News Update

DMO Opens N600 Billion FGN Bond Re-Opening Auction Amid Elevated Yield Environment

The Debt Management Office (DMO), on behalf of the Federal Government of Nigeria, has opened a N600 billion bond re-opening auction scheduled for Monday, May 18, 2026, with yields reaching as high as 22.60%. The offering comprises two previously issued Federal Government bonds across the 10-year and 20-year tenor segments, reinforcing the government’s continued reliance …

DMO Opens N600 Billion FGN Bond Re-Opening Auction Amid Elevated Yield Environment Read More »

Nigeria’s Fixed Income Market Delivers Strong Sovereign Returns in Q1 2026

Nigeria’s fixed-income market recorded some of its strongest sovereign yield performances in recent years during the first quarter of 2026, before a gradual easing cycle began to moderate returns across the yield curve. A review of primary market auction data from the Central Bank of Nigeria (CBN) and the Debt Management Office (DMO) shows that …

Nigeria’s Fixed Income Market Delivers Strong Sovereign Returns in Q1 2026 Read More »

DPH CAPITAL MARKETS DIGEST (11th–15th May 2026)

The NGX week of 11–15 May 2026 saw a powerful rotation into paints, media, healthcare, and real estate names, with Berger Paints PLC leading the gainers at +55.57% to ₦168.95 extending the paints sector re-rating that began with CAP PLC the prior week. SCOA Nigeria PLC surged +45.92%, while Daar Communications (+42.41%) and Fidson Healthcare (+32.52%) signalled broadening market breadth across consumer and healthcare names. Learn Africa (+32.32%), Mecure Industries (+30.72%), and Chams Holding (+29.03%) rounded out a diverse top ten. On the decliners side, Zichis Agro Allied Industries led losses at -11.78% to ₦29.43 a natural pullback after three consecutive weeks of extraordinary gains totalling over 170%. The Initiates PLC (-10.03%) and NPF Microfinance Bank (-10.00%) also featured, while Stanbic IBTC Holdings continued to face selling pressure at -7.91% to ₦163.00.

DPH CAPITAL MARKETS DIGEST (4th–8th May 2026)

The NGX week of 4–8 May 2026 was headlined by exceptional gains in paints, agro-allied, and consumer staples, with CAP PLC surging +60.95% to ₦233.70 the standout performer of the week and the strongest gain by a large-cap industrial in recent months. Zichis Agro Allied Industries extended its remarkable multi-week run with a further +53.17% gain to ₦33.36, while FTN Cocoa Processors jumped +50.91%. RT Briscoe (+40.98%), Dangote Sugar Refinery (+33.43%), and Berger Paints (+32.84%) rounded out a week dominated by consumer-facing and industrial names. On the decliners side, Nigerian Aviation Handling Company (NAHCO) led losses at -20.95%, followed by Guinness Nigeria (-18.99%) and Access Holdings (-12.59%). MTN Nigeria shed -12.45% to ₦801.10, reflecting profit-taking in the telecoms sector after recent strength.

DPH CAPITAL MARKETS DIGEST

The Nigerian Exchange (NGX) enters the week of 20 April on extraordinary momentum. The All-Share Index (ASI) closed last Friday 17 April at a new all-time high of 217,167.57 points a weekly gain of +6.20% (+12,679 points), marking the 12th consecutive bullish trading session. Market capitalisation surged to ₦139.8 trillion, representing a gain of ₦8.89 trillion in a single week. The Banking sector led with +11.85% for the week and Oil & Gas gained +17.59%, driven by Zenith Bank, GTCO, Seplat, and Aradel. Q1 2026 delivered N29.83 trillion in total market gains the largest first-quarter gain in Nigeria’s stock market history. The NGX ASI is up approximately 40% year-to-date, establishing Nigeria as one of the world’s best-performing equity markets in 2026.

DPH CAPITAL MARKETS DIGEST – (MARKET WEEKLY COMMENTARY 7th–10th APRIL 2026)

The Nigerian Exchange (NGX) for the week of 7–10 April 2026 recorded a notable rotation: quality large-cap names headlined the gainers list a clear shift from the micro-cap recovery plays and thinly traded names that dominated previous weeks. Trans-Nationwide Express led with +32.75%, while NGX Group itself (+13.94%), GTCO (+10.66%), NASCON (+9.52%), Guinness Nigeria (+9.38%), and Zenith Bank (+8.74%) all featured prominently. The appearance of GTCO, Zenith Bank, Guinness and Nestle Nigeria on the gainers list signals broad-based institutional buying returning to blue-chip counters. On the decliners side, Daar Communications (-21.47%) and RT Briscoe (-20.00%) led losses, with many small-cap and insurance names also retreating.

Nigeria’s Exchange Rate Dynamics: Drivers, Investment Implications & Economic Impact (Q1 Report)

The Nigerian foreign exchange market experienced significant volatility between January and April 2026, with the
USD/NGN rate oscillating between approximately ₦1,335 and ₦1,430. This report examines the key
macroeconomic and structural drivers behind these fluctuations, assesses the implications for investment flows and
capital importation, and evaluates the broader effects on the Nigerian economy. Understanding these dynamics is
critical for investors, portfolio managers, and policymakers navigating Nigeria’s evolving financial landscape.

DPH CAPITAL MARKETS DIGEST

The Nigerian Exchange (NGX) delivered a broadly positive week for the period 23–27 March 2026, with notable
breadth across Consumer Goods, Oil & Gas, and Industrial sectors. The week’s standout performers were led
by Zichis Agro Allied Industries (+60.72%), Premier Paints (+60.26%), and John Holt (+59.92%) — all reflecting
continued momentum in recovery plays. Blue-chip names including Presco (+16.40%) and Airtel Africa
(+10.00%) also featured prominently among the week’s gainers, confirming institutional participation in high
quality names.

Scroll to Top