₦airaland Forum

debeey87:
Looking at the numbers from NNFM Unaudited 9m results, what could have changed their earnings trajectory to a downward spiral from the previous year in an era where FCMG companies are constantly raising prices are churning out profits.

https://doclib.ngxgroup.com/Financial_NewsDocs/45802_N_NIG._FLOUR_MILLS_PLC.-_QUARTER_3_-_FINANCIAL_STATEMENT_FOR_2026_FINANCIAL_STATEMENTS_JANUARY_2026.pdf

That is their way. Consistency is never in their dictionary.

chimex38:
Proof of supposed NCR "Magic" (my perspective)

POINT 1
NCR moved from -₦20 to +~₦2 that's technically a +~₦22 EPS jump.


A substantial amount of its losses for 2024 FY was FX realised-losses NOT company operations.(check again).
NCR Q4, 2024 EPS alone was ₦4!! the FY 2024 losses diluted/downplayed the significance of this ₦4 EPS alone.
Pointing to a brighter 🔆 2025.


POINT 2
By my estimate on average in NGx:
A company with an EPS of ₦2 with a MOAT status and between 1-3bn OS will be trading at average of
x10<-->x15 of EPS.

Therefore, A company with an EPS of ₦2 like NCR with a MOAT status and with 0.1bn-0.3bn OS should therefore be trading at least average of x10 of x10 of EPS of those within 1bn-3bn OS= x100 EPS
Hence ₦2 EPS = ₦200 share Price
(The "scarcer" the share, the higher the Share price proportionality principle; subject to free float ).

POINT 3
Also, if NCR could make ₦4 in
quarter 4, 2024, it means it's normally projected annualized EPS aside FX losses should average ₦15-₦20 For FY.
Placing its share price between the x10-->x15 EPS range= 150-200 range.

The Almighty abracadabra of NCR from first principle...Proved

Are you just being sarcastic here?
eps for q4 2025 is a loss of about N4

https://www.bloomberg.com/news/articles/2026-01-16/peru-wants-private-manager-to-run-troubled-6-billion-refinery

Refinery business all over the world is not an easy one.
OandO expertise might be needed in peru

faoogoke:
If NGX can allow Juli Chemist continue scamming investors DEAP Capital and co are safe.

ASO Savings was a regulatory intervention.

The question should be, is DEAP Capital under special regulations like aso savings? If yes then the warning is apt.

Agbalowomeri:
I don't even understand whether na AwesomeJ people dey recycle the shares which has been unending for a year Lol

I eventually bought some units around N20 though not as much as I wanted.
Looking at the volume being traded daily I keep wondering if the sellers have an unlimited numbers of the company shares.

Agbalowomeri:
Make we dey look whether you no go make withdrawals

Who are the people selling this access
Seems like they have very big bags.

Raider76:
So they want the world to believe that KPMG didn't know what they were talking about before and it is only now they are seeking for clarification?

The visit by KPMG to the tax authority is the important thing here. This is way better than the earlier narrative and the rebuttal by oloyede.

https://www.thecable.ng/kpmg-nrs-meet-after-debate-over-new-tax-laws/

Way to go, everything should not be fight....

mikeapollo:
Taiwo Oyedele apparently saw his appointment as an opportunity to rush and do what his appointors wanted him to do, with little regard to the effect on whole citizenry. He obviously did not consult other experts and stakeholders in the industry, e,g. Deloitte, KPMG, EY etc., hence the critiques by these firms.
He even proposed an increment in VAT but the NASS shut it down.

The guy just need to calm down and accept criticism in good faith.
No law is perfect and we can always work on it to improve the outcome.
I however don't subscribe to the suggestion that the process was rushed. People will still pick hole even if it takes us 20 yrs to prepare the law.
As at today people are still criticizing tax laws in uk, Australia and many more countries.

mikeapollo:
Deapcap has restructured and deleveraged its AMCON debt from about N1.5b to about N400m.
They also have plans to do a debt-equity conversion programme and possibly raise additional capital in the market.
These and some other info may be responsible for its recent performance. But I don't know if it will continue the rally or decline or remain stable.

I think it is appropriate that you add that deap capital still have a negative equity of over 2b and they are still making loss.

https://businessday.ng/news/article/nigerias-money-supply-hits-historic-high-of-n122-9trn-despite-cbns-policy-tightening/

Those expecting a significant reduction in MPR by CBN might have to wait longer.....

Joyful365:
I would appreciate more clarity sir. I have tried to research but all results I'm getting is saying cgt will be paid based on acquisition cost and sales value which is confusing.

I have gone through the tax act but what is written there talks about item denominated in foreign currency which doesn't apply here.

I don't want to take decision only to later have issue with the tax people

You don't pay CGT when you change money from one currency to the other or makes deposit for shares.
You will only pay CGT when you buy shares and the price appreciates and you sell without reinvesting to buy another shares., that is why you have the acquisition cost and sales value

nosa2:
You are right but since we have been unable to find a solution to corruption then we are best using a development model that adds it as a factor. With regards to external policy, yes that too is a factor. So add it as a potential risk. So unless those things happen Naira will not collapse

We are still very much dependent on crude oil as a source of foreign exchange earnings.
A sustained downward movement in oil price will be a big challenge for naira stability.

awesomeJ:
you think if they split, it will only happen on ngx?

if they did 10 for 1 for instance, each stock would just simply now be worth N227 on NGX and N700 in london, would you be willing to sell 100k units of a stock worth 700 at 250??

I have just taken a look at their financial statements which was never done before.
I think I agree with your submission.

Agbalowomeri:
Is it the price you are worried about or lack of buyers? As long as there buyers at the current price, the market fine. Which is different from GEREGU where there are no buyers

There are no sellers so the price is stuck.
The company should just do a stock split or give bonus of 100 or 1000 for 1.

https://www.reuters.com/business/energy/venezuela-us-talks-export-venezuelan-oil-us-sources-say-2026-01-06/

"Venezuela will be "turning over" between 30 and 50 million barrels of "sanctioned oil" to the U.S., Trump said in a social media post.
"This Oil will be sold at its Market Price, and that money will be controlled by me, as President of the United States of America, to ensure it is used to benefit the people of Venezuela and the United States!," he added."

Access bank needs deliverance

I

handsomebolanle:
Mentioning it could be misinterpreted as MH.
The price may also go down.
But like I said, it didn’t move.

Cheers

SEPLAT I guess

https://proshare.co/articles/ownership-concentration-and-market-influence-in-the-nigerian-exchange-ngx-2025?menu=Market&classification=Read&category=Capital%20Market

chimex38:
Effect of taxation could change that.
I think stocks might just reprice to include taxation effect.

lol...
Taxation will not crash the stock market again,it is to reprice now

nosa2:
I should have stuck to my guns, but then again the ETI is used the money to buy is going to outperform PZ

Banking stocks are definitely cheap but they are always underperform when it comes to capital appreciation.

EDUECO:
You're right!

99% of Nigerian politicians and security personnels are the real criminals in Nigeria.

Nigeria problem is not only about politicians and security personnels.
Almost everyone is culpable.

mikeapollo:
The HNI (high net worth individuals) know themselves, so the govt should go face them. Dangote, Otedola, Abdul Samad, Adenuga, Elumelu etc.
If only the ''tax man'' was there to help me in 2008-2010 when my investments turned into huge debts because of market crash after margin and other loans that I invested. They cannot reap where they did not so.

After Dangote and Ote$, na you be the next

mikeapollo:
Who go come comot the tax from my pocket?
The govt says I should file (and pay) CGT on gains that I make in a year by 30th June of the following year.
And I say I no go do am!

Enforcement will start from HNI.
Those of you who make billions and hundreds of millions should be ready to receive the tax man sooner than later

mikeapollo:
File ko, file ni.
Once I file my PAYE returns with my State Govt., I will never file any additional returns anywhere, even if they point armoured tanks to my head!
The CGT nonsense is dead on arrival!. I will never file any gains I make in my stock trades. Let them block or close down the NGX is they want.

Any other income you make personally and the CGT are still under the jurisdictions of your state government.
Nothing much new with the new act except it makes evasion more difficult.
It is just a matter of time.

Agbalowomeri:
No be only file

Compliance will take time but we have to start from somewhere.
The tax man has already said they need about 5 years.