Equity Market Gains N472 Billion Amid NCC’s 50% Tariff Hike Approval

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Lagos, Jan. 21, 2025 – The Nigerian equity market surged by N472 billion, or 0.75%, on Tuesday following the National Communication Commission’s (NCC) approval of a 50% tariff adjustment for telecommunications services, marking the first rate change since 2013.

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Investor optimism in MTN Nigeria and tier-one banking stocks, including Guaranty Trust Holding Company (GTCO), Zenith Bank, and Access Corporation, fueled the market rally.

The NCC’s tariff adjustment, prompted by rising operational costs, grants operators a maximum 50% increase, significantly below the over 100% initially proposed by network providers. The decision, authorized under Section 108 of the Communications Act, 2003, adheres to cost study limits set in 2013.

Following the announcement, the Nigerian Exchange Ltd. (NGX) market capitalisation rose from N62.861 trillion to N63.333 trillion, while the All-Share Index increased by 768 points to close at 103,137.99. The Year-To-Date (YTD) return advanced to 0.21%.

Market breadth remained even with 29 gainers and 29 losers. MTN topped the gainers’ chart, climbing 10% to N256.30 per share, while Secure Electronic Technology Plc led the losers, dropping 9.88% to 73k per share.

Turnover fell by 32.24% from the previous session, with 440.32 million shares worth N11.97 billion traded across 13,087 deals. Lasaco Assurance led in volume, trading 108.04 million shares, while Seplat recorded the highest value at N3.54 billion.

The tariff adjustment and investor response signal evolving market dynamics, with telecom and banking sectors driving growth amid broader economic shifts.


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Peter Anene, Business Editor
Peter Anene, Business Editorhttp://Naija247news.com
Peter Okafor Financial Journalist | Editor | Contributor Peter Okafor is a seasoned Financial Journalist, astute Editor, and valued Contributor at Naija247news Media Group. With an unwavering passion for dissecting complex financial landscapes, Peter has become a trusted name in delivering incisive and insightful coverage of economic events, market trends, and corporate dynamics. Professional Journey Peter's journey in financial journalism has been marked by a commitment to excellence. Joining the ranks of Naija247news, he has consistently demonstrated a keen understanding of the intricate interplay between finance and the global socio-economic fabric. Expertise: Specializing in financial markets, economic analyses, and business developments, Peter Okafor has honed his expertise over the years. His ability to unravel intricate financial narratives and present them in a comprehensible manner sets him apart in the world of financial journalism. Contributions As an Editor and Contributor, Peter has played a pivotal role in shaping the narrative of Naija247news. His contributions extend to thought-provoking articles, in-depth market analyses, and coverage of key events that impact the financial landscape. Educational Background: Peter holds a degree in Journalism, complemented by specialized courses in Finance and Business Reporting. His educational foundation has provided him with the tools to navigate the intricate world of financial journalism. Innovation and Adaptability: In an era of evolving media landscapes, Peter Okafor exemplifies innovation and adaptability. Leveraging digital platforms and emerging technologies, he ensures that financial insights reach a diverse audience, fostering financial literacy and awareness. Awards and Recognition: Peter's commitment to journalistic excellence has not gone unnoticed. He has been the recipient of several awards, recognizing his outstanding contributions to the field of financial journalism. Vision for the Future: Looking ahead, Peter Okafor envisions a future where financial journalism continues to empower individuals, shape economic policies, and drive positive change. His dedication to staying at the forefront of financial news underscores his commitment to this vision. Connect with Peter Okafor: - LinkedIn: [Peter Okafor](#) - Twitter: [@PeterOkafor_N247](#) In the dynamic realm of financial journalism, Peter Okafor stands as a stalwart, combining experience, expertise, and a forward-looking vision to illuminate the path of financial understanding for a global audience.

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