₦airaland Forum

Kenya is borrowing again via Eurobonds to pay off maturing Eurobond but borrowing at very high rate (9.9%).

fineboynl:
.which food have come down compared to last year? Please i meed just one or two?

He just mentioned maize, rice, and flour.

The .@FT just released its list of Africa’s Fastest-Growing Companies for 2025.

Nigeria and South Africa dominate, accounting for 79 out of 130 companies.

https://www.ft.com/content/1cae5285-ed13-47f4-ab24-81f58b535c07

Nigerian non oil exports increasing.

APM Terminals Apapa Records 31.5% Surge in Exports

APM Terminals Apapa has reported a remarkable 31.5% increase in export volumes for April 2025—its highest monthly figure since operations began in 2006. The terminal handled 8,687 twenty-foot equivalent units (TEUs) of export cargo, up from 6,606 TEUs in April 2024, underscoring a major milestone in Nigeria’s growing export momentum.

The significant uptick reflects years of sustained growth and strategic investment in export infrastructure, according to Terminal Manager Steen Knudsen.

“It’s advantageous for Nigerian shippers when ships depart our ports fully loaded with exports. Preventing ships from leaving empty positively influences the overall cost of shipments into Nigeria,” he said.

Knudsen attributed the growth to targeted operational improvements and alignment with national economic priorities.

He said, ““Our aim aligns with the Federal Government’s vision of transforming Nigeria into an export-driven economy. To support this, we launched a new rail service in February to expedite the movement of goods from the hinterland to Apapa port.

Additionally, we’ve expanded our yard capacity for exports and introduced dedicated truck lanes to streamline the process, reducing the time exports spend in the terminal and ensuring timely ship departures.”

This kind of news may just push oil prices towards the $70 per barrel mark soon again. Also it seems Libya may be having some kind of internal conflict again.

megawealth01:
FTNCOCOA

Cocoa just crossed the 10,000 dollars mark early this afternoon. It’s gone down to 9900 again though.

Nigeria is one out of the only three African countries that host companies worth over 1 Billion dollars despite the massive naira devaluation in 2024

Africa remains a marginal player in the global landscape of billion-dollar companies, accounting for just 1% of the world’s firms valued at $1 billion or more.

These companies are overwhelmingly concentrated in only three countries: South Africa, Nigeria, and Egypt—reflecting a stark imbalance in the distribution of capital, infrastructure, and investor confidence across the continent.

According to a report by McKinsey & Company, these billion-dollar companies operate across all major sectors, but six industries dominate the revenue landscape, collectively accounting for 70% of total earnings.

These are oil and gas, mining, retail and consumer goods, financial services, manufacturing, and telecommunications.

South Africa leads with 43 billion-dollar firms, supported by a well-established financial sector, deep capital markets, and a number of long-standing conglomerates.

Nigeria, despite persistent macroeconomic challenges, is home to one billion-dollar company—an achievement largely driven by the growth of its fintech sector and expanding digital economy.

Egypt also hosts a single billion-dollar firm, benefiting from its strategic location and diversified industrial base, which continue to attract both regional and international investors.

Although Africa’s overall share remains small, the existence of these high-value companies highlights the continent’s untapped potential. As digital innovation accelerates and more governments pursue structural reforms, there are growing opportunities for broader corporate growth.

You can check 🇳🇬 stock market without the internet. Dial *5474# and see the latest stock market information

- Olumide Adesina

AkoniMoipei:
The fall is not sudden but gradual, starting immediately after you rebased. Nigeria's GDP is just about in its proper place right now at around 180B — The Kenyan GDP is almost catching up at 131B. In fact if Tinubu does not pull up his socks the catchup will be complete before the decade ends. Whichever the case, dont confuse exchange rate dynamics and rebasing, the latter is done to keep up with the evolution in prices. Your president's decision to let the local currency float freely has seen naira lose 70% of its formerly artificially high value, which is exactly what we are seeing because your GDP has dropped nearly 70% from the heydays of the 2014 rebase. Just a point of note, you could have a trillion dollar GDP and I would not say its fake, even though I know it is. I never said so when it was 576. GDP is a very artificial number that depends heavily on how you measure it — exchange rates, inflation adjustments, and rebasing can all drastically shift the figure without reflecting any real change in people’s daily lives.

This is thesame economy that supposedly dropped so much in 2024.

The World Bank has said that Nigeria’s economy recorded its fastest growth in about a decade in 2024, driven by a strong fourth quarter and an improved fiscal position.

During a presentation on Monday, the bank’s lead economist for Nigeria, Alex Sienaert, said Nigeria’s economy grew by 4.6% year-on-year in the fourth quarter of 2024.

Quoting high-frequency business indicators, he said the economy continued to expand in early 2025.

He, however, warned that persistently high inflation remains a challenge.

MTN Group's Q1 2025 results are in, and Nigeria is back in business.

The Group posted a 10.4% and 17.9% increase in service and data revenue, respectively, with standout performances in Nigeria.

After years of navigating economic headwinds, MTN Nigeria's service revenue surged by an impressive 40.4% year-on-year.

This growth follows the implementation of a long-debated tariff hike approved by Nigerian authorities this year, the first such hike in over a decade.

“From a regulatory perspective, we were pleased with the approval of price adjustments for telecom operators in Nigeria, which the business started to implement from mid-February 2025, with the majority of adjustments taking effect in March,” notes MTN Group CEO, Ralph Mupita.

The tariff hike faced initial resistance, including public backlash and labour union protests. But the telcos prevailed, arguing it was a response to the challenges faced by telecom operators amid high inflation and currency devaluation.

MTN Nigeria's CEO, Karl Toriola, noted that while the full impact of the new tariff structure will be realised in subsequent quarters, early indicators suggest continued resilience in customer demand.

This strong performance was significantly buoyed by exceptional growth in MTN Nigeria, which recorded a remarkable 40.4% increase in service revenue. MTN Ghana also contributed substantially with a 39.5% growth in service revenue.

vaxx:
unproductive journalism. You don't even have the report .


9ja always behave like a babyy in need of mummy breast milk .

Anyway, for the first time in about 20 years , Nigeria might be paying for using Ghana keys on lotto numbers. It is entirely more or less free in Nigeria back then. Imagine it is the other way round, nigerians will have taken it up the street like this your non ending gas debt case..

Come on now. 31 million cedis owed by 2 countries. That’s not even up to $2 million in total.

Ghana should pay all her gas debts to Nigeria so we too can also effectively improve local demand😀

Benin, Togo, Niger also use Nigerian gas for years without paying yet they turn around to mock us that we have no electricity.

“Notably, in February, the Ghanaian government announced plans to negotiate with Nigeria's N-Gas Limited to settle a $37.5 million payment, part of the outstanding debt for gas supplied to Ghana's power plants.

However, the Managing Director of N-Gas has not confirmed or denied whether the payment was made”.

Just40:
your gdp shouldn't drop this much because of devaluation

I think it makes sense to me now thinking about it. In late 2022 and early 2023 your inflation continued to climb fast even to over 54% at a point. Nigeria’s inflation climb was steady but slower. Also, with Argentina, their inflation climb to circa 200% was almost at thesame pace with the devaluation of the currency in 2024. This means their dollar gdp was still connected to their currency gdp. In Nigeria, prices in general do not move at thesame pace as the devaluation immediately but over time.

So for instance if a piece of land cost 400,000 naira when naira was 400 in 2022, that land would have been $1000 then as well. In 2025, with naira at 1600, that Land should now be x4 which would be 1.6 million naira to make it remain at $1000.

But in Nigeria, you would probably find that the land has increased only x3 at most in several of these instances and for some x2 or x2.5.
So the land only increased to 1.1 or 1.2 million since 2022 (when it should have increased to 1.6 million at once with same volume of purchases or consumption). So the dollar value of the land still decreases by that much even though the naira value has grown tremendously.

In that situation, it would only take a few quarters for prices and consumption volumes to match up again especially if the currency becomes stable like we saw in 2018 and 2019 in Nigeria after a rough 2016.

We already began to see huge consumption and profits in over 90% of Q1 2025 results across all sectors. That shows price increase is catching up (e.g telcos only increased their prices in February 2025 for the first time since 2013 despite all the inflation and devaluation) and it also shows consumption power is growing again from low levels of 2023 and 2024 due to slight wage adjustments across board especially by the private sector and some states.

AkoniMoipei:
The fall is not sudden but gradual, starting immediately after you rebased. Nigeria's GDP is just about in its proper place right now at around 180B — The Kenyan GDP is almost catching up at 131B. In fact if Tinubu does not pull up his socks the catchup will be complete before the decade ends. Whichever the case, dont confuse exchange rate dynamics and rebasing, the latter is done to keep up with the evolution in prices. Your president's decision to let the local currency float freely has seen naira lose 70% of its formerly artificially high value, which is exactly what we are seeing because your GDP has dropped nearly 70% from the heydays of the 2014 rebase. Just a point of note, you could have a trillion dollar GDP and I would not say its fake, even though I know it is. I never said so when it was 576. GDP is a very artificial number that depends heavily on how you measure it — exchange rates, inflation adjustments, and rebasing can all drastically shift the figure without reflecting any real change in people’s daily lives.

The fall in 2023 was sudden. In 2015/2016 there was a recession due to change in Government (leading to capital flight for some reason) and low oil prices at $30. After the recovery, it picked up again until another recession in 2020 then picked up again in 2021 when the economy grew by 3.4%.
In 2023, there was no recession. We grew by circa 2.8% and in 2024 we grew by 3.4%.

So only 2023 and 2024 are strange in dollars gdp growth. These have nothing to do with 2014 rebasing but sudden devaluation in 2023/2024.

Unlike Argentina which had over 100% inflation to match their devaluation, our inflation only gradually increased, while our GDP PPP grew faster so the dollar lost its connection to the naira growth.

My point is that all that can change almost as quickly as well.

Analogy:

“Say a piece of land cost 400,000 naira when naira was 400 in 2022, that land would have been $1000 then as well.
In 2025, with naira at 1600, that Land should now be x4 which would be 1.6 million naira to make it remain at $1000.
But in Nigeria, you would probably find that the land has increased only x3 at most in several of these instances and for some x2 or x2.5.
So the land only increased to 1.1 or 1.2 million since 2022, when it should have increased to 1.6 million at once.
Hence, the dollar value of the land still decreases by that much even though the naira value has grown tremendously”.

Continuing from the analogy above, we can say it would only take a few quarters for prices to match up again with thesame consumption volume across board especially if the currency becomes stable like we saw in 2018 and 2019 in Nigeria after a rough 2016.

We already began to see huge consumption and profits in over 90% of Q1 2025 results across all sectors. That shows price increase is catching up (e.g telcos only increased their prices in February 2025 for the first time since 2013 despite all the inflation and devaluation) and it also shows consumption power is growing again from low levels of 2023 and 2024 due to slight wage adjustments across board especially by the private sector and some states.

AkoniMoipei:
Which figure? I quoted the entire trend and highlighted two significant areas showing the GDP fell from a high of over 500B when you rebased on 2014 to a low of 188 this year, is that outdated? You might need to rebase again or tell your president to do his f#cking job!

Does it make sense to you that GDP fell so suddenly only in 2023 and 2024? It’s simple exchange rate dynamics at play. When we rebase again or allow our inflation and purchasing power catch up completely with the devaluation in just a few months or years, the GDP gets back to circa 500 Billion dollars suddenly again, then you’ll come here saying the figure is fake.

vaxx:
UK, Germany, USA and some other organized European country will not make you a millionaire in those country currency but it will make life easy for you and soft for your loved ones too.

The purpose is to escape poverty, give your family a good life. Anything outside it shouldn't concern you.


Now used the same analogy in this context.

Why are you guys fond of comparing an African country like Ghana to UK, US. It’s not thesame scenario. The average pay and minimum wage in those countries means their purchasing power matches up with the high value of the currency. This is not the case with Ghana.

do4luv14:
Give reason as to why sir

Ordega of today is not the Ordega of 2018.

As for the Oparanozie like striker, I am yet to be convinced she is a super falcon material judging by the few games she played at AFCON and given the fact that I don’t rate any league outside Spain, England, France and USA for now in the women’s game. In that sense, I can only judge her by the few moments given to her in AFCON. This is why we need more friendlies though. We could try her first in a friendly.

do4luv14:
What about Chinoyerem MacLean
Franny ordega

Both not needed honestly in my opinion.

Ogun State Governor, Prince @DapoAbiodunCON commissioned Nigeria’s first large-scale rapid diagnostic test (RDT) production facility, established by CODIX BIO Limited along the Sagamu expressway.

The factory, which is the second of its kind in Sub-Saharan Africa, is set to produce over 147 million test kits annually for HIV, Malaria, and Hepatitis B and C.

Governor Dapo Abiodun described the facility as a major leap in Nigeria’s healthcare innovation, aligning with President Bola Ahmed Tinubu’s Renewed Hope Agenda aimed at reducing dependence on imported diagnostic tools.

According to the World Health Organization, over 90% of diagnostic kits used in Africa are imported, primarily from Europe, Asia, and North America.

The Minister of Health and Social Welfare, Prof. Ali Pate Muhammad, and Minister of Education, Dr. Tunji Alausa, praised the Governor’s leadership in fostering industrialization and healthcare investment. They called for stronger collaborations between CODIX BIO and academic institutions to develop biomedical talent and expand health innovation.

CODIX BIO’s CEO, Mr. Sammy Ogunjimi, revealed that the facility has been selected by the WHO, SD Biosensor, and MPP under the H-TAP program to serve as a regional manufacturing hub for Africa. The initiative is expected to improve healthcare delivery, create jobs, and enhance Nigeria’s capacity for disease control and early diagnosis.

ItGeek:
To the Ogas in the house, if you are faced with a choice of buying one of PRESCO/OKOMU, which will you choose and why ?

Presco. They now have a branch in Ghana and could still expand into other African countries.

Aliko Dangote, Africa 's richest man owns and operates a wide range of factories across various industries under the Dangote Group across Africa.

These factories include cement plants, a large oil refinery, sugar refineries, salt refineries, flour mills, and packaging facilities.

Key Factories and Industries:
✅Dangote Cement is the largest cement manufacturer in Africa, with multiple plants across Nigeria and other African countries.

✅Dangote Refinery, inaugurated in May 2023, is the largest single-train refinery in the world, designed to process Nigerian crude oil.

✅Dangote Sugar Refinery is one of the largest sugar producers in Nigeria and Africa.
National Salt Company of Nigeria (NASCON), a subsidiary of the Dangote Group, manufactures and markets salt for industrial and domestic use.

✅Dangote Flour Mills PLC is a significant player in the flour milling industry in Nigeria.

✅The Dangote Group owns and operates a granite mine in Ogun State, Nigeria, for construction purposes.

✅Dangote Sinotruk West Africa Limited is a joint venture with Sinotruck, focused on assembling various types of trucks.

✅Dangote Tomato Processing: launched Africa’s largest tomato processing factory in northern Nigeria, a USD 20 million project that promises to reduce Nigeria’s reliance on imported tomatoes, create jobs, and support local agriculture.

With over 30,000 employees, he is among Africa's Leading individual Employer.

(Copied from X)

Dutse Jigawa State.


https://www.youtube.com/watch?v=xvRzzvC2ykY?si=u3AXVn_b63fA_EB3

Dangote Tomato

https://www.foodbusinessafrica.com/dangote-group-launches-africas-largest-tomato-processing-facility-in-nigeria/

The need for a domestic tomato processing facility has become increasingly urgent as Nigeria consumes an estimated 2.3 million tons of tomato paste each year but relies heavily on imports, primarily from China.

Each year, Nigeria spends USD 360 million importing about 300,000 tons of tomato paste from abroad.

Aliko Dangote, president of the Dangote Group and Africa’s wealthiest man, saw an opportunity to change this dynamic.
“This factory not only meets domestic demand but sets a benchmark for what Nigerian agriculture can achieve,” Dangote said at the factory’s unveiling ceremony.

The new Dangote plant is expected to produce over 400,000 tons of tomato paste annually, which will drastically reduce Nigeria’s need for imports.

In addition, the Dangote Group has set up a N3 billion greenhouse nursery in Kano designed to produce between 300 and 350 million tons of hybrid tomato seedlings.

This greenhouse aims to supply farmers with high-quality seedlings, further enhancing the country’s tomato production capabilities.
One of the facility’s primary goals is to reduce the staggering post-harvest loss of tomatoes.
Nigerian farmers currently produce approximately 1.5 million tons of tomatoes each year, but around 900,000 tons—more than half—end up rotting due to a lack of storage, processing, and transport infrastructure.
This facility promises to change that reality, ensuring a larger portion of harvested tomatoes reach consumers.
The plant sources its raw tomatoes primarily from farmers in the Kadawa Valley, providing them a guaranteed price of USD 700 per ton.
This is a significant increase compared to the average USD 350 per ton that farmers typically earn, and it offers a dependable income stream.
By providing a secure market for farmers and encouraging local production, Dangote’s factory reduces the rural exodus and boosts the local economy.

Another big move by Aliko Dangote:

“I am thrilled to announce the official launch of our state-of-the-art tomato processing plant in northern Nigeria, proudly standing as the largest in Africa. After five years of dedication and a significant investment of $30 million, we have achieved more than just a facility. We have created hope for our farmers, a solution to reduce our reliance on imports, and an opportunity to generate thousands of local jobs.

This milestone marks a significant shift for Nigeria, saving $40 million annually on tomato paste imports. By retaining this capital within our economy, we are investing in our people and fostering sustainable growth.

Our vision is clear: to invest in Africa, for Africans, and build self-sufficiency. Together, let's develop our continent and shape a brighter future for generations to come”.

vaxx:
The current Trump tarrif affected 60 or more countries and Ghana is not exclusive . Do you even know Ghana and Nigeria has nearly the same structure of economy. I mean the remittance inflows and export on earning on natural resources are nearly similar .Ghana also earn on the same oil even though it is insignificant compared to Nigeria. Apart from commodity like gold and cocoa, I do not see much difference.

Ghana is currently introducing fiscal and monetary policies which is given the investors confidence in keeping their money here therefore shoring up stability in the economy.


And again, dollar is currently weak globally apart from Nigeria and some few others countries. Dollar is currently falling against major global currency. This is also creating a favourable conditions for emerging market currencies like the cedi too.


So naira needs to also improved on its fundamentals



You are yet to exapansiate on I what I asked you to do

Lots of balderdash but I would ignore (no time to argue). I made a point which you are ignoring.

Ghana could no longer service her debts in 2022 and defaulted. Because of this, most of your foreign debt servicing have been paused since early 2024 at least. The question is why has cedis been struggling even with all these?

zendi:
What is the effect of crashing crude oil on Nigerian Stock Market, given the role of oil in the economy?

Bull, Bear or Neutral?

There are professors of economics and top notch market analysts here.
Time to speak up.
Portfolios and networths could be in danger.

National budget is typicallyly benchmarked on $75/barrel oil price.
Oil is right now at around $60 and, I'm sure, headed down.

Govt is the biggest spender in the economy, and right now is already in deficit budget.

So what next?

Is it foreign investors that will come and mop cheap stocks when liquidity dries up in the market?
Or will Govt resort to borrowing to fund the budget and keep the economy bouyant until our precious oil recovers?

Government may likely do forward crude oil sales again (like in COVID). This time it might be up to $11 Billion.
If Dangote is liquid, I would say we renegotiate with those we did forward sales with and Dangote buys up some of the long term forward crude oil sales we already have.
Budget would also have to be reviewed and cut down and capital projects ran strictly by the private sector or FDI.

vaxx:
exapansiate?

American new tarrif also affects Ghana

Affects Ghana in what way compared to reduction of crude oil prices? Hasn’t gold been climbing? Your biggest export is gold which has been on the rise coupled with the fact that you service very little foreign debts.
Nigeria’s biggest export is crude oil by far (which has been falling), so what do you expect?

vaxx:
I was even told from a reliable source that naira is trading at about 115 to a cedis .

Naira is 1590/1600 to USD. It was 1500/1530 for about 3 months until Donald Trump’s tariff issues early April which spiked our Eurobond yields from about 9 to 13% due to investors fear of low oil prices. The continuous low oil prices as well means our Central Bank may try to maintain at 1600 levels for a while.

Ghana on the other hand, is under an IMF program and free from a lot of foreign debt servicing (for now until 2027) which gives you a chance to boost your reserves and strengthen your currency but I don’t know what’s happening.

vaxx:
good investment for Dangote foresight.

100 cedis is now 12 thousand naira and 10,000 cedis is now 1.2 million naira.


There is a whole of money to recoup back home for Dangote and a good job opportunity Ghanaian youth. A win win for both countries

I expected cedis to be strong months ago given the high gold prices. So good one.

The Dangote Group is set to construct a sugar refinery in Kwame Danso, in the Bono Region. The facility will boast a daily cane crushing capacity of 12,000 tons and will support irrigation across 25,000 hectares. The refinery is anticipated to produce sugar, molasses, and ethanol.

@vaxx, @Just40.

Good news. This would kick off alongside Dangote’s ongoing $700 million sugar investment in Nigeria

ositadima1:
I want to see the actual figures and workings—not politically motivated defenses.

This is BUA foods for example. Convert to dollar yourself using 1550 and 750.

For 450, it would be a slight loss. (So I correct my earlier assertion (if we are to use Q1 2023)).

Q1 2023 profit after tax 40.4 Billion naira.

Q1 2025 profit after tax. 125.8 Billion naira