₦airaland Forum

Shareholders Furious Over FBN Holdings High NPL Ratio of 22.8%
https://www.businesspost.ng/2018/05/16/shareholders-furious-over-fbn-holdings-high-npl-ratio-of-22-8/

Mutual Benefit Assurance to Pay Shareholders 2 kobo Dividend
https://www.businesspost.ng/2018/05/16/mutual-benefit-assurance-to-pay-shareholders-2-kobo-dividend/

Do you know that the executive delayed the budget passage by not going to defend it. The MDAs did not go to the Senate to state how they executed the 2017 budget.

President Buhari had to direct the MDAs in March 2018 to defend their budgets. The executive succeeded in painting the Senate black in the eyes of Nigerians.

greatman247:
Yes sure I did. The Nigerian Senate are bunch of fools who claim god and wait for the president to bow to their pressures whenever a budget is before them.

They are bunch of time wasters. Why would an already submitted budget stay so long with you without doing justice to it on time. A good senate irrespective of their party should put sentiment aside when a budget is before them and deliberate on it on time and the pass, make amend on time when need be. What Senate give to the executive is what they give out (gabbage in gabbage out). You can't pass the budget so late and expect executive to do miracle they will also slow to implement the budget, even when they don't intend to. Nigeria were still developing with 2017 Budget when we are already have into 2018. What a useless country I find myself in.

Non Payment of Dividend, Declining Stock Value Worry Oando Shareholders
https://www.businesspost.ng/2018/05/15/non-payment-of-dividend-declining-stock-value-worry-oando-shareholders/

National Assembly Raises 2018 Budget to N9.12tr, Allots N2.2tr to Service Debt
https://www.businesspost.ng/2018/05/15/national-assembly-raises-2018-budget-to-n9-12tr-allots-n2-2tr-to-service-debt/

Tantalizers Expands Operations with New Outlet in Ikare Akoko
https://www.businesspost.ng/2018/05/15/tantalizers-expands-operations-with-new-outlet-in-ikare-akoko/

That has always been my philosophy. Falling stock price is good news to smart buyers so far the stock has good potentials.

oyesola:
....This bear is an opportunity to buy MORE at lower price. Don't faint!!!

Maybe Bubu's loss in the 2019 polls would.

Yayira:
Lol @ serious witch
Someone was asking the other day if Super Eagle loss will affect the market

I’m yet to see what doesn’t affect NSE

National Assembly Raises 2018 Budget to N9.12tr, Allots N2.2tr to Service Debt
https://www.businesspost.ng/2018/05/15/national-assembly-raises-2018-budget-to-n9-12tr-allots-n2-2tr-to-service-debt/

The Nigerian market na serious witch. I won't be surprised if the market closes bearish that day.

Mpeace:
If the market does not react positively when budget is finally passed, be sure that the problem is no longer a physical one.

By Dipo Olowookere

The Nigerian Senate on Tuesday finally laid the 2018 appropriation bill after postponing it in the past two different times.

The #Budget2018 Report was laid on the floor of plenary today by Chairman of the Senate Committee on Appropriations, Mr Danjuma Goje.

Last week, spokesman of the upper parliament, Mr Aliyu Sabi Abdullahi, said the Senate would lay the report last Tuesday and pass on Wednesday and if it was not laid on Tuesday, it would be done on Wednesday to be passed today.

However, the red chamber did not lay the 2018 budget report any of the above days until today, when it was finally laid.

With this done, the 2018 appropriation bill is due for passage tomorrow or Thursday.

Yesterday, Minister of Finance, Mrs Kemi Adeosun, disclosed that government was closing the 2017 budget with N1.5 trillion spent on capital expenditure.

https://www.businesspost.ng/2018/05/15/breaking-senate-finally-lays-2018-budget-report/

BREAKING: Senate Finally Lays 2018 Budget Report
https://www.businesspost.ng/2018/05/15/breaking-senate-finally-lays-2018-budget-report/

By Dipo Olowookere

Tensions in the Middle East are gradually pushing the price of Brent crude oil to around $100 per barrel.

As at the time of filing this report on Tuesday morning, Business Post learned that the commodity was trading at $78.38 per barrel, recording about 51.31 percent growth in one year.

The price of crude oil has been facing north lately as a result of President Donald Trump withdrawal of the United States from the Iran agreement.

Also, on Monday (yesterday), the US officially moved its Embassy from Tel Aviv to Jerusalem, Israel, which has sparked protests in Palestine.

During the demonstrations against the US action at the Gaza border yesterday, Israeli forces killed dozens of Palestinians.

These have caused price of crude oil to rise at the global market and analysts predict it could hit $100 per barrel before the end of this year.

In the 2018 budget, Federal Government put the oil benchmark at $45 per barrel, but the National Assembly raised it to $47 per barrel.

With the current price at $78.38 per barrel, Nigeria would be making an excess of $31.38 per barrel sold.

Business Post reports that the country’s crude oil production stood at 2.022 million barrel per day in March, which is about 277,000 bpd below the 2.3 million bpd benchmark for budget 2018.

Though the 2018 budget is yet to be passed by the National Assembly, a cross section of Nigerians who spoke with our correspondent on this issue said the rising crude oil price is good news to the country, which depends largely on the commodity for revenue.

“It is a good development. The price should keep going up so that we can earn more,” a business man in Lagos named Mr Sunday Ameh, told Business Post.

Another respondent, who identified herself as Ms Funmilayo Ajibade, however, urged government to use the opportunity to save for the raining days.

“Now that the country is making cool money from crude oil, Federal Government should start saving for us not to experience the 2016 economic downturn again.

“If they accused the past administration of not saving during the 2014 oil boom, I don’t expect them to make such mistake,” she said.

For Adebiyi Onigbinde, it is not yet time to rejoice because “I don’t this government to save for the raining days. Remember, elections are next year and you would ordinarily expect the excess money made from the sale of crude oil to end up in the pockets of some cabals and politicians; that was what happened in 2014 and I don’t see it not happening again under this administration.”

https://www.businesspost.ng/2018/05/15/nigerians-jubilate-as-crude-oil-price-nears-80-per-barrel/

To me, Oando should be avoided for now until the coast is clear. Remember the suspension was lifted when Bubu needed Jagaban and if Bubu gets a second term next year, he might dump Jagaban like he did in his first term and Oando might "hear wen" by that time.

Mpeace:
I bought oando during the suspension. You forget that I and loco entered together. But he left early. I have not sold. My jijo money is intact. Transcorp or eterna will give me jijo opportunity. Eterna jijo was so sweet last year but transcorp seem to be showing more jijo potentials this year.

Nigerians Jubilate as Crude Oil Price Nears $80 per Barrel
https://www.businesspost.ng/2018/05/15/nigerians-jubilate-as-crude-oil-price-nears-80-per-barrel/

Inflation in Nigeria Eases to 12.48% in April—NBS
https://www.businesspost.ng/2018/05/15/nigerias-inflation-eases-to-12-48-in-april-nbs/

Diamond Bank CEO Highlights Steps Taken to Return to Profit in 2018
https://www.businesspost.ng/2018/05/14/diamond-bank-ceo-highlights-steps-taken-to-return-to-profit-in-2018/

Stocks to Buy, Sell, Hold This Week (May 14)
https://www.businesspost.ng/2018/05/14/stocks-to-buy-sell-hold-this-week-may-14/

Nestle Pays $7.15b to Market Starbucks Products
https://www.businesspost.ng/2018/05/14/nestle-pays-7-15b-to-market-starbucks-products/

Why Dangote Shutdown Tomato Factory and Lessons to Learn from it
https://www.businesspost.ng/2018/05/13/why-dangote-shutdown-tomato-factory-and-lessons-to-learn-from-it/

N330b Bills Mature This Week as CBN Auctions N34b T-Bills Wednesday
https://www.businesspost.ng/2018/05/14/n330b-bills-mature-this-week-as-cbn-auctions-n34b-t-bills-wednesday/

Overnight Rate Hits 7-Month High of 73.42% as T-Bills Yields Add 0.75%
https://www.businesspost.ng/2018/05/14/overnight-rate-hits-7-month-high-of-73-42-as-t-bills-yields-add-0-75/

Good point you have raised there and my points here about Diamond Bank has always been that it is stock for the future. The time to buy is NOW when the price is falling and keep for the expected boom probably end of this year or 2019.

The truth about the stock market is that bad news is good news to others.

elitestrategist:
Time is the defining word for shares hunters.
In my view,based on assets of diamond bank , No tier 2 bank should be trading below N3
Some hunters are busy buying your dumps at d current price thinking d shares of diamond wil plumet to N0.8
A secret is being kept from individual investors by the core investors.
A game changer wi appear soon
If highly mismanaged banks like sky, sterling,key stone are stil in biz then i wonder while diamond will not attain N7 in dz current dispensation.
Pple are scared of bad result in the face of good fundamental and asset base and begin to dump potential ffuture money making stocks to foreign investors at a give away price.
Forget all d mathematical analysis of PEs on dz forum
Only few people saw d potential in ccnn when it was written off by all stock trading firm. Infact it never appeared on recommended lists of securities from 2000 till 2017.
Today,ccnn is a must buy.
Diamond is not in financial distress
The opportunity to buy is now
The price w definitely climb up no matter the speculation and ongoing dumping....buy it now or wait till it plummet to 85kobo

Honeywell Identifies Key Areas to Boost Growth, Sustainability
https://www.businesspost.ng/2018/05/13/honeywell-identifies-key-areas-to-boost-growth-sustainability/

Diamond Bank Shares Shed 5% after Posting Dismal 2017 Results
https://www.businesspost.ng/2018/05/13/diamond-bank-shares-shed-5-after-posting-dismal-2017-results/

The Diamond Bank FY2017 results did not surprise me. To me, it was expected with the unnecessary delays.

However, the woeful performance is good news. I know the stock will get better in the future and I even pray it falls to 50 or 65 kobo. At this price, the wise ones will acquire the stock in bulk at a cheap price in anticipation of the future growth.

One thing I have learnt in the stock market is that someone’s downfall is another person’s blessing.

Diamond Bank Records N11.6b Loss in 2017 Despite 3% Rise in Earnings
https://www.businesspost.ng/2018/05/11/diamond-bank-records-n11-6b-loss-in-2017-despite-3-rise-in-earnings/

By Dipo Olowookere

Out of the 36 states of the federation, only 10 of them have made their approved budgets for the year 2018 available for members of the public to see.

This information was revealed by BudgIT, Nigeria's civic tech organisation raising the standards of transparency, citizen engagement and accountability most especially in public finance.

On its Twitter page on Friday morning, the organisation disclosed that, “There are only 10 states with public budgets [in Nigeria].

“Is your state among them? Can you call out your Governor to provide details of the budget to the PUBLIC?”

Revealing the 10 states that have published their proposed spending for the 2018 financial year, the group gave the names as Delta, Ebonyi, Edo, Kaduna, Katsina, Kogi, Kwara, Ondo, Plateau and Yobe States.

For a while, BudgIT has been asking for transparency in the execution of the appropriation bills of states in the country.

Other platforms have also joined in calling on state governments to make their approved budgets available to the citizens because they have the right to know how their funds are used.

Particularly, the Lagos State government has been asked to show leadership in putting its budget for all to see.

Efforts to use the much-celebrated Freedom of Information (FoI) Bill to force Lagos State government to do this have proved abortive.

How the state government executive its budgets has been left in secrecy and there are no assurance that residents of the nation’s economy capital, which plans to be one of the best cities in the world, would soon know how government carry out its budget.

https://www.businesspost.ng/2018/05/11/only-10-states-make-budgets-public-budgit/

By Dipo Olowookere

Nigerians have been urged to trust the President Muhammadu Buhari administration to deliver its promised of improving the nation’s economy.

Minister of Finance, Mrs Kemi Adeosun, made this passionate appeal on Thursday during a meeting with the World Bank delegation to Nigeria.

The team from the global financial institution was in the country to get updates of some projects it was financing in some states of the federation.

During the meeting held in Abuja yesterday afternoon, Mrs Adeosun briefed the World Bank Mission comprising 10 Executive Directors on the progress made so far by the current government.

The Minister, who described the World Bank as “vital partners” for us in Nigeria, said he shared “encouraging news of the progress we’re making in stabilising and improving the Nigerian economy.”

Mrs Adeosun told the team that in the last two years, this administration has “made remarkable progress in our Ease of Doing Business Reforms.”

According to her, government has also “invested significantly more in infrastructure, and [has] been able to grow Nigeria’s taxpayer base from 14 million in 2016 to 19 million as at today.”

She, therefore, appealed to Nigerians to “trust the President Buhari Administration to deliver on its promises of improving the economy and providing sustainable infrastructure development.”

According to her, “All around the country, we have rail, power and road projects ongoing, creating jobs, and improving citizens’ lives.”

https://www.businesspost.ng/2018/05/11/nigerians-should-trust-buharis-ability-to-improve-economy-adeosun/

Unilever Shareholders Okay 50 Kobo Dividend, Sale of Blue Band Brand
https://www.businesspost.ng/2018/05/11/unilever-shareholders-okay-50-kobo-dividend-sale-of-blue-band-brand/

Nigerians Should Trust Buhari's Ability to Improve Economy—Adeosun
https://www.businesspost.ng/2018/05/11/nigerians-should-trust-buharis-ability-to-improve-economy-adeosun/

CCNN Rewards Shareholders with N1.25k per Share Dividend
https://www.businesspost.ng/2018/05/11/ccnn-rewards-shareholders-with-n1-25k-per-share-dividend/

Union Bank Grows PAT by 17% to N5.3b in Q1 2018
https://www.businesspost.ng/2018/05/10/union-bank-grows-pat-by-17-to-n5-3b-in-q1-2018/

FY 2017: Union Bank Gross Earnings up by 26% as NPL Ratio Hits 19.8%
https://www.businesspost.ng/2018/05/10/fy-2017-union-bank-gross-earnings-up-by-26-as-npl-ratio-hits-19-8/

Sterling Bank Vows to Deliver Superior Returns to Shareholders
https://www.businesspost.ng/2018/05/10/sterling-bank-vows-to-deliver-superior-returns-to-shareholders/

MTN Targets N400b Bond Sales in 2018
https://www.businesspost.ng/2018/05/10/mtn-targets-n400b-bond-sales-in-2018/

Jaiz Bank Targets 11.22% Growth in Return on Equity by 2022
https://www.businesspost.ng/2018/05/10/jaiz-bank-targets-11-22-growth-in-return-on-equity-in-2022/

hahaha, dem share item 7 today at the AGM, but e no sweet (lol). However, the shareholders no look fresh at all. Na old people and pensioners full there and they complain badly of no dividend payment for year. I really pity them. They seem to be the most patient shareholders of banks on the NSE.

maishai:
CHAI no item 7 @ wema agm, must be a very broke company, no hamper, shareholders are not looking fresh, pls keep up d good works, may be one day I will base my investment analysis on how fresh the shareholders look.......

Wema Bank Assures Shareholders of Dividend Payment Soon
https://www.businesspost.ng/2018/05/09/wema-bank-assures-shareholders-of-dividend-payment-soon/

See Nigeria’s Top 10 Stockbroking Firms so far in 2018
https://www.businesspost.ng/2018/05/09/see-nigerias-top-10-stockbroking-firms-so-far-in-2018/

Japaul Oil Pulls Out of $350m Equity Deal with Milost Global
https://www.businesspost.ng/2018/05/09/japaul-oil-pulls-out-of-350m-equity-deal-with-milost-global/

I agree with you, but that does not mean regulators should not punish infractions at least to protect the 'greedy and fearful' ones. Well, failure is part of a learning process.

RabbiDoracle:
This place is enough for you to get your information.

But will greed allow us stay away from a stock with unusual price movement?

If we can't control GREED and FEAR, we don't have business in this market. Once a negative/bad result is released or bad news is in the public, Omo mehn.... jaaaaaaaaaaa

Jejebaba, I am not o. I just dey my own lane dey 'jejely' observe the market (lol).

Jejebaba:
Mr Dipo Olowookeere, are u related by chance to Mr Olowookere- Intro-tech and Technical Drawing Teacher? Just curious.

It baffles me how regulators in Nigeria allow malpractices to be perpetrated without taking any action.

In a saner clime, this Japaul Oil/Milost botched deal would have left many heads rolling, but such will never happen here.

Oando is still there with nothing heard anymore. At the end, investors suffer. Maybe they need another BBC documentary before they take action. It is well.