₦airaland Forum

SonofElElyonRet:
You seem mighty confident that it won't delist... I bought some too... hope you are right

OANDO: In less than 30 mins, N167 million worth of transactions has taken place.
Some people are bailing out at various prices on or below N15.45, with bail out offers trickling in and being mopped quickly, many are waiting at various price junctions from N 12.65 to N14.75

Kreos44:
Stocks worth over one trillion

Thanks

Mankind2024:
I respect your ingenuity of TA, but without TA, putting the fundamentals and recent events in Transcorp into consideration, I already predicted that it will get to N26+ in 2024, coz it is a potential member of SWOOT, and destination SWOOT we are going
LOL

What is the meaning of this SWOOT ?

Oando on full throttle.
At N14

stcool:
The deceit is too much in this country....I just bought USD today $1510 at the parallel market.

Cardoso is just deceiving himself...all this 24hrs circular will not address FX challenges.

The govt needs to resolve the issue of crude oil theft, insecurity so our farmers can go back to the farm, encourage diaspora remittance and build investor confidence. Anything outside this is bullshit.

See Naira... See $1-NGN2000

Don't forget solid mineral theft also.

Streetinvestor2:
And what did the old way create. Make we try new way.It will reduce the money going to black mark and sharp practices by banks.i will be able to collect my dollar dividend at real exchange rates. Then when supply out ways demand .The price will come down.I believe supply is more than demand, it is only it has been passing through black market. Diaspora remittance is much.It has been passing through black market

I think diaspora remittance dropped last year. This could be due to people holding back on projects and visits due to insecurity. If security improves there will be a massive inflow of forex as Nigeria is a growth area. And comparative advantages to be tapped for export income abound (PRESCO & OKOMU are tapping just a little ).

.

BullBearMkt:
Catalyst for today's market reaction:
CBN removes exchange rate cap for International Money Transfer Operators
https://nairametrics.com/2024/01/31/cbn-removes-exchange-rate-cap-for-international-money-transfer-operators/

This could create a big mess. Based on current economic and social condition of the country it could lead to steady continued devaluation, except economic and social conditions improve to make Nigeria attractive for both Nigerians and Foreigners. This policy on its own has a tendency to worsen things as people run towards perceived consistency. However, if security (a social condition) improves this policy could make some economic activities attractive, especially those that substitute imported goods or are involved in exports from Nigeria.

https://businessday.ng/energy/oilandgas/article/nnpc-pays-n140-55bn-for-oando-branded-retail-stations-jetty-others/

This is good news article for Oando this 1st of February
Pray shareholders benefit.

Ginalex:
The rare opportunity to jump into UBA and Transcorp this morning at 22.40 and 11.76 respectively came and I'm glad I took it

UBA sold as low as N22.40 today
The bear gang wanted to wreck some havoc.
CBN and Finance ministry need to stabilize exchange rates and bring confidence to prevent a major damage to the economy as it will reflect in the stock market.

Adinije:
Thank you so much, I appreciate

Recommend reading One Up on Wall Street by Peter Lynch
This is an excellent book. Worth finding time to read it. A free eCopy is here
https://archive.org/details/one-up-on-wall-street-by-peter-lynch/page/n5/mode/2up

SonofElElyonRet:
I don enter the bus.. make e carry me go el dorado

Welcome to the party. By this time next week the bus will reach a major milestone. After which we may take off on the Oando jet

[quote author=akpumpy post=128199274][/quote]They pay as early as First Week in April. Or if late due to delays in approval of audited statements by CBN, It will be May.

Accumulation taking place in OANDO.

In less than 2 hrs of market opening N409 million has been traded. More offers still coming in below N14.00. Current price right now on the floor is around N13.80

Toluway:
DANGOTE REFINERY SET TO IMPORT CRUDE OIL FROM U.S.

There is no problem though. Nigerian companies have actually been supplying the product to Dangote Refinery, but they couldn't meet up with the required quantity.
This is simply due to the fact that they had already entered into contracts to surply other companies before the emergence of DanRefinery and what they had remaining was not enough for the Refinery and Dangote has to make up for the short fall by importing from U.S.

Then it should be a temporary thing that should not last more than a few months. And not become a new avenue for corruption.

BullBearMkt:
You've introduced another aspect into the discussion, which is valid. Nevertheless, the cost of $5/barrel, up to a maximum of 3 million barrels on a vessel, is substantial. That apart, ensuring an uninterrupted supply of crude oil is of equal significance

What is the crude storage capacity for the refinery?

We are just making assumptions for Dangote. He has not stated why he his following such path. What is happening to transparency in this country. Such transactions should not have the driver reasons opaque.

This kind paths often open the gate to new kinds of corruption .

emmanuelewumi:
The bigger size nko

Odeku size of 60cl should be north of N700

emmanuelewumi:
Gulder is N700

Legend stout is about N500 for 44cl only

Toluway:
Nigeria is sinking very fast and those hoarding dollars are playing a prominent role. How do we know the quantum of dollars been hoarded at present?
Can our Naira ever appreciate if we continue to hoard available dollars, no matter how much forex the government is able to earn?
How do we salvage our forex and economy with so many enemies? Home based enemies.

Insecurity looks like the biggest issue against the Naira.

Investments will naturally come in once there is good news concerning security. Less naira will japa to $$$s. But rather $$$'s will Jawa to take advantage of opportunities & value in an underdeveloped economy poised for growth.

Diaspora $$$s will return home along with non-diaspora $$$s once there is better security across the states of Nigeria.

Streetinvestor2:
That means I made right gambling on this.Though I wanted to buy more afolabi units with gsk payments but they no gree pay.My target na #20

It's only N200 million chasing it at the time I wrote not N200b
The amount chasing it at top quoted price is now N234 million. More have joined the queue to mop at maximum quoted price for today.

Let's see if it's not the gra gra before the next court case date that we are seeing on the street again

yMcy56:
If that man enters OANDO, the driver go just throway the entrance key......
All these our plenty grammars and book paralysis here go just disappear fiamm..... people go forget say court case dey self....
We may not know who has mopped the previous quantities self .......no disclosure on NGX

Total bids today at maximum upward price of N13.8 is N200b N200million
That is an unusual amount compared to prior days. Let's see how long/far such money will be chasing Oando shares

stcool:
N500 You cant beat Wale sha....the court judgement will finally put a rest to this Oando Issue.

You may be right, that's assuming he is bent on making the delisting happen. I don't think he is bent on it. He may have considered it due the brouhaha of the shareholders that wanted to exit. And he looked relieved they exited.

megawealth01:
Congratulations to all those heavily loaded in OANDO...

Your prediction sha

We are watching closely

I am entertaining a thought that dividend payment may commence at a minimum of N1 this year, to please shareholders that have held faith with Oando over the years. This thought flashed based on the discourse in the last AGM

SonofElElyonRet:
I sold below N10 or so... has greatpotential though... just not sure it'll achieve same

Not bad to take a profit especially when there are perceived better opportunity costs.

yMcy56:
OANDO on full bid @13.80!
Insiders knows what we don't know yet.....probably..
Where's Megawealth that says it's going back to 7 and all the naysayers?

JAPAUL: Successfully crossed the N3 line.......sighted on full bid earlier.......some offers show face........pickup still ongoing......

The person that says it won't see full bid midday on Friday must have been disappointed by now....
Impostor driver ....Market always have a mind of its own,,nobody can accurately predict the market all the time.

I hope big players like Ote$ is not torch-lighting it now . Maybe it's just the gbelo gbebo that we have seen before

BullBearMkt:
...making such assertion about the market without reasonable evidence is unlikely to convince data-driven individuals. It's as simple as ABC - Always Back Claims with data

Looking at the trends of FCMB price and underlying growth in earnings and Book Values over the last 10 years .

Shareholders selling it anyhow below current prices based on perceptions of previous prior year low prices will be taking a loss. Especially if the economy continues on a growing path in Naira terms plus if bank assets are not severely damaged but safeguarded from poor lending practices.

sterlingD:
l am seeing FCMB unaudited 2023 result
https://doclib.ngxgroup.com/Financial_NewsDocs/40153_FCMB_GROUP_PLC-_YEAR_END_-_FINANCIAL_STATEMENT_FOR_2023_FINANCIAL_STATEMENTS_JANUARY_2024.pdf

This is an excellent result. Let's see if the audited numbers will stay relatively same with earnings per share from profits of N 4.72 and that of comprehensive income of N 7.23.
They can easily up the dividend to N1 even with their practice of paying about 20% of earnings as dividends.

Hustle1:
Who knows the investors buying these power plants?

FG to sell five power plants for $1bn

The Federal Government through the Bureau of Public Enterprises is currently carrying out transactions for the sale of five power plants under the National Integrated Power Projects at a cost of about $1.15bn, it was gathered on Tuesday. Although sources familiar with the development explained that the cost of the plants should exceed $5bn based on international benchmark, they revealed that the BPE was planning to sell the facilities at a price that is a little above $1.1bn.

That is the plants are being sold at giveaway, at about 23% of the international benchmark value.
Indeed good to know who is buying amongst listed GEREGU and TRANSCORP. Or none of these two.

BabsO2:
This is what Bing told me about Blackrock with respect to the US economy.

Quote
I assume you are asking if BlackRock, the world’s largest asset manager, has had a negative impact on the US economy. According to a report by BlackRock strategists, the global economy has entered a period of elevated volatility, and previous investing approaches won’t work anymore 1. However, I could not find any credible sources that suggest BlackRock has damaged the US economy.

In fact, BlackRock has been a major contributor to the US economy. It has invested in various sectors, including infrastructure, technology, and renewable energy, creating jobs and driving economic growth 2.
Unquote

1. https://markets.businessinsider.com/news/stocks/blackrock-recession-warning-stock-market-analysis-2023-economic-outlook-2022-12

2. https://thefederalist.com/2021/11/03/how-the-massive-money-manager-blackrock-endangers-u-s-prosperity-and-national-security/

I quess blackrock will be looking for investment opportunities in infrastructure and perhaps mining. I hope they invest in $$$ generating projects to ease repatriation of their investment funds.

Reading the second link, one can see the potential negative issues BlackRock might be causing in the US
With its massive stock holdings it dictates who the managers of top companies are and seem to have pushed for leadership in companies like Exxon who favored less drilling leading to alleged high fuel prices.
It creates monopolies which I believe could put smaller businesses out of business. And there are some allegations it's causing house prices to rise. etc, Umm

courage89:
I don’t know if this is good or bad for Nigerian economy. When hot money comes into Nigeria, Naira remains unchanged. When hot money leaves, it takes the whole market with it, with huge devaluation and high inflation in the process. Similar situation happened when JP Morgan pulled Nigeria out of their Emerging Market Bond Index in 2015, forcing a lot of hot money to pull out of Nigeria crippling our stock market in the process.

How do we ensure hot money does not destroy our economy during difficult times? I hope CBN and other regulatory agencies are paying attention.

This is what Bing told me about Blackrock with respect to the US economy.

Quote
I assume you are asking if BlackRock, the world’s largest asset manager, has had a negative impact on the US economy. According to a report by BlackRock strategists, the global economy has entered a period of elevated volatility, and previous investing approaches won’t work anymore 1. However, I could not find any credible sources that suggest BlackRock has damaged the US economy.

In fact, BlackRock has been a major contributor to the US economy. It has invested in various sectors, including infrastructure, technology, and renewable energy, creating jobs and driving economic growth 2.
Unquote

1. https://markets.businessinsider.com/news/stocks/blackrock-recession-warning-stock-market-analysis-2023-economic-outlook-2022-12

2. https://thefederalist.com/2021/11/03/how-the-massive-money-manager-blackrock-endangers-u-s-prosperity-and-national-security/

I quess blackrock will be looking for investment opportunities in infrastructure and perhaps mining. I hope they invest in $$$ generating projects to ease repatriation of their investment funds.

123ABCXYZ:
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

Black rock just met with the CBN governor this week. Hope they got positive insights. Also don't forget the ratings agencies upgraded Nigeria last year.

ositadima1:
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.

Add gradually increasing oil production to the picture