Business
NGX closes week lower as investors lose N129bn
The NGX All-Share Index fell by 0.14 per cent to 143,520.53, while market capitalisation closed at N91.286.p trillion for the week.
This compared with 143,722.62 points and N91.415 trillion recorded in the previous week, reflecting weaker sentiment across the market.
The News Agency of (Nigeria) investors “lost about N129 billion this week as profit-taking continued across major counters”.
Most indices closed lower, except NGX CG, NGX Premium, NGX Banking, NGX Pension, NGX AFR Div. Yield, NGX AFR Bank Value, NGX MERI Growth, NGX MERI Value, NGX Lotus II, NGX Growth and NGX Sovereign Bond.
These indices appreciated between 0.01 per cent and 0.94 per cent, showing selective interest in defensive stocks.
Turnover rose to 4.140 billion shares worth N115.889 billion in 102,351 deals, higher than 2.668 billion shares valued at N106.264 billion last week.
The Financial Services Industry led activity with 3.358 billion shares worth N81.175 billion in 43,392 deals.
This represented 81.10 per cent of total volume and 70.05 per cent of total value traded during the week.
The Services Industry followed with 148.272 million shares worth N1.319 billion exchanged in 7,181 deals.
The Consumer Goods sector placed third with 143.638 million shares worth N7.988 billion in 12,099 trades.
Cornerstone Insurance, GTCO and Access Holdings accounted for 2.005 billion shares worth N47.535 billion in 10,185 deals.
These three stocks contributed 48.43 per cent of total turnover volume and 41.02 per cent of total value.
Thirty-eight equities gained during the week, up from 20 recorded previously, while 36 declined, compared with 60 in the prior week.
Seventy-three equities remained unchanged, higher than 67 posted in the previous trading week.
Ikeja Hotel, NCR Nigeria, UACN, CWG and Veritas Kapital emerged top gainers, advancing by N9.40, N13.55, N8.90, N1.90 and 18k respectively.
Meyer, Sunu Assurances, UPDC, Tantalizer and Abbey Mortgage Bank topped the losers’ chart, shedding N3.05, 68k, 68k, 26k and 65k respectively.
The NGX disclosed the listing of 243,424 additional units of the Chapel Hill Denham Nigeria Infrastructure Debt Fund.
It said, “The additional units arose from the Fund’s 2025 Q3 scrip dividend distribution to qualifying holders.”
The NGX added that the Fund’s total units have increased to 1,056,257,953 following the fresh listing.
The Exchange also confirmed the extension of VFD Group’s Rights Issue following SEC approval.
It said trading in the company’s rights “will now close on Friday, Dec. 26.
The post NGX closes week lower as investors lose N129bn appeared first on Vanguard News.
Ásake’s much-anticipated homecoming concert may be heading into stormy waters as fans take to social media to criticise the staggering ₦300,000 ticket fee.
What was expected to be a triumphant Lagos return for the global Afrobeats star is now spiralling into an online revolt, with many longtime supporters accusing organisers of “pricing out the true fans.”
The sentiment has grown so intense that several fan pages are warning that the high-end pricing could dampen excitement around Ásake’s headline performance.
FlyTime Fest, known for premium concert experiences, has steadily increased its fees over the years, but this latest jump appears to have crossed a psychological line.
Fans have flooded social media with criticism over the ₦300,000 ticket price for Ásake’s Lagos homecoming. Many expressed disbelief and frustration, saying the cost is outrageous and out of reach for those who have supported him since his early street-pop days.
Users questioned the pricing compared to international shows, with some noting that fans abroad can secure seats for less than half the cost.
Social media reactions have been fierce, @Yemmmmie_: “So Nigerians are paying $200 just to stand and watch Asake, while people abroad get seats for under $100? Make it make sense. How do you overcharge the people who actually built the fanbase? It’s giving ‘exploit your own’ and everyone’s just supposed to smile about it?”
@_ayzo: “I really wanted to go for Asake’s show but 300k is too ridiculous.”
@_blondehoe: “Asake ticket prices are ridiculous. Not even Chris Brown, Summer Walker and Travis Scott were this expensive. I might need a Nigerian bf to buy me a ticket soon.”
@richtosho: “Asake concert standing ticket is 300k, Rema 250k, Davido 250k, in a country of particular concern… but they will sell tickets in US for less than $100 ~150k and you might even see Chris Brown and Billie Eilish + 10 other artists… imagine?”
The post Asake’s Lagos concert faces backlash as ₦300k ticket price sparks fan outrage appeared first on Vanguard News.
MTV kick-started a new era of music and pop culture in 1981, when it went on air for the first time, emblematically playing “Video Killed the Radio Star” as its debut music video. More than four decades later, the channel,
The post MTV to close international music channels, ending four-decade era appeared first on The Guardian Nigeria News – Nigeria and World News.
Senate President, Godswill Akpabio, has described himself as the highest-ranked Christian in government, attributing his political advancement to “the special grace of God” and urging Nigerians to remain committed to service in their faith communities. Speaking on Saturday during the
The post If God raised me from nobody to Senate president, He can do it for us all – Akpabio appeared first on The Guardian Nigeria News – Nigeria and World News.
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