Business
NGX market cap rises N598bn
NGX market cap rises by N598bn as consumer and tech stocks lead equities rally, reflecting renewed investor confidence despite slower trading
The Nigerian Exchange Limited (NGX) recorded a strong trading session on Wednesday as investor optimism returned to the equities market, lifting total market capitalisation by N598 billion to close at N106.78 trillion.
Also read: NGX Index Down By 0.01% As Investors Lose N2bn
The increase, a 0.56 per cent gain over the previous session, underscores growing confidence among investors despite a slowdown in overall trading activity.
A total of 752.4 million shares changed hands in 55,739 deals, generating a turnover of N29.62 billion.
This represents a 33 per cent decline in volume and a 12 per cent drop in turnover compared with Tuesday, although the number of deals rose by 13 per cent, indicating sustained interest in select equities.
Trading was broad-based, with 131 equities participating. Forty-seven stocks recorded gains, led by Academy Press, which surged 10 per cent to close at N8.25 per share.
NCR Nigeria followed with a 9.98 per cent increase, Tripple Gee and Co rose 9.95 per cent, and Tantalizers gained 9.93 per cent.
Twenty-eight stocks ended the session lower, led by May and Baker Nigeria, which fell 9.79 per cent to N28.55 per share.
Coronation Insurance, Livestock Feeds, and PZ Cussons also recorded declines.
Access Holdings recorded the highest trading volume, with 53.41 million shares exchanging hands for a total value of N1.24 billion.
Lasaco Assurance followed with 39 million shares traded for N100.2 million, while Veritas Kapital Assurance and Tantalizers accounted for 32.79 million and 30.13 million shares, respectively.
On the value side, Aradel led with N8.99 billion from 11.33 million shares traded, followed by Seplat with N4.02 billion, MTN Nigeria with N1.64 billion, and Zenith Bank with N1.25 billion.
Market analysts attributed the session’s gains to bargain-hunting and renewed confidence in select blue-chip stocks, particularly in the consumer and technology sectors.
Analysts noted that while market capitalisation rose significantly, the decline in volume and turnover highlights a cautious approach among investors, with smaller traders selectively targeting stable-return equities.
Consumer-focused companies were among the top beneficiaries, with Academy Press, Tripple Gee, and Tantalizers leading the rally.
Financial and insurance stocks, however, experienced mixed performance, as May and Baker, Wapic, and Livestock Feeds lagged behind, reflecting sector-specific pressures despite the overall market gains.
Also read: NGX Welcomes Guaranty Trust Holding Company Plc With Closing Gong Ceremony
NGX extended its bullish trend on Tuesday, as sustained buying in key stocks lifted total market capitalisation by N1.66 trillion, reinforcing positive investor sentiment in the equities market.
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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