₦airaland Forum

nosa2:
How can you say that? Don't you know this is a team effort? He will wait for everybody to sell before he sells

Agbalowomeri:
But both are not mutually exclusive

awesomeJ:
Given that the market has weaned itself of FPIs that like dumps, I don't think it'll swing that much.

Those FPIs showed me(us) shege during COVID when crude dropped below $0.

My 10k band estimate would be 137 - 147 for the rest of the year.

crownprince2017:
Remember, he added yet to be concluded right issue which is not going to be listed for 2025 dividend, you supposed to minus that.

Agbalowomeri:
Omo Brent @-17USD

courage89:
Interesting analysis. Thanks for sharing

I doubt they’ll be able to maintain similar payout ratio. The #2.5 Naira (3.2 billion Naira) for 2024 fy represents about ~28% payout ratio of their 11 billion Naira PAT. Also, that was based on lower outstanding shares, pre- 5 for 1 bonus. 2025 fy outstanding shares will rise to 12.7 billion as you rightly highlighted. Half year net income was 5 billion Naira. Assuming they double that, that should put their net income at 11 billion Naira (EPS of ~1.4 Naira).

Assuming a high payout ratio of 50%, that’s about 0.7Naira (7% yield at 10 Naira share price).

I do agree, the company is undervalue based on book value.

crownprince2017:
May be because you were not part of the early birds that enjoyed the bonuses highlighted.
Its very sweet...we continued to buy as the opportunity present themselves, my target quantity is 1m before the end of the year.
Some few thousands away.

Locotrader:
Today is another Friday just like last week which the market ended in green zone.

The market is now being captured by the activities of SWING TRADERS.When these set of traders are in the market,they create liquidity once or twice in a week to make stocks attractive for buying/selling.They have changed the Analogy of the market.Fridays has now become a greenish day instead of red.

Agba has missed his handle.It will take him sometime to recover it because he has failed to study the market instead he is chasing women.

Market ASI will be doing 140-143 this period till next earning season draws near.
The ASI will rise to 150 by year end and May rise to 200 if Dangote Reinery,fertilizer and some of the leading insurance companies in Nigeria list their shares at NGX before December.The rumour is there which will turn to news soon.

Today,Royalex will close in green zone.
It will end August at btw 2.20-2.25.Those who entered Royalex yesterday are winners for the week.Today is a recovery day.

Swing traders have hijacked the market from the pessimists like Agba who want to drag the market below 140 for their new entry.

Go and learn how to swing trade.Market is not in a bear mode.Only those who understands the current mode will be making the money in the next 3-4 September is looking sweet for those who will interpret the current mode of the market.

Have a loving weekend ahead.

Agbalowomeri:
Loco person lie on top your head say you don sell Japaul. True or false

Agbalowomeri:
Loco person lie on top your head say you don sell Japaul. True or false

megawealth01:
If you are 35 plus this is for you. In fact, even if you aren’t 35, save this post for later because you’ll need it. I’ve come to realise a lot of us are just living life without planning for old age.

Most times when I see old people and their kids are carrying them around, I ask myself what they were doing when they were younger.

Start doing these things now, especially if you are married:

1. Take care of yourself. Once you clock 30 plus, Nne or Nna, cut down on things that can make your kids carry you around later.

Sugar, beer, alcohol, reduce them. Some of my friends that visited me recently have already stopped drinking.

If not for yourself, for the sake of your children. Arthritis, highBp, Parkinson disease, dementia, some are hereditary, some are caused by us. I’m begging you, cut down.

2. Exercise. If you want to function well, walk at least 20 minutes every day. Climb the stairs in your house, or just take a walk.

It helps keep you away from heart issues. I do this almost every day I’m even typing this while walking.

3. Buy stocks for old age. Invest now and remove your mind from it. In old age you won’t need your kids to feed you you’ll still be balling.

4. Plant trees that pay later. Crops like coconut, pear, butter kola, cashew.

You can plant them in your village land if you don’t have in Your city. In 20 years they’ll give you steady money.

5. Do land banking. Buy land you won’t sell for 10–20 years. Goshen Estate sold for ₦300k in 2003. Today, land there is ₦90m.

The people that bought then are enjoying it or their children are. Just make sure it’s legit land and monitor it.

6. Make good friends. I’m not saying leave your circle, but create friendships with people who think long-term, people you can invest with. Your friends now will determine the circle you have in old age.

7. Men, this one is important. Never neglect your wife and kids because you’re chasing money. After the hustle, you’ll still need family. How you treat them now is how they’ll treat you later.

8. Get health insurance. Hospital bills finish people in old age. Start now so you get used to it.

9. Think of building your house. You can’t be paying rent till old age. If it bothers you now, then you must act on it. A house is not wasted money it’s part of generational wealth.

10. Go for routine checkups. Don’t wait for sickness to strike before going to the hospital. Once or twice a year is fine. I didn’t know I had fatty liver until a checkup showed it.

11. Write your will. It’s not too early. You can keep modifying it as you grow. Also, document your business ideas. If you want your kids to carry on your legacy, start transferring knowledge now.

Stop expecting your children to carry all your problems. That’s why you must live right today. Old age will surely come, and what you do now will determine how you’ll live then.

As I’m talking to you, I’m talking to myself too.

Yagazie!

Kelvin Onovo.

Redoil:
True

awesomeJ:
Given that the market has weaned itself of FPIs that like dumps, I don't think it'll swing that much.

Those FPIs showed me(us) shege during COVID when crude dropped below $0.

My 10k band estimate would be 137 - 147 for the rest of the year.

mikeapollo:
But I heard that CBN or NGX reported that FPI in NGX is about N1.3 trillion

mikeapollo:
But I heard that CBN or NGX reported that FPI in NGX is about N1.3 trillion

Agbalowomeri:
Which very small compared to market capitalization. His argument is that we won't experience crash again since the local participants are dominant. But is that really true?

Agbalowomeri:
Which very small compared to market capitalization. His argument is that we won't experience crash again since the local participants are dominant. But is that really true?

mikeapollo:
But I heard that CBN (or NGX) reported that FPI in NGX is about N1.3 trillion

awesomeJ:
FPIs have been playing more in the debt market.

They're only about 21% for the year on the NGX, THEY WERE JUST 8% in July when the exchange traded one of the largest volumes ever.

We retail traders have been more active too.
Doing over 30% of the market.

I do about 0.1% of all retail trades!!!
That's exciting considering that number of CSCS accounts opened this year alone are over 100k.

pluto09:
I also share the opinion that the higher participation of local investors compare to foreign investors will reduce the rate of crash if at all there will be any.
This doesn't in anyway imply that the bear will not come as a normal cycle in stock markets.

mikeapollo:
Wow, thanks for this.

PuristForest:
Guys, didn't read all the fine prints, when will the shares from the Chams rights issue be available on my platform....??
Update...Seen...guys hope this is accurate!
Typical Total Timeline

From announcement to trading: about 4–6 weeks

2–4 weeks: subscription period

1–2 weeks: allotment and crediting

1–3 days: shares start trading

ositadima1:
Taxation for Investors and Traders in the Nigerian Stock Market (2026)
As a resident individual in Nigeria, dividends and capital gains from stocks are taxed under the Nigeria Tax Act, 2025. Here’s how it works, and strategies to legally reduce your tax burden.
________________________________________
1. Tax on Dividends
• What counts as dividends?
Any distribution by a Nigerian company before deductions (gross amount).

• How are dividends taxed?
They are treated as part of your total income and taxed at the individual income tax rates:

Tax Band (₦) Rate
First 800,000 0%
Next 2,200,000 15%
Next 9,000,000 18%
Next 13,000,000 21%
Next 25,000,000 23%
Above 50,000,000 25%

• Tax already deducted at source?
If dividends fall under Section 51 (final withholding tax), then the deduction at source is final, and you don’t need to include them in your income tax return. Otherwise, they are part of your assessable income.
________________________________________
2. Tax on Capital Gains (Share Sales)
• What is taxed?
Profit from selling shares, options, or rights.
Formula: Sale Proceeds – (Acquisition Cost + Disposal Costs) = Chargeable Gain.
• Tax rate: Same individual income tax rates as above.
________________________________________
3. How to Reduce Your Tax Burden
A. On Dividends
• Authorized Collective Investment Schemes (CIS): Dividends from CIS are tax-exempt.
• Export-Oriented Businesses: Dividends from these businesses are tax-exempt.
• Real Estate Investment Companies (REITs):
o REIT income itself is exempt if 75% is distributed within 12 months.
o However, once you receive the dividend from the REIT, you are taxed at normal income tax rates.

• Foreign Dividends: Dividends brought into Nigeria through approved channels are exempt.

B. On Capital Gains from Shares
• Threshold Exemption: No tax if BOTH apply in a 12-month period:
o Total sale proceeds < ₦150m, AND
o Chargeable gains < ₦10m.

• Reinvestment Rule: Reinvesting sale proceeds (within the same tax year) into Nigerian shares reduces taxable gain. Only the non-reinvested portion is taxable.

• Deduct Costs: Always deduct brokerage fees and other disposal-related expenses.

C. General Individual Deductions
(These reduce your total taxable income):
• National Housing Fund (NHF) contributions.
• National Health Insurance Scheme (NHIS) contributions.
• Pension contributions under the Pension Reform Act.
• Interest on loans for an owner-occupied home.
• Life insurance or annuity premiums (for you or your spouse).
• Rent relief: 20% of annual rent (max ₦500,000) with proper documentation.
________________________________________
4. Key Considerations
• Record Keeping: Keep details of share purchases, sales, costs, and dividends received.
• Compliance: File returns even if your income is exempt.
• Seek Professional Advice: Tax rules can be complex and exemptions depend on your specific case.

mikeapollo:
Thanks for this.
Would these taxes not affect the NGX negatively, to the benefit of the fixed income market?
I cannot imagine paying such taxes on my gains in NGX when T. Bills and Bonds would only cost me WHT at 10%.
Or am I missing something?