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Terms and Conditions for Graduate Trainee Programme Application By applying for the Graduate Trainee Programme (“the Programme”), you acknowledge and agree to the following terms and conditions: 1 Eligibility Applicants must have a Bachelor's Degree or its equivalent from an accredited tertiary institution with a minimum of a second class upper degree Applicants must have 0 to 2 years of work experience Applicants must have completed NYSC at the time of application. Only candidates who provide complete and accurate information will be considered. 2. Application Process Submission of an application does not guarantee selection or employment. The selection process may include, but is not limited to, assessments, interviews, group exercises, and background checks. The Company reserves the right to verify the accuracy of all information provided and may disqualify candidates for false or misleading statements. 3. Data Protection and Privacy Personal data provided during the application process will be collected, stored, and processed solely for recruitment and selection purposes. By submitting an application, you consent to the Company processing your personal data in accordance with applicable data protection laws. Your information will not be shared with third parties outside the recruitment process without your consent, unless required by law. 4. Equal Opportunity The Company is an equal opportunity employer and does not discriminate on the basis of race, gender, age, religion, disability, marital status, or any other protected characteristic under applicable law. We are committed to providing reasonable accommodations and disability support to ensure that individuals with disabilities can participate fully and equitably in our recruitment processes, employment opportunities, and workplace activities. All applications will be reviewed based on merit, skills, and potential. 5. Confidentiality Applicants must not disclose, share, or misuse any confidential information obtained during the recruitment process. All assessment materials provided during the selection process are the property of the Company and must not be reproduced or distributed. 6. Programme Conditions Successful applicants will be required to sign an employment contract, which shall govern the terms of their engagement. The Company reserves the right to modify, suspend, or cancel the Programme at any time without prior notice. 7. Withdrawal Applicants may withdraw from the recruitment process at any stage. 8. Governing Law These Terms and Conditions shall be governed by and construed in accordance with the laws of the Federal Republic of Nigeria. Link: https://tally.so/r/ODj2Wa
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Job Location: Warri, Delta State, Nigeria Your role As a GRADUATE TRAINEE you will: • Participate in a structured development programme designed to accelerate early-career learning and technical exposure. • Gain valuable hands-on experience through challenging assignments across core business and operational functions. • Receive dedicated mentoring, coaching, and performance feedback from experienced professionals. • Combine both office and field experience to develop a practical understanding of oil and gas operations. • Demonstrate excellence, adaptability, and teamwork in a fast-paced professional environment. • High-performing interns may be considered for full-time employment opportunities upon successful completion of the programme. The requirements for your role: • Applicants must be Nigerians with degrees in any of the following disciplines: Process Engineering, Mechanical Engineering, Geology, Geophysics or Petroleum Engineering. • Minimum academic qualification: Second Class Upper (2:1) with five (5) O’Level credits (one sitting). • Should not be more than three years post graduation experience (including NYSC). • Must be below 26 years old. • If the candidate has a Master’s degree, this should have been completed by 2025 • Must be self-motivated, energetic, and demonstrate strong leadership, teamwork, and analytical skills. • Excellent oral and written communication abilities. The Opportunity at a Glance This Graduate Trainee Programme provides successful candidates a launchpad for a lasting career. You will gain hands-on experience across relevant functions, participate in value creation and realization, and mentorship from industry professionals. High-performing interns will be considered for full-time roles and growth opportunities within a company that values talent, learning, and long-term development. To apply: https://recruitment.dragnet-solutions.com/portal/apply?d=ndwestern&details=547
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🤔🤔🤔
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I understand application closes 17 May. Fingers crossed. AleleOgor:
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6 more days to go before the application portal closes!
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Please scan the QR code below. Rielbusinesses:
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At Renaissance Africa Energy Company Limited, we are not just building an energy company, we are shaping the future of Africa’s industrialisation and energy security. At the heart of this transformational ambition are our people. Our inclusive, high performance, and collaborative culture is designed to help you thrive. You will be empowered to build critical skills, take on meaningful responsibilities, and contribute to impactful, real-world energy projects that matter.https://renaissanceafricacom.careers.flair.hr/positions/a2dTY000004CKtXYAW?embed=true
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Join the Renaissance of Energy in Africa At Renaissance, we’re not just building an energy company, we’re shaping the future of Africa’s industrialization and energy security. Our people are at the heart of this transformation. That’s why we’ve crafted a workplace where purpose meets performance, and careers are built on impact. Our brand and competitive Employee Value Proposition aim to attract, develop, and retain the best talents. Finance Advisors Finance Analysts HR Supply Chain To apply visit: https://renaissanceafrica.com/careers/ |
FIDELITY BANK PUBLIC OFFER, WHAT YOU NEED TO KNOW! The long awaited question is out. I just logged in to Facebook few minutes ago and saw that Mercy Okeke had tagged me to her post asking about my thoughts on Fidelity Bank shares. So, I decided to write about it, to give more clarity and for everyone to learn... === 1) Why Is Fidelity Bank Offering Shares to the Public? Before asking if you should buy Fidelity or not, first try to understand why the bank is offering shares to the public. If you don't know why someone is selling their product and what they want to achieve, you'll not be able to judge if it's a good buy or not. For starters, Fidelity is already a public listed bank This means that, their shares has been public for some years now. As a matter of fact, Fidelity Bank shares has been public since their first IPO in 2005 === 2) Initial Public Offering (IPO) In 2005, Fidelity Bank had their Initial Public Offering also called IPO. IPO is a term used to describe when a company offers its shares to the public for the 1st time. This means Fidelity Bank shares has since been in the market, available to buy since their first IPO. What is currently happening is that Fidelity Bank is creating/offering a new set of additional shares to the public, which is what is currently on sale. When a company is creating a special public offer for their shares, it means the company is seeking additional funds to help grow their organization and make it bigger. === 3) CBN Recapitalization Exercise If you've not been living under the rock since this year began, you would have heard that CBN gave a new mandate for banks to recapitalize. What this means is that, CBN is mandating that banks should increase their capital base (shareholders fund) This exercise is done to make the banking industry stronger and more dominant due to effect of inflation and how Naira has been falling in the past 2 decades. The last time CBN mandated this was in 2005 To understand this better, Picture how the Labour Congress has been advocating for new minimum wage for Nigerians because of the economic reality So, the recapitalization is just like new "minimum wage" for banks. === 4) Fidelity Is Not The Only One Because the recapitalization mandate for for all banks, Fidelity Bank is not the only one who would offer more shares to the public. It's just that they are the first to start it since the announcement Gtbank would follow First Bank would do their own, Zenith would do too, and like that, like that. They would all be offering new shares to meet up with CBN's new "minimum wage" === 5) Should You Buy Fidelity? If you want to get married, and you meet a fine girl, getting married to her depends on so many factors It now depends on you to see if the girl fits your dreams and ambitions They're would always be many fine girls out there You can't date/marry every fine girl that you see. Fidelity and other banks would be offering their shares Should you buy every bank, because they're offering to the public? === 6) Final Verdict My personal policy is that, I don't buy shares of a company just because they are offering it for sale I only buy if I'm convinced of them Also, I don't buy when the offer is on sale Because there would be a lot of frenzy, media hype, etc So, I personally do prefer to buy when the whole noise has calmed down, then it would be clearer to judge. === I hope I've been able to educate you and not confuse you on what Fidelity Bank's public offer is about. If you are interested in buying, that decision is yours to make. Contact your preferred stock brokerage platform/firm. === KINDLY SHARE THIS FOR OTHERS TO LEARN By the way, if you're interested in learning about the stock market and how to determine which shares to buy reach out to me on Facebook. Nathanael Disu
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Deep.
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🔟lessons I learnt in my 10years in marriage🥂Chux Nnodim
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Nairalnders look out for the nominees and winners of the Male Category. Moderators please move to front page to inspire others. CC: Seun CC: Moderators |
Drum rolls please 🥁🥁 🥁 AND THE WINNER IS... Prof Nnenna Oti 🍾🥳🎉💯 VC of FUTO - First female in that position INEC Returning Officer 2023 - Abia State Governorship Election She needs no introduction. She was dogged. She was virtuous. She was a believer of a corrupt-free Nigeria. She withstood threats. She defied all odds. She is an amazon. Millions of Abians around the world are in awe as the state is on the upward trajectory of growth. All these are because Prof Oti ensured that the electorates won't be robbed under her watch. Her story is well covered in the media. Please see link below for more details. https://blueprint.ng/video-jubilation-as-futo-vice-chancellor-returns-after-2023-governorship-election-duty/
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FIRST RUNNER UP POSITION Nelly Agbogu 🍾🥳🎉 Founder Naijabrandchick (NBC) Founder NelliesNigeria MSMEs are the engine of any economy. For example, the akara seller that starts selling from 6am, the barber shop at the junction, and the caterer at the end of the street. These individuals are at the heart of any economy. When they prosper the economy blossoms. Nelly Agbogbu impacted over 1000+ of these individuals by helping them make sales. She hosted the NBC trade fair for MSMEs to showcase their wares, build customer base and sell their products & services. NBC trade fair was hosted in Lagos, PH, Abuja, Ibadan etc. generating over $1+ million. Testimonials from individuals have been mind boggling. Visit her page to learn more. https://www.facebook.com/nellyagbogu1?mibextid=ZbWKwL
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SECOND RUNNER UP POSITION Owen Omogiafo 🥳🍾🎉✨️ President & Group CEO of Transcorp As of the time of writing this, the value of Transcorp has increased by 688% year to date (see snapshot below) and Transcorp Hotel by 921% year to date. This is a testament of her transformational leadership and hardwork. Investors (local and foreign) are smiling to the bank due to the increased value of their portfolio. We congratulate her for this achievement and wish her a spectacular 2024! https://www.nairametrics.com/2023/12/25/top-10-best-performing-nigerian-stocks-at-christmas-2023/%3famp=1
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This Award celebrates the most influential and impactful Nigerians in the year under review. The nominees were specially selected based on their positive impact on people underpinned by integrity and virtue. They embody the tenacity, love for Nigeria, and integrity that was displayed by the highly esteemed, iconic and respected Prof Dora Akunyili OFR. Her spirit lives on in our acts. The nominees for the DAK23 female category are: 1. Jennifer Edifi - Defied the odds to vote and got injured in the process. Some have tagged her a "Hero of Democracy". 2. Nelly Agbogu aka Naijabrandchick - Created a platform for 1000+ micro, small and medium enterprises (MSMEs) to generate a revenue of $1+ million. 3. Hilda Baci - Broke Guinness World Record in style thereby promoting Nigeria and creating awareness so other Nigerians can unleash their talent to break records. 4. Owen Omogiafo - Grew Transcorps group market value thereby rewarding local and international shareholders. 5. Ngozi Mary Kekwaru - Returned huge sum found in her former place of work displaying integrity and virtue. 6. Prof Nnenna Oti - Stood her ground as the INEC returning officer to ensure votes "counted" during the Abia state gubernatorial elections. She has been called a "Hero of Democracy" as Abians are now reaping the true dividends of democracy. 7. Tems - Won Grammy award thereby inspiring others. 8. D'Tigress - Won FIBA women’s Afrobasket champions in 2023 thereby inspiring others. 9. Asisat Oshoala - Won CAF player of the year (Women) Award thereby inspiring others. 10. Oge Obasi - Her movie, "Mami Water", won several awards this year thereby inspiring others. Notable Mentions We reckon that there are others impacting lives without making noise about it. We also honour those in the notable mentions section. Feel free to drop their names let's acknowledge and recognise them. Without further ado, let's start with the second runner up for The Woman of the Year.
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So many takeaways from this newspaper snapshot. A book can be written from this.
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emmanuelewumi:Sir, how did you come about the intrinsic value? We learn everyday. |
I felt bad after I bought Okomu Oil at N90 because I missed it at N75. The feeling got worse when tales of when the share price was N5 were told. In the market, the longer you hold the higher you chances of doing well as long as the business does well. Price doesn't matter too much as longer as it is below the intrinsic value. Some thoughts today as the market recalibrates: 1. What is the intrinsic value of GTCo? 2. Is it above N35? 3. If I buy at N35 what should I do so I don't feel awful when it drops to N20? 4. What should I do with the cash gift I just received? Wait for pull back? Go all in as time in the market is better than timing the market? Picture herewith is courtesy of @BrianFeroldi
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Nice play with words. Patience is a virtue.
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Jerekre:Well done Sir/Ma! I wish you well on the wealth journey.
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I scored 66. I must confess it has been extremely challenging. Looking back, with focus and determination, I moved from less than 10 to where I am today. I still have my sights on 100 and beyond. I had to cut down drastically on frivolous expenses and requests from people. Extra funds from the cost cutting were channelled to cash generating assets. I have been called unprintable names because of my actions to improve my financial health. Funnily, these same people are celebrating Peter Obi for his simple lifestyle and financial prudence. But when I did the same, they mocked me. If there's one word that sums up my financial journey so far, it is FOCUS. Stay focused. The financial market is not running away. Remain focused. There will always be seemingly attractive new schemes. But stay focused. Your emotions will run wild. But stay focused. Financial analysts will try to influence you. But stay focused. Friends and family will try to sway you. However, stay focused. The economy will strain you. Comrade, stay focused. Social and traditional media will promote fads and FOMO. Alas, stay focused. Anyway, what are your reflections? 1. What's your score? 2. How did you achieve it? 3. How are you planning to score 100? 4. If I may, why do you want to be wealthy?
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Deep.
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It will end in praise!
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2011 Election, how GEJ (PDP) overwhelmingly won Buhari (ACN) By Ugochukwu O. Ogbuka Majority of the votes Jonathan got was from the South and middle belt! At the time, PDP was widely accepted and perceived to be a Southern Party! That leaves me with the question, can the NORTH really win an election without the support from the South (The answer is NO) Can the SOUTH win an Election without the North (the answer is also no) But notice the difference in the NO/no... that is just it... Buhari won 2015 election as a result of perceived failure from a vast majority of the SOUTH! A Northern propaganda campaign against Jonathan, headed by El Rufai, Lai Mohammed, etc made several southern Nigerians think Jonathan was doing badly and the campaign paid off in 2015... If Jonathan had contested again against Buhari in 2019, because majority of Nigerians now knew better then, especially the southerners that Jonathan was doing even better, Jonathan would have won The NORTH has a way of sowing dangerous seeds in the minds of majority of southerners, some of those dangerous seeds I will list below: 1. That a southerner cannot win a northerner in a clear election contest (presidential) 2. That the north is higher in population compared to the south 3. That southerners don't vote on election day,(they don't like stress) 4. That the real voters are not on social media 5. The real voters are those in the rural areas (lies) 6. That people's votes don't count on election day (lies) 7. That a south easterner can easily sell his brother for dollars on election day (is a lie)...this something that happens virtually everywhere in Nigerian politics a good example is given below: Check all the elections between 1999 till date, Buhari contested in all and only won the last 2 elections, thanks to INEC He's people in the North voted against him on several occasions either on the basis of party, or on the basis of social awareness (education and englightenment)...where were the rural farmers/people. The overwhelming support of the south in 2015 gave him victory, if not he would have lost...today, that support is no longer there! The reason for this post, is for us to take the time to review our political stands, understand our strength as a people whether North or South, study our election history carefully, make strategic plans, and find a common ground to vote the right candidate and win an election! Another reason is to encourage you to understand your strength as a voter, the reason Buhari won Jonathan in 2015 was because a majority of us were deceived by the lies and propaganda campaigns...I'm sure we now know better! We can win an election that we want to win, but our greedy and selfish politicians won't tell you this kind of TRUTH, because they rather want to win an election that they want to win!!! #PeterObi is my candidate, he can win if we do not allow those seeds to stay in us this time!!! Thanks Ugochukwu O.O.
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How To Sell #PeterObi To Northern Nigerians by Oliver Emmanuel Chukwuemeka No South Easterner can win a presidential election in Nigeria without the support of Northern Nigeria. This is not a curse, it is a statistical fact. Based on the above fact, the major task of supporters of The Peter Obi Presidential Campaign should be to market Peter Obi to Nigerians in the North. To achieve this, I've come up with the following strategic ideas: 1. Translate All Peter Obi's speeches to Hausa and Fulfulde . 2. Buy Radio airtime in major Radio stations in the North where Peter's Translated Speeches and interviews will be played on a weekly basis. 3. BBC Hausa is vital. Get in touch with them. Grant regular interviews with bbc Hausa and other Hausa and Fulfulde platforms . 4. Create Physical presence through liason offices in key Northern cities. These offices should be functional and effectively engaging grassroot formations to propagate the message of a new Nigeria. 5. A powerful Northern Nigerian deputy from Kano, Kaduna or Kastina - the super 3 Ks. 6. Create a Shadow Cabinet with Shadow Ministers.. A Shadow cabinet doesn't have executive power since they are only executive members of government in waiting. Distribute key Shadow Ministries to the 3 Ks. This will create a deep effect in the political conversation in the North. The Shadow Ministers will operate just like normal Ministers, they should be given official cars and their job will include to criticize the original Ministers in the current administration - offering a better alternative to the unsolved problems of the current cabinet. Shadow cabinets are powerful opposition tools. This alone could place Labour Party as the main opposition party displacing PDP which is almost on its way to the grave. 7. The North is Nigeria's most politically conscious region. They don't vote money, they vote interest. Protect Northern interest in Nigeria while ensuring a balance in the South. 8. Supporters of Peter Obi must avoid getting into social media wars with Northern Nigerians. Stop the subs....they are your partner in constructing the new Nigeria. I've always maintained that the North is not in enmity with the South. Some evil politicians created a fake division. Peter Obi must expose that division and seek to be a unifier. Supporters of Peter Obi must have at least 10 influential Northerners who are partners in the Rescue Nigeria project. 9. Avoid religious misunderstandings. Respect each other's religious opinions. 10. Protect Northern businesses in the South and vice versa. If Peter Obi is successfully sold to the North, you will see a political miracle in 2023. Peter Obi is a builder... laugh at him with caution. Please pass this message until it gets to Mr. Peter Obi and his campaign team. Above all, get registered and secure your PVC.
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SLAP44:Jafar. Someone introduced me to him a few years ago but we've never met. He lives in Kano while I live in Port Harcourt and we have been transacting business together. He is my FX plug. I send him money and go to sleep until he does the needful, he's never cheated me. His rates are genuine and without gimmicks. Recently, it took a long time for him to credit my account but I wasn't perturbed because I have full assurance that he won't try anything funny. I sent him a message that I was yet to get credit. He called me immediately and apologized profusely that he actually forgot. He credited me immediately but unknowingly did it twice. He was yet to realize his mistake when I called to mention it to him. I refunded his money immediately. We have mutual respect for each other despite our differences and not meeting each other. I don't even know what he looks like, we only talk on phone but we take risk on each other. Your concerns and reservations about Nigeria are valid. I have mine as well and I don't shrug it off, but don't approach every HUMAN you meet with that mindset, it poisons relationships, communities, and even opportunities. We are first humans before Nigerians. Happy Independence Day. Your Co-Traveler, Mister Maple Maple Tammy Dappa |
10-year-old Dumebi Edward-Dibiana writes on what she would have done if she had the mandate to lead Nigeria. If I were the president of Nigeria, the first thing I would work on is Insecurity. Insecurity is one of the major problems we are facing in Nigeria. It is growing bigger and bigger everyday. The major aspects of insecurity in Nigeria are kidnapping, terrorism and banditry. Kidnapping has grown so bad that after the Chibok girls were kidnapped by Boko haram, more children are being kidnapped from various schools in Nigeria. As president, I would increase the number of security personnel posted in affected areas, especially in Northern states. If we can’t stop insecurity, at least we can reduce it. Furthermore, the Economic situation in Nigeria is very bad. Prices of food items are now very high. Some of the reasons for the increase in prices of food items include the coronavirus pandemic. Ever since the pandemic started, there has been lockdown, not only in Abuja but all over Nigeria, causing businesses to shutdown, especially buying and selling of food items. After the pandemic, traders, in a bid to recover from all the money that they lost during the pandemic, increased the prices of food items. Secondly, we all know that farmers are the people that grow all the food that we eat in Nigeria. The problem is that farmers find it difficult to go to their farms because of fear of terrorists that kill and terrorise them on their way to and at their farms. This leads to shortages in food items because farmers are afraid to go to their farms. For example, if there are 100 apples and 1000 people want to buy those apples, the traders would most likely increase the price of the apples because of the increase in demand, so that those that are able to afford the apples would get them. As president, I would provide security for the farmers and reduce the cost of farming tools so that farmers would produce more and make food more available. The third reason is that farmers live in the villages and not in the towns. So, in order for them to get to the town, they would have to use transportation. But in most remote areas where farms are located, the roads are very bad and this makes transportation very difficult. So a journey on a good road which takes two or three hours, would take up to seven hours or even a whole day on a bad road. And that makes the cost of transportation very high, making the farmers add the high cost of transportation of their goods to the cost of the goods. This leads to the traders increasing the prices of the food items in order to recover the money spent on transporting their goods. This is like a chain reaction. One action has a big impact on another and it keeps on going on and on. So, If I were the president, I would provide good roads in rural areas where farms are located so as to reduce the cost of transportation, thereby making the traders sell their goods at affordable prices. Aside from that, the number of out of school children in Nigeria is growing day by day. More than half of Nigeria’s out of school children are poor and live in remote areas, especially in areas where serious cases of insecurity such as terrorism, banditry and kidnapping are taking place. As president, I would build schools in those rural areas and employ well-trained teachers to teach the pupils who attend the school. The pupils will not have to pay school fees because most of them are poor and cannot afford to pay the school fees. My government would pay the teachers who are working in those schools more. I would also provide security for the children and people in those areas. I would also like to review the punishments given for certain crimes. This is to ensure that criminals get punished severely and serve as an example to others not to live a life of crime. Another Important aspect that I would like to work on is the issue of electricity. Electricity is very important in Nigeria, it is used in factories for manufacturing of different products such as cosmetics, beverages, clothes, etc. It is also used in barbing, hair salons and different other businesses in our communities. Without electricity, we wouldn’t even be able to communicate with our relatives who are living in far away states or distant countries. As president, I would make sure that there is constant power supply or electricity, in our cities and rural and remote areas. Furthermore, unlike some previous presidents we had in Nigeria,who used money meant for the people to satisfy their own personal desires. I, Edward-Dibiana Dumebi, as president, would use the money meant for the people for the people. I would be humble with my dealings with the money and put the needs of the people before my own desires. Finally, I would work on the issue of unemployment. As we all know, the rising rate of unemployed people is forcing the unemployed people to go into a life of crime. As president, I would provide skill acquisition programmes for the youth who just finished NYSC and are searching for jobs in order for them to use the skills learnt to start their own businesses. By doing this, they would employ more young people to work for them, therefore reducing the number of unemployed people in Nigeria. As you can see, insecurity is the cause of almost all the problems we are facing in Nigeria. If we can stop insecurity, Nigeria will become a better country. * Dumebi is a 10-year old JSS 1 student of the Command Day Sec. School Abuja. She made this presentation at the Children’s Church of the House of Destiny, Redeemed Christian Church of God (RCCG), Abuja. https://365daily.com.ng/2021/10/01/opinion-nigeria-61-what-ill-do-if-i-were-president/
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thesicilian:Amen! |
M |
Agbalowomeri: Agbalowomeri:Tuesday, July 10, 2018 Nigeria: Sustained market rally requires domestic retail investors Dear Africa interested professionals: On April 25, 2016, I wrote an article (can be found as the featured post on this blog or using the search function) and stated that the domestic retail investor will determine the performance of the Nigerian stock market. 2018 has brought more evidence to buttress my assertion. The Nigerian stock market’s most ignored and maligned customer base is the domestic retail investor. This largely ignored customer base determines how the stock market in Nigeria will perform. In January 2018, domestic retail investors put N106.5B in the Nigerian stock market and the stock market rose approximately 16%. The contribution of domestic retail investors has not even reached half of that figure per month from February to June 2018 and the Nigerian stock market is now in negative territory at approximately 1.6%. Total foreign portfolio investment from January - May 2018 rose by 121% compared to the same period in 2017. Domestic institutional investment only rose by 58% over the first five months of 2018 relative to the same period in 2017. If domestic investors do not believe in the viability of their own stock market buoyed by the non-exposure to currency risk, foreign portfolio investors will continue to trade stocks rather than invest in stocks. Domestic institutional investors need to increase their stake in the Nigerian equity market if market stability is to be a sustained reality. Domestic retail investors need to be encouraged to invest more funds more frequently and consistently, if all investors are to experience gains from a sustained market rally. The Nigerian ASI peaked in March 2008 driven by an all-time high number of domestic retail investors in the Nigerian stock market that started in early 2007. The stock market ended up down by 45.8% in 2008 driven by foreign portfolio investors fleeing. The Resource Curse is afflicting Nigeria to a large extent. The Foreign Complex Curse is afflicting the Nigerian stock market courtesy of the brokerage firms. More attention and resources continue to be devoted to the foreign investor that is not able to generate a sustained upward rally in the stock market but is continually sought out for this purpose. It is time to look inward; the road to significant financial gains lies with the domestic retail investor. This is a fact; not feelings. By Jude Fejokwu www.judefejokwu..com |
mendes911:Wednesday, October 26, 2016 SEC Nigeria stands up for the Retail Investor Dear Africa interested individuals: On Monday, April 25, 2016, I wrote an article on this blog titled: "Nigeria All-Share Index: Retail investors will determine how it moves." I have been a vocal proponent of retail investors being given the necessary support to return in droves to the Nigerian stock market and for their outstanding grievances to be addressed e.g. the dividends not yet paid out for banks that were taken over by the Central Bank (Bank PHB, Afribank etc) during the tenure of Sanusi. Where is the money? No one is talking. The Nigeria Stock Exchange (NSE) leadership has a different opinion. Retail investors should be pushed to invest indirectly in the marketplace by investing in mutual funds instead of directly purchasing equities into their own accounts. Some mutual fund companies were even engaged by the NSE to do investor education (of course marketing their funds) to retail investors to drive this agenda. I have been and will remain adamant that the Nigerian stock market needs retail investors to en masse return to the stock market with whatever amount they have in their possession if the market wants to be even keeled. The Nigerian stock market achieved its highest index value in March 2008; this is also when foreign investor participation peaked. Foreign investors were in when the market achieved its all-time high and the market has been on a topsy turvy decline since then. Retail investors drove the market between the second half of 2006 through 2007, not foreign investors. The alienation of retail investors through a variety of unfavorable policies and business decisions has been the bane of the NSE All-Share Index performance over the years. There are other reasons, but, the alienation of domestic retail investors directly and indirectly is the foundation of the market's decline. Where are the foreign investors that were waiting to jump in with their millions of dollars after the naira depreciated in 2016? More importantly, the index performance is still in negative territory. Nigerian Bank price-earnings ratios are collectively the lowest in Africa. No foreign institutional investor appears to be excited enough to invest heavily over a sustained period of time despite the relative cheapness of bank stock prices. So what's missing? In a hyper-inflationary environment, the best way to protect yourself (besides buying things in bulk instead of piece-meal) is to invest in equities. Despite this, market participants in Nigeria (brokerage houses and investment banks) continue to ignore their own and seek foreign intervention in their market. There is a proverb in Nigeria translated means "what you need that takes you far and wide in search of is actually right next to you." Retail investors must be brought back and given the much needed platform to invest wisely and directly! Their grievances from the boom and bust of 2007 & 2008 must also be addressed. I am happy the Securities and Exchange Commission (SEC) of Nigeria has formally announced a plan to open up the stock market to retail investors. The SEC said the lack of adequate retail investor participation has subjected the stock market to extreme fluctuations driven by foreign investor market participation volatility. I will keep standing up for what I deem to be logically right even if unpopular. The SEC has finally aligned with my stance and has set the ball in motion. I am thrilled though, this is just the beginning. When you keep shouting, one day someone worthwhile will listen. Such is life; patience is a virtue. Retail investor, your cry is gradually being heard. I stand with you and always will. Tell others to tell others about this Africa Research Blog; the financial TRUTH is here. By Jude Fejokwu www.judefejokwu..com |
