NEWS
NGX ASI Surpasses 68,000 Mark With 33% Y-T-D Return
In a remarkable turn of events, the Nigerian Exchange Limited (NGX) achieved a significant milestone as its All-Share Index (ASI) surged to an unprecedented level of 68,279.14, marking a 1.11 percentage increase.
Biztellers reports that this achievement surpasses the previous record of 66,371.20 points set on March 5, 2008, following a prior all-time high of 66,490.34 points.
A look at the performance of listed stocks shows that the performance was primarily attributed to the remarkable surge in banking stocks, with leading financial institutions such as Zenith Bank and GTCO leading the charge.
Investors strategically positioned themselves to capitalise on the recent impressive earnings reports released by select banks over the weekend. Additionally, the demand for shares in BUA Foods contributed to this positive market sentiment.
As a result of this surge, the market capitalization experienced a notable increase of N411 billion, closing at N37.369 trillion compared to the previous figure of N36.958 trillion.
This remarkable performance pushed the year-to-date (YTD) return to an impressive 33.22 percent.
Despite this overall positive trend, sectoral performance within the market was mixed.
The Banking Index, boasting a significant gain of 5.65 percent, was at the forefront, driven by strong performances from Zenith Bank and GTCO.
Next was the Consumer Goods Index, which posted gains at 1.57 percent, while the Insurance (-2.81 percent) and Industrial Index (-0.14 percent) faced losses.
Meanwhile, the NGX Oil and Gas Index remained stable.
Market activity witnessed a substantial uptick, with trading volume surging by 67.88 percent to 845.680 million units, and the value of stocks traded increased by 88.56 percent to reach N13.03 billion.
This was evident in 11,934 deals, compared to the previous session’s 503.74 million units, N6.91 billion in value, and 7,606 deals.
Notably, Zenith Bank led the activity chart with 75.411 million shares sold, valued at N2.79 billion. GTCO followed closely with the sale of 54.80 million shares worth N2.20 billion, while Dangote Sugar transacted 20.85 million shares valued at N1.38 billion.
Market breadth ended on a positive note, with 38 stocks experiencing gains in value, while 19 stocks saw a decline. Dangote Sugar emerged as the top gainer with an impressive 10 percent increase in stock value.
Conversely, Chip Plc led the group of declining securities, with a 9.57 percent decrease in stock value.
In reaction, financial analysts attribute the strong market performance to recent corporate actions.
They anticipate that investors will continue to selectively invest in fundamentally strong stocks. However, they also acknowledge the possibility of profit-taking activities on stocks that have seen notable appreciation in recent weeks.
Despite these considerations, analysts recommend that investors seek trading opportunities in fundamentally sound stocks, given the ongoing challenges posed by the weak macroeconomic environment on corporate earnings.
NEWS
FG Approves Biggest NYSC Overhaul in 53 Years, Introduces Civilian Leadership, New Uniform
The Federal Government has approved the most comprehensive overhaul of the National Youth Service Corps (NYSC) since its establishment 53 years ago, introducing a civilian leadership structure, a redesigned uniform, and several reforms aimed at making the scheme more relevant to Nigeria’s economic and youth development goals.
The approval was granted during the Federal Executive Council (FEC) meeting held on Monday in Abuja.
A major highlight of the reforms is the replacement of the military leadership of the NYSC with a civilian operational head, while the military will continue to provide security support for corps members across the country.
READ MORE: 2027 Elections: NYSC DG Warns Corps Members Against Political Campaigns, Gives Reasons
To pave the way for the implementation of the reforms, the FEC directed the Attorney-General of the Federation and the Federal Ministry of Youth Development to amend the NYSC Act and other relevant regulations to provide legal backing for the changes.
Announcing the development, the Minister of Youth Development, Ayodele Olawande, described the overhaul as the first holistic review of the NYSC in its 53-year history.
According to him, the reforms are designed to transform the scheme into a skills-driven, productivity-focused institution that aligns with President Bola Tinubu’s vision of building a $1 trillion economy.
The reforms include a technology-driven call-up process, risk-sensitive deployment to enhance the safety of corps members, and a redesigned six-week orientation programme with greater emphasis on leadership, entrepreneurship, digital skills, and specialised career pathways.
The government also approved skills-based primary assignments that match corps members’ academic qualifications and career aspirations, improved orientation camp standards through a national grading and certification system, a new graduation ceremony to replace the traditional Passing Out Parade, and a redesigned NYSC uniform aimed at promoting professionalism and national pride.
Olawande said the reform process began in 2025 following extensive consultations involving the Federal Ministry of Youth Development, the Federal Ministry of Education, and the Office of the Special Adviser to the President on Policy and Coordination before receiving final approval from the Federal Executive Council.
He described the reforms as an investment in Nigeria’s youth, expressing confidence that the changes would make the NYSC more impactful and better positioned to equip young Nigerians with practical skills for the future.
Established in 1973 after the Nigerian Civil War, the NYSC was created to promote national unity by deploying graduates to states outside their regions of origin for one year of compulsory national service.
The latest reforms represent the first comprehensive review of the scheme since its creation.
NEWS
Ogun Govt Reveals Real Cause of Strange Gas Emissions in Schools
The Ogun State Government has explained the cause of the recent gas emissions that sparked panic in some schools across Ijebu-Ode, attributing the incidents to natural underground geological activity rather than spiritual causes or security threats.
The clarification was made during a stakeholders’ meeting in Ijebu-Ode Local Government Area, where the Commissioners for Environment, Ola Oresanya, and Health, Dr. Tomi Coker, met with parents, school administrators and development partners to provide updates on the government’s investigation.
READ ALSO: Gunmen Kill Ex-Ogun State Broadcaster, Security Guard in Early Morning Attack
According to Oresanya, scientific investigations identified methane and sulphide gases escaping through underground fractures along established fault lines as the source of the emissions.
He explained that the affected communities are located along the Ifewara-Zungeru Trans-Atlantic fault line, which stretches from Mojoda through Ijebu-Ode and extends into Osun and Niger states.
He said findings linked the fault line to the locations where the gas emissions were recorded, including the affected schools. Oresanya noted that the area was historically forested and largely uninhabited before missionary schools were established there.
The commissioner disclosed that laboratory analyses are ongoing to determine whether the gases are thermogenic or methanogenic in origin.
He also revealed that the state government is investigating the possibility that Ijebu-Ode may sit on significant natural gas deposits beneath the affected communities.
Commissioner for Health, Dr. Tomi Coker, urged residents to remain calm and adhere to safety precautions whenever gas emissions occur.
She advised residents to cover their noses with wet handkerchiefs instead of face masks and encouraged anyone requiring urgent medical attention to contact the state’s emergency health line, 08112000033.
Also speaking, the Commissioner for Education, Science and Technology, Prof. Abayomi Arigbadu, assured parents that the affected schools would only reopen after consultations with relevant stakeholders and the completion of necessary safety assessments.
The Head of the Department of Earth Sciences at Olabisi Onabanjo University, Prof. Philip Ikhane, also appealed for calm, advising residents to minimise activities such as borehole drilling and quarry blasting, warning that such activities could worsen the effects of the existing fault lines.
The Ogun State Government reaffirmed its commitment to protecting lives and property, urging residents and school authorities to promptly report any future gas emissions while investigations continue.
NEWS
‘No Gov’t Can Truly Understand Nigeria’s Economy Without Employers’ – Shettima
Vice President Kashim Shettima has said that no government can fully understand or effectively manage Nigeria’s economy if it fails to engage employers and the organised private sector.
Speaking on Monday at the 5th Nigerian Employers’ Summit in Abuja, the Vice President said the Federal Government is committed to maintaining open dialogue with businesses while removing bureaucratic bottlenecks that hinder economic growth.
Represented by the Special Adviser to the President on General Duties and former Minister of the Federal Capital Territory (FCT), Dr. Aliyu Modibbo Umar, Shettima said reforms announced by the government must be experienced by businesses across the country, including Lagos, Kano, Aba and other commercial hubs.
SEE ALSO: VP Shettima insists tax reforms will improve lives and not impoverish Nigerians
According to him, the summit comes at a crucial time as Nigeria faces key economic challenges requiring practical solutions and stronger collaboration between government and the private sector.
“The private sector cannot compete on sentiment. It competes on functional infrastructure, predictable policies, fair taxation and reliable energy,” he said.
Shettima commended President Bola Ahmed Tinubu for taking difficult economic decisions, saying true leadership requires the courage to implement reforms that lay the foundation for sustainable prosperity.
He explained that the removal of fuel subsidy, foreign exchange reforms and fiscal policy changes were necessary to restore macroeconomic stability, rebuild investor confidence and create an environment where businesses can thrive.
The Vice President noted that businesses are not opposed to paying taxes but are concerned about multiple taxation, regulatory bottlenecks and policies that increase the cost of doing business.
“Our agenda reduces the number of taxes, harmonises administration, protects the vulnerable, supports small businesses and encourages compliance by lowering rates while widening the tax base needed to fund infrastructure,” he stated.
He also reaffirmed the government’s commitment to digitising public services and simplifying approval processes to ensure businesses experience the benefits of ongoing reforms without unnecessary delays.
In his welcome address, the Director-General of the Nigeria Employers’ Consultative Association (NECA), Adewale Oyerinde, said the Employers’ Summit has consistently produced practical policy recommendations that have helped shape government policies over the past five years.
Oyerinde also announced that from 2027, the Nigerian Employers’ Summit will be expanded into the International Employers’ Summit, bringing together employers and stakeholders from across Africa and other parts of the world.





