Economy

Nigerian Stock Market Rises with N285bn Gain

Published

1 year ago

August 26, 2025

Nigerian Stock Market posts N285bn gain as ASI climbs 0.31%, led by Julius Berger, Cutix, and insurance stocks amid strong investor sentiment

The Nigerian Stock Market opened the week on a strong footing, extending last Friday’s bullish rally with a fresh gain of N285 billion in market capitalisation.

Also read: Nigerian Stock Investment Guide Reveals Strong Picks

Renewed investor appetite in heavyweight stocks such as Julius Berger, Cutix, Regency Alliance Insurance, Veritas Kapital, MC Nicholas, and 36 others helped lift the market indices higher, consolidating positive momentum.

At the close of trading on Monday, the market capitalisation advanced by 0.31% to settle at N89.493 trillion, up from N89.208 trillion on Friday. Similarly, the All-Share Index (ASI) gained 435.63 points to close at 141,439.77.

Market breadth remained upbeat as 40 gainers outweighed 17 losers. Julius Berger topped the list, soaring by 9.93% to N146.10.

Cutix followed with a 9.86% increase to N3.90, while Regency Alliance Insurance and Veritas Kapital gained 9.70% and 9.60% respectively. MC Nicholas also rose 9.38% to N3.50.

On the flip side, University Press led the losers with a 9.92% drop to N5.54. Cadbury Nigeria fell 9.61% to N57.85, while Abbey Mortgage Bank, DAAR Communications, and Austin Laz also closed lower.

Despite the bullish run, market activity slowed in terms of volume and value. Investors exchanged 591.2 million shares worth N11.7 billion in 33,342 deals, compared with 1.3 billion shares valued at N47.8 billion traded last Friday.

FCMB led the activity chart with 105.13 million shares worth N1.14 billion. Veritas Kapital followed with 59.6 million shares, while Universal Insurance, AIICO Insurance, and Guaranty Trust Holding Company also recorded significant volumes.

Also read: Nigerian Stock Market Closes Week Down 0.56%, Loses ₦516 Billion in Value

The Nigerian Stock Market continues to ride on investor optimism, with analysts noting that sustained interest in blue-chip and insurance stocks could further fuel momentum in the coming sessions.

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Economy

NRS Assures Taxpayers VAT Remains at 7.5% Amid Tax Reform Concerns

Published

24 hours ago

October 27, 2026

Peculiar Adirika

NRS VAT rate remains 7.5%, the agency says, while addressing concerns over bank deductions, loans and the implementation of Nigeria’s tax reforms

The Nigeria Revenue Service (NRS) has assured taxpayers that Nigeria’s standard Value Added Tax (VAT) rate remains 7.5 per cent, while addressing concerns over the implementation of the country’s new tax reforms.

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The assurance was given by the Tax Administrator responsible for Kano, Jigawa and Katsina states, Samaila Abdullahi, during an NRS stakeholders’ engagement and tax reform sensitisation programme in Kano.

Abdullahi said concerns raised by individuals, traders, business owners and other stakeholders about the new tax laws were understandable, particularly questions relating to bank transactions, loans, family transfers, business income and the potential impact on small businesses.

He urged taxpayers to understand the reforms through the provisions of the law rather than rely on assumptions or misinformation.

According to him, the tax laws do not automatically authorise deductions from personal bank accounts.

He stressed that tax collection and recovery must follow the applicable legal provisions and procedures.

Abdullahi also clarified that money received as a loan should not automatically be classified as business income or profit, explaining that proper documentation is essential to establish the nature of a transaction.

“For instance, when a trader receives a loan of N500,000, the amount should not automatically be treated as N500,000 in sales or profit, provided the transaction is properly documented,” he said.

The NRS official’s comments were aimed at addressing public concerns about how the new tax framework would affect personal finances and business transactions.

He emphasised the importance of distinguishing between taxable business receipts and other funds, such as documented loans, when determining a taxpayer’s obligations.

The clarification comes amid heightened public interest in Nigeria’s tax reforms and questions about their implications for individuals, traders and small businesses.