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Equities Investors Lose N202bn as Dangote Cement Undergoes Reversal
Equities investors lost about N202 billion as Dangote Cement flipped, losing 10% of its market value on the Nigerian Exchange (NGX) trading platform on Friday.
The pause to bullish trend moderated year to date return while key market performance indicators dropped by 0.30% apiece, according to data from the local bourse.
Despite a largely positive market breadth, the downturn was triggered by sell-offs in heavyweight stocks such as Dangote Cement, the most capitalised company, and 13 others, stockbrokers said in separate report.
The All-Share Index reduced by 321.21 basis points to close at 105,753.05 as bears overran the exchange. Market activities were up though, as the total volume and total value of trades conducted in the local exchange increased by 30.41% and 94.54%.
In its note, Atlass Portfolios Limited told investors that approximately 428.08 million units valued at ₦20,174.97 million were transacted across 14,284 deals.
In terms of volume, GTCO led the activity chart, accounting for 14.40% of the total volume of all trades consummated, followed by FIDELITYBK (9.82%), ACCESSCORP (9.62%), MTNN (7.82%), and ZENITHBANK (5.44%), rounding out the top five.
MTNN emerged as the most traded stock in value terms, accounting for 40.98% of the total value of transactions on the exchange on Friday. IKEJAHOTE, INTBREW and LEGENDINT topped the advancers’ chart with a price appreciation of 10.00 percent each.
Other gainers include VITAFOAM (+9.93%), CADBURY (+9.92%), ETERNA (+9.92%), NASCON (+9.74%), ETI (+9.40%), and thirty-three others.
On Friday, fourteen stocks depreciated, according to details obtained from the domestic bourse. DANGCEM was the top loser, with a price depreciation of -10.00%.
Other decliners include REGALINS (-8.06%), VFDGROUP (-7.57%), CUSTODIAN (-4.97%), DANGSUGAR (-2.03%), and ACCESSCORP (-0.42%). Further review of trading activities showed that the market breadth closed positive, recording 41 gainers and 14 losers.
The sectoral performance was positive, as four of the five major market sectors surged, led by the consumer goods sector, which advanced by 2.21%.
The banking sector rose by 1.55%, and the insurance sector surged by 1.50%, while the oil & gas sector popped higher by 0.07%. The industrial sector recorded a loss of 4.73%. Overall, the equities market capitalisation dropped by ₦201.88 billion to close at ₦66.47 trillion.
The Nigerian Air Force, NAF, has taken delivery of five new helicopters as the Federal Government steps up efforts to modernise the country’s airpower capabilities and strengthen military operations against security threats.
The platforms comprise three AW-109 Trekker B helicopters manufactured by Leonardo Helicopters of Italy and two H-125 helicopters manufactured by Airbus Helicopters.
In a statement issued on Tuesday by Air Commodore Ehimen Ejodame, Director of Public Relations and Information, Nigerian Air Force Headquarters, the NAF said the three AW-109s, which are part of 10 recently acquired by the Federal Government, were received in Lagos on September 15, 2026, while the remaining seven are expected to be delivered before the end of the year. The two H-125 helicopters had been delivered earlier.
The Chief of the Air Staff, Air Marshal Sunday Kelvin Aneke, said the new helicopters would increase aircraft availability and improve the NAF’s ability to support ongoing military operations.
“The arrival of these five helicopters provides greater flexibility in the employment of airpower in support of ground troops in ongoing operations,” Aneke said.
He said the AW-109 Trekker B helicopters would enhance the NAF’s capabilities in intelligence, surveillance and reconnaissance, close air support, armed escort, combat search and rescue, and other joint operations.
Aneke added that the H-125 helicopters would provide light helicopter support for various operational requirements.
The new platforms are undergoing post-delivery assembly and technical and crew-readiness processes ahead of their induction and operationalisation.
Aneke said the increased rotary-wing capacity would strengthen support for joint forces conducting operations against terrorism, kidnapping and banditry.
He said the NAF would also prioritise maintenance and logistics support to ensure the new aircraft remain available for operations.
The Oba of Lagos, Rilwan Akiolu, has endorsed President Bola Ahmed Tinubu’s bid for a second term in office, declaring that there will be “no vacancy” in the Presidential Villa, Abuja for the next four or five years.
Oba Akiolu gave the support when the Director-General of the All Progressives Congress (APC) Presidential Campaign Council, Senator Abdulaziz Yari, led members of the council on a courtesy visit to his palace in Lagos on Monday.
The monarch urged politicians to approach the 2027 General Elections with responsibility and ensure that the electoral process is peaceful and serves the interests of Nigerians.
Oba Akiolu cautioned members of the campaign council against actions capable of undermining the peace and stability of the country, even as he urged them to uphold honesty and shun the Machiavellian principle that the end justifies the means.
Speaking, the Director-General of the Campaign Council, Yari, said the delegation was in Lagos to seek the monarch’s blessings, prayers and counsel as the council begins its nationwide campaign activities ahead of the 2027 polls.
Yari said the APC believed President Tinubu deserved a second term to consolidate his administration’s efforts in the areas of the economy, security and infrastructure.
The Campaign D-G, while acknowledging the economic difficulties facing Nigerians, appealed for continued support for the president, saying APC leaders from the North would work to secure strong backing for Tinubu’s re-election across the region.
Receiving the delegation, Lagos State Governor, Mr. Babajide Sanwo-Olu, described the visit as significant, noting that the council had made the Oba’s palace one of its early stops following its engagement with the Sokoto Caliphate.
Governor Sanwo-Olu said the visit underscored Lagos’ strategic importance to Nigeria’s political process, describing the state as the country’s commercial and economic nerve centre as well as a major political hub.
The visit was attended by Lagos APC leaders, local government chairmen, members of the National Assembly, state lawmakers and other party stakeholders.
Former Chairman of the Federal Inland Revenue Service (FIRS) Alhaji Mohammed Mani, has been endorsed as the governorship candidate of the Peoples Democratic Party PDP in Niger state
Alhaji Mani replaces Abubakar Sulaiman, who was elected at the PDP primary last May.
Sulaiman voluntarily withdrawn from the position in the interest of the peace unity and progress of the party.
The endorsement of the former FIRS boss for the governorship contest was made by PDP stakeholders from across the state at the state party secretariat.
Addressing the stakeholders, Alhaji Mani promised to deliver the state to the PDP in next year’s election and solicited the support of party faithful for the realisation of the objective.
The new PDP candidate had earlier contested for the governorship ticket of the All Progressives Congress(APC) which Governor Mohammed Umaru Bago got by “ consensus.”
He was among the APC aspirants who lost in the primary election and recently defected to the PDP.
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