₦airaland Forum

Heishere:
Stop posting rubbish here

- May & Baker Nigeria Plc reported a profit before tax of N8.92 billion for the nine months ended September 2026, representing an increase of 81.5% from N4.92 billion in the corresponding period of 2025.

- Japaul Gold and Ventures Plc recorded a profit before tax of N1.50 billion for the nine months ended September 2026, representing an increase of 202.3% from N496.22 million in the corresponding period of 2025.

- HBM Nigeria Plc recorded a 32.4% increase in pre-tax profit to N414.43 billion for the nine months ended September 30, 2026, compared with N313.29 billion in the corresponding period of 2025, supported by lower finance costs and improved operating margins.

- NEM Insurance Plc recorded a 30.54% increase in pre-tax profit to N31.02 billion for the nine months ended September 30, 2026, compared with N23.77 billion in the corresponding period of 2025, supported by stronger insurance operations and investment gains.

- Seplat Energy Plc reported a pre-tax profit of N1.34 trillion in its unaudited financial results for the nine months ended 30 September 2026, representing an increase of 52.75% from N878.99 billion recorded in the corresponding period of 2025.

- Zichis Agro-Allied Industries Plc (ZAAI) recorded a 179.21% increase in pre-tax profit to N561.32 million for the nine months ended September 30, 2026, compared with N201.04 million in the corresponding period of 2025.

- VFD Group Plc reported a pre-tax profit of N15.34 billion in its unaudited financial results for the nine months ended 30 September 2026, representing an increase of 91.86% from N7.99 billion in the corresponding period of 2025.

- Ecobank Transnational Incorporated (ETI) reported a pre-tax profit of N1.01 trillion for the nine months ended September 30, 2026, representing a marginal decline of 0.41%[font=Lucida Sans Unicode][/font] from N1.015 trillion in the corresponding period of

- Sterling Financial Holdings Company Plc reported a pre-tax profit of N97.28 billion in its unaudited financial results for the nine months ended 30 September 2026, representing an increase of 37.09% from N70.96 billion recorded in the corresponding period of 2025.

- Fidson Healthcare Plc recorded a 49.47% increase in pre-tax profit to N17.79 billion for the nine months ended September 30, 2026, compared with N11.90 billion in the corresponding period of 2025, as foreign exchange losses declined sharply.

- Dangote Cement Plc reported a pre-tax profit of N1.47 trillion for the nine months ended September 30, 2026, up 41.5% from N1.04 trillion a year earlier. Profit after tax rose 31.2% to N974.79 billion, with earnings per share at N58.37, up from N43.82.

- TotalEnergies Marketing Nigeria Plc returned to profitability in the nine months ended September 30, 2026, reporting a pre-tax profit of N8.02 billion against a loss of N11.92 billion in the corresponding period of 2025, as finance costs declined by 40.13%.

mikeapollo:
It has been rainingi n Nigeria for sometime now.
I guess you would say it is because of Tinubu's Climate "reforms"

Reforms are everywhere my friend. Open your eyes to see them.

Just going through the nairametrics Twitter page reading 9 month reports of several companies across different sectors. Every company has declared profit above what they declared in the corresponding period of 2025 (some by even wide margins).
Out of about 12 - 15 companies I have seen so far, only Ecobank had almost thesame profit like in 2025 (a marginal decline), the rest made insane profits over 2025.
Even Ecobank must have gained in dollar terms and only marginally declined in naira terms (something unheard of by any firm in 2024 or even 2025).

Reforms plus Ote wonder:

“FirstBank of Nigeria has partnered with electronics retailer Pointek to enable eligible customers to purchase smartphones, laptops and household appliances through instalment payments under its FirstEase buy-now-pay-later product.”

mikeapollo:
Oil and Gas ''reforms''?

Of course.

Seplat Energy Plc, one of Nigeria’s leading indigenous energy companies, has announced the discovery of an estimated 157 billion cubic feet (Bcf) of natural gas and 19 million barrels of oil in place at its Aku-01 exploration well in Nigeria.

awesomeJ:
Again with production cost at just $16, how's NNPC that doesn't evn operate consistently reporting $40

Good question. Corruption in NNPC of course but I believe Seplat now have 65% of their operations offshore so less security risks but that of course doesn’t explain it all.

Agbalowomeri:
Dream Analysis

The post-election bull will be massive

In the case of a new Government, the market may be quiet for a few months post election to be clear on the policy direction of the new leader.

Good news for the stock market:

Nigeria generated ₦31.46 trillion in shared revenue between January and September 2026, surpassing the full-year total for 2024.

According to Agora Policy, the Federal Government received ₦7.35tn, states ₦7.01tn and local governments ₦4.92tn.

Revenue is rising in nominal terms, though volatility and weaker-than-budgeted mineral earnings remain concerns

awesomeJ:
I saw some folks on Twitter mocking Alhaji for "hawking" refinery IPO at open markets.

First, why the discrimination to people in open markets, are these tweeters better than them? There are actually people in open markets that will feed some tweeters for a whole year comfortably.

Now these novices have probably never set and achieved any goals in their lives, yet they're making jest of a group that now singlehandedly controls about 25% of the nation's GDP.


What's the outcome of Alhaji's efforts.

10 million sharelolder target set, 17 million hit (reportedly).

If the stock lists on a Monday, I expect to exit by the Friday with 40%. except the bids still stay strong, then I might shift target to 60%.

I don’t know the methodology for the 17 million shareholders but I saw someone quote a Reuters report citing 2 million unique shareholders.

FX reforms

“Visa Card holders in Nigeria can now use Google Pay for fast, secure digital payments

Visa, a world leader in digital payments, applauds the launch of Google Pay by participating financial institutions in Nigeria, supported through Visa’s partnership with Google. Eligible Visa cardholders of participating financial institutions can now securely add their cards to Google Wallet and make fast, convenient, and secure payments across millions of contactless acceptance points and online merchants.

The launch by participating financial institutions marks another significant milestone in Nigeria’s digital payments journey, providing consumers with a simple and secure way to pay using their Android devices. By adding their eligible Visa cards to Google Wallet, users can tap to pay in stores, make purchases online, and enjoy a seamless payment experience across Google’s ecosystem.”

MEGAWEALTH02:
Anyone buying stocks purely for investment purposes should get mind, sha, unless na JIJO levels. 😂

I stopped buying stocks months ago, and I’ve been watching things closely.

2027 things no be play. Some people are not paying attention, but una no go hear word. When the signs are there, wisdom demands that you pay attention and position yourself accordingly.

Time will tell. 🤷‍♂️

We heard way worse in 2015 and 2023.

mikeapollo:
People even use the airtime to hustle to get something to buy food to eat.
An example is dispatch rider who needs to have airtime on his phone to contact customers and deliver their parcels. Such a person cannot work without airtime. Does it mean he is rich?

Dispatch rider may not be rich but he is not a hungry man (the class of people who can’t get their next meal and need Govt interventions). Except hungry used by you here is hyperbolic.

mikeapollo:
Even today, people who are just struggling, use phone as tool in their daily work to earn a living

So you are saying a hungry man who is starving would use his last change to buy airtime and not food?

MEGAWEALTH02:
Well, one of the predential candidate was once the second in command in government; did he convince his boss on this matter when he had the opportunity?

Let’s be factual. My only major concern with Jagaban’s administration is the level of suffering the masses are experiencing. As for tertiary education, no Nigerian is demanding that he should make it completely free, because even among the candidates contesting for the presidency at the moment, I doubt that any would promise to make tertiary education entirely free. Even in the United States, education comes at a cost.

The real issue is not whether Nigerians should pay for tertiary education, but whether the average Nigerian can afford it without being pushed further into poverty. There is a difference between making education free and making it accessible and affordable. My concern is the hardship facing ordinary Nigerians, and that is where the government must do more to ease the burden on the masses.

Is this part of doing more to ease the burden on the masses?

“ President Tinubu has approved a N70,000 monthly transport support for public service workers across all levels for six months, beginning in November 2026, to cushion the impact of rising living costs.

The approval was one of the resolutions reached at a conciliation meeting between the Federal Government, led by the Minister of Labour and Employment, Dr. Muhammad Maigari Dingyadi, and the leadership of the NLC in Abuja on Tuesday, following renewed pressure from organised labour over the cost of living, workers' welfare and outstanding agreements.

The government also approved the payment of peculiar allowance arrears, effective from May 1, 2026, in three equal monthly instalments beginning in November.”

Dupeodus:
I have been reading the political posts with the mind of not contributing. Let me sum my views in response to this post. I do believe that the current administration is the best Nigeria ever had in economic management at the Federal Level (not including the old Western Region) in my lifetime and I am not a young man.

Flesh and Blood have not revealed this unto you.

essentialone:
Once again, at exactly 3.50pm today, Dangote Cement Plc has again been pushed up by 10%

Chai, I should have bought more that Friday

@mikeapollo new update on jobs in the manufacturing sector.

“ Nigerian manufacturing job additions jump 133% to 81,174.

Nigeria’s manufacturing sector added 81,174 jobs in 2025, more than double the 34,769 jobs created in 2024, marking a 133.47.

Nigeria’s manufacturing sector added 81,174 jobs in 2025, more than double the 34,769 jobs created in 2024, marking a 133.47 percent year-on-year increase despite a sharp slowdown in the second half.

The surge in employment was driven by a recovery in factory activity in the first half, supported by a more stable exchange rate for imported inputs, improved business confidence, and a rise in manufactured exports, according to data presented by Segun Ajayi-Kadir, director-general of the Manufacturers Association of Nigeria, at the association’s 54th Annual General Meeting in Lagos.

Job additions totalled 62,906 in the first half of 2025, but fell to 18,268 in the second half, a decline of about 71 percent within six months, highlighting the sector’s fragile recovery.”

deetin:
You already know the truth if we are talking about borrowings and nit wether them print money or them no print money . All na apc

The truth remains BAT has borrowed less than both Buhari and Jonathan in their first term. Anybody can fact check me.

deetin:
I am not pertisan but at the same time I am a Nigerian . So we are both in this .

Now, if you are blaming Buhari that is an apc member , and justifying Tinubu then you are not making sense because Tinubu himself advertised Buhari and APC to his people . they popularized it and they said it is the best thing that will happen To us . Of course we believed it .. now , if you are blaming Buhari for borrowing more than Tinubu then you are not in tune or seeing things as they are …

I am only interested in the truth. Has Tinubu borrowed more than Buhari so far? No, not even close.

ogawisdom:
Nov/Dec/Jan discount season on our annoited stocks will be loud, be prepared to load up on your annoited stocks.

Deep Market correction almost like a crash loading

Dangote listing in December to lift the market cap still

mikeapollo:
[/b]

Theoretically speaking, you may sound correct. But that is where the problem is coming from.
It is better to do the design for the entire project first; and have a complete picture of all the potential issues, challenges, requirements, costs etc.
There is no need to rush if the goal is to serve the nation because any other govt can also come and continue even if this govt is unable to finish it.

The absence of a comprehensive design (before the award of the project), is why they are now trying to adjust the route as a result of difficult terrain. This would have been discovered and addressed at the the design stage.
Now, what they doing is to get onto the site, do a design for 45-50km and build. Then they do another design for the next section 40-50km and build. So they are doing piecemeal design and build. This creates huge problems and makes the project cost, timeline, etc. unpredictable.

We all know the biggest problem with the coastal road is not at the South West terrain but that Bayelsa Delta Edo Ondo axis. You do the design for the Lagos axis and you start. The Lagos - Ogun axis is afterall the most economically important.

mikeapollo:
There is no single engineering design for the project. It is a FACT!
You don't know the correlation?
A comprehensive[b]engineering design[/b] should have captured the full scope of the project; and the costing. The costing determines the total amount to be be spent, which will then be split into what can be accommodated annually in the national budget over the lifetime of the project.
Any amount to be spent in a year should have been captured in the national budget.
That is the correlation between engineering design, costing and the national budget (as far as the project is concerned)
There is no lie in what I said.

This is not the first time a major road is being built in Nigeria, for God's sakke

There is no single engineering design simply means: “We don’t have a single design encompassing the entire project at once but we present the designs by sections”. This was my first understanding when I read even just the headline, I don’t know how you are interpreting it.
If you want to get design for the entire project at the beginning, you may spend a lot of time on design when you could easily begin and close off m the Lagos to Ondo axis which are less challenging.

faoogoke:
No matter how his policies seem good even to him and those supporting him.
There is always a time to pause and reflect on the effect on the populace.
It seems BAT is unwilling. He wont listen either.
I expect him to cap fuel price to between 900/1000 notwithstanding crude oil price.
And this Tax nonsense he is doing, he should pause until the generality of Nigerians start getting relief from whatever good he thinks he is doing for the people.

Good I like how you argue. You have written down your expectations at least. Now if a contestant promises to implement these and you support him, I would understand your position better because you have a weighing scale and milestones.
You are not just complaining and asking BAT to suddenly perform magic to stop the suffering of the masses. You know what you want from him or anyone in that position.

deetin:
During the subsidy era , how’s was the government funding their spendings? Buhari was paying subsidy but he didn’t borrow as much as this present government that removed subsidy and poverty has increased .nothing has improved except on paper … I don’t know how the economy works I guess because that’s the last resort of the enemies of the Nigerian people.

Who told you Buhari didn’t borrow as much as this present Government? Who printed 23 trillion naira in addition to other borrowings?

Dangote’s crude receipts and clean-product exports are both tracking towards their highest levels in Oct ’26, pointing to near-full-capacity utilisation. Tight AB product balances & access to locally available crude are incentivising Dangote to sustain high refinery runs despite surging freight rates.

We are gradually returning to the stability of 2018/2019 (Buhari’s best years) and the glory days of Jonathan (2011 - 2014) .

“ Nigeria’s net foreign exchange (FX) flows rose to $22.50 billion in the second quarter of 2026, the highest level since the fourth quarter of 2019.”

The supplied historical ranking places Q2 2026’s net FX flow of $22.50 billion in 12th position among the highest quarterly figures listed. The latest result is the strongest since Q4 2019, when net FX flows reached $25.08 billion.

The top-ranked quarters in the historical list are:

Q3 2014: $31.93 billion, the highest figure in the ranking.
Q1 2013: $27.86 billion, followed by Q2 2014 at $26.24 billion.
Q2 2013: $25.51 billion, while Q3 2013 recorded $25.14 billion.
Q4 2019: $25.08 billion, the previous benchmark before the latest Q2 2026 figure.
Other quarters in the top 12 include Q4 2013 at $24.12 billion, Q4 2012 at $24.09 billion, Q1 2008 at $23.66 billion, Q1 2019 at $23.28 billion and Q3 2012 at $22.56 billion.

The ranking shows that although the second-quarter result is a notable recovery, it has not returned to the highest levels recorded during the periods listed.“

Niger Republic now have the cheapest fuel in West Africa due to Niger’s subsidy. The Government had to ban exports to prevent scarcity. Those at the Northern borders with Nigeria might still smuggle into Nigeria to make some cool profits.

ositadima1:
My friend, you can’t call my calculation wrong, just as I can’t call yours wrong, because they are both estimates. The difference between us is that I clearly stated mine was an estimate, while you presented yours as fact when you celebrated and said, “Business is good for Alhaji.”

Learn not to present estimates as facts, so you don’t end up misleading people.

Because mine is way closer to the fact than yours and based on actual numbers we can verify in September ie Dangote did not sell at 900 naira per litre in September but definitely between 1300 and 1350 per litre on average. Naira did not average 1500/$ in September but definitely around 1325 - 1350/$ making $0.98 sales more plausible.

ositadima1:
You said, and I quote, "Dangote made $3.1 Billion from these products in September only." Now you are sneakily bringing in revenue, LOL, lying and passing it off as fact. Show us the full calculation; let's see it. By the way, do you know that I can make one million Naira in revenue and still end up with less than 100 thousand Naira in profit?

So you admit you were wrong in your calculation right? That’s the first step. Everyone who can read would know from my first post on the sales in September based on my quotation of the NMPDRA report that I was writing about revenue. Nowhere did I mention profit in my write up but you would clearly see revenue in my prior post.
I can say MTN made 5 trillion naira as revenue. That doesn’t mean it’s Gross or Net profit and everyone with eyes who read my prior post to that would know that $3.1 Billion made by the firm was revenue.

How is this complicated for you?

You are asking for the calculation and I just gave you the calculation in this post you quoted where I debunked your calculation because you used 900 naira per litre and 1500/$ to arrive at your figure. So you are the one who’s clearly wrong. Rather than admit that, you ignored it to debate revenue and profit.

Your wrong calculation wasn’t it based on revenue? It means you knew I was writing about revenue from the beginning so why the gaslighting?

megawealth01:
AI isn't 💯 true. FACT is AI tell lies sometimes

That's why you must always FACT check every info

But I just explained the calculation for you. Compare my calculation to his and then come back.

ositadima1:
Show the AI's worked-out calculation; let's see how $3.1 billion was made in September alone. Stop lying with your tongue.

Let's do the maths using reasonable assumptions.

September petrol revenue estimate (30 days):

• Domestic sales: 28.5m litres/day × 30 × ₦900/litre = ₦769.5bn.

• Exports: 15.47m litres/day × 30 × $0.70/litre = $324.87m.

Assuming an exchange rate of ₦1,500/$, domestic sales equal $513m.

Estimated total petrol revenue: $838m for September.

This excludes diesel, aviation fuel and other products. It also assumes the stated volumes were sold at the assumed prices.

Profit is a different calculation. We would need crude oil/feedstock costs, refining and operating expenses, logistics, financing and other costs to estimate net profit.

Therefore, the $3.1bn claim cannot be established from the petrol figures alone.

You used 900 naira per litre and 1500/$ for September 2026, yet you are the one calling me a liar?

For Petrol my AI added 28.5 million to 15.47 million litres to get around 43 million litres. You then multiply that by 30 days to get approximately 1.32 Billion litres of petrol alone that was sold. Multiply that by an average cost price of $0.98 per litre or 1310 naira per litre (not 900 naira per litre) to get around $1.29 Billion realized as revenue from petrol sales alone in September.