagos, May 8, 2026 (Naija247news) — Nigeria’s corporate debt market continued to witness broad yield repricing across major issuers on Friday as investors demanded elevated returns amid persistently high interest rates, inflation concerns, and cautious credit positioning. Market data showed yields across multiple corporate bonds issued by major Nigerian companies remained elevated, reflecting tighter monetary conditions and shifting investor expectations within the fixed-income market....

Lagos, May 8, 2026 (Naija247news) — Nigeria’s corporate debt market continued to witness broad yield repricing across major issuers on Friday as investors

05/08/2026

Bond Yields Rise as Investors Turn Cautious on Nigerian Sovereign Debt

Lagos, May 8, 2026 (Naija247news) — Nigeria’s sovereign debt market closed weaker on Friday as investors demanded higher yields across government securities amid persistent inflation concerns, elevated interest rates, and cautious positioning ahead of future monetary policy signals. Average yields on Federal Government of Nigeria bonds edged higher by one basis point to 16.10%, reflecting subdued appetite for long-duration naira assets despite recent improvements in broader market sentiment....

Lagos, May 8, 2026 (Naija247news) — Nigeria’s sovereign debt market closed weaker on Friday as investors demanded higher yields across government

05/08/2026

Naira Weakens Across Official, Parallel Markets as Dollar Demand Intensifies

Lagos, May 8, 2026 (Naija247news) — The naira weakened further across both official and unofficial foreign exchange markets on Friday as renewed demand for dollars and persistent pressure on foreign currency liquidity weighed on the local currency. Data from the Nigerian Autonomous Foreign Exchange Market showed the naira depreciated 0.41% to close at N1,361.40 per dollar compared with N1,355.85 recorded in the previous session....

Lagos, May 8, 2026 (Naija247news) — The naira weakened further across both official and unofficial foreign exchange markets on Friday as renewed demand

05/08/2026

Bulls Regain Control on Customs Street as ASI Surges 2.10%, Adds N3.2 Trillion

Lagos, May 8, 2026 (Naija247news) — Nigerian equities rebounded sharply on Friday as bullish sentiment returned strongly to Customs Street, pushing the Nigerian Exchange All-Share Index to a fresh historic high and adding more than N3.2 trillion in investor wealth in a single trading session. The benchmark NGX All-Share Index climbed 2.10% to close at 244,775.83 points from 239,734.61 points recorded in the previous session, while market capitalization advanced to N157.09 trillion from N153.86 trillion....

05/08/2026

Dangote Sugar Swings to ₦19 Billion Profit as Margin Recovery Fuels Rally

Lagos, May 8, 2026 (Naija247news) — Dangote Sugar Refinery Plc delivered one of the sharpest earnings recoveries on the Nigerian Exchange in the first quarter of 2026, returning to profitability after posting steep losses a year earlier, as lower production costs, stronger operating efficiency, and a major balance sheet cleanup offset declining revenue. The sugar refiner reported profit after tax of ₦19.2 billion for the three months ended March 31, compared with a loss of ₦23.6 billion in the corresponding period of 2025, marking a turnaround of more than 180%....

Lagos, May 8, 2026 (Naija247news) — Dangote Sugar Refinery Plc delivered one of the sharpest earnings recoveries on the Nigerian Exchange in the first

05/08/2026

US–Iran Conflict Threatens $947m Nigeria Drug Import Chain, BMI Says

LAGOS, May 8, 2026 (Naija247news) – The escalating United States–Iran conflict risks disrupting Nigeria’s pharmaceutical supply chain, pushing up drug prices and intensifying pressure on import-dependent healthcare systems, according to a new report by BMI, a unit of Fitch Solutions. The report warns that heightened tensions in the Middle East are already affecting global logistics corridors, particularly around the Strait of Hormuz, a critical passage for international shipping....

LAGOS, May 8, 2026 (Naija247news) – The escalating United States–Iran conflict risks disrupting Nigeria’s pharmaceutical supply chain, pushing up drug

05/08/2026

APC Governors Show Signs of Split Ahead of 2027 Elections

LAGOS, May 8, 2026 (Naija247news) – Signs of political fragmentation have emerged within Nigeria’s ruling All Progressives Congress (APC) as rival alignments develop inside the Progressive Governors Forum (PGF), a key coordination platform for the party’s state-level power base ahead of the 2027 election cycle. Imo State Governor Hope Uzodimma, who currently chairs the forum, has maintained that he remains in control of the PGF structure alongside Kaduna State Governor Uba Sani as deputy....

LAGOS, May 8, 2026 (Naija247news) – Signs of political fragmentation have emerged within Nigeria’s ruling All Progressives Congress (APC) as rival

05/08/2026

Renaissance Africa Energy Targets 500,000 bpd Output by 2030

PORT HARCOURT, May 8, 2026 (Naija247news) – Renaissance Africa Energy Company, operator of the NNPC/Renaissance/TotalEnergies/AENR joint venture, says it is targeting crude oil production of 500,000 barrels per day by 2030 as part of a broader push to restore output growth and expand domestic gas utilisation. The company said the production target is anchored on value creation across the economy, including energy security, industrial development, and sustainability outcomes....

PORT HARCOURT, May 8, 2026 (Naija247news) – Renaissance Africa Energy Company, operator of the NNPC/Renaissance/TotalEnergies/AENR joint venture, says it

05/08/2026

Nigeria SEC Calls for Proactive Regulation as Market Hits ₦130 Trillion

LAGOS, May 8, 2026 (Naija247news) – The Director-General of the Securities and Exchange Commission (SEC), Emomotimi Agama, has called for a more proactive regulatory framework, arguing that capital market oversight must anticipate disruption rather than respond to it. Speaking at the FSDH Investors’ Conference in Lagos themed “Co-creating the Future of Intelligent Investing,” Agama said regulatory clarity, institutional trust, and policy consistency remain critical to attracting sustainable capital inflows into Nigeria’s financial markets....

LAGOS, May 8, 2026 (Naija247news) – The Director-General of the Securities and Exchange Commission (SEC), Emomotimi Agama, has called for a more proactive