Lagos — Nigerian equities remained near recent highs as the NGX All-Share Index closed marginally lower on Monday, down 0.01% to 109,697.83 points. Market participants maintained a cautious stance while assessing domestic policy developments and global trade dynamics. This was reflected in the mixed sectoral performance.
The strongest gains came from producer manufacturing (+4.31%), electronic technology (+2.16%), commercial services (+1.95%), and consumer non-durables (+1.68%). In contrast, consumer services (-5.20%), transportation (-1.32%), and the financial sector (-0.40%) underperformed.
Among key equities, BUA Foods, Dangote Cement, and Geregu Power closed flat, while MTN Nigeria Communications and Zenith Bank declined by -1.08% and -0.83%, respectively. Transcorp Hotels Plc recorded a steep drop, falling 5.64%.
At the same time, the Ministry of Industry, Trade, and Investment reaffirmed its commitment to the African Continental Free Trade Area (AfCFTA) agreement as a strategic pillar for economic diversification and regional growth. Additionally, officials reported progress on national reforms, including improved revenue collection and a more stable debt profile.
These advances may also contribute to a more stable macroeconomic environment, which could, in turn, support the local equity market going forward.
