₦airaland Forum

Agbalowomeri:
Lol for an act that has been passed into law? We joke a lot in Naija. The 25% rate is not bad IF people FEEL the impact of the government. I look around me, I can't even point to anything that I am benefitting from government aside good road network and that one sef na recent thing which also depends on where you live

I think what can be adjusted is the effective date. Instead of using the purchase price of stock,it could be decided to start from January 1 prices

mikeapollo:
Lol
Why always Oando?

https://proshare.co/articles/oando-plc-announces-closing-date-for-reverse-take-over-of-exile-resources?menu=Market&classification=Read&category=Stock%20%26%20Analyst%20Updates.

If you know any company on NSE tha has done the same you can also mention it.

KarlTom:
The Punch article aptly called it reverse acquisition...

Na for OandO people I first learn the term,reverse acquisition.
Maybe dey are learning from wale and his gangs

ositadima1:
Lol, not enough detail. Sugar is down by how many percent? Assuming the issue with DS is only inventory, we can actually estimate the impact of the drop in sugar prices. Let’s say it fell by 10%, we could discount the portion of cost of sales related to sugar inventory by 10% and see if it would have made a significant difference. Simply saying that history has taught us this or that is just wishful thinking.

The logic is simple.
The major cost input for DS is raw sugar.
When price of raw sugar rises, it takes time before the company is able to pass the cost to consumer by raising price of refined sugar. And when price of raw sugar falls,this most times does not reflect in price of refined sugar which translates to more profit for DS.
Raw sugar has lost close to half of its price yoy and it's still falling and I know that has not reflected in price for consumers.

ositadima1:
They’re not completely out yet. Look at their current nine-month cash flow, it’s negative, meaning they lost money overall, yet they still spent ₦24 billion on capital expenditure. If the remaining three months don’t turn things around, they’ll still end the year with losses. I think the stock will only start to take off when they begin generating real profits and adding value for shareholders.

In Q2, I valued them to move above ₦79 because they had around ₦50 billion in cash flow(all dried up), but I don’t think they’ll reach that level with the current weak results.

Good observation.
The q3 results was below my expectations, it was a deviation from the q2 trajectory.

Agbalowomeri:
I still think this your method doesn't work when you try to use number line. It does not apply common sense. I can't fathom how an expected FY EPS of less than N2 would be projected to any price more than N20. That is a PE of 10. At 80 it will be a PE of 40. That cannot make sense to me.

He is doing a good job though I also have my reservation with the way he uses the number line.
DS should do well next year considering the fact that the price of raw sugar is down in the international market, the support around $15 has just been broken. History has taught us that DS makes a lot of money when price of raw sugar is on a downward spiral.
The only negative I see with the company now is the finance costs,that needs to be brought down ASAP.

https://punchng.com/wimbiz-2025-formalise-your-business-to-enjoy-tax-reliefs-oyedele-tells-entrepreneurs/#google_vignette

“If somebody is roasting corn by the roadside, if somebody is a vulcaniser, if somebody is a carpenter — those guys are poor. It doesn’t matter how many customers they have in a day; you shouldn’t leave it to the government or the tax officer to decide whether they need to bring in tax or not.

“So, those guys — we’re planning to give them exemption stickers so they just live their life. That is how direct and practical it is,” he said.

Agbalowomeri:
The banks are already in a bear though

Not there yet but it is looking more and more likely .
One major index that has not recovered from the August sell off. Not looking good.

mikeapollo:
Really? You think the market is not bearish yet?

What we are having now is a pullback.
If we loose about 20% from the top,then we can begin to talk about bearish sessions
Will it turn to a bear market? I definitely don't know

mikeapollo:
Historically, your point is totally correct.
However, for the current situation the horizon does not look good for a recovery because of the CGT.

Recovery for a market that is yet to go bearish?

Fred2020:
Is it Donald Trump turning the NSE red, or is something else happening?

Some stocks have very low volume traded.

People need to be reminded that bull will not continue forever. The bull has been around for some times now that many now view any red as an aberration.
While nobody might say exactly when we will enter a bear market,we all must not forget that the stock market runs in a cycle.

Agbalowomeri:
Oga Pluto ACCESS don reach your junction o

Abi you wan wait for my own junction?

I no dey buy again

awesomeJ:
Reuters reports a 12.5 bps reduction in both yields vs Business Day.
8.625 and 9.125

https://www.thecable.ng/nigerias-2-2bn-eurobond-records-largest-ever-oversubscription/

In a statement on Wednesday, the debt office said the transaction attracted investors’ peak orderbook of over $13 billion, “marking the country’s largest-ever orderbook”.

Agbalowomeri:
Why I no go wan pay CGT if I see ACCESS @10, ZENITH @25, GTCO @35, NAHCO @40

😂

mikeapollo:
I can only sell based on my needs and strategic projections, for now. Every investor is not the same.
I cannot just sell off everything just because a clueless and gullible govt. has come to disrupt the market because they want to extort investors.

You don't want to sell before January and you don't want to pay CGT.
wish you well

ositadima1:
Are you saying you’re the only one who likes a good bargain or what? Before it even gets there, people will start buying. The only way it gets to that level is if there’s a serious problem with the bank or with Nigeria as a whole. Some stocks may fall, but the good ones will hold their ground.

Do you think you’re the only one with a bullion van waiting for price drops? Maybe your problem is anchoring, I’ve noticed you tend to anchor to old prices, probably because you’re used to them. But we’ve told you before that things have changed. One bottle of Hero beer is now ₦1,000, it’s not going back to ₦300. You can keep anchoring and waiting for it at ₦300 if you like.

Don't take all his words for what it is

mikeapollo:

You better join us to tell Taiwo and his master that they better suspend that CGT thing before it is too late!
Otherwise, the ''kasala'' go reach city, town, village and hamlet....everybody everywhere

The CGT will not affect everyone.
Someone like Agba has sold all, waiting to reenter the market at at his own convenience.
You also can sell and follow him to escape paying heavily for CGT.

chimex38:
Can you also guarantee they will prioritise these good things without first using proceeds to offset borrowing?
Thats if the entire tax is even enough

Guarantee ke
In my own opinion, the first thing is to generate enough funds to cover our recurrent expenditures; debt servicing (including seed money to retire matured debt obligations), salary and overhead.

chimex38:
I don't mind paying 30%-40% tax if the amenities of water, light good road health insurance, Mass Bus transportation, etc can be guaranteed throughout the 774 LGA of Nigeria and beyond at least.

Ideally and academically The tax should be cheaper in the long run than paying and maintaining these yourself. If not in my time, in the future generations.

But if debts are being accumulated in my time and taxation is being imposed.
What happens to the future fiscal use?

It's not just about capturing the untaxed.

Where will the money to provide all the good things you have mentioned come from?

KarlTom:
TAX EVERYONE!

Yes, many more need to pay tax.

ositadima1:
Why is the budget so large if we are not productive? It looks over-bloated, all these ₦13 trillion budgets that show no real justification after implementation. But correct me if I’m wrong: most of what the government spends goes to salaries, which are naira-denominated, and then supposedly to capital projects.

The government has been investing in these capital projects for years, yet they don’t seem to generate real value. What percentage of Nigerians actually benefit from these massive expenditures? Most citizens and businesses still provide everything for themselves, electricity, water, security, and so on. The only thing we all seem to enjoy are a few roads.

We keep borrowing billions of dollars to close budget shortfalls, yet there’s nothing concrete to show for it.

I am in agreement with some of the points you raised.
Some of my posts about public finance in the country is mostly about putting things in proper perspective and not to support some of the government actions.
I am also not comfortable with the level of our debt.
In the 2025 budget, allocation for debt servicing ranked highest in recurrent expenditures even more than salary and overhead.

Key figures for 2025 budget
Total Budget: ₦54.99 trillion
Revenue: ₦41.81 trillion
Fiscal Deficit: ₦13.08 trillion
Recurrent Expenditure: ₦13.64 trillion
Capital Expenditure: ₦23.96 trillion
Debt Servicing: ₦14.32 trillion
Statutory Transfers: ₦3.65 trillion

chimex38:
Lol.. I dont think so sha..
ee never reach like that.


Thats commendable at least.
But the crux of the matter is to reduce borrowing and use part of the "grown seed" of $3bn(as you say) to fund the budget deficit. That's primarily the mandate of the stabilization fund.. To assist fiscal deficits.
Not growing funds ab initio till infinity.

Apart from borrowing for infrastructure or so which could be fair..

The crux of that over ₦1Trillion borrowing is to fund previous borrowing(Eurobond maturity, budget deficit, amongst others).
Where is the stabilization Fund in these equation?

I think our people need to pay more attention to our budget.
We have a national budget the government is working on.
The budget has a deficit of about N13 trillion which is to be financed by domestic and external borrowing.
That is to say that even if we meet our revenue target,we will still have a shortfall of about N13 trillion.
I sincerely don't know how you think a stabilisation fund of about $3 billion is what should be used to finance a year budget deficit of about N13 trillion.
We still need a long way to go, the money we are generating as a country is still very low in relation to our population.

BabsO2:
It makes sense to not distribute tranche 3-6 but to sell it to a new investor and use the money to pay off debts and speedup business turnaround. I have always said this is the better option for current investors.

If OandO had been more concerned about the business of the company rather than the share price, they wouldn't have distributed any shares.
The company is very much in need of cash injection than any other thing.

mikeapollo:
SLS has always said the subsidy was not sustainable,
But he also recently described the govt (CBN and Finance Ministry) as being at a loss and confused on what to do to fix the economy. That to me, is cluelessness.
His recent remarks was more of a diplomatic stunt to mellow tension in order not to appear as being too critical of the govt and soften grounds because of the current crisis and battle for the Emir of Kano with Ado Bayero.

lol.
The likes of NOI and SLS are being diplomatic while people like afe babalola are the one saying the truth according you.

mikeapollo:
Lol.
How do you know that? How many people do you know refused/failed to go far in business and investment because they blame govt?

Some people who criticize govt. (not necessarily this current govt.) have businesses and investments worth hundreds of millions and billions of naira.
Yesterday, I watched Peterside Atedo on Channels criticizing some govt. policies. You mean he would not go far in business and investment? What about Gani Fawehinmi before he died? What about Sanusi Lamido.?

I fear you ooo.

You want to compare how SLS or Peterside criticize the government to how some people do it here.
For the record, SLS has acknowledged that Tinubu did well by removing fuel subsidy and floating the naira. That is not the same with people who will tell you that the president has not gotten anything right since he came to power.

https://nairametrics.com/2025/10/27/forex-traders-struggle-to-survive-as-cbn-cuts-bdcs-off-from-dollar-supply/

‘’Our operations are currently near extinction, with the majority of our members struggling to meet up with overhead expenses. There is an ongoing positive collaboration between the CBN and the operators on the return of active participation of the BDCs in the retail end of the FX market.

‘’The BDCs, over time, remained the most potent tool of the CBN’s foreign exchange policy transmission mechanism. The majority of us are comatose as survival is largely dependent on the official foreign exchange market, which is not accessible to the BDCs, with only very few grappling with dislocated and unstructured walk-in customers.’’

unite4real:
Does it not look fake that PAT will be this high.
This should be translating to over N23 EPS just for H1. And the useless bank cannot rise up to debunk this bandit report in circulation.

I am not sure if there is any bank in Nigeria that makes up to 1 trillion in PAT In six months.

mikeapollo:
Market reaction tomorrow would be very instructive.

Ordinarily, Access should be doing around N45-50 comfortably

I can't understand why the results is not available on NSE website.
If actually PAT is more than 1 trillion, then the result is super good.

mikeapollo:
It is 1.23trillion.
But one needs to confirm number of shares used for the EPS i.e. if it includes those issued in recent mergers/acquisitions

It doesn't add up.
I have used all the numbers I could find.
The OS Should be about 53b after the RI