The Nigerian stock market closed the week on a negative note on Friday as investors lost N541 billion in market value amid sustained selling pressure.

The market capitalisation, which opened at N162.134 trillion, declined by N541 billion or 0.33 per cent to close at N161.593 trillion.

Similarly, the All-Share Index (ASI) fell by 833.37 points or 0.33 per cent, dropping from 249,710.59 to 248,877.22.

Consequently, the market’s Year-to-Date return erased to 59.93 per cent.

In spite of the negative performance, the market breadth closed positively, recording 29 advancers against 23 decliners.

Champion Breweries and WAPIC led the gainers’ chart by 10 per cent each, settling at N8.80 and N2.20 per share respectively.

Similarly, Honeywell Flour grew by 9.87 per cent, closing at N29.50, Sovereign Trust Insurance advanced by 9.55 per cent, finishing at N1.95 while AXA Mansard gained by 9.26 per cent, ending the session at N11.80 per share.

Conversely, PZ Cussons topped the losers’ chart by 9.94 per cent, finishing at N64.80, ABC Transport followed by 8.06 per cent, settling at N5.70 and Africa Prudential declined by 6.07 per cent, ending the session at N10.05 per share.

Also, Tantalizers dipped by 5.26 per cent, closing at N3.60, and University Press dropped by 5.15 per cent, settling at N4.60 per share.

Trading activity weakened, as total volume declined by 55.90 per cent to 377.66 million shares, valued at N26.87 billion in 32,666 deals.

GTCO led the activity chart, accounting for 41.02 million shares, representing 10.86 per cent of total volume, while its transactions were valued at N4.92 billion, representing 18.32 per cent of the total value traded.

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The one-day event, scheduled for November 28 at the International Conference Centre, University of Ibadan, will bring together entrepreneurs, investors, technology professionals and aspiring business owners.

The festival’s Convener, Mr David Adeleke, disclosed this on Tuesday at a news conference in Ibadan, noting that the initiative had grown from 100 participants at its inception four years ago into a major platform for entrepreneurship and innovation.

He attributed the growth partly to the Oyo State Government’s support and its efforts to position the state as an emerging technology hub.

Adeleke said the 2026 edition would explore how individuals and businesses could leverage AI and other emerging technologies to improve productivity and scale their operations.

He added that the programme would feature masterclasses, fireside chats and startup pitch sessions, alongside a gala and awards night organised in partnership with the state government to recognise startups and individuals developing impactful solutions.

The Senior Special Assistant to Governor Seyi Makinde on ICT, Mr Bayo Akande Jnr., attributed Ibadan’s growing technology ecosystem to investments in critical infrastructure, including fibre-optic connectivity and Independent Power Projects.

Akande called for stronger public-private sector collaboration, noting that government must provide an enabling environment while businesses drive innovation and investment.

He also commended the organisers for choosing to build in Ibadan rather than Lagos, which he described as an increasingly saturated market.

Similarly, the Chief Executive Officer of Cardify and festival partner, Mr Tunde Buremo, said the company deliberately established its headquarters in Ibadan to demonstrate that business success was not dependent on geographical location.

Buremo commended the state government for creating a favourable business environment, describing the festival as a platform for youth empowerment, innovation and sustainable development.

The organisers invited startup founders, investors, students, technology enthusiasts and members of the public to participate in the event, with registration available through the official Ibadan Startup Festival website.

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The Federal Government has reaffirmed its commitment to evidence-based policymaking, effective development planning and results-driven implementation.

The Minister of Budget and Economic Planning, Sen. Atiku Bagudu said this at the 2026 National Association of Evaluators Conference in Abuja on Tuesday.

Bagudu described evaluation as a critical instrument for translating Nigeria’s development ambitions into tangible improvements in citizens’ lives.

He urged stakeholders to ensure that development plans deliver measurable and sustainable results beyond policy formulation.

The minister said this would support Nigeria’s ambition of building a one trillion dollar economy by 2030 and advancing Agenda 2050.

He also stressed the need for effective implementation of the National Development Plan (NDP) 2026–2030.

According to him, achieving these national aspirations requires sustained commitment to implementation and strategic deployment of resources.

He said the Renewed Hope Agenda and other national development priorities required effective institutions, coordinated implementation and clear development outcomes.

“For these interventions to deliver sustainable results, they must reflect local circumstances, complement existing investments and address genuine development needs,” he said.

Bagudu commended the National Association of Evaluators for providing a platform for constructive engagement on evaluation and national development.

He expressed confidence that discussions at the conference would strengthen the country’s capacity to translate development priorities into meaningful and sustainable results.

The minister called for sustained collaboration among stakeholders and citizens to improve development planning and implementation.

He emphasised the importance of accountability and measurable outcomes in strengthening the quality of evidence used in decision-making.

Bagudu said effective evaluation would help ensure that development interventions addressed citizens’ needs and delivered sustainable benefits.

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MTN Nigeria says it has invested N825.7 million in solar deployment and electric vehicle charging infrastructure in the first nine months of 2026, to reduce its dependence on conventional energy sources.

MTN Nigeria said the investment formed part of its broader energy transition programme, which also included the deployment of renewable energy across 24 locations, with an installed capacity of 4.4 megawatts.

This is part of the company’s unaudited financial statements and interim sustainability disclosures for the nine months ended Sept. 30 obtained by our reporter in Benin on Monday.

The document showed that MTN also transitioned nine locations to compressed natural gas-powered independent power plants or energy-as-a-service supply during the period.

Under its fleet electrification programme, the company said it deployed 13 electric vehicles, 80 hybrid vehicles and six CNG-powered vehicles, alongside five electric vehicle charging points.

The company said its energy-efficiency and transition measures helped it avoid an estimated N8.3 billion in diesel expenditure during the nine-month period.

In spite of the investments, renewable energy, however, accounted for only 1.84 per cent of MTN’s total energy consumption during the period, while grid electricity accounted for 11.84 per cent.

The company’s total energy consumption stood at 811,579 gigajoules during the nine months.

MTN’s Scope 1 and Scope 2 greenhouse gas emissions, based on the disclosures, stood at 87,377 tonnes of carbon dioxide equivalent, comprising 42,470 tonnes from direct operations and 44,907 tonnes from purchased electricity.

The company reported that its emissions intensity per subscriber declined to 0.00092 tonnes of carbon dioxide equivalent, from 0.00122 tonnes in its 2024 baseline.

The disclosures also showed that MTN spent N2.3 billion on high-efficiency cooling units and inverter solutions to address heat-related operational risks affecting its infrastructure.

Another N7 billion was invested in Information Technology (IT) and network security infrastructure, while N22.8 billion was recorded as capitalised IT and network security software costs.

MTN said its energy transition efforts were partly driven by the need to manage operating costs and improve the resilience of its telecommunications infrastructure amid energy cost pressures.

According to the report, the company’s operating expenses increased by 8.5 per cent during the nine-month period, while service revenue grew by 23.7 per cent to N4.59 trillion.

The company also said energy-efficiency measures and other cost-management initiatives helped contain the impact of higher diesel-linked tower costs.

The sustainability disclosures, however, noted that the nine-month Scope 3 emissions figures were not presented because the available data had not been fully validated.

The company said the most recent reported Scope 3 emissions figure remained 429,962 tonnes of carbon dioxide equivalent for 2025, pending completion of its annual measurement process for 2026.

It also said that the interim sustainability information had not undergone external assurance, although selected sustainability indicators would be subjected to independent limited assurance in its 2026 annual disclosures.

MTN said it would continue to prioritise energy efficiency, renewable energy deployment and other measures to strengthen operational resilience.

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Google has launched a free digital learning platform enabling Nigerians to acquire Artificial Intelligence (AI) and other digital skills offline.

The initiative targets training three million Africans by 2030, with 250,000 learners expected to graduate by the end of 2026.

The Communications and Public Relations Manager, West Africa, Mr Taiwo Kola-Ogunlade, disclosed this in a statement on Monday.

Managing Director, Google Africa, Mr Alex Okosi, said Africa needed more people equipped to develop, use and innovate with AI technologies.

He said the continent had a significant opportunity to shape the future of AI through improved access to relevant digital skills.

According to him, the initiative would expand access to digital education and enable more Africans to participate in the digital economy.

“The programme is aimed at equipping three million people with digital and AI skills by 2030, with an initial target of 250,000 graduates by the end of 2026,” he said.

Okosi said the initiative built on Google’s previous efforts, through which more than seven million young Africans had completed foundational digital training.

He explained that the platform, Skilling Africa with Google, brought together more than 15 training programmes covering various digital disciplines.

These include artificial intelligence, cybersecurity, cloud computing, data analytics, digital marketing and small business development.

Okosi said the platform was designed to accommodate learners facing limited internet connectivity and expensive mobile data.

“Users can download lessons through Wi-Fi and subsequently access the learning materials offline without incurring additional mobile data costs,” he said.

He added that the platform worked on entry-level smartphones and laptops without requiring users to download a separate application.

The learning hub incorporates Google’s Hustle Academy, which provides training for small business owners.

It also features Google Career Certificates for individuals pursuing careers in data analytics, IT support and cybersecurity.

Google Cloud Skills programmes are equally available to developers seeking to strengthen their technical expertise.

Okosi said the platform also featured SCOUT, an artificial intelligence-powered study companion designed to support learners.

He explained that SCOUT could clarify unfamiliar concepts, answer questions and help users organise their study schedules.

Learners can also monitor their progress and earn verifiable badges upon completing courses, which they can present to prospective employers or clients.

The platform currently supports English, Swahili and Arabic, while additional African languages, including Hausa, are being introduced.

Okosi said the initiative was free and open to students, job seekers, entrepreneurs and developers across Africa.

It was reported that interested learners can access the platform through skillingafrica.withgoogle.com

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Oyedele,​‌‌‍​‍⁠⁠‍‌‌⁠⁠​‌⁠‌‌​ the Minister of Finance and Coordinating Minister of the Economy, disclosed this while briefing State House correspondents after Wednesday’s Federal Executive Council (FEC) meeting in Abuja.

He attributed the improvement to economic reforms introduced by President Bola Tinubu’s administration.

The minister said Nigeria’s economic growth rate increased from 2.74 per cent in May 2023, when the reforms began, to 4.43 per cent in the second quarter of 2026.

He added that economic growth in US dollar terms reached 17 per cent in the first half of 2026, placing Nigeria among the leading contributors to global Gross Domestic Product (GDP) growth.

Oyedele said inflation declined to 14.63 per cent in September from 20.98 per cent a year earlier, following a peak of approximately 34 per cent.

He said the removal of petrol subsidies and foreign exchange market adjustments helped avert a deeper economic crisis.

According to him, subsidy removal in 2023 addressed a longstanding structural problem that had persisted for about five decades, with its benefits beginning to accrue.

Oyedele added that the naira had stabilised, trading between N1,330 and N1,350 to the dollar.

On public finance, he said Nigeria’s tax-to-GDP ratio rose from about seven per cent in 2023 to approximately 12.5 per cent at the end of 2025.

He added that the debt-service-to-revenue ratio declined from nearly 100 per cent to below 60 per cent.

The minister said Federation Account allocations increased by 44 per cent between 2024 and 2025, with the government projecting a further increase of at least 50 per cent in 2026.

He maintained that revenue growth remained significant even after accounting for inflation.

On the social impact of the reforms, Oyedele said more than N372.6 billion had been disbursed to over 1.5 million students through the Nigerian Education Loan Fund (NELFUND).

He added that more than 10 million households had received cash transfers worth over N600 billion, with the government targeting at least 15 million households.

According to him, more than 800,000 micro, small and medium-sized enterprises (MSMEs) had benefited from subsidised single-digit interest loans.

He said low-income earners receiving up to N100,000 monthly were exempted from personal income tax under the tax reforms.

Oyedele added that eligible small businesses with annual turnover not exceeding N100 million were exempted from corporate income tax, Value Added Tax (VAT) and withholding tax, subject to applicable provisions.

He further disclosed that Nigeria’s capital market had expanded from about N30 trillion to more than N160 trillion in three years.

The minister attributed improved international investor confidence to the reforms, citing credit-rating upgrades and positive outlooks from major rating agencies.

On decisions reached at the FEC meeting, Oyedele said the council approved projects targeting electricity supply, transportation, food security and border security.

He listed a 155.9-million-euro credit facility from Deutsche Bank and other lenders to upgrade five electricity substations under the Presidential Power Initiative.

He said the project would improve electricity reliability for households and businesses while helping to reduce energy costs.

The council also considered a $970 million syndicated term loan involving Standard Chartered and the Africa Finance Corporation for rolling stock on the Kano–Maradi railway line.

Oyedele said the investment would improve freight transportation, promote regional trade and reduce logistics costs.

He also announced approvals for non-intrusive inspection scanners, technical support, repairs and maintenance for the Nigeria Customs Service.

According to him, the investments will accelerate cargo clearance and strengthen the detection of contraband and dangerous weapons.

Addressing the external borrowing plan submitted to the National Assembly, Oyedele said its total value was $21.7 billion after converting the euro-denominated component into dollars.

He stressed that the figure represented a borrowing plan, not money already borrowed, adding that the government might not draw down the entire amount.

Oyedele said the projects had an average implementation period of five years and covered transportation, defence, security, health, agriculture, energy, digital infrastructure, finance, MSMEs, social protection, the environment and education.

He said approximately $10.6 billion was earmarked for transportation infrastructure, including the Sokoto–Badagry and Lagos–Calabar highways and the Kano–Kaduna metro rail project.

The minister said about $7.9 billion would come from multilateral and bilateral development partners.

He cited a $5 billion World Bank component, with concessional interest rates averaging 2.1 per cent.

He added that social-sector projects would largely receive concessional financing at average interest rates of about two per cent, while commercial components had an indicative average rate of 7.8 per cent.

The minister said approximately $4.8 billion was intended for subnational governments, the Federal Capital Territory, government agencies and development finance institutions.

He argued that borrowing for productive investments should be assessed by the value of assets and economic benefits created, rather than the amount borrowed alone.

On food security, Oyedele said the Federal Government was adopting a coordinated national approach involving federal, state and local governments.

He said the immediate strategy was to stabilise or reduce prices of essential food items, including rice, yam, beans and maize, in the coming months.

He explained that the government would assess domestic food production and consumption to identify supply gaps and guide import decisions without discouraging local farmers.

The minister said the National Economic Council’s 90-day action plan would support coordinated implementation across the three tiers of government.

He added that the FEC had endorsed the council’s five priority programmes, the national economic policy framework and the national development plan.

Oyedele said the administration remained committed to fiscal discipline, expanding investment and creating decent jobs to improve Nigerians’ living standards.

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