Category: Nigerian Tribune

The European Union (EU) has reinforced its development cooperation with Nigeria through a ?320.5 billion (pound 190 million) credit line aimed at expanding agricultural financing and supporting climate-smart food production across the country.

The facility, provided by the European Investment Bank (EIB), was announced during a meeting between senior EIB executives and a delegation from Nigeria’s Federal Ministry of Budget and Economic Planning, held on the sidelines of the Global Gateway Forum in Brussels, Belgium.

According to Ms. Thourayya Tricki, the EIB’s Director of International Partnerships, the credit facility underscores the EU’s commitment to Nigeria’s agricultural transformation, particularly in the cocoa and dairy value chains.

She noted that the initiative forms part of broader efforts to drive sustainable, climate-resilient agricultural production and enhance the competitiveness of Nigerian agri-food products.

Tricki, who was joined by Mr. Diedrick Zambon, the EIB’s Head of Sub-Saharan Africa Relations, revealed that the investment package includes both credit lines and technical assistance to Nigerian Development Finance Institutions (DFIs) and commercial banks.

These measures are expected to broaden access to finance for farmers, agribusinesses, and other players in the value chain.

In addition to the new agricultural facility, Nigeria is already benefitting from an pound 18 million Technical Assistance grant to strengthen regulatory capacity for vaccine manufacturing, as well as a pound 50 million credit line to expand local pharmaceutical production.

The Nigerian delegation, comprising Mr. Bolaji Onalaja, Special Assistant to the Minister, and Mr. Benjamin Galadima, Focal Officer for the EU Unit, highlighted ongoing reforms under President Bola Ahmed Tinubu’s Renewed Hope Agenda.

They also discussed the forthcoming National Development Plan (2026-2030) and the Ward-Based Development Programme as vehicles for driving sustainable growth and community-level development.

Representing the Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu, the delegation expressed Nigeria’s appreciation to the Head of the EU Delegation to Nigeria and ECOWAS, Ambassador Gauthier Mignot, for facilitating the country’s participation at the 2025 Global Gateway Forum.

The Global Gateway Forum serves as the EU’s primary platform for translating its Global Gateway Investment Package into tangible partnerships and projects.

It brings together governments, development finance institutions, and private sector stakeholders to advance investments in connectivity, green transition, digital transformation, and human capital development.

In her keynote address, the President of the European Commission, Ursula von der Leyen, reaffirmed the EU’s commitment to building sustainable and mutually beneficial partnerships under the Global Gateway Strategy.

She announced an expansion of the Global Gateway Investment Package to pound 400 billion, alongside the creation of an Investment Hub designed to accelerate project delivery and improve access to finance, particularly across Africa.

Lagos State Government said it has removed over 17 houses for encroachment on the Right of Way (ROW) of the Ikota River alignment in Oral Estate II.

Besides, the state authority over the weekend issued an immediate seal and stop work order for illegal reclamation activities to narrow and reduce the size of the Ikota River around Partibons Homes Estate/Bee – Forth Estate Phase 2 off Orchid Road in Lekki area of the State.

The commissioner for the Environment and Water Resources, Mr. Tokunbo Wahab, gave the directive while speaking with the media after an inspection tour of the area, saying the illegal activities going on in the area is heart wrenching because some individuals have deliberately chosen to destroy the ecosystem provided by nature.

Wahab said the ministry recently received an SOS message that some people were aggressively reclaiming some parts of Ikota river and erecting illegal structures with the aim of selling the illegal properties to unsuspecting / innocent citizens.

He stressed:’ There is no way flash flooding can be stopped in a coastal state, especially one like Lagos that is bordered by the Atlantic, Lagoons and rivers.’

He added that flooding could only be mitigated by putting resilient infrastructure in place alongside various sustainable approaches.

‘This present administration has introduced different approaches in mitigating flooding, some of which include the provision of resilient infrastructure, continuous maintenance of all drainage channels all year round by the Ministry’s EFAG team and construction of secondary collectors/primary channels Statewide,’ he said.

He added some unscrupulous individuals who believe they are above the law are pushing back nature and blocking system 156/ 157, forgetting that these channel are on a coastal alignment which must discharge into the Ikota to further discharge into the Lagoon.

He said discharging of storm water had been designed by nature itself, but human activities have distorted it saying that government will not fold its hands and allow the implication affect the majority.

The commissioner also visited the ongoing restoration of Right of Way along the Ikota River alignment in Oral Estate II, noting that a total of 17 units have been removed so far.

He recalled that government earlier engaged the property owners to find a win-win solution saying that it was necessary to remove the contraventions on the right of way along the Ikota River because the Ikota River is the only channel that supports the Atlantic in the axis.

The Environment Commissioner who was alongside his counterpart in the Ministry of Transportation, Mr Oluwaseun Osiyemi also inspected environmental infraction along the Lekki/Epe expressway in preparation for the forthcoming Green rail line along the Corridor.

He explained that on the 26th of September 2025, abatement notices were served in sync with the Ministry to automobile dealers on the Lekki/Epe Expressway who had totally encroached further on wetlands and under the High Tension wires than the temporary approved site allocated to them, adding that this negates the original master plan for the Green Line by the Ministry of Transportation.

He said the temporary approvals issued to the automobile dealers stated that they are not to erect permanent structures because the site is under the power line, stressing that some of these dealers had pushed beyond the approved site while encroaching on the wetlands.

He reiterated the government’s commitment to preserve the wetlands across the state as wetlands are part of ways to proffer lasting solution to flooding.

‘Wetlands are meant to help you hold the water till rains subsides and after the recent heavy rainfalls, the ministry in the course of flying Drones, realized that virtually the whole wetlands where coconut were planted along Lekki – Epe Expressway Corridor have been seriously bastardized,’ he said.

He said ministry was there to check the infraction levels and how the two ministries can work together to salvage the Wetlands and restore the master plan to accommodate the green line, ordering that enforcement of the law against the infractions begin immediately.

Ask EFCC to provide details of all confiscated virtual, digital assets linked to criminal activities

Chairman, House of Representatives’ Ad-hoc Committee on Economic, Regulatory, and Security Implications of Cryptocurrency Adoption and Point-of-Sale (POS) Operations in Nigeria, Hon. Olufemi Bamisile, on Monday described the ?500 million to ?1 billion capital requirement set by Securities and Exchange Commission (SEC) for Virtual Assets Service Providers (VASPs) as outrageous and prohibitive.

Hon. Bamisile, who made the observation in Abuja during the technical meeting organised for key regulatory and security agencies, noted that while regulation of the cryptocurrency sector is essential, the current capital threshold could stifle innovation, discourage legitimate investors, and exclude emerging entrepreneurs, particularly young Nigerians, who hold the potential to drive economic growth and Nigeria’s digital transformation.

The lawmaker therefore urged SEC authorities to review the capital requirement with a view to make it more accessible and inclusive.

During the session, the Economic and Financial Crimes Commission (EFCC) informed the stakeholders that all confiscated virtual and digital assets linked to criminal activities are currently in its custody.

The Commission disclosed that it maintains dedicated digital wallets across its zonal offices for the safekeeping of such assets.

To this end, Hon. Bamisile directed the Commission to provide comprehensive records of all digital asset confiscations to support its ongoing legislative review and policy recommendations.

Hon. Bamisile reaffirmed the Committee’s commitment to developing a regulatory framework that balances innovation with oversight, safeguards the financial system, and promotes transparency, youth inclusion, and national security in Nigeria’s digital economy.

The Committee, however, expressed displeasure over the failure of several key institutions, including the Office of the National Security Adviser, Central Bank of Nigeria, Nigerian Communications Commission, Federal Inland Revenue Service, Ministry of Finance, and Ministry of Communications, Innovation and Digital Economy, to honour its invitation to the meeting.

Hon. Bamisile also urged all the agencies to take seriously the economic and security implications of the rapidly evolving digital finance sector.

Rivers State governor, Siminalayi Fubara, has appointed Mr Benibo Anabraba, as the new Secretary to the State Government.

He replaces the former SSG, Dr Tammy Danagogo who was appointed in 2023 when Fubara became Governor.

The SSG who hails from Akuku-Toru Local Government Area of the state, same as Danagogo, is the son Chief Ferdinand Anabraba, Chairman of the Rivers Elders Forum and strong ally of the Federal Capital Territory Minister, Nyesom Wike.

Chiefs Anabraba has been very visible in recent efforts to broker the existing peace in Rivers and hosted the last meeting between Governor Fubara, the FCT minister, and some members of the state House of Assembly.

The new SSG is a two-term former member of the Assembly and has also served as a commissioner under Governor Fubara.

The SSG’s appointment was contained in a statement, by Sir Honour Sirawoo, Permanent Secretary, State Ministry Information and Communication.

It was gathered that the decision to drop the former SSG may not be unconnected with his role in the political impasse which rocked the state between late 2023 and early 2025.

Sources said the appointment of Anabraba as the new SSG is intended to further cement the ongoing peace process.

The Holy Books contain several cases of crisis in homes to such dimensions that cannot not be imagined. In the Bible for instance, it is stated in Matthew 10: 36 that ‘a man’s foes shall be they of his own household.’ It is therefore not surprising how it has become normal for children of the same parents not to see eye to eye, to the extent of perpetrating violence against themselves. Domestic violence and crimes of passion are on the increase in the land. It used to be very strange to our culture for a husband to kill his wife or vice versa or for a brother to strike his own sister. The gruesome facts of this case are as reported in FRN v Okeke (2025) 16 NWLR (Pt.2011) 293, being part of the judgment of the Supreme Court of Nigeria as contained in the said law report. This is not peculiar to any gender, tribe or faith but rather a matter that should be regulated by law. There is thus an urgent need for government action that will tame this rising monster.

THE FACTS OF THE CASE

Sometime in October 2011, there was an altercation between the respondent and his sister. Their father, the deceased, who was in his bedroom came out and intervened, preventing an escalation of the argument. In the process, the respondent hit their father on the head with a bottle as a result of which the father sustained injuries. The respondent’s father then went by himself to lodge a report against the respondent at the Police Station. The Police Officer at the Police Station took him to the Teaching Hospital in Abuja. He was treated overnight and discharged. After over two weeks of the incident, the deceased suffered a stroke. He was taken to a private hospital, St. Mary’s Catholic Hospital Abuja, where he was attended to and received treatment until he died on 6th November 2011. Subsequently, the respondent was arraigned before the High Court of the Federal Capital Territory on a charge of culpable homicide punishable with death under section 221 and of the Penal Code. In proof of its case, the appellant called a total of six witnesses and tendered documents marked exhibits A, B, C, D, E, F, G, H, and I respectively in evidence. Among the witnesses called by the appellant were the respondent’s sister with whom he had the altercation and who testified as PW1, the investigating police officer who testified as PW2, and a Medical Doctor who testified as PW4. The Medical Doctor (PW4) tendered and explained exhibit G – the medical certificate of death which expressly stated that the cause of death of the deceased was a stroke and the antecedent cause of the stroke was hypertension. The PW4 surmised that emotional instability caused by an assault on the deceased could be a direct or remote cause of the stroke going by the medical history of the deceased who was a known hypertensive. The respondent testified on his own behalf and did not call any witness. The respondent’s extra-judicial statements were also admitted as exhibits E and I. In exhibits E and I, the respondent stated that during the altercation between him and his sister, he wanted to hit his sister with the bottle, but he mistakenly hit his father on his head.

THE JUDGMENTS

In its judgment, the trial court relied on the evidence adduced and the exhibits tendered, including the extra-judicial statements of the respondent, to hold that the death of the deceased was caused by the respondent who accelerated his death by stabbing him on the face. The trial court convicted the respondent as charged and sentenced him to death. The respondent appealed to the Court of Appeal, which re-evaluated the evidence on record and held that the trial court was wrong when it held that the deceased died as a result of the head injury inflicted on him by the respondent. The Court of Appeal held that based on the evidence on record, the chain of causation was broken, and that the cause of death of the deceased was not proved beyond reasonable doubt as it was not satisfactorily shown to be traceable to the acts of the respondent. Consequently, the Court of Appeal set aside the conviction and sentence of the respondent, and discharged and acquitted him. Dissatisfied with the decision of the Court of Appeal, the appellant appealed to the Supreme Court which in its unanimous decision, dismissed the appeal.

The Burden and Standard of Proof of Murder:

By virtue of sections 135(1), 139(1), and 140 of the Evidence Act 2011, the burden or onus of proof to establish the offence of murder against an accused person lies squarely on the prosecution. In so doing, the extent of proof adduced must be beyond reasonable doubt. Standard of proof in criminal cases means that every ingredient of the offence must be established so as to leave no reasonable doubt of the guilt of an accused person. This applies to the cause of death in homicide cases where the prosecution must prove with certainty the cause of death and that it is as a result of the act of the accused. Thus, in order to establish a case of homicide, it must be proved, not merely that the act of the accused person could have caused the death of the deceased, but that it did.

The Effect of Failure of Prosecution to Discharge Burden of Proof:

Where the prosecution fails to prove a single ingredient of the offence charged, the burden of proof has not been discharged and the accused person will be entitled to an acquittal. In other words, where the evidence placed before a trial court falls short of fulfilling and/or meeting up with the requirements of the law in respect of the burden and standard of proof, then the case of the prosecution must, without any equivocation, collapse and the accused person deserves an acquittal.

The Meaning of ‘causation’ in Criminal Jurisprudence:

Under criminal jurisprudence, the expression ‘causation’ means proximate cause, legal cause, and direct cause. These terms are used synonymously. Under criminal jurisprudence, the terms ‘immediate cause’, ‘effective cause’ and ‘causa causans’ are used to signify the last link or connection in the chain of causation. It is, however, possible that there could be an intervening or supervening cause. And an intervening or supervening cause denotes a cause that comes into active operation arising from negligence or the like, even if that cause does not break the chain of causation. The principle of causation dictates that an event is caused by the act proximate to it, in the absence of which the event would not have happened.

The Need to Link Death of Deceased to Act of Accused Person:

Even if the period between the act and the death of the deceased are proximate, a court can still not find the accused person guilty if there is more than one possible cause of death. What is essential is that there must be evidence that the act of the accused person resulted in the death of the deceased. In this case, exhibit G showed the direct cause of death to be Right Hemispheric CVA, while the antecedent cause was Hypertension. Physical assault was referred to as another contributory condition but not related to the disease or condition that caused death. Thus, from the totality of the evidence, the trial court made the right deductions and made a right decision when it held that the deceased died of Right Hemispheric Celebro Vascular accident, a medical term for stroke and hypertension.

Per SANKEY, J. S. C.:

‘In consequence, the sum total of all the evidence presented to the trial court failed to link the prior injury inflicted on the head of the deceased to the death of the deceased in any way whatsoever. Thus, the best interpretation that can be given to the medical evidence is that the cause of death of the deceased was a stroke arising from a history of hypertension. Hence, from the incident when the respondent hit the deceased with a bottle on his head, mistakenly or not, to his bout of hypertension and stroke, the chain of causation was broken.’

AREMZO IS GONE!

I seek your kind permission as you draw the curtain on the first part of this piece to share my deep grief on the loss of one of the finest activists that I have met and worked with, Comrade Abiodun Aremu. Courageous, detribalised and ever faithful, Aremzo was the epitome of our collective struggle within the labour and civil society coalition. Like Comrades Chima Ubani and my dear friend Comrade Bamidele Aturu, Aremzo gave his all to the cause of the masses, working as a foot soldier in mass mobilisation, operating as a terror to the oppressor and living as a friend of the downtrodden. My heart has been very heavy since I got to know of this painful demise early Monday morning on October 13, 2025. Rest in power, my dear Comrade Fidelista Abiodun Aremu, assured that your struggles will not be in vain.

The Federal Government, through the Federal Department of Agricultural Extension Services, Ministry of Agriculture and Food Security has supported farmers in Oyo State with training and empowerment on cassava cultivation and processing.

The two-day training, held at the Federal Ministry of Agriculture and Food security state office, Moor Plantation, Ibadan. Participants, were trained on series of approach to getting good yield, ranging from fertiliser application, soil testing among others.

Speaking with journalists on the sidelines of the training session, Director, Federal Department of Agricultural Extension Services in the ministry, Mr Ayodele Olawunmi, who was represented by a Principal Agric Officer, Mrs Temitope Banjo, said the aim and objectives of the training were working towards food security and sustainable agriculture as well as the Renewed Hope agenda of President Bola Ahmed Tinubu.

‘The empowerment programme is to upgrade farmers’ knowledge about cassava production and processing in Oyo State. Oyo State is one of the prominent cassava producers in the country, so it is very important to come to Oyo State when we talk of Cassava because the state contribute a lot to cassava production in Nigeria.

‘And the whole process is exposing them more to the necessary skills in processing and to reduce usage of chemicals in the processing of cassava. Some people process their cassava, especially when they want to use it to make fufu with detergent and some other chemicals.

‘This training is meant to tell them that they must not add chemicals to cassava when processing it because it is very dangerous to human health. What we are promoting is food security with nutrition, it is not food security with damaging of our health. Nutrition is one of the important aspects of food security, so the two have to go together.’

The Oyo State Coordinator, Federal Ministry of Agriculture and Food security, Mr Adetunji Samson, represented on the occasion by Chief Agric Supritendent, Mr Adefesobi Oluwatoyin, called on participants at the training to make good use of all that they have learnt during the course of the training and extend same to their fellow farmers who could not attend the programme.

At the end of the training, each of the farmers was given a knapsack sprayer in order to boost their farm work.

Mr. Olufemi Oyedele, is a built environment professional and affordable housing advocate. In this interview with DAYO AYEYEMI, the astute estate surveyor and valuer, took a critical look at the Nigeria ‘s housing sector since independence, itemized some of the challenges, and suggested way out of the wood.

What is your assessment as Nigeria clocks 65 years of nationhood?

Yes, Nigeria’s 65th Independent Anniversary is here again and in a twinkle of an eye, the 66th anniversary will be here.

The housing sector in my own assessment has performed abysmally low in the last 65 years. Though we have adequate resources to achieve ‘adequate housing’, we lack ‘the will’ and the institutional and organisational capacity to be self-sufficient in housing. The government has refused to adequately organise the people to be able to house themselves and adequate housing remains a mirage despite our 65 years of independence. In many quarters, the question arose that would it not have been a better story in our housing strides if the colonial masters were still in charge? There are a lot of things we can do better to change our housing narratives. The housing sector is still unorganised, underfunded, corruption-ladden, unprofessional, under-productive and lacking direction.

Nigerians have not been properly housed. About 60 per cent of Nigerians live in slums! These are self-help abode that people manage to remain hopeful. They manage this squalid settlements and inadequate quality houses with the hope that tomorrow will be better. Some of them have lost hope in a better future due to their past experiences despite the fact that the 1999 constitution of the Federal Republic of Nigeria in Chapter 4 claims that housing is a right of all citizens.

What are major achievements?

The major achievements in the housing sector and notable challenges in recent time are the Renewed Hope Housing Programme which ‘aim is to address the nation’s housing deficit by providing affordable, decent and dignified accommodation for citizens, particularly low-income and vulnerable groups.’ If the government can achieve this aim, it will go a long way to ameliorate the housing sufferings of the people. The building materials hubs planned to be located in the six geographical zones of Nigeria and in which one is already set for the Lekki Free Trade Zone is also laudable achievement.

What are the challenges?

Notable challenges in our housing sector include the incessant building collapses which seems to be reducing the housing stock and the credibility of our builders; the demolition of buildings which is an economic waste among a people that is lacking; high cost of building materials, which is majorly due to over-dependence on the traditional method of construction and low level of titling which creates dead capital in the untitled lands.

The government of the day is not living up to expectations in the housing sector considering the huge housing deficit which experts claim is now in the region of 28 million. There are things the government (federal, state and local) can do separately to achieve housing adequacy.

What are the solutions?

The solutions to the challenges in the housing sector include first, evolving a housing culture for Nigeria though a formal forum. Housing cannot continue to be delivered haphazardly as it is currently being done. Secondly, we need an organ of the Federal Government that will be in charge of coordinating the housing efforts of the three tiers of government in Nigeria. There is a wide disparity between the prices of building materials and what the customers are willing to pay. Thirdly, there must be intensified efforts of governments to provide social housing for the poor and vulnerable in the society. This class of people cannot adequately house themselves.

Renowned Nigerian journalist, Dr Reuben Abati, is set to present three new books exploring politics, society, and personal reflections.

The public presentation and official launch, organised by Caltop Publications Nigeria Limited, will take place on Friday, November 7, 2025, at the Nigerian Institute of International Affairs (NIIA), Victoria Island, Lagos.

The books to be unveiled are Portraits: People, Politics and Society, A Love Letter and Other Stories, and How Goodluck Jonathan Became President.

Speaking on the publication, Ayo Arowosegbe, Managing Director of Caltop Publications, described the books as compelling and insightful.

‘Compelling, insightful, and relevant for our times. These works will serve as vital references for policymakers, media professionals, academics, students, and the public seeking informed perspectives on Nigeria and the world at large.’

The event is expected to attract dignitaries from government, academia, the private sector, the media, and the literary community in celebration of Dr Abati’s remarkable contributions to journalism, literature, and civic engagement.

Coinciding with his 60th birthday, the occasion will also provide an opportunity to reflect on the life and career of a media icon who has remained steadfast in his commitment to national development.

Dr Reuben Abati, a distinguished journalist, columnist, and writer, previously served as Special Adviser on Media and Publicity to former President Goodluck Jonathan, GCFR, and was Chairman of the Editorial Board of The Guardian Newspapers.

Elevators are small, shared spaces we often find ourselves in. They save us time, but also come with unspoken rules that make the ride smooth for everyone. These simple habits show respect for others and create order in an enclosed space.

Whether you’re going to the office or staying in a hotel, you should learn proper elevator etiquette rules to make the ride less tense or uncomfortable.

Here are seven of these rules you should know.

1. Wait before entering

One of the most important elevator etiquette rules is waiting for people to step out before you go in. You could cause confusion and physical clashes if you rush in while others are trying to exit.

What should you do instead? Stand by the door while giving space, of course and enter when your path is clear.

2. Stand away from the door

After entering the elevator, avoid standing in the way. You could either move to the back or to the side so that others can easily come in.

If you stand directly at the entrance, it could make the ride an uneasy one for you and those who are trying to enter.

3. Respect personal space

So, you know that elevators are often tight, right? Well, respecting personal boundaries is still possible in such a tight space.

If the elevator is less crowded, you should avoid standing too close to someone. If it’s full, stand properly without leaning on or pushing others

Respecting personal space is one of the simplest elevator etiquette rules that makes everyone more comfortable.

4. Reduce noise

Avoid loud conversations, phone calls, or laughter in the elevator because it’s a confined space and sound can feel amplified.

If you can’t avoid conversations, keep your voice low. That way, people don’t get to listen to private conversations, and everyone can maintain a peaceful environment during the brief ride.

5. Tame your belongings

A large hand luggage can take up more space than necessary. If you’re carrying a heavy bag, hold it close to your body or place it on the floor beside you.

This elevator etiquette rule is important because it prevents accidents and ensures that other people have enough room to stand.

6. Use buttons considerably

While pressing the elevator buttons, do it considerately. Don’t joke around by pressing multiple floors as a joke. If someone asks you to help them with the floor they are going to, you can help them with the button if you’re close.

7. Be proactive yet calm

When you reach your floor, step out quickly so that others can continue their journey. Don’t wait around to finish a conversation or look for directions.

If it’s not your turn to leave and you’re close to the door, step out briefly for others to leave and enter again if necessary.

This elevator etiquette rule is very practical.

Next time you enter an elevator, remember that these simple habits can help you turn a ride in a tight space into a smoother and better experience.

The Nigerian equities market ended Tuesday’s session on a cautious note as profit-taking in banking and oil and gas stocks offset gains in the industrial and insurance sectors, leaving the overall market performance largely unchanged.

The NGX All-Share Index slipped marginally by 0.004 percent to close at 147,710.96 basis points, while market capitalization shed N3.99 billion naira to settle at N93.76 trillion.

The month-to-date and year-to-date returns stood at 3.05 percent and 43.05 percent, respectively, reflecting sustained investor optimism despite intermittent pullbacks.

Market sentiment remained negative, as 35 stocks declined compared to 23 gainers, translating to a market breadth of 0.7×.

Austin Laz which fell by 7.9 percent and Deap Capital which dropped 6.,7 percent led the losers’ chart, while Regal Insurance and Prestige Assurance topped the gainers’ list.

Sectoral performance mirrored the cautious mood, with three of the five major indices closing positive.

The Insurance index led gainers with a 1.01percent rise, driven by renewed interest in Regal Insurance which gained 8.8 percent and Prestige Assurance which appreciated by 6.7 percent. The Industrial Goods and Consumer Goods indices also advanced by 0.30 percent and 0.10 percent respectively, buoyed by gains in BUA Cement which rose by 0.06 percent and International Breweries which climbed 3.6 percent.

On the flip side, the Banking sector dipped by 0.37 percent as selloffs in United Bank for Africa which lost 1.2 percent dragged the index lower, while the Oil and Gas sector weakened by 0.09. The Commodity index closed flat.

Market activity showed a mixed pattern as total traded volume fell by 20.73 percent to 495.10 million units, while the total number of deals declined by 18.75 percent to 25,645. However, transaction value rose sharply by 28.71 percent to N17.34 billion, indicating a shift toward high-value trades.

Fidelity Bank emerged as the most traded stock by volume with 50.90 million shares, while MTN Nigeria dominated in value terms with N2.46 billion naira worth of transactions.

It is noted that the market’s sideways movement reflects cautious trading ahead of upcoming third-quarter earnings releases. Analysts, however, expect bargain-hunting in fundamentally sound stocks to support a mild rebound in subsequent sessions.