First HoldCo stands out as the Nigerian stock market falls
While the NGX ASI fell 1.09% to 1,490.53 points on Tuesday, 7 April 2026, First HoldCo Plc delivered one of the session’s clearest upside moves, rising 9.1% to NGN 54.55. The move mattered not only because it ran against the market, but because it came with NGN 3.19 billion in turnover, placing the stock among the busiest names on a day when 37 stocks declined, against 24 gainers and 87 unchanged.
That outperformance came in a Nigerian market dealing with two powerful macro forces at once: higher oil and a still-fragile currency backdrop. Brent crude added 1.0% on the day to $110.86 a barrel and is up 9.6% over one week, while the dollar traded at NGN 1,379.57, up 0.16%. For Lagos, that combination cuts both ways. Stronger crude supports Nigeria’s export earnings and fiscal backdrop, but it also risks feeding imported inflation, keeping interest rates elevated and tightening financial conditions for consumers and corporates.
Key figures
- First HoldCo: +9.1% to NGN 54.55
- First HoldCo turnover: NGN 3.19bn
- NGX ASI: -1.09% at 1,490.53
- Brent crude: $110.86, up 9.6% on the week
- USD/NGN: 1,379.57, up 0.16%