Nigeria equities remain vulnerable to further volatility following a pullback from recent highs.
The NGX All Share Index slipped 0.14% last Friday to 109,028.62 points, weighed down by significant declines in consumer services.
Meanwhile, pockets of strength in electronic technology, up 3.43%, producer manufacturing, up 3.04%, and finance, up 1.18%, provided some support, reflecting selective investor appetite despite broad caution.
Market breadth remains relatively negative. Leading the gainers were Presco and Fidelity Bank, while Transcorp Hotels, and Nigerian Breweries lagged. Large-cap names such as BUA Foods, Dangote Cement, and Geregu Power remained largely flat.
Nigeria’s persistent trade imbalance, driven by heavy food imports and underdeveloped agricultural infrastructure, reflects untapped growth potential.
Meanwhile, domestic oil production is recovering, supported by private sector efforts such as Neconde’s ramp-up in Oil Mining Licence (OML) 42, yet chronic underinvestment and facility neglect continue to threaten stability. Against this backdrop, Nigerian equities are expected to remain volatile, with sector-specific opportunities tempered by global headwinds.
