{
  "id": 5392474,
  "title": "Seplat surges 10% as Nigerian stocks gain N238 billion despite wider sell-off",
  "url": "https://urgent.news/2026/09/03/seplat-surges-10-as-nigerian-stocks-gain-n238-billion-despite-wider",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-03T19:01:40.000Z",
  "source": {
    "name": "Nairametrics",
    "slug": "nairametrics",
    "url": "https://nairametrics.com/2026/09/03/seplat-surges-10-as-nigerian-stocks-gain-n238-billion-despite-wider-sell-off/"
  },
  "original_language": "en",
  "account": null,
  "summary": "On Thursday, September 3, 2026, the Nigerian equities market experienced a resurgence, with the NGX All-Share Index (ASI) closing at 246,388.22 points, marking a 0.15% increase from the previous session's 246,019.17 points. The surge was primarily driven by strong performance in Seplat Energy and the broader Oil & Gas sector, despite a significant loss reported by Aradel Holdings. The market capitalization rose to N159.15 trillion from N158.91 trillion, resulting in an additional N238.37 billion in investor wealth and strengthening the market's year-to-date return to 58.33%. Despite this headline gain, investor sentiment remained cautious, with more losers than gainers, indicating that the market advance was driven by a few strong performers rather than widespread buying. Seplat Energy led the market's gains, surging by 10% to close at N13,552.60, extending a strong performance over the past week that has been fueled by Tony Elumelu's increasing stake in the company and sustained investor interest in the oil and gas major.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}