We specialize in assisting a diverse clientele base, which includes: Government Agencies, High Net worth Individuals, Multi – Nationals, Insurance Companies and Small savers. ASL manages such funds to achieve a maximum return with a minimum risk through efficient portfolio diversification.
The Nigerian equity market closed trading activities for the month of August on a bullish note, as key performance indicators showed mixed outcomes. The NGX-ASI rose by +1.20%, while the Market Capitalization increased by +1.23%. The mixed performances of these indicators can be attributed to the additional listings of 2,075,285,714 Ordinary Shares of 50 Kobo Each at N4.50 per share arising from Sunu Assurances Nigeria Plc’s Rights Issue; 2,510,848,144 ordinary shares of 50 Kobo each at N2.00 per share arising from Sovereign Trust Insurance Plc’s Rights Issue, and Sterling Financial Holdings Company Plc’s Private Placement of 2,573,080,294 Ordinary Shares of 50 Kobo Each at N4.00 Per Share, as well as Coronation Insurance Plc’s Private Placement of 4,533,624,070 Ordinary Shares of 50 Kobo Each at N2.16 Per Share. Therefore, the NGX-ASI added 2,900.92 points in today’s trading session, reflecting a 1.20% increase to close at 244,199.39 while Market Cap gained ₦1,913.26 billion, rising by 1.23%, thereby settling at ₦157.74 trillion.
Furthermore, the Total Volume of trades and the Total Value traded increased by 0.17% and 29.56% respectively. Approximately 606.19 million units valued at ₦38,703.92 million were transacted across 53,471 deals. As regards volume, ACCESSCORP generated 20.90% to emerge the most traded, followed by GTCO (5.48%), UBA (5.20%), NB (5.16%), and VERITASKAP with 4.79%. On value traded, MTNN generated 14.80% of the total value of trade, thereby making it the highest traded on the exchange.
Meanwhile, on the best performers’ chart, OMATEK led by generating +10.00%, then trailed by IKEJAHOTEL (+9.95%), SOVRENINS (+9.94%), SUNUASSUR (+9.86%), ROYALEX (+9.09%), ETI (+8.98%), and thirty-seven others. A total of sixteen (16) stocks depreciated. With a price depreciation of -9.41%, ABBEYBANK topped the worst performers’ chart, followed by AVACAP (-7.69%), FTNCOCOA (-6.25%), TANTALIZER (-4.98%), CONHALLPLC (-4.60%), and CMFC (-4.48%). Hence, the market breadth closed on a positive note, as there were 43 gainers and 16 losers.
Finally, the market sectoral performance was positive today as four of the five major market sectors increased. The Banking sector appreciated by +3.11%, followed by the Consumer goods sector (+1.72%), the Oil & Gas sector (+1.35%), and the Insurance sector (+0.88%). Only the Industrial goods sector declined by 0.65%.
Following the recently released data by NBS, the country’s GDP stood at 3.89% in Q1’2026, marking a 18bps decline from the 4.07% recorded in Q4’2025. However, on a year-on-year basis, the growth rate in the first quarter of the year reflects a 78bps improvement compared to the 3.13% posted in Q1’ 2025.
Sectoral GDP Dynamics: Oil vs. Non-Oil
The non-oil sector contributed 96.08% to total GDP in Q1’2026 a decline from 97.13% in Q4 2025, but higher than 96.03% recorded in Q1 2025. Conversely, the Oil sector’s contribution increased by 1.05% to 3.92% in Q1’2026, from 2.87% in Q4 2025, but dropped by 0.05% when compared to 3.97% contributed in Q1’2025, due to reduction in crude oil production compared to the previous quarter. Furthermore, in terms of growth, the Oil sector receded by 4.22% points, recording a growth rate of 2.57% in Q1’2026, compared to 6.79% in Q4’2025. Likewise, the non-oil sector recorded real GDP growth of 3.94%, down by 0.05% points compared to 3.99% in Q4’2025.
The country’s crude oil production averaged 1.55mbpd in Q1’2026, which was lower than the daily average crude oil production of 1.62mbpd recorded in the same quarter of 2025, and 0.03mbpd lower than the Q4’2025 production volume of 1.58mbpd.
Mixed Narrative in the Agricultural Sector
Agricultural sector posted a real growth rate of 3.15% in Q1’2026, a decline of 85bps from 4.00% growth recorded in Q4’2025. However, the sector’s performance expanded by 3.08% points when compared to Q1’2025, when it grew by 0.07%. The 85bps decline from the 4.00% growth recorded in Q4’2025 is a typical seasonal phenomenon in Nigerian agriculture. Q4 marks the peak main harvest season across the country, where crop production maximizes output, whereas Q1 marks the dry season and planting cycle, resulting in lower output momentum. In addition, the sector contribution to the GDP dropped, standing at 23.16% in Q1’2026, which was 550bps lower than 28.66% recorded in Q4’2025.
