That was mainly for foreign investors. Trust me, its a big deal for foreign investors - If there is no trust in the judicial system, then their investments are not protected. If you look at any strategic analysis performed by these global corporations, you'll see qualitative factors like this in there eg bribery and corruption index, etc
I see where you are coming from. Companies leaving, insecurity, and poor legal systems are serious issues. However, refined fuel products are Nigeria's largest expense, draining foreign exchange reserves and hurting the economy. With local refineries coming online soon and the potential to even earn foreign exchange, Nigeria is poised to see significant improvements.
I haven't delved into the details yet, but that will be my next project - analyzing how much Nigeria stands to save in foreign exchange and the potential impact on the economy.
I agree with your analysis on inflation but not on positive sentiments. The exit of large global corporations from the country is one big negative, no improvement of the security situation and distrust in the judiciary are serious negatives for any sentiment analysis performed by anyone and there has not been serious efforts to reform the country so I disagree. In my organisation here in the UK, we downgraded Nigeria this year in comparison to other african countries when looking at possible emerging market investment destinations.
I suppose one other factor driving investment in the stock market is the fall of the naira which has seen most financial institutions post massive forex gains and profits, providing the opportunity for short term profit hunters to take advantage of that value. I foresee a retraction post April 2024 except, inflation continues to rise and the naira continues to fall at rapid speed.
In OGGs voice, you need to upgrade your techniques.
But seriously, what has happened and is currently happening in the market can be explained by macroeconomics, not just by looking at volumes of charts. I see two key factors: the massive waves of inflation and the positive sentiment surrounding the current administration.
Inflation has repriced most businesses. You may not understand this if you are a civil servant or salary earner. For example, if you used to buy your inventory at 10 naira but now buy at 17 naira, you should also increase retail prices to absorb the increased costs, including higher living expenses. Hence, I expect increased revenue going forward. Savvy investors understand this dynamic, which is reflected in current prices.
Secondly, with the new administration and upcoming refineries, the Nigerian economy looks promising.
I added a small chart showing overall performance on the NGX from May 2020 to yesterday. It indicates the number of stocks moving at least 10% up or down each month, along with total value traded.
Regarding total values, some may argue it represents money leaving the market, while others say it is new money entering. I would say it depends on the ratio of gainers to losers in that period. Let's discuss this point.
Since 2023-05, about 1.62 trillion naira (1.35 billion USD at 1200 exchange rate) entered the market in just 9 months. Do you think this much money is manipulation that can easily be extracted?
Does technical analysis actually work for Nigerian stocks? The pullback strategy is often very effective in liquid markets especially if built into a robot but one cant say about Naija.
ositadima1: I am looking at a trading strategy that I am calling the "Second Missionary Journey" or SMJ for short . It requires at least two moving averages (MAs), the 10-period and 20-period MAs. We are looking for stocks that have moved sharply upwards, in technical terms they have maintained their closing above the 10-period MA. We want them to have made at least 40% since they started. Next, we wait for a sharp pullback. Very often, it will crash below the 20-period MA. We want to enter when it crosses both the 10- and 20-period MAs and the 10-MA is above the 20-MA and looking up. We can enter earlier in some cases if we are confident in the stock.
If we did our homework well, we should be riding the stock as long as it maintains above the 10-period MA. If we made some good gains, we can consider selling half our position and use the 10-period MA as a trailing stop for the remaining half. You can add other things to improve accuracy. A lot of stocks I tested conform to this behavior.
Be aware that this strategy is not foolproof and that you could lose money.
They all have where they are chopping the company dry. Declaring good profit or dividend is not their priority
Audited one of these listed companies some years ago and I just shook my head in pity for retail investors. The main shareholder would have cashed out like 20 - 30% of profits before declaring dividends. In that particular audit, N350m was paid as consultancy fees to the ultimate parent while N1b was declared as dividend that year The corporate governance culture in our listed companies is still very poor. Just check the professional and consultancy fees section of the latest financial statements of some of these listed companies and see how overbloated they are - Thats the cash out line for them.
Muslims use the remotest language possible to describe Allah. They try to make him as transcendent as possible in order to discourage people from conducting research on him. If you ask a Muslim to define Allah, he will just beat about the bush, ascribing attributes to him that neither belong to him nor befit him. But Allah is not as mysterious as Islam would like the world to believe. He has been at the Kaaba stone all along. Certainly, Christians have not prayed enough to displace him and we may never do so until he meets his doom in the valley of Megiddo. Some say that the word Allah was or is derived from the Syriac Alaha. But the name Allah was in existence long before Islam. That is evidenced from the name Abdullah (meaning servant of Allah) the name of Muhammad's father. The question is this: To whom was this name originally revealed? Certainly none of the Biblical prophets ever referred to it. There is absolutely no trace of that name in the Bible. It is Arabic, not Israelite. But in the mind of Islamic scholars, anything (negative or positive) done to further the cause of Islam is justifiable, so they can lie and claim that the name of allah was revealed to Adam, Abraham or even Ishmael. Lies can be told about those patriarchs because they have been dead a long time and aren't around to refute any false claims. And they never leave Abraham alone. In pre-Islamic Arabia, that Muslims now refer to as Al-Jahiliya, meaning a period of ignorance, the Arabians were grossly paganistic. In and around Kaaba, the Arabs worshiped 360 idols. Each clan had their own particular idols to worship. It is provable that Allah was one of the 360 idols that Muhammad's Hashimite clan worshiped. Muhammad's grandfather, Abdul Muttalib, was the leader of Mecca and a custodian of Kaaba's 360 idols. The Koran confirms that he was a pagan. The names that Muhammad grandfather gave his children are further proof that Muhammad was from a family of idol devotees. Muhammads father was named Abdullah, meaning servant of Allah. The name of Muhammad's uncle was Abdul Manaf, meaning servant of Manaf. His other name was Abu Talib, meaning father of Talib. This is indisputable proof that Allah and Manaf were clannish idols worshiped by Muhammad and his people. Islamic scholars try to hide the historic fact that Muhammad worshiped idols before and after he claimed to be a prophet. But they canít do away with the record of the Koran itself. That Muhammad was later fascinated by the monotheistic creed of jews and Nestorian Christians is beyond question. He encountered many of them at Mecca and on his business trips to Syria. His wife, Khadija, was a Catholic, as was Waraqa ibn Naufal, his secret tutor. Now, Muhammad wanted to unite the Arab race under a theocratic setting, but there was no way he could carry along all those 360 idols, so Muhammad decided to pick from among the idols of his clan. Naturally he picked Allah, the idol for which his father was named. Any of the idols would have served; an idol is an idol. It is the demon behind an idol that deceives the mind and heart. Those who try to single out Allah and deify him above the other Meccan idols should remember that Muhammad could just as easily have picked Manaf, Al-Lat, Al-Uzza, or any of the others; and his choice didn't win the support of everyone, including his uncle, Abdul Manaf. That is clear from the fact that Abdul didn't submit to Allah and Islam until his death. He held on to Manaf. This elevation of one idol over the other 359 angered the other Meccan clans. The purported persecution of Muhammad was nothing but an inter-tribal or inter-clannish quarrel over whose idol should be or whose should not be venerated. In the same vein, the Koran was written in Muhammad's dialect (Quraish). To pacify the other tribes, Muhammad told them (with concocted revelations) that the preserved tablet in heaven was written in Quraish. The world was then asked to swallow the Islamic lie that all the Kaaba idols were destroyed. It just isn't true. About four of those idols are said to remain. The custodians of Kaaba should open the stone to independent inspectors should anyone dispute this. Just as Islam led 1.2 billion Muslims and even some ignorant Christians to believe that Jesus is Isa or Esau, so it has tried to make the world believe that Allah is God. But there is no link between Allah and the Bible God, who revealed His name to be Yahweh, or the I AM. Websters New Collegiate Dictionary calls the name of the true God a Tetragrammaton, which means that it is made up of four letters. Those Hebrew letters are transliterated YHWH or JHVH. They are usually pronounced Yahweh or Jehovah. Yahweh means the I AM. That name defines G-ds eternal being and divine nature: The only true, almighty, personal, holy God, and ìthe Father of spirits (Numbers 16:22, cf. John 4:24), The God who revealed Himself to His people, made a covenant with them, became their law giver, to Whom all honor and worship is due. If God's name was really Allah, why didnít He give that name to the prophet Moses or to any of the other Old Testament prophets? Why didn't Jesus ever hint that God might have a name different than the one already revealed to the prophets? The Supreme Being is eternal isn't He? If God is without beginning or end, isn't His name also eternal and unchanging? Of course, but if the Koran is correct, then nobody knew God's name before Muhammad, and God didn't know what He was talking about when He told Moses that His name was I AM that I AM. It was at the burning bush that God revealed Himself to Moses as the I AM (Exodus 3:14). I AM portrays His eternal existence, with no beginning and no end. He is the only eternal God, there is no other. There is no room for any usurper idol, no matter what he calls himself. The name Allah does not belong to the true God, but to an Arabian idol. But there is more. When Jesus called Himself I AM in John 8:58, He said in effect that He is the same I AM who spoke to Moses at the burning bush. The Jews understood exactly what Jesus meant, and tried to stone Him for it (John 8:59). They knew that Jesus was declaring Himself to be the final, perfect and practical revelation of true God. The prophet Isaiah knew it, too, when he called Jesus Emanuel, meaning God with us. This is not polytheism, God the Father and Jesus His Son are one Being, one essence. Jesus said: John 10:30 I and My Father are One.
chatinent: It irks me to realize my weak carpenter grandfather in the village who buys trees and turns them into logs, then to chairs used for public schools will have to be paying taxes...after he pays taxes indirectly by buying the trees, transporting himself, buying machines, buying fuel, paying rents, and feeding.
In another news, after Ndubuisi gets a car for Uber on hire-purchase, after he pays taxes buying fuel, buying tickets, bribing soldiers and policemen on the road, evading accidents, and dodging more portholes than roads...he will still have to pay the extra taxes for bearing the appellation of being a taxi driver. However, those having about fifty cars for entourage alone are called senior citizens.
In saner climes, the rich understand that he pays more taxes because of more assets. In Nigeria, the rich rejoices that the poor augments their assets with their taxes.
Welcome to a country that releases budgets every year but doesn't balance accounts after the financial year.
Welcome to the Fraudral Republic of Nigeria.
It should not irk you my dear. If he is making profits over the annual tax free income in Nigeria, then he should be paying tax. Thats how its done all over the world. Its only in Nigeria where only working class people pay tax whereas most of the wealth is in the hands of self employed entrepreneurs and contractors.
Konpresor012: In 2006, Obi Cubana started his first club *Ibiza Club in Abuja*
Where did he get the funding from to open and run his first club. setting up clubs is usually one of the ways money launderers layer illegal funds into the economy before setting up legitimate businesses and then claiming to have made money through struggling. Its possible that he may still be laundering funds through his many clubs and leisure houses. I am a compliance and anti-money laundry expert so I know exactly how these things work. Selling of cars and real estate is another sweet business for laundering illegal funds.
shawnmich: I can't paste the guys number here....you know it's confidential. Maybe I can send it to your email address. You need to call him and explain to him...he always busy. I can send it to you privately not here
Please i need his number too. Abeg help your boy - realnot471@gmail.com
Presently I'm at the NIS headquarters Abuja. My documents were filed with not much trouble. My interview date didnt seem to matter. I'm now awaiting my name to be called for capturing. It seems I might get the passport today; I truly hope so.
People would just open their mouths and start speeing rubbish! Dumb goat.
SperoQuest: 80% of those getting the virus in Italy and Spain are contracting it through testing and the government knows because it's part of their plan.
They are trying to Target USA but the president and his team with GOD on their side will become victorious.
Do you know the reason why each foreign countries are taking their people away from Nigeria?
It's because they want to Target Nigeria but their plans will fail.
This is the foundation for inter-generational poverty that i keep telling people about. If you have to live your life for your children, then you shouldnt have had them at all. Your parents probably denied themselves the good things of life to provide for your needs. Now you are going through the same circle. If you had given birth to just one, you would enjoy your life and your child would enjoy his or her life too.
Nigerians need to start thinking with their brains and not their emotions or some sentimental attachment. Everyone is living life for their children cos they have more that they can afford to take care of. This is wrong!!!
If you like born half, I will born more than that inshAllah my strength can carry.
When I'm struggling training 2 engineers, 3 lawyers, 4 accountants, 5 political scientists at ABU, UI or OAU
You can continue with your lawyer in Cambridge, he will come back to be a consultant or bloody civil servant under the Ministry any of my sons is heading.
James39: do you think having 2kids keeps you away from the harsh economy? Or do you thinks its everyone with many kids that's poor? Me I just can't takeb2 children. Call me whatever you like. Its my life and my decision
Like I said as for me ooo either maximum or minimum its 4kids.
When you know how to play your cards well. You will understand my own point
Like I always say - the law will run its course. No shaking.
Here is what we know for sure: - Tinubu is not occupying any office in government. - Nobody is accusing him of taking their money. - No bank is saying their Bullion van was hijacked. - Nobody know how much is the van. It can be empty for all we know. - Tinubu have enough financial muscle to put 1 million (1,000,000) and ask for it to be deliver with a van. - The PDP are so empty that all they can only get sustained on Noise.
To be honest, irrespective of whether an individual is occupying any office or not, if there is suspicious activity around him, we expect the authorities to investigate and then tell us that there was nothing there. It has nothing to do with political parties. I dont belong to any political party but i want to know why that bullion van was there.
He's doing great but that's not the primary reason for the establishment of the church. God is more interested on how many sinners that repented in this church or charity organization. If a sinner should come here, get trained without salvation, the pastor will be likened as one who married the future and lost focus. All the same, he's doing a good work.
Nonsense talk! When Christ separated the sheep from the goats, did he ask the number of souls they won? Nope! He asked about the number of people they fed, clothed, helped, the prisoners they visited etc... The goats started to cry that they saved people in his name and performed miracles... but they failed to do this...
I dont think d pressure was from d spiritual leaders or NGOs alone. Stakeholders in the private and public sectors also have problems with some of the requirements of d code as they were overly strict. Obazee has his own issues... and is never loved even among professionals. He acts and behaves like a god. i feel his removal is long overdue. No matter how good ur intentions are or how powerful u are, u must always thread with caution. Never ignore pressure groups and stakeholders even if wat dey want does not make sense.
Obazee is known for always bulying his way through... and dis has affected d way the FRC operates. Ask any CFO; dem go tell u... they are all celebrating.
Investment / Re: Nigerian Stock Exchange Market Pick Alerts by 123ABCXYZ(m): 2:13pm On Jan 19
The corporate governance culture in our listed companies is still very poor. Just check the professional and consultancy fees section of the latest financial statements of some of these listed companies and see how overbloated they are - Thats the cash out line for them.
. It requires at least two moving averages (MAs), the 10-period and 20-period MAs. We are looking for stocks that have moved sharply upwards, in technical terms they have maintained their closing above the 10-period MA. We want them to have made at least 40% since they started. Next, we wait for a sharp pullback. Very often, it will crash below the 20-period MA. We want to enter when it crosses both the 10- and 20-period MAs and the 10-MA is above the 20-MA and looking up. We can enter earlier in some cases if we are confident in the stock.