The Weekly Street Note — W31 · 31 Jul 2026

🟢 10 Conviction Buy · 🟡 23 Accumulate · Median score 67.3

Federal intervention in power and manufacturing this week shifted sentiment from crisis to structural repair, a material reprieve for an NGX battered by currency pressure at N1,834 per pound. The government's pledge to deploy 1.56 million meters before year-end while holding electricity tariffs steady—even as generation approaches 5,000 megawatts—eliminates a tail risk that has shadowed the market for months. This clarity allows capital to price stability rather than perpetually hedge for the next shock.

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