₦airaland Forum

ositadima1:
Most of the revenue/profit growth you folks are celebrating—I've read how Agba is praising the heavy returns in the consumer sector—I have just one question: Have you converted those returns to dollars and compared them with previous years’ returns using the exchange rates of those times? Which one do you think is better?

To me, it looks like we're seeing more money that’s worth much less.

And before anyone launches an attack saying “we spend in naira,” let me ask: how many made-in-Nigeria items do you actually own, aside from a few consumables?

It’s actually quite funny. Someone who used to earn ₦20 million a year before the Tinubu and Buhari administrations could afford a decent car and still live comfortably. Today, that same ₦20 million might only buy a car—if your taste isn’t even that high.

So, Brother EmmaOdet, while you’re sharing all this profitability news, please do us a favour: convert the figures to dollars—using the old rate (below ₦700) and the current rate (around ₦1,600)—so we can make a more meaningful comparison.

Thank you.

Some are still better in dollar terms. I may be wrong but I even did for Cadbury compared to Q4 2022 and it was thesame in value. The likes of BUA foods have surpassed what they were in 2022 even in dollar terms which means they are now making real profits.
Note : I used the old official rate of 450. If I use 750, then a good number of them have made real profit in Q1 2025.

Agbalowomeri:
Na you dey look am as hammer
What about all the forex losses
Some will not come out of negative retained earnings for another two years

For a good number of them though especially the ones making more than 100% profits, FX losses are now minimal.

zendi:
The most shocking is that Nigerians are still guzzling enough beer to keep the breweries not only still in business but to actually remain hammering.

The only loss I have seen so far by a major company is Total Energies and that is understandable (the Dangote refinery effect). It’s been profit after profit all over in Q1. Even Cadbury with heavy losses since 2023 rebounded strongly.

Streetinvestor2:
Hunger and poverty they wound people for naija but all these companies just dey hammer for q1 results. Does it mean they have been exploiting the people of nigeria via all this increase in product and services hiding under inflation and government policies.
I am just reasoning the matter oh.

A more stable FX at the official market in Q1 than in any quarter in 2023 and 2024 is largely responsible. FX losses are now minimal. Also, increase in prices to match the inflation.

In Q1 2025 though, some manufacturing companies increased volume of sales and even MTN added 2.6 million new subscribers. So probably Q1 2025 also saw an improved economic environment all round than Q1 2024.

Wonderful Q1 result from one of my favourite Nigerian oil and gas companies: SEPLAT. Their heavy investments in gas especially over the years would start to pay off this year and has likely started paying off already from Q1.

Seplat Energy Q1 2025 Financial Highlights

Revenue: $809 million, marking a ~350% increase from Q1 2024 ($180 million). ​

Adjusted EBITDA: $401 million, up 226% year-over-year. ​

Cash from Operations: $306.5 million, a significant rise from $16.8 million in Q1 2024.

Unit Operating Cost: $12.6 per boe, better than the guidance range of $14–$15 per boe. ​

Net Debt: Reduced to $747 million by end-March 2025.

Dividend: Declared a Q1 2025 dividend of US$4.6 cents per share, up from US$3.6 cents in the previous quarter.

theenchanter:
no dey answer this one jare. Let him continue to fool himself thinking he's hitting a point.

I swear.

vaxx:
Cus your emotions will not let you go.


You are asking me who homeschool you that you can actually fall into recession even if your economy grow if I know what is excess crude account?

Anyway Nigeria is not the only country that maintain such account , nearly every country has such sovereign wealth to maintain stability in case of any future happenings.


Now that the naira is fallen , the excess account would have help to mitigate the effect a bit but it is less than 500k

Excess crude account is not a savings account, it's not even constitutional. It was a circumstantial account created to accommodate excess revenue from crude oil sales.
As at 2015, it was just $2 Billion although in 2011, it was $20 Billion but Nigeria has other saving accounts ie NSIA.

Locotrader:
Insurance stocks has no part in this remaining bull period.
Keep ears on recapitalisation.Before then,there will be a major pullback that will usher another bull in the insurance sector.

For now the result of Guinea ins can't lead it to anywhere.

Instead look the way of NB,Nascon,Aradel,Transcorp and other consumer goods companies if you are scare of my type of stocks which I have listed above and my sure bet for this season

Aradel?? Even with Trump and the current crude oil prices?

vaxx:
Fact does that care about your emotions , even if you are gullible ...


This is the fact , money no inside 9ja pulse hence the falls of the naira .. stop arguing with emotions.

Shamseldeen Ogunjimi, accountant-general of the federation (AcGF), says the nation’s excess crude account (ECA) balance is $473,754.57 as of April from 72 million dollars

What is Excess crude account? Do you know what it means? Besides, Nigeria has stopped maintaining excess crude account for long (almost a decade now) because it’s irrelevant since crude oil production has been below all budget targets since 2014, so it’s not a new phenomenon. NSIA is the focus and they had a whopping growth in 2024.

I shouldn’t be doing this with you but…

Nigerian FX Liquidity has improved compared to the struggle in 2023. This is for Q1 2025.
The only real threat now is Trump’s tariff which has slowed down buyers of oil from the likes of Nigeria and Angola and has reduced oil prices.

Jamestown123:
The question should be, if we are safe and secured enough to see 2027? As for me, I can't die, God knows that.

How? I’m confused.

Picky1:
Gov't printers at work? Exchange rate?? Just thinking out loud!

Price increase.

Sunrisepebble:
https://doclib.ngxgroup.com/Financial_NewsDocs/43879_DANGOTE_CEMENT_PLC-_QUARTER_1_-_FINANCIAL_STATEMENT_FOR_2025_FINANCIAL_STATEMENTS_APRIL_2025.pdf

N12.29 Q1 EPS
83% yoy Growth

Is the coastal road a primary reason for this? Even Lafrage just had one of their best quarters.

Jamestown123:
I will keep saying it, no sane man would support this current crop of leaders that are leading Nigeria. Nairaland should keep removing my post and banning me. Just as Nigerian government will arrest and jail anyone who talks about their evils. Human lives has no meaning in this Godforsaken country, yet most of you guys come here to defend those who keep killing and keeping you in poverty.

What ideas do you have for your preferred leader come 2027?

Yoursfaithful:
https://nairametrics.com/2025/04/24/transcorp-power-reports-n43-283-billion-pre-tax-profit-in-q1-2025-up-50-43/

Nawa o..All these companies 1st Quarter no dey joke o

I knew it when I saw the PMI at 52 and 53 in January & February respectively. Also exchange rate was stable between 1480 and 1550. So FX losses would be minimal. I expect over 90% of firms on NGX to make profit including Telcos.
The signs were there in Q4 2024 already.

vaxx:
it is on nairaland bro.. front page

Lol. You just waste my time. No vex.

vaxx:
oga , wetin you dey ask , economy growth does not mean your economy cannot enter recession. If there is much more higher inflation, it will push the economy into recession. Even social issues like political instability can forced an economic into recession

Ghana had once face such experience before

Can you show me where Ghana ever faced a recession and still had economic growth?

What is the definition of recession?

vaxx:
simply because Argentina production and services are way doing better or has perform much more more better than the previous year .


And there is statistics for that

Can you show me this statistics? Note that Argentina was in a recession last year, so how come their production did better than the previous year and they entered recession? Do you read what you write before submitting?

vaxx:
Argentina is currently considering dollarization , they understand it is a sure way to curb inflation.

Peso is not under significant threat as naira , peso absorbed more external shocks than naira. Peso falls is part of economic reform effort, which might lead to stabilization in the long run, naira' problem are issues like oil dependency and foreign exchange shortages.

You can't compare orange and apple , they are both different types of fruit.

Naira is facing the same issue with Egyptian pounds ( foreign exchange shortages ).

Peso moved from around 380 in 2023 to around 1200 currently. Naira moved from 460 to 1600. That’s almost similar depreciation, so why is Argentine GDP growing in dollar terms despite the fact that they even had a recession?

Answer this straightforwardly, no shalaye.

Also, Argentina has a net negative reserves currently which is why they borrowed 20 Billion dollars from IMF recently. Nigeria doesn’t have a net negative reserves. So between Nigeria and Argentina, who lacks foreign exchange more?

vaxx:
oga, for international comparison, your economy will be converted into dollar using the current market exchange rate . If your goods and service production are calculated in naira , even if it gives you trillions so far it falls flat behind major world dominant currency (dollars), it simply means your country is basically not doing well. Argentina is even considering dollarization to curb inflation . Check peso , you will realized it is actually fluctuating rather than loosing values . Naira is the opposite .

What are you saying Oga? Peso lost value almost at thesame rate as the naira in early 2024 due to their devaluation. It has depreciated almost thesame way the naira depreciated since 2023.

vaxx:
Economy are quantify in dollar terms. For Nigeria to regain her position back as Africa largest economy, she must work on her currency, it falls just way below the normal or average curve.


In reality, Nigerians are not doing well economically, except you are earning in dollars, An average Nigeria has become more poreer.

No sir, economy is not measured in dollar terms. Dollar is only important here for global comparisons. This is why despite the rate of depreciation of the Argentine peso last year when it lost as much of a percentage as that of Nigeria, their economy did not shrink even in dollar terms.

rvp2018:
Yemi Kale and giant of Africa is now 188B dollar economy as Kenya is 130B.

Lol. We shall see.

I would quote this data by end of May or June.

Note that according to thesame IMF, Nigeria’s PPP since 2023 have been growing at a greater rate and not shrinking and for the IMF is often ranked first in Africa. Nigerian economy grew by 3.4% in 2024 for only the second time in a decade (the only other time was in 2021 after a recession in 2020).

Before the end of May, the GDP for Q1 would likely be released.

Ahead of its release, World Bank director in Nigeria said Nigeria remains the largest economy in Africa. This makes sense because Argentina and some other countries have also had their currencies devalued massively but they are still growing in dollar terms even though they faced a recession. So ignore IMF projections until Nigeria releases her gdp figures later on.

pluto09:
https://www.thisdaylive.com/index.php/2025/04/20/how-rabiu-bua-groups-historic-deals-in-dubai-will-revolutionise-nigerias-economy/?amp

BUA, Dangote, AA Rano, Sanusi Lamido, etc. Kano state just keeps giving.

CBN refuses to approve Access Bank acquisition of the Kenyan Bank until they divest from DRC and their London Branch has been reviewed.

Hardware is hard but here are 6 startups doing it in Nigeria.

https://techpoint.africa/insight/nigerian-hardware-startups/

Hardware startups in Nigeria have started making money, but there’s a catch
Terrahaptix and NEV Electric recorded a combined $16 million in revenue in 2024.

Terrahaptix has made notable progress. In 2024, Techpoint Africa learnt that the company had recorded $2 million in orders for its drones and other hardware products and had even expanded by exporting to South Africa.
CEO Nathan Nwanchukwu said the oil and mining industries represent their biggest drone market.

Brent crude’s plunge below $60 was an “overreaction” to tariff fears, says Gunvor’s Frederic Lasserre. Markets assumed zero demand growth, but the research head sees more upside ahead: “There is a better exit than the zero-growth situation.

Mpeace:
And it had to be Access bank. But then what is the quality of the assets being bought by Access bank. See what is writen in the article:

"This acquisition allows Access Bank to take up 100% ownership of National Bank, effectively removing National Bank and its bad debt overhang from the books of the Kenya Commercial Bank (KCB) Group, which previously held a majority stake"

I just don’t understand the Access Bank strategy. Their goal right from time has always been all about expansion. They are all over Africa but are quite small in most of these countries. I think they had to sell their operations in London and Drcongo in order to buy this Bank (a highly indebted Bank).
The Kenyan central bank is so relieved.

emmaodet:
Whatever befalls Nigeria is all her fault.
Who works in an oil. Company like shell, earning 3m per month with other income totalling 5/6m per month, yet doesn't diversity and invest part into other investment.
Rather, he is always in the club drinking to stupor, even owing the club owner debts. Owes the hotel owner debts for sleeping in 7 start hotels with his concubines, took massive mortgage for house and car just to keep showing off as a big man working with shell.
If such person is laid off after 20 years in service, it means he is a fool for not having any savings nor investment and if the children that were ignored, throw out of school for having a reckless father who comes home late, drunk and always beating their mother, not always dropping feeding money are all watching and hoping nothing befalls them when their father goes out of job, then, they are not any better.
Don't plan with Nigeria. Have your own plans

I agree Nigeria should have been diversified by now but the worries about low oil prices is not just a Nigerian thing though.
It’s a worry for all nations with oil as a major source of export except you are U.S and Saudi Arabia. Even in U.S, the uncertainty is affecting crude oil producers. The big producers like Exon with lesser operating costs may be able to cope with low oil prices but not small producers in the U.S.

theenchanter:
I don't really see any significance to Eko Atlantic but I believe it'll have immense impact in ibeji lekki axis. The lekki free trade zone being the biggest beneficiary, the road will link the zone to 9 states on a stretch.

It'll open up some areas around that location.

Dangote refinery, deepsea port and the proposed airport are also in ibeju. I expect that area to be another economic region in the state without the problems apapa caused Lagos in terms of gridlock cos the road will join the lekki epe Expressway to decongest that area.

True. I believe the Lagos to Ondo axis at least would be completed in a few years and that alone would open up the region greatly for tourism. The Calabar end begins next week.

theenchanter:
Quantum...... Just beside metropolitan. 25fls

U can see metropolitan site beside it in the third pics.

What do you think about the potential of the Lagos Calabar coastal road and its significance to Eko Atlantic and Ibeju Lekki?

“President Trump exempts smartphones, computers, and chips from the new tariffs on China”.

Even Trump don dey mellow.