Nigerian equities continue to trade within a narrow range, exhibiting a slight bearish bias as the NGX All-Share Index recorded a modest decline of -0.03% in the previous session.
The market remains subdued, and unless external catalysts emerge, this sideways trend is likely to persist in the near term with limited movement.
Investor focus this week has been on Lafarge Africa Plc, following the announcement that Huaxin Cement plans to acquire a majority stake in the company for USD 1 billion. The acquisition, which is expected to close in 2025, will see Huaxin Cement purchase Holcim Group’s 83.81% stake through its subsidiaries, pending regulatory approval. This deal has sparked increased activity in Lafarge Africa and related sectors, as investors look to capitalize on potential growth opportunities. However, while the transaction is generating short-term interest, the broader market remains cautious, awaiting regulatory clarity and the final execution of the deal.
In parallel, President Bola Ahmed Tinubu outlined his vision to position Nigeria as an industrial and agricultural powerhouse, emphasizing reforms to attract Foreign Direct Investment (FDI). While these measures are expected to contribute to long-term growth, the market may experience short-term hesitation as investors await tangible results from these policy changes.
