Economy
Oando Gains 60.47% in One Week as Demand Spikes

By Dipo Olowookere
The share price of Oando Plc witnessed a 60.47 per cent week-on-week rise at the Nigerian Exchange (NGX) Limited last week amid rising appetite for the company’s securities by investors.
Oando, which was selling at about N5 some months ago due to the issues it had with the capital market regulator, the Securities and Exchange Commission (SEC), gained 60.47 per cent last week to close at N40.60 compared with the previous week’s N25.30.
The company, which some investors avoided like a plague in the past, has now become the darling of traders, with demand rising by the day at the stock market because of the recent acquisition of Eni oil assets in Nigeria by Oando.
It topped the gainers’ chart in the week under review, followed by RT Briscoe, which appreciated by 51.19 per cent to N1.27, and Japual, which rose by 35.80 per cent to N2.39. Academy Press increased by 34.58 per cent to N2.88, and United Capital advanced by 31.28 per cent to N15.95.
On the flip side, Champion Breweries lost 15.03 per cent to quote at N2.77, BUA Cement fell by 9.99 per cent to N128.90, University Press declined by 9.92 per cent to N2.18, Union Dicon shed 9.88 per cent to N7.30, and Deap Capital dropped 9.62 per cent to 47 Kobo.
Business Post reports that when trading activities ended for the week last Friday, the bourse recorded 46 price advancers versus 40 in the preceding week, 38 price decliners versus 40 in the previous week, and 67 equities closed flat versus the 71 equities recorded a week earlier.
The renewed confidence of investors propelled the NGX to a week-on-week growth of 0.87 per cent, with the All-Share Index (ASI) closing higher to 98,592.12 points, and the market capitalisation rising to N55.978 trillion.
All other indices finished higher apart from the NGX Main Board and industrial goods indices, which moderated by 0.09 per cent and 3.67 per cent, respectively, while the ASeM and sovereign bond indices closed flat.
In the week, traders traded 2.679 billion shares worth N49.017 billion in 47,451 deals compared with the 3.393 billion shares worth N52.304 billion transacted in 44,814 deals in the preceding week.
Financial stocks dominated the activity chart with 1.982 billion units valued at N31.985 billion in 23,467 deals, contributing 74.00 per cent and 65.25 per cent to the total trading volume and value, respectively.
Energy shares sold 229.680 million units worth N7.441 billion in 4,021 deals, and ICT equities transacted 113.887 million units for N3.059 billion in 4,260 deals.
Access Holdings, Veritas Kapital Assurance, and UBA accounted for 756.035 million shares worth N10.726 billion in 6,985 deals, contributing 28.22 per cent and 21.88 per cent to the total trading volume and value, respectively.
Economy
Oil Prices Jump as Trump Revokes Chevron’s Venezuela Licence

By Adedapo Adesanya
Oil prices rose more than 2 per cent on Thursday amid supply concerns after the US President, Mr Donald Trump, revoked a licence granted to US oil major, Chevron, to operate in Venezuela.
The news led Brent crude oil futures to spike by $1.53 or 2.1 per cent to $74.06 a barrel while the US West Texas Intermediate (WTI) crude oil futures increased by $1.64 or 2.4 per cent to $70.26.
The Chevron licence revocation means the company will no longer be able to export Venezuelan crude.
However, if Venezuelan state oil company, PDVSA, exports oil previously exported by Chevron, US refineries will be unable to buy it because of U.S. sanctions.
President Trump said this was due to the lack of electoral reform in the South American country alongside with insufficient action on migration.
Chevron has been exporting around 240,000 barrels of Venezuelan crude to the US daily after former US President Joe Biden granted them a waiver.
The amount constitutes around 25 per cent of the country’s total oil production and generates substantial revenues that stay in the Venezuelan economy.
Meanwhile, market analysts noted that the move could also lead to the negotiation of a fresh agreement between the Chevron and PDVSA to export crude to destinations other than the US.
This development could also impact the Organisation of the Petroleum Exporting Countries and its allies, OPEC+, to which Venezuela is a member.
Chevron’s exit could reduce Venezuela oil’s production, giving OPEC+ capacity to increase output.
However, investors were still keeping an eye on signs of a potential peace deal in Ukraine, which could result in higher Russian oil flows.
President Trump said Ukrainian President Volodymyr Zelenskiy will visit the US on Friday to sign an agreement on rare earth minerals.
However, the Ukrainian leader said the success of talks would hinge on continued US aid.
The market was pressured by news that US economic growth slowed in the fourth quarter amid cold weather and concerns that tariffs will hurt spending through higher prices.
Economy
NASD Exchange Closes Flat Despite Posting Six Price Movers

By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange closed flat on Wednesday, February 26 with the Unlisted Security Index (NSI) static at 3,268.81 points and the market capitalization unchanged at N1.851 trillion.
The alternative stock exchange closed flat at midweek despite recording six price movers, with two in the green region and four in the red territory.
On the gainers’ side Afriland Properties Plc and FrieslandCampina Wamco Nigeria Plc, with the former rising by N1.12 to N22.80 per unit from the preceding day’s N21.68 per unit and the latter expanding by 76 Kobo to settle at N39.86 per share compared with Tuesday’s closing price of N39.10 per share.
However, First Trust Microfinance Bank Plc lost 5 kobo to close at 47 Kobo per unit compared with the previous day’s 52 Kobo per unit, Geo Fluids dropped 34 Kobo to settle at N3.58 per share versus the preceding session’s N3.24 per share, UBN Property Plc went down by 10 Kobo to finish at N1.75 per unit, in contrast to Tuesday’s closing price of N1.85 per unit, and Central Securities Clearing System (CSCS) Plc declined by 14 Kobo to close at N22.01 per share versus N22.15 per share.
During yesterday’s session, the volume of securities transacted by investors jumped by 99.3 per cent to 1.2 million units from the 605,399 units transacted in the previous trading day.
However, the value of transactions slid by 28.5 per cent to N10.6 million from N14.8 million, while the number of deals went up by 58.3 per cent to 38 deals from 24 deals recorded on Tuesday.
At the close of business, Impresit Bakolori Plc was the most active stock by value (year-to-date) with 533.8 million units worth N520.9 million, followed by Afriland Properties Plc with 16.4 million units valued at 335.2 million, and FrieslandCampina Wamco Nigeria Plc with 8.3 million units valued at N329.2 million.
Industrial and General Insurance (IGI) Plc ended the most active stock by volume on a year-to-date basis with 69.7 million units worth N23.6 million, trailed by Geo-Fluids Plc with 10.9 million units sold for N51.9 million, and FrieslandCampina Wamco Nigeria Plc with 8.3 million units valued at N329.2 million.
Economy
Naira Remains Unchanged at N1,501/$1 at Official FX Market

By Adedapo Adesanya
The Naira closed flat on the US Dollar at the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Wednesday, February 26 at N1,501.95/$1.
Also, the value of the local currency against the Pound Sterling and the Euro remained unchanged in the official market during the session at N1,894.72/£1 and N1,570.11/€1 apiece.
However, the Nigerian currency depreciated against the United States currency by N10 at midweek to quote at N1,500/$1, in contrast to the preceding day’s N1,490/$1.
The outcome of the local currency comes amid ease in the wider economy and recent moves like clearing backlogs, which have led to the country’s foreign reserves losing over $2 billion in the last month.
However, market analysts fear that the continued drop in the foreign reserves may only offer temporary respite to the Naira.
In the cryptocurrency market, most of the tokens fell on Wednesday after the US President, Mr Donald Trump, said he plans to impose a 25 per cent tariff on the European Union (EU) during his first cabinet meeting.
The price of Bitcoin (BTC) depreciated by more than 3 per cent in the last 24 hours to close at $85,878.47.
After the recent market selloff, there were calls that the drop might have been the bottom but Mr Trump’s EU tariff plans seem to have dampened market optimism.
The American President claimed that the 27-member union does not accept US cars and farm products while the US buys from the bloc.
On its part, the EU said it will react firmly and immediately against “unjustified barriers to free and fair trade”
Ethereum (ETH) slumped by 5.9 per cent to $2,341.69, Ripple (XRP) went down by 3.7 per cent to $2.20, Cardano (ADA) fell by 2.9 per cent to trade at $0.6625, Dogecoin (DOGE) depreciated by 1.3 per cent to $0.2076, Binance Coin (BNB) weakened by 1.2 per cent to $614.13, and Solana (SOL) declined by 1.0 per cent to $140.03.
But Litecoin (LTC) recorded a 6.9 per cent appreciation to quote at $126.46, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) closed flat at $1.00 each.
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