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Investors Gain N1.18trn WoW as Stock Market Sustains Positive  Momentum 

Investors Gain N1.18trn WoW as Stock Market Sustains Positive  Momentum 

Kayode Tokede 

The Nigerian stock market sustained its positive streak for the fourth consecutive week, gaining N1.18 trillion, underpinned by broad-based sectoral gains.

The Nigerian Exchange Limited All-Share Index (NGX ASI) gained 1.02 per cent week-on-week (WoW) to close at 143,584.04 basis points, buoyed by renewed investor appetite for fundamentally strong stocks.

Market capitalisation appreciated by 1.31 per cent or N1.18 trillion WoW to close the week at N91.135 trillion, driven in part by the listing of 14.14 billion ordinary shares of Wema Bank Plc on September 30, 2025.

Market breadth closed strong, with 53 gainers against 43 decliners. Eterna led the gainers table by 32.80 per cent to close at N37.05, per share. Nigerian Enamelware followed with a gain of 20.94 per cent to close at N42.45, while PZ Cussons Nigeria went up by 20.87 per cent to close to N41.70, per share.

On the other side, Julius Berger Nigeria led the decliners table by 17.79 per cent to close at N122.90, per share. International Energy Insurance followed with a loss of 11.08 per cent to close at N2.97, while Union Dicon Salt declined by 10 per cent to close at N8.10, per share.

Overall, a total turnover of 8.403 billion shares worth N115.501 billion in 115,801 deals was traded last week by investors on the floor of the Exchange, in contrast to a total of 7.684 billion shares valued at N494.126 billion that exchanged hands prior week in 116,645 deals.

On market’s performance this week, Cowry Asset Management Limited said, “we expect the Nigerian equities market to maintain its bullish momentum in the near term, driven by sustained investor appetite for fundamentally strong stocks and portfolio rebalancing ahead of Q3 2025 reporting and earnings season.

“Although intermittent profit-taking and fewer block trades could result in mixed activity, the robust year-to-date performance, broad-based sectoral gains, and rising retail participation continue to underpin market stability. Meanwhile, we continue to advise investors to position in stocks with strong fundamentals and earning power.”

Imperial Assets stated that, “this week, at the equity market, we expect activities to remain mixed, largely dictated by bargain hunting acts ahead of Q3 2025 earnings releases. Meanwhile, tendency for profit taking acts to come up looms high, amid the recorded six trading days consecutive winning performance.”

Analysts at Afrinvest Limited noted that, ‘looking ahead, we anticipate the bourse sustaining its positive momentum as investors digest earnings results and rotate into stocks trading at compelling valuations.’

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Kayode Tokede  The Nigerian stock market sustained its positive streak for the fourth consecutive week, gaining N1.18 trillion, underpinned by broad-based sectoral gains. The Nigerian Exchange Limited All-Share Index (NGX ASI) gained 1.02 per cent week-on-week (WoW) to close at 143,584.04 basis points,

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2027: Muslim Scholars, Clerics, Traditional Rulers Converge on Kwara to Reposition Mosques, Imams for Nation’s Leadership

2027: Muslim Scholars, Clerics, Traditional Rulers Converge on Kwara to Reposition Mosques, Imams for Nation’s Leadership

Hammed Shittu in Ilorin 

Ahead of 2027, renowned scholars, imams, traditional rulers, students and Muslims from different parts of the country have called for a unified Friday sermon across central mosques.

This, they believe, when properly utilised, mosques could once again produce pious leaders and scholars as they did in the early history of Islam.

The scholars, Imams and other Muslim leaders stated this at a one-day second annual Imam’s Conference held in Ajase Ipo, Irepodun local government area of Kwara state over the weekend with the theme; “The Mosque, the Imam and Da’wah, organised by Daarus-Sa’aadah Islamic Centre.

In his lecture on “The Role of the Mosque in Building the Ideal Muslim”, renowned Islamic scholar, Ustadh Dhikrullahi Shafii, said that the mosque is not limited to being a place of prayer.

According to him, Masjid is historically a centre for decision-making, social welfare, refuge, including treatment of the sick.

He said that the three aspects of the theme had been largely neglected in contemporary Muslim communities, with negative consequences for the Ummah.

He described the Imam as the principal of the mosque whose role goes beyond delivering stories.

“Rather, it requires deep grounding in Qur’an, Hadith, Fiqh and global issues”, Shafii who is the Grand Mufti of the Organization of Islamic Conference (OIC), said.

He emphasised that no single individual could master all branches of Islamic jurisprudence and, thus, advised Imams and scholars to specialise in particular fields while working together for the benefit of the community.

The mosque, he noted, must be repositioned to serve the Ummah fully, including the creation of committees to address the needs of children, women, the aged, marriage, naming ceremonies and conflict resolution.

He said when properly utilised, mosques could once again produce pious leaders and scholars as they did in the early history of Islam.

Shafii also recommended that the conference should be extended to two or three days in order to deepen its impact, with a communiqué issued and adopted by mosques across the state for implementation.

In his presentation on “Da’wah without Bitterness: Etiquette of Disagreement in Islam”, Dr. Sirajudeen Bila Al-Asra, underscored the importance of tolerance and humility in preaching.

He urged scholars and preachers to embody patience and wisdom in resolving disputes, stressing that Islam does not condone bitterness or arrogance in its propagation.

The Chief Imam of Ajase-Ipo, Shaykh Aliyu Taofeeq Atoloye, who chaired the occasion, said the programme had continued to impact positively on the intellectual and spiritual growth of Imams and scholars.

He described this year’s theme as timely and noted that participants benefited from the exchange of ideas on how mosques could be harnessed for more than just daily and weekly prayers.

He added that the conference provided an opportunity for networking among Islamic scholars across the country.

The monarch called for extension of the programme to three days in order to maximise its benefits, and described it as a blessed exercise that would leave a lasting impact on both scholars and their followers.

Founder and sponsor of the programme, Alhaja Rahmat Mojisola Salih, a Lagos-based businesswoman, recalled how her journey into philanthropy was inspired by her grandmother, who taught her the value of dedicating part of her daily earnings to the service of the mosque.

She narrated how, as a child, she spent a portion of her profit from hawking bread and other items to buy items for cleaning the mosque.

According to her, that early training shaped her conviction to dedicate her wealth to the promotion of Islam and the welfare of society.

She urged other wealthy individuals to emulate the gesture towards promoting Islam.

Governor AbdulRahman AbdulRazaq, in his goodwill message, described the event as highly educative.

He appreciated the organisers for championing a noble cause aimed at equipping Imams and scholars with deeper religious knowledge for the advancement of Islam.

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Ahead of 2027, renowned scholars, imams, traditional rulers, students and Muslims from different parts of the country have called for a unified Friday sermon across central mosques. This, they believe,