United Bank for Africa has made personal credit facilities of up to N30 million available for retail clients aiming to purchase shares in the upcoming Dangote Petroleum Refinery initial public offering. The financial institution informed its account holders via direct electronic mail, presenting the leverage option to individuals lacking immediate liquidity for the equity purchase. UBA highlighted this credit opportunity as a gateway to acquiring equity in a premier African industrial initiative while leveraging its long-term expansion prospects. This credit scheme seeks to broaden retail participation in one of the continent’s most significant public asset offerings.
Turning to equity movement, the Nigerian Exchange reversed course on Monday as investor valuations expanded by N228.25 billion amidst widespread buying sentiment. Consequently, total equity capitalization climbed from N162.16 trillion to reach N162.39 trillion by the close of business. The main benchmark, the NGX All-Share Index, posted a 0.14% surge, elevating from 249,804.56 points to finish at 250,156.80 points—a net increase of 352.24 points. Active participation across trading floors resulted in 574.12 million shares changing hands through 68,506 distinct transactions.
Industry performance reflected broad strength across sectors, spearheaded by a 0.68% advance in the NGX Banking Index. Additional support came from industrial equities rising 0.47%, alongside insurance and consumer goods equities advancing 0.33% and 0.32% respectively. Conversely, energy and Islamic-compliant equities faltered, with the Oil/Gas Index dropping 0.40% and the NGX Lotus Islamic Index retreating 0.44%. Activity volume was dominated by Mutual Benefits Assurance with 53.58 million shares traded, followed by Sterling Financial Holdings Company at 44.23 million, Guaranty Trust Holding Company at 25.85 million, AIICO Insurance at 24.38 million, and Access Holdings at 22.66 million.
Notable gainers during the session were SUNU Assurances, NASCON Allied Industries, Omatek Ventures, and Thomas Wyatt Nigeria, all jumping 10.00% to N3.08, N176.00, N1.32, and N2.53 respectively. Strong appreciation was also recorded by Critical Minerals Financing Corp (+9.80% to N2.24), Fortis Global Insurance (+9.70% to N1.81), UPDC (+9.68% to N3.40), Neimeth International Pharmaceuticals (+8.96% to N7.30), Transnational Corporation (+6.78% to N37.00), and Oando (+4.85% to N35.65). On the losing side, Okomu Oil Palm Company led the downturn with a 10.00% loss to end at N1,276.20, while Custodian Investment dipped 9.13% to N68.15 and Sovereign Trust Insurance sank 8.64% to N2.01. Other stocks that posted price depreciations included Haldane McCall (-8.33% to N3.30), First Holdco (-5.44% to N160.00), Ellah Lakes (-5.39% to N7.90), International Breweries (-3.50% to N9
