Nigeria’s stock market has solidified its position as the second-largest in Africa, with its market capitalisation reaching a record $122 billion. This milestone reinforces the growing momentum in the Nigerian equities market, which has seen notable long-term wealth creation from key agriculture-sector performers like Presco Plc and Okomu Oil Palm Plc. Over the last decade, these firms delivered massive returns, compounding investor capital significantly even when adjusted for dollar values. While South Africa continues to dominate the continent’s landscape with a $1.49 trillion market, Nigeria has successfully widened its lead over Morocco, which remains the only other African market currently exceeding the $100 billion threshold. Increased foreign interest and a more stable macroeconomic environment are credited with this performance.

Presco Plc has approved a dividend payout of N17.09 billion for the 2025 financial year, translating to N14.66 per ordinary share. The resolution was passed during the company’s Annual General Meeting held virtually on September 15, 2026. Shareholders also confirmed several board appointments and the constitution of a new Statutory Audit Committee. The payout follows a strong 2025 performance, where the company reported a 57.4% increase in profit to N178 billion, driven by higher palm oil revenues and strategic expansion.

The Nigerian Exchange Group (NGX Group) has launched corporate climate baseline assessments under its N-Zero initiative. This phase aims to evaluate the climate readiness of participating firms, identifying gaps in emissions measurement, transition planning, and risk management. Launched in January alongside DEG Impulse gGmbH and Africa Foresight Group, the program has already engaged over 50 companies, including several major listed entities like Access Holdings, Dangote Cement, and Zenith Bank. The assessments, scheduled for completion this September, are designed to help firms move beyond climate ambition toward measurable, science-aligned decarbonization targets and long-term capital access.

Nigerian equities rallied during Friday’s trading session, driven by investor optimism following FTSE Russell’s confirmation of thirty-one Nigerian stocks for its Frontier Index Series. This follows Nigeria’s official reclassification to Frontier Market status, effective September 21, 2026. Market analysts expect the transition to improve global visibility, liquidity, and foreign portfolio inflows, particularly for large-cap stocks that meet the index criteria. The NGX All Share Index rose to 247,016 points, with banking sector gains leading the market activity.

FTSE Russell has confirmed the first list of ten Nigerian companies eligible for its Frontier Index Series, marking Nigeria’s official return to Frontier Market status effective September 21, 2026. The selected large-cap stocks are Aradel Holdings, Dangote Cement, First HoldCo, GTCO, MTN Nigeria, Nestlé Nigeria, Nigerian Breweries, Presco, Stanbic IBTC Holdings, and Zenith Bank. This reclassification, following improvements in foreign exchange liquidity and the adoption of a T+1 settlement cycle, is expected to boost global visibility and attract international portfolio inflows.

SIAT Group, the majority shareholder of Presco Plc, recently hosted the SIAT Forward event to celebrate the company’s legacy, leadership, and staff. The event, held on August 21, 2026, honored the founding Vandebeeck family and long-serving stakeholders who have contributed to the firm’s growth since its inception in 1991. Current leadership emphasized a commitment to expanding the integrated agricultural business and creating value for stakeholders across its operations in Nigeria and Ghana.

The Court of Appeal, Benin Division, has overturned a Federal High Court ruling that previously invalidated Presco Plc’s 2025 Annual General Meeting and blocked its rights issue. The appellate court found that the lower court lacked jurisdiction and failed to grant Presco a fair hearing. By setting aside the December 2025 judgment, the ruling effectively restores the validity of the AGM resolutions and the company’s corporate actions, allowing the rights issue process to stand.

CardinalStone Research has downgraded Presco Plc from BUY to HOLD, setting a 12-month target price of N2,140.25. The revision reflects near-term earnings pressure driven by stagnant revenue growth, rising operating costs, and share dilution from a recent rights issue. Despite stable global crude palm oil prices, growth was constrained by lower yields in Ghana and increased local competition from imports and smuggling in Nigeria. Operating expenses surged by 11.4 percent, with significant spikes in transportation and diesel costs. However, the company has significantly reduced its debt levels and continues to advance its expansion projects, including the Saro Oil Palm acquisition and a new milling facility, which are expected to support long-term recovery and revenue growth by 2027.

The Nigerian equities market experienced a significant correction for the week ended August 14, 2026, as investors engaged in widespread profit-taking. The NGX All-Share Index declined by 1.20% to close at 242,619.20 points, with market capitalization shedding approximately N3.8 trillion from its weekly peak.

Every sectoral index closed in the red, with the Consumer Goods Index leading the decline at 6.72%. Despite this, key sectors like Oil & Gas and Industrial Goods remain strong on a year-to-date basis. Trans-Nationwide Express emerged as the top performer with a 32.09% gain, while AVA Capital saw the sharpest decline. Trading activity surged significantly, with over 12 billion shares traded, driven largely by the Financial Services sector.

Nigeria’s top audit firms reported over N175 billion in combined revenue for the 2025 financial year, according to Financial Reporting Council of Nigeria transparency reports. KPMG Nigeria led the revenue rankings with N67 billion, despite having fewer clients than PricewaterhouseCoopers (PwC). PwC, which topped the market by client count with 295 entities, recorded N55.36 billion in revenue, followed by Ernst & Young (EY) at N42.27 billion. The data highlights a significant shift in the professional services sector, where advisory, tax, and consulting services increasingly drive revenue growth over traditional statutory audit engagements. Deloitte, BDO, Grant Thornton, and Forvis Mazars also maintained substantial market influence, though Deloitte did not disclose specific revenue figures.

Nigeria’s largest listed oil and gas companies recorded a stellar first half in 2026, driven by a surge in global crude prices linked to the US-Israel-Iran conflict. Seplat Energy, Aradel Holdings, and Oando reported a combined revenue of N7.05 trillion. While private upstream operators benefited from improved production and high prices, the sector faced mixed profitability due to varying finance costs and operational structures. In contrast, domestic palm oil producers Okomu Oil and Presco saw their weakest H1 revenue performance in years, as increased imports of cheaper palm oil eroded domestic pricing power.

Eight companies listed on the Nigerian Exchange have announced dividend qualification dates for August 2026. This schedule allows investors to position themselves for upcoming shareholder payouts across sectors including telecommunications, energy, agriculture, and finance. Notable firms participating include Seplat Energy Plc, which is offering a combined interim and special dividend, and MTN Nigeria Communications Plc, which has announced an interim payout of N26.00 per share. Other companies with upcoming qualification dates include VFD Group, Presco, Ikeja Hotel, The Initiates, Custodian Investment, and University Press. Investors must hold shares by the specified qualification dates to be eligible for these dividends.

Presco Plc has reported a pre-tax profit of N122.2 billion for the first half of 2026, a 9.3% increase compared to the same period in 2025. Despite flat revenue of N198.8 billion, the firm’s bottom line was bolstered by a 31.9% reduction in finance costs and a significant strengthening of its balance sheet, including a 42.5% decrease in total liabilities. Following these results, the board has proposed an interim dividend of N10 per share. The company noted that its 2025 Annual General Meeting remains postponed pending court rulings.

The Nigerian equities market closed the week ended July 17, 2026, on a mixed note as a 38.7% surge in First HoldCo Plc offset losses in major industrial and consumer goods stocks. The NGX All-Share Index dipped marginally by 0.14% to 243,462.13 points, while market capitalization climbed to N157.06 trillion, bolstered by the additional listing of 13.812 billion shares by Sterling Financial Holdings Plc.

Banking stocks dominated performance, with the sector index rising 9.30%, fueled by strong demand for First HoldCo, Fidelity Bank, and UBA. Conversely, the Industrial Goods sector faced downward pressure, led by a 19% decline in BUA Cement, alongside notable losses in BUA Foods, Nestlé, and Presco. Trading activity slowed significantly during the period, with transaction volume and value falling by 22.72% and 17.26%, respectively. Investors are now shifting focus toward the upcoming H1 2026 earnings season.

Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso, has stated that the regulator will maintain heightened supervision of the banking sector despite the successful conclusion of the recent recapitalisation exercise.

Speaking at the BusinessDay 14th Annual CEO Forum, Cardoso noted that while the industry raised between N4 trillion and N5 trillion in fresh capital to build resilience against economic shocks, continuous oversight remains essential. He emphasized that the stronger capital base is intended to support eventual increased lending to the private sector once inflation and interest rates moderate. Cardoso also warned banks against indiscriminate lending, urging them to prioritize sophisticated risk management and proper analysis, especially when navigating complex sectors like oil and gas. The CBN plans to collaborate with financial institutions to enhance their internal risk assessment capabilities.