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Nigerian Stock Exchange Surges 50% YTD, Valuation Reaches N98.4 Trillion

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As renewed investor demand increased market capitalization by N542 billion in a single session, the Nigerian stock market maintained its bullish momentum at the beginning of the week, extending its year-end surge.

With year-to-date (YTD) returns reaching 50% for the first time since late October, the benchmark index returned to a significant milestone as a result of the advance, which was mostly fueled by positioning ahead of the new year.

The All-Share Index (ASI) closed at 154,389.53 points, up 849.70 points, or 0.55 percent, at the end of trade. Concurrently, the market’s overall capitalization increased to N98.432 trillion, demonstrating the strength of the revitalized confidence that permeates the market despite modest trading volumes.

Strong price growth in a variety of large- and mid-cap equities, especially in the consumer goods and financial services industries, served as the rally’s main driver.

Guinness Nigeria, BUA Foods, UACN, Ecobank Transnational Incorporated (ETI), and Eunisell Interlinked were notable drivers of the day’s gain, indicating a definite preference for fundamentally sound firms as investors adjust portfolios ahead of 2026.

According to market observers, the most recent surge supports the story of a robust Nigerian equities market, which is bolstered by strengthening macroeconomic indicators and careful bargain hunting after periods of profit-taking earlier in the quarter.

United Capital Plc predicts that the market will remain cautiously optimistic in the coming days. The investment firm stated in a note that “the Nigerian equity market is likely to trade cautiously positive this week, supported by steady GDP growth, strong external reserves, and broad-based sector gains.”

“While profit-taking may limit sharp rallies, investors will focus on fundamentally strong stocks in consumer goods, banking, and industrials.”

Wide-ranging Gains Increase Market Sentiment

Gainers just outweighed losses, and the market’s breadth indicated improving mood. In contrast to 37 decliners, 41 equities closed in positive territory, indicating widespread participation as opposed to a rise spearheaded by a few heavyweights.

The top gainers were Austin Laz & Company and Ecobank Transnational Incorporated, which both closed at N3.52 and N41.80 after increasing by the maximum 10%. As fresh interest in mid-cap names continued to pick up steam, Eunisell Interlinked followed closely, gaining by 9.95 percent to close at N96.70 per share.

Peter Obi Decries Power Struggle Amid Worsening Poverty in Nigeria

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Peter Obi, a former presidential candidate for the Labour Party, has bemoaned the fact that Nigerians are living in abject poverty while politicians are occupied with power struggles.

Obi claimed that Nigeria is regressing while other countries are rescuing millions of people from poverty in a post on his verified X handle on Thursday.

According to Obi, the startling figure of over 62% of Nigerians, or 141 million people, living in poverty shows that over half of the country’s population is in appalling circumstances.

A hard reality faces our country as we politicians fight for jobs and control of party structures, frequently exchanging posts even before elections are over.

The number of Nigerians living in poverty increased from 81 million in 2019 to over 139 million in 2025, according to World Bank data. Between 2023 and 2024, the number of Nigerians living in poverty increased by 14 million, from 115 million to 129 million.

According to projections, this number would rise to approximately 141 million in 2026, which means that between 2023 and 2026, an extra 26 million Nigerians will fall into poverty.

These dire predictions are supported by the Nigeria Economic Outlook 2026 report, “Turning Macroeconomic Stability into Sustainable Growth.” A staggering 141 million people, or 62% of the population, are predicted to live in poverty by 2026.

The paper emphasizes that poor real income growth and continuously high living expenses would continue to worsen poverty despite recent attempts at stabilization.

The majority of Nigerians won’t see enough income growth to offset rising expenses. Sustained high prices resulting from energy, logistics, and exchange-rate volatility will continue to be a hardship even though headline inflation may decline.

Because food accounts for up to 70% of their overall consumption, low-income people are particularly exposed to price shocks and food inflation.

Micro, small, and medium-sized businesses that depend on local customers are under tremendous strain as a result of this growing tide of poverty, which also reduces demand and decreases purchasing power. If we don’t see strong job creation, productivity growth, and efficient social safety measures, a persistent rise in poverty might destroy state finances, deplete human capital, and obstruct economic recovery.

“We are on a very different path than countries like Indonesia and India. From 35–40% in 2000 to an astounding 5.3% now, India has substantially decreased extreme poverty. Due to persistent investments in social safety, health care, and education, poverty in Indonesia has decreased from over 30% in 2000 to about 8%.

In the meantime, poverty in Nigeria has increased from roughly 40% in 2000 to a startling 62% now.

Can we accept that a child born in Nigeria today has one of the highest chances of being born into poverty worldwide? The fact that 141 million Nigerians live in poverty is a clear threat to our future as well as a national failing. It’s time to stop being complacent. Macroeconomic stability, investments in agriculture, food supply, logistics, education, health, productivity, and the creation of large-scale jobs are all structural reforms that are now necessary rather than optional, he said.

Former Ghana Finance Minister Held by US Immigration Authorities

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In the midst of ongoing legal issues in his native Ghana, where he is accused of corruption, former Finance Minister Ken Ofori-Atta has been detained by U.S. immigration authorities.
Records from US Immigration and Customs Enforcement (ICE) show that Ofori-Atta, 66, who was Ghana’s finance minister from 2017 to 2024, is being detained at an immigration facility in Virginia.

Ofori-Atta was detained on Tuesday due to concerns about the “status of his current stay in the United States,” according to a statement issued by his legal team on Wednesday. The statement also stated that Ofori-Atta had applied to extend his visa after undergoing medical treatment, including surgery for prostate cancer.

The attorneys stated, “His US legal team is in contact with ICE and expects the matter to be resolved expeditiously,” adding that Ofori-Atta was cooperating fully with the authorities.

Ghanaian authorities officially accused the former minister with corruption in November 2025 after declaring him a fugitive in February of that same year. Ghana has not seen him since January 2025.

The accusations are related to his time under former President Nana Akufo-Addo, when he oversaw crucial discussions with the International Monetary Fund (IMF) and spearheaded contentious tax measures.

When Ofori-Atta might be freed or whether he intends to go back to Ghana to stand trial were not disclosed by the legal team.

Rivers Assembly Moves to Impeach Governor Fubara

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On Thursday, members of the State House of Assembly began the process of impeaching Governor Siminalayi Fubara and his deputy, Ngozi Oduh, which caused another change in the political landscape in Rivers State.

Major Jack, the Majority Leader of the House, formally read the notice outlining accusations of egregious misbehavior against Governor Fubara during a plenary session chaired by Speaker Martins Amaewhule.

26 MPs supported the notice, which charged the governor with allegedly breaking the Nigerian Constitution.

Amaewhule declared that the governor would get the warning within the next seven days.

The notice of accusations and gross misconduct against Deputy Governor Ngozi Oduh was read by Deputy Majority Leader Linda Stewart during the same meeting.

I Have Made Myself Available – Datti Baba-Ahmed Signals Presidential Ambition

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Datti Baba-Ahmed, a former Labour Party (LP) vice presidential candidate from the 2023 general elections, has announced his plans to compete for president in the 2027 general elections.
At a rally at the party’s national secretariat in Abuja, he announced his interest.

Just one week has passed since former presidential candidate Peter Obi declared his intention to leave the Labour Party and join the African Democratic Congress (ADC).

Speaking to party members and supporters, Baba-Ahmed stated that his desire to become president predates the 2023 election and is not reactionary nor reliant on Obi’s political choices.

“I’ve declared my intention to run for office in 2027.” I’m not putting myself in other people’s shoes or following their path.

“May I remind you that I ran for president before His Excellency Governor Peter Obi? “You can view the records,” he remarked.

Concerns regarding the exit of Peter Obi, the party’s 2023 presidential candidate, have been downplayed by the Julius Abure-led Labour Party, which maintains that it is still powerful and able to successfully compete in the general elections of 2027.

According to Abure, “we had laundered the image of our party with several influential people coming to us to say they want to join, and some actually joined.”

“Alex Otti, the governor of Abia State, recently told the world that he joined the party before Peter Obi did, this is true,” he continued.

The LP chairman revealed that Governor Otti had made it apparent that he would not desert with Obi; he saw this as more evidence of the party’s stability.

Abure added, “He also said he was not going to defect with Peter Obi.”

According to reports, Abure made this statement on Wednesday at a party event at the Labour Party’s National Headquarters in Abuja, when fans and party leaders came together to reaffirm their dedication to the program.

Speaking to party supporters, Abure acknowledged Obi’s contribution to the party’s triumph in the 2023 elections but advised against blaming his influence alone for the party’s achievements.

He claims that the Labour Party’s expansion came before Obi joined and was fueled by internal changes and teamwork.

Recounting what happened when Obi defected, Abure disclosed that Datti Baba-Ahmed, the party’s 2023 vice presidential candidate, called him and reiterated his commitment to the party.

“Our Vice-Presidential candidate for the 2023 elections, Dr. Datti Baba-Ahmed, called me the night Peter Obi defected,” he stated.

According to Abure, Baba-Ahmed assured him he would stay in the Labour Party as it was the platform that garnered millions of votes for the 2023 presidential ticket.

“He said he is not leaving the party because it was the platform on which he and the former candidate received 10 million votes from Nigerians, which was reduced to six million votes; we all know what happened,” Abure continued.

He claims that Baba-Ahmed also proposed a reconciliation meeting with senior party members, but then decided that grassroots followers should also attend.

Rivers Crisis May Engulf APC Amid Wike–Fubara Feud, Says Austin Okai

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According to Comrade Austin Okai, a chieftain of the African Democratic Congress (ADC), the conflict between Siminalayi Fubara, the governor of Rivers State, and Nyesom Wike, the minister of the Federal Capital Territory, will destroy the ruling All Progressives Congress (APC).

Wike and Fubara reportedly resumed their confrontation after the Minister pledged to thwart the governor’s attempt to win reelection.

However, several APC leaders support Fubara, who is now a member of the ruling party.

However, Wike advised the party mainstay to avoid getting involved in Rivers State politics, which led to a verbal spat between him and the ruling party’s national leadership.

In an interview with TVC News on Tuesday, Okai forecast that the issue would spread to other regions of the nation.

“Wike attacked the NSA and all of them, not just the APC National Secretary,” he declared. Rivers State has been in the center of the ruling party crisis for more than ten years.

“Unless the president muster political fortitude and calls the FCT Minister to order, what you witness in Rivers will destroy the APC. We don’t know the terms of his arrangement with the president, but he has stated that Rivers State is essential to his political survival.

“Wike is speaking harshly to the President even more than the NSA, the APC National Chairman, and the Chief of Staff. Wike speaks more than the president.

Mixed Reactions Trail Nigerian Army Recruitment Over Security, Welfare Issues

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Applications for the Direct Short Service Commission (DSSC) Course 29/2026 are now being accepted by the Nigerian Army, which is encouraging eligible Nigerians to apply for commissioning as officers.

The Army stated in a statement on its official X handle on Tuesday that both civilians and active military personnel with the necessary professional skills are eligible to apply for the DSSC.

Successful applicants will be commissioned into the Nigerian Army’s specialized corps to assist with national security and defense initiatives.

Deep divisions exist among young Nigerians regarding the offer, according to a survey of their opinions. Many of them cite long-standing concerns about corruption, inadequate equipment, and poor welfare for serving, retired, and fallen personnel—issues that have occasionally sparked protests by impacted families.

Despite these reservations, some young people maintain that they are prepared to serve regardless of the dangers. The 28-year-old Abubakar Haruna stated that although other people’s grievances should be taken into consideration, they shouldn’t deter patriotic service during a crucial period for the nation.

He questioned, “Who will defend the country if everyone declines to enlist in the Army?” “We have to be prepared to protect our nation, our parents, and our lives.” That is what we are ready to do.

In stark contrast, 30-year-old Faisal Muhammad, a recent college graduate, stated that he would only think about enlisting in the military once significant reforms were put into place.

“The government must prioritize the wellbeing of soldiers and supply sufficient equipment. When criminals have more sophisticated weaponry than I have, how do you think I will handle them? We hear soldiers gripe that robbers have better weapons. I don’t have the courage to enroll in such a circumstance, and I doubt my parents would even consent. “Faisal”

In a similar vein, Ibrahim Aminu, who has been unemployed for three years after graduating, declared he would not enlist in the military even though he wanted to see Nigeria’s security issues resolved.

He declared, “Even with the hardship of unemployment, I don’t see myself joining the Army.”

“It seems that the government does not regard the lives of police, troops, security personnel, or anyone else. Neglect is common among retired junior officers. Second, not everyone in society values the sacrifices made by troops; some even view them as collaborators or oppressors. Any motivation is killed by it.

These differing opinions are a reflection of a larger discussion among young Nigerians; some contend that the current security crisis necessitates immediate sacrifice and service, while others claim that significant reforms in the welfare and recruitment procedures of soldiers must occur first.

In response to the discussion, retired senior officer Major Muhammad Bashir Shu’aibu Galma (Rtd.), MNI, stated that the disagreements are typical and shouldn’t be taken seriously.

“It has never been mandatory to join the Nigerian Army,” he stated.

“Many of our peers had no interest in serving in the military even in our time.”

“Those who join with genuine commitment rarely regret their decision,” he said. Additionally, he disregarded statements made by some former officers on social media about their regrets about their years of service, cautioning that such accounts shouldn’t deter prospective candidates.

“A large number of current senior officers, including soldiers, police officers, and paramilitary personnel, are offspring of former security personnel,” he pointed out.

Major Galma did, however, acknowledge shortcomings in the recruitment process, especially political meddling, which he claimed frequently permits unfit applicants to join the armed forces.

“I urge lawmakers to permit the recruitment of only competent and willing candidates,” he stated.

“Many individuals who are coerced into the system either desert after training or turn into security risks, including supporting criminal elements.”

According to some security experts, the government still has time to rebuild young Nigerians’ faith in military duty.

Nigeria is already experiencing a troop shortage, thus new recruitment is required, according to security expert Detective Auwal Durumin Iya.

He stated, “Inadequate manpower affects not just the military but also the police, who cannot effectively secure communities while insurgency persists in forests and border areas.”

No matter how advanced the machinery, it still need skilled workers to operate it. Defending the country against dangers from both the inside and the outside is not the same as policing.

He called on all security services to give welfare reforms top priority.

He declared, “The government must improve welfare, ensure timely salary payments, provide adequate equipment, and care for the health and families of personnel.”

“The state must support officers if they are killed or seriously injured. Young people will be inspired to enlist by this.

The discussion takes place in the midst of deteriorating national security. Just last Sunday, a convoy of Nigerian soldiers at Bindundul village, around 20 kilometers from Kareto in Borno State, struck a landmine and came under fire, killing at least nine of them and injuring several more.

Experts have once again connected the tragedy to the military’s absence of sophisticated bomb-detection technology, which is often utilized in more industrialized nations.

The focus now shifts to how Nigerian youngsters will react as the DSSC application deadline of February 4, 2026 draws near, whether calls for change will trump the need to serve, or whether patriotism would triumph despite the hazards.

After Almost a Year Behind Bars, Niger Frees Ex-Petroleum Minister

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Family members and close acquaintances reported on Tuesday that Mahaman Moustapha Barke, the former minister of petroleum for Niger, had been freed from detention nearly a year after being arrested by the nation’s military rulers.
Barke regained his release earlier in the day, according to a relative who spoke on condition of anonymity for security concerns. According to the Daily Post, a former minister’s assistant independently confirmed the news.

After the coup that overthrew the civilian administration just weeks earlier in 2023, Barke was named petroleum minister by Niger’s new military rulers. Later on, he was taken into custody for reasons that were never made public.

Since the military command has not released a statement on the subject, neither the grounds for his incarceration nor the terms of his release have been made public.

Human rights organizations have consistently criticized Niger’s junta for allegedly suppressing journalists, political rivals, and other dissident voices since seizing control.

In the meantime, Hamadou Tinni was named the new Minister of Petroleum by authorities on Tuesday. He takes over for Sahabi Oumarou, who took over in 2024 after Barke was fired.

Rufai Oseni Attacks Osimhen: ‘What Nonsense Attitude, Are You God?’

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Super Eagles striker Victor Osimhen was chastised by Arise TV presenter Rufai Oseni for his altercation with teammate Ademola Lookman on the field during Nigeria’s 4-0 victory over Mozambique at the 2025 Africa Cup of Nations.
According to reports, Nigeria won the round-of-16 match on Monday night, with Osimhen scoring twice and Lookman and Akor Adams also scoring to guarantee a spot in the quarterfinals.

Lookman missed a chance to score during the second half, which sparked an altercation between the two players.

Other teammates intervened to defuse the tension.

Later, Osimhen motioned to the bench to be removed, and Moses Simon took his position.

During Tuesday’s Arise News Global Sports Update, Oseni shared his thoughts on the event and questioned Osimhen’s motivation.

Lookman has accomplished just as much as Osimhen, he claimed.

“With all due respect, they said that Osimhen wants to travel to Turkey; he ought to go,” he stated. What rubbish? What absurd mindset?

“You have accomplished what Ademola Lookman has.” African Footballer of the Year goes to both of you. Why do you act in this way?

Oseni also demanded disciplinary punishment, saying Osimhen ought to issue an apology before rejoining the team.

“Set down your hands. We can only implement discipline in this manner. He stated that Osimhen should only be permitted to rejoin the team following his apology to his teammate.

He also took issue with Osimhen’s alleged response to the altercation.

“He ought to express regret for abandoning his accreditation and declaring, ‘I’m done, I want to travel to Turkey.'” Oseni stated, “They ought to hire a private jet so he can travel.”

Osimhen is not essential to the team, Rufai Oseni continued.

“Are you Allah? He will realize that you are not essential if they win the Nations Cup behind him, which is what I want to happen. “People were there before you, and now you’re there,” he remarked.

Avoid Wike Scenario — Dele Momodu Raises Alarm Over ADC Aggression

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The leaders of the African Democratic Congress (ADC) have been instructed by former presidential candidate Dele Momodu to impose discipline within the coalition before it is too late.
According to reports, Momodu said that certain groups had brought aggression into the party in a statement posted on his 𝕏 Twitter on Tuesday headlined “My Candid Advice to ADC: Avoid Wike Scenario.”

The seasoned journalist questioned why certain organizations are demanding that a specific candidate receive the ADC presidential ticket.

Dele Momodu claims that the principal organizers of the coalition that approved ADC have pledged to make it an inclusive party that will respect democratic principles.

He emphasized that, unlike the Peoples Democratic Party (PDP), no organization or individual will be permitted to wreak havoc within ADC.

“I was present when some members of Nigeria’s opposition political parties gathered in Abuja last year to adopt ADC as their new vehicle for driving out the ruling APC from power,” the statement stated. I paid close attention to all of the speeches. Nobody compelled anyone to enlist. The principal organizers pledged to maintain democratic principles and make the party accessible to everybody. Discipline will be enforced by ADC, and no individual or group would be permitted to wreak havoc as was the case in PDP.

“Hearing these lovely remarks made me really happy. I was pleased to see General David Mark, an Army veteran, as Chairman because I knew he wouldn’t put up with any crap. However, certain organizations have recently infused a nascent cooperation and collaboration of all with violence and boisterousness. If certain organizations insist on producing the top ticket by donation and coronation without election or persuasion, how can a coalition function? Why act as though one group can win national elections without the others by throwing tantrums and cursing at each other?

For this reason, ADC needs to step up and impose discipline before it’s too late. NYESOM WIKE used this tactic to keep the PDP in check until it was too late to remove or expel them. Instead of being a chaotic Fuji house, ADC ought to be a celebration of love.