Business
NGX Extends Gains as Market Capitalisation Hits N113.5 Trillion
NGX market capitalisation rises to N113.5 trillion as All-Share Index gains 1.65%, supported by sectoral growth and strong investor activity
The Nigerian Exchange (NGX) maintained its bullish momentum yesterday, extending gains from earlier in the week as investor appetite pushed total market capitalisation by N1.84 trillion to close at N113.50 trillion.
Also read: Zichis Agro-Allied to List N1.09bn Shares on NGX
The NGX All-Share Index (ASI) rose 1.65 per cent to 176,809.42 points, reflecting renewed optimism across major sectors.
Month-to-date and year-to-date returns advanced to +6.9 per cent and +13.6 per cent, respectively, signalling broad-based confidence in equities.
Sectoral performance was largely positive.
The NGX Banking Index led gains with a 1.83 per cent rise, while the NGX Oil & Gas and Industrial Goods indices climbed 2.97 per cent and 2.93 per cent, respectively.
Smaller advances were recorded in the Consumer Goods and Insurance sectors, which increased 0.18 per cent and 0.01 per cent.
The NGX Commodity Index also added 1.78 per cent.
Market breadth remained decisively positive at 3.0x, with 66 advancing stocks against 22 decliners.
Top gainers included Deap Capital Management & Trust Plc, eTranzact International Plc, John Holt Plc, and Omatek Ventures Plc, each rising by the maximum daily limit of 10 per cent.
Vitafoam Nigeria Plc followed with a 9.98 per cent increase, reflecting robust buying interest in select mid- and small-cap stocks.
Declines were driven by profit-taking and selective sell-offs.
Abbey Mortgage Bank Plc, Sky Aviation Leasing Company Plc, Guinea Insurance Plc, Consolidated Hallmark Holdings Plc, and Livestock Feeds Plc recorded the steepest losses for the session.
Trading activity presented a mixed picture.
Deals executed fell 10.6 per cent to 58,965, yet total volume surged 68.08 per cent to 1.30 billion shares, and traded value jumped 80.64 per cent to N50.43 billion, signalling heightened activity in key equities and large block trades.
Analysts attributed the rally to speculative interest, bargain hunting, portfolio repositioning, and improving liquidity.
Also read: NGX market cap rises N598bn
They noted that while near-term profit-taking remains a risk, positive macroeconomic expectations and sectoral gains could sustain upward momentum in upcoming sessions.
The Niger Delta Chamber of Commerce, Industry, Trade, Mines and Agriculture (NDCCITMA) has dismissed allegations that it appropriated the Niger Delta Economic & Investment Summit (NDEIS) brand, insisting it lawfully obtained trademark acceptance for the name and will proceed with its 2026 summit as scheduled.
In a statement issued on September 12, 2026, the chamber described claims by Kunle Nwiwa Junior as “cheap blackmail, misleading, mischievous and a misrepresentation of the facts,” maintaining that it independently developed the summit and followed all required regulatory procedures.
According to NDCCITMA, it applied for and received a Trademark Acceptance Letter for the name Niger Delta Economic & Investment Summit (NDEIS) in August 2025 under File No. NG/TM/O/2025/387284.
The chamber said the chronology of events contradicts allegations that it copied another party’s application, arguing that its trademark acceptance predated the period during which Nwiwa’s own application was reportedly still pending before the relevant authorities.
“Economic Summit” is a generic expression
NDCCITMA further argued that the phrase “Economic Summit” is a generic description widely used for conferences that bring together governments, investors, businesses, development institutions and other stakeholders to discuss investment and economic development.
The chamber maintained that while concepts may be widely used, legal protection only arises from recognised intellectual property rights, including duly registered trademarks and other enforceable proprietary interests.
It therefore rejected suggestions that any individual or organisation has exclusive ownership of the broader concept of an economic summit.
Court grants interim injunction
Addressing reports that the summit had been halted, NDCCITMA said the dispute is already before the Federal High Court in Port Harcourt and that there is no court order restraining the event.
The chamber disclosed that in Suit No. FHC/PHC/CS/57/2026, Justice Stephen Dalyop Pam granted an interim injunction restraining the defendants—Kunle Nwiwa Junior and Keneva Consult Ltd.—from interfering with the planned summit.
According to NDCCITMA, the court also directed the defendants to remove publications, notices, petitions, social media posts and other statements allegedly considered damaging to the chamber’s name, integrity and reputation pending the hearing of its motion for interlocutory injunction.
The matter has been adjourned until September 22, 2026 for further hearing.
Chamber rejects ₦500 million demand claim
NDCCITMA also alleged that it had received a demand from Nwiwa Junior requesting ₦500 million as a condition for abandoning his claims over the summit.
The chamber said the demand was rejected, adding that it subsequently petitioned the Inspector-General of Police over what it described as repeated harassment and threats directed at its officials.
It said the petition sought police intervention, including inviting the complainant for questioning and caution where necessary.
Summit opens September 15
Despite the legal dispute, NDCCITMA reaffirmed that the 2026 Niger Delta Economic & Investment Summit will hold from September 15 to 17, 2026, at the Obi Wali Conference Centre in Port Harcourt, Rivers State.
The summit will be held under the theme “Driving Investment, Innovation & Industrial Growth in the Niger Delta” and is expected to bring together policymakers, investors, business leaders, development partners and industry stakeholders to discuss economic transformation across the region.
The chamber said it remains committed to promoting commerce, industry, trade, mining, agriculture and sustainable economic development throughout the Niger Delta while allowing the courts to determine all outstanding legal issues.
Tinubu Niger Delta summit opens in Port Harcourt as investors and policymakers gather to drive investment, innovation and industrial growth
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