Business
Nigeria Stock Market Surges Strongly by N1.1 Trillion
Nigeria stock market surge N1.1 trillion as Airtel Africa and banking stocks drive NGX higher in strong positive trading session
The Nigerian stock market closed on a strong positive note on Tuesday, gaining approximately ₦1.1 trillion in market value as renewed buying interest in Airtel Africa Plc and 36 other listed equities lifted overall performance.
Also read: Eid 2026: Prices of Goats, Rams Surge in Oyo Market
The Nigeria stock market surge N1.1 trillion was reflected in the performance of the Nigerian Exchange Limited All Share Index (NGX ASI), which rose by 1,691.86 basis points, or 0.85 per cent, to close at 200,705.88 basis points.
Market breadth closed firmly positive, with 37 gainers compared to 23 losers, signalling sustained selective buying across key sectors.
Airtel Africa led the rally, climbing 10 per cent, alongside John Holt, Consolidated Hallmark Insurance and Legend Internet, which also gained 10 per cent each.
Other notable gainers included Zichis Agro-Allied Industries, up 9.97 per cent, and Premier Paints, which rose 9.94 per cent.
On the losers’ chart, NPF Microfinance Bank declined by 6.29 per cent, while Royal Exchange shed 5.32 per cent. CWG, Veritas Kapital Assurance and UPDC also recorded losses during the session.
Trading activity remained robust, with total volume increasing by 25.01 per cent to 1.292 billion units, valued at ₦65.335 billion across 89,949 deals.
Access Holdings dominated trading activity with 266.788 million shares exchanged, followed by GTCO and Wema Bank. United Bank for Africa and Zenith Bank also recorded significant transaction volumes during the session.
Market analysts said the rally was driven by strong sectoral performance, particularly in banking, consumer goods, insurance and commodities, which supported overall investor sentiment.
Imperial Asset Managers Limited noted that the market closed with a cautiously optimistic outlook, driven by continued interest in fundamentally strong and dividend-paying stocks.
Also read: Valuation Gap Raises Alarm as South Africa Bank Equals Nigeria Sector
However, the firm cautioned that profit-taking could persist in recently appreciated equities, even as institutional investors continue to influence market direction in the near term.
Business
ISAT Group Rebrands, Partners Afro Mobile to Launch High-Speed Broadband Services in Nigeria by Q3 2026
New identity signals bold expansion as landmark investment accelerates affordable, high-speed connectivity for millions of Nigerians.
Nigeria’s digital economy is set for a major boost as ISAT Group unveiled a new corporate identity and announced a strategic alliance with Afro Mobile, ahead of its Q3 2026 commercial launch.
The partnership is underpinned by Afro Mobile’s acquisition of a 40% equity stake in ISAT Group and a US$3 billion financing package structured by Equiline Finance, positioning the alliance among the largest indigenous broadband investment initiatives in Nigeria’s telecommunications sector.
The rebranding marks ISAT Group’s evolution into a next-generation digital connectivity company focused on broadband, satellite communications and enterprise solutions. Together, the partners will expand affordable, high-speed internet access to homes, businesses, government institutions and underserved communities nationwide.
ISAT Group Chief Executive Officer, Dr. Adeyanju Binuyo, described the development as a transformational milestone.
“Our vision extends beyond connectivity. We are building the digital infrastructure that will power businesses, connect communities, stimulate innovation and accelerate Nigeria’s digital economy. This partnership demonstrates our commitment to making world-class broadband accessible to every Nigerian.”
Group Chairman, Mr. Ganiyou AFOLABI Moustapha, said the alliance reflects ISAT Group’s long-term confidence in Nigeria’s future.
“This investment is a strong vote of confidence in Nigeria’s digital economy. Together with Afro Mobile, we are building a resilient indigenous broadband platform that will create jobs, drive innovation and support inclusive national development.”
With operations commencing in Q3 2026, ISAT Group and Afro Mobile are poised to emerge as a leading indigenous broadband provider, delivering next-generation connectivity that will help bridge Nigeria’s digital divide and power the country’s next phase of economic growth.
Business
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