₦airaland Forum

Agbalowomeri:
It is sad that you obidients cannot engage in civil discussion without resorting to tout behaviour and that is number 1 reason that Obi has lost 90% of those who supported him outside southeast.

He won several states outside the SE in 2023 but just watch, he would not even make 25% in any state outside SE in 2027

GeneralDae:
No knowledgeable person (who is not stupid) would expect improved standard of living from fuel subsidy removal and a liberal exchange rate coming together. But were they necessary for the survival of the state as at 2023? Yes.

nedu666:
The problem with tinubu achievements is that it has no impact on 99% of Nigerians. You talk about fitch rating, jp Morgan, stock market. What impact does it have on 99%. A country does not exist to work for the 1%. Are there 1 million Nigerians making money on stock market. If developed countries worked for 1%. I don't think Nigerians would be going there for sucess. A successful govt should tell us how many jobs were created, no of new factories opened, reduction in crime, no of low cost houses built, hospitals, roads etc. You cannot be boasting of fitch and Morgan

Odunharry:
Yes true. Like he said earlier, many people don't have idea. He need to pressure the account officer to get more info from their treasury.

Were you able to bid via your bank? I remember you raised question here also

kart042000:
How do you purchase OMO bill please? I asked two of my banks and they both said it is explicitly for foreign institutions and not retail.

Princkez:
POLICY
Board Approves Minimum Annual Dividend Distribution of 60% of Profit After Tax, Reflecting
Strong Capital Position and Confidence in Future Growth
Lagos, Nigeria, July 29, 2026 – The Board of Directors of First HoldCo Plc ("FirstHoldCo" or "the
Group", at its meeting held on July 29, 2026, reaffirmed the Group's longstanding commitment
to rewarding shareholders through consistent dividend payments and the delivery of sustainable
long-term value.
Subject to applicable regulatory approvals, the Board approved a policy to distribute a minimum
of 60% of the Group's Profit After Tax (PAT) as dividends to shareholders annually.
The decision reflects the Board's confidence in the Group's earnings capacity, strengthened
capital position, improving asset quality, diversified revenue streams, and strong outlook for
sustained profitability and growth.
Commenting on the decision, the Group Chairman of FirstHoldCo, Mr. Femi Otedola, CON, said:
"This resolution demonstrates the Board's confidence in the strength of our franchise, the
sustainability of our earnings, and our commitment to delivering tangible value to shareholders.
Over the last two years, we have undertaken difficult but necessary actions to strengthen
governance, clean up the balance sheet, restore confidence, rebuild capital, and reposition the
Group for long-term growth.
We are now beginning to see the benefits of those strategic decisions. As performance continues
to improve across our businesses, it is only appropriate that our shareholders participate more
directly in the value being created."
The enhanced dividend policy announcement follows the Group's outstanding financial
performance for the half-year ended June 30, 2026, which underscores the success of its
transformation agenda and the effectiveness of recent Board and management initiatives.
For the first half of 2026, FirstHoldCo delivered exceptional results, recording:
• Gross Earnings: ₦1.93 trillion, up 16.7% year-on-year
• Operating Income: ₦1.38 trillion, up 25.8% year-on-year
• Profit Before Tax: ₦653.5 billion, an increase of 83.5% year-on-year

ppogba:
Activist investor will find it difficult to penetrate if you acknowledge the fact that AIG himself na guy man. Besides, they own the majority of the shares through various means, proxies inclusive.

The solution na make person leave their bank for them.

Instead of praying for Access, I will take the time praying for HELL RUFAI.

ppogba:
Good Morning.

Bros, forget about body language.

Forget about being punished.

Though debatable, the access management has the least integrity in the banking sector for now. You can never trust their words especially where and when your life is involved.

ositadima1:
My target is above ₦100. I think FIRSTHOLDCO may be chasing after ZENITHBANK and GTCO. If it moves above Zenith, the real question will be: Can it sustain strong dividend payments, or is the buy side simply deep enough to keep pushing the price higher?

Disclosure: I bought a few months ago and still hold a position.

manwomanok:
Have you been paid?
I received coupon for the one with Stanbic Bank Custody on 19/05/2026, but I have not received coupon for the one held in my CSCS account.
Has anyone had a similar experience?

NSEstudent:
Hello, it’s the FGN Bond 19.89% May 2033. The coupon was due on 15/05/2026. Any one whom has received or payment is outstanding, kindly let the forum know about it.

Is this FG Bond or FG Savings Bond?
Mine is savings bond. It was the 2 year savings bond done in 2024 and matured 15th May 2026. Coupon was paid but not the principal.

NSEstudent:
May 15 2026 FGSB coupon paid uncharacteristically on due date.

Youngzedd:
GTCO has done it again.

2024 total dividend: N8.03k


14.08% yield using the 31st December closing price of 57 naira.

emmanuelewumi:
2025 forecast for the Oil Plantation in Ghana

Revenue GHC 752 million (N78 billion)
Gross profit GHC 377 million (N39 billion)
Operating profit GHC 376 million (N29 billion)


2025 forecast for Presco.
Revenue grew at a compounded annualized growth rate of 52% from 2019 to date, it actually grew by 88% between 2023 and 2024. For the purpose of this forecast I will use 40% revenue growth,.
Gross margin for 2024 was 76% but I will use 70%, Operating margin for 2024 was 62.5% but I will use 55%

Revenue N224 billion
Gross profit N157 billion
Operating profit N123 billion.

Combined 2025 Operating profit of Presco and that of the business in Ghana will be
N123 billion+N 29 billion = N152 billion which is a conservative estimate

Presco currently has a debt of N58 billion the corporate bond will increase it to N158 billion. The total debt will about the same value with the estimated operating profit for 2025

With this there is a very high probability that the corporate bond will be liquidated between 3 and 4 years

Owoblowblow:
Incompetent indeed. TP is the best president Nigeria has had since independent. No worry , wait till 2027 to vote him out. What were you expecting when TP got him. As far as I'm concerns he is doing his best to make things better. I van not imagine any of the candidate that contested with him to do better. Nigeria was skeleton when he got him. Can you imagine a country subsidising forex for people to go on pilgrimage etc, no production etc. I beg leave matter.

Agbalowomeri:
Can you beat your chest and say there is still rent-seeking currently in BAT government? Has the government not achieved the same victory against the rent-seeking cabal? Is the true picture of PMS consumption not clear now? It's all about the right strategies and wisdom. To focus only on cabal is an endless battle that no government regime will win, believe it or not. BAT chose the faster route with attendant collateral damages. It will only get better from here.

Agbalowomeri:
If BAT wait for conditions to be right, no reforms will be implemented. In Buhari's 8 years how many times did Dangote postpone launching of his refinery? A refinery that was supposed to start operating by the end of Buhari's first tenure?

BAT understands this terrain very well. Scatter everywhere first then we will arrange it back. People fail to realize that some cabals were benefiting from the status quo and will do everything for those conditions not to be met

Omooloriredade:
No be attack o. Just an opinion which has no bearing on how the market will react to the news. So here goes:

What is huge? Make we know first. The information in that annoucement is slightly insufficient to make a sound investment judgement. There's not enough meat on the bone.

Resolution 3 Summary:

* Related entities owe Oando subsidiaries in the course of doing business together.
* A special resolution is being proposed to have the debt owed transferred to Oando the parent company.
* Debt due date will be brought forward and renegotiated (with or without modifications).
* Further to above, Oando is proposing to have the debt settled by accepting shares in the debtor entities (i.e Debt for equity swap deal).
* The debt for equity swap is intended to help reduce the overall Trade receivables (not payables o) at the group level.
* Shares allocated from the debt to equity conversion is then distributed to existing shareholders of Oando on a pro rata-basis.

Questions:

1. Who are the related entities owing Oando subsidiaries?
2. What is the status of the financial health of these entities?
3. Why are they unable to settle their debt as and when due?
4. Trade receivables are revenue owed to a company from the sale of goods and services. Is buying shares in these onigbese companies the best use of company resources?
5. Can Oando reveal the related entities and if possible provide a brief summary of their financials so shareholders can make informed decisions before voting on these resolutions?
6. Would it be better to instigate an asset sale by these entities and the proceeds used to settle Oando loans or Trade payables?
7. Do these related entities pay dividend?
8. If not, are they listed on the NASD or NGX to provide an exit platform for shareholders should they decide to leave? Or at least convert their own portion of the shares to cash. Don't give me something I can't monetise.
9. Oando has quite a number of subsidiaries and related entities. Which ones are we talking about here?
10. Bonus question - Is there a subsidiary or related entity Wale and Boyo are not shareholders of? Hmm, Wale why are you not paying up for for good and services rendered?

Positive:

1. If the related entities are Asset rich but just suffering a temporary cash crunch.
2. Deal is done at favourable valuation for Oando shareholders i.e entity shares are not overpriced at conversion.
3. OODP (Wale and Boyo) will not be voting. Outcome lies solely in the hands of minority holders (same as the delisting in case anyone didn't know that).
4. Huge positive - converting trade receivables to shares in an asset rich company and transferring same to existing shareholders could be the company rewarding existing shareholders. Basically, the company is proposing to pay out a portion of its income to shareholders. A dividend of some sort. In a way, Question #4 could be a blessing even though Oando still needs to address its huge debt too.
5. Qualification date for this distribution is the date the resolution is passed. Note this one. 17/12.
6. The directors might be seeing light at the end of the tunnel, hence their decision to go this route. Otherwise, it shouldn't be the near-term course of action. Settle your own gbese first before thinking of rewarding shareholders (that is if it's a reward o. It might well be a curse especially if it could have been better spent for the overall good of the company and to reap the reward latter).

Disclaimer - My 2 kobo. My post could be grossly misleading so please DYOR. Not a recommendation to buy or sell Oando.

Sunrisepebble:
Wapco is separate. I shared some information here because I heard gist as to why there is renewed attention in the stock, it may or may not be true, however it is the same source who pointed out Aradel and FMN gist to me also. He mentioned Chinese company, with no specifics, in doing my own research I saw that a Chinese company had previously acquired some other Lafarge african subsidiaries. That article added some more credibility to the gist

Sunrisepebble:
https://www.globalcement.com/news/item/13460-huaxin-cement-completes-acquisition-of-plants-in-zambia-and-malawi-from-holcim

MadmaxX489:
Hello, who subscribed to the FGN May 15th 19.89% bond? Payment was due today but did not receive any payment. Who is in the same boat?

Reelz:
Any good reasons why tbills that matured Nov.7 is not yet paid as at today..
Can DMO be contacted.. @freeman

Sunrisepebble:
UBA RI #35. Explains the recent volumes