₦airaland Forum

The local equities exchange started the third week of July on a remarkably strong note as renewed investor optimism swept through trading floors. Strategic accumulation of industrial and financial assets pushed total NGX market capitalization growth up by 1.76 trillion naira in a single trading session. Consequently, total valuation hit 158.81 trillion naira, pushing year-to-date market returns to an impressive 58.20 percent.

Broad Participation Across Heavyweight Assets

Beyond banking, buying momentum spread across multiple core sectors as investors sought balanced exposure to quality assets. According to trading updates published by Nairametrics, several major industrial and insurance counters experienced sharp price appreciations:

Understanding this explosive market rally requires looking back at the earnings releases that reshaped investor sentiment earlier in the week. Banking stocks have experienced unprecedented buying pressure following stellar half-year financial statements across top tier-1 institutions.

First HoldCo served as the primary engine for this market surge. The financial services giant recently published its half-year results, reporting a massive pre-tax profit exceeding 653.5 billion naira for the six months ending June 30. That exceptional performance ignited aggressive buying interest that pushed the lender’s stock up 9.95 percent to a new high of 105.50 naira.

The stock alone accounted for 21.52 billion naira of the day’s total transaction value, reflecting massive institutional accumulation following its stellar earnings report.

The stock alone accounted for 21.52 billion naira of the day’s total transaction value, reflecting massive institutional accumulation following its stellar earnings report.

Broad Participation Across Heavyweight Assets

Beyond banking, buying momentum spread across multiple core sectors as investors sought balanced exposure to quality assets. According to trading updates published by Nairametrics, several major industrial and insurance counters experienced sharp price appreciations:

Custodian Investment: Advanced 10.00 percent to close at 75.90 naira.

NEM Insurance: Gained 10.00 percent to reach 30.80 naira

BUA Cement: Rose 9.98 percent to settle at 303.10 naira.

NGX Group: Jumped 6.63 percent to trade at 139.90 naira.

United Bank for Africa: Increased 6.37 percent to close at 48.40 naira.

Despite 30 stocks closing in the red, strong demand for heavyweights kept market sentiment heavily tilted toward the bulls.

https://naijaeyesblog.com/nigerian-stock-market-surges-as-investors-add-1-76-trillion-naira/

Toh. What do I know. Since I missed zenith bank’s shares two years ago I have never been interested in Nigerian stocks

Very Cool.

Way To Go!


This Shows Improvement In Nigeria's Top Companies....

Somebody is pumping this turd coin and its not going to be funny when it comes crashing. This is equivalent of people putting their funds on Solana .

Why not when the head of the country is making favourable policies

More to come

Investors meaning banking and insurance recapitalisation funds, to redress their eroded capital and asset value due to hyperinflation because the master strategist failed to crash the price of petrol and failed to make a dollar equal to N300 in the short term despite borrowing SPV $3.3 billion from Afreximbank to defend the currency

When will these window dressing propaganda stories stop? Will they ever stop

ijustdey:
Nigeria will pay an interest of 11.85 percent per annum on the $3.3 billion “pre-export finance facility” (PxF) facilitated by the Nigerian National Petroleum Company (NNPC) Ltd and arranged by Afrexim Bank, TheCable can report.

Until now, the fine details of the transaction, which has a five-year tenor, had been withheld by all parties involved.

A similar cocoa-backed $800 million facility arranged for Ghana by its cocoa marketing board attracts an interest of 8 percent per annum.

Bilateral lenders, such as the International Monetary Fund (IMF), would typically charge 1-3 percent with a longer tenor.

In the details seen by TheCable, Nigeria pledged a total of 164.25 million barrels of crude oil — at 90,000 barrels per day — starting from 2024 to repay the loan through Project Gazelle Funding Ltd, an “orphan” special purpose vehicle (SPV) incorporated in Bahamas for the PxF.

Effectively, the NNPC has pledged 38.58 percent of five years’ worth of tax and royalty oil to secure the loan.

Nigeria pledges over $12 billion worth of oil
At the beginning of 2024, a barrel of Nigerian oil was sold at the international market at $77.93 per barrel, according to the Central Bank of Nigeria (CBN) data.

At $77.93 per barrel, the 164.25 million barrels of oil pledged by Nigeria equals $12.8 billion — about three times more than the facility taken.

Pre-2014, the national oil company used to remit an average of $3 billion from oil sales every month.

Officially, Project Gazelle Funding Ltd (PGFL) is the borrower while the NNPC is the “sponsor” and will pay with oil to the SPV to liquidate the loan.

To make the repayment, the NNPC will forward-sell 90,000 barrels per day of Nigeria’s share of offshore crude oil under the production sharing contract (PSCs) with the oil companies.

Under PSCs, the companies usually pay royalties and taxes by giving the oil equivalent to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Federal Inland Revenue Service (FIRS) respectively.

The NNPC in turn exports the oil on behalf of NUPRC and FIRS and remits the proceeds to the agencies.

This is part of the revenues paid into the federation account and shared by the three tiers of government.

But under the PxF, the revenue from 90,000 barrels per day will be used to service the loan in the next five years.

The loan arrangers will get a commission of $66 million or 2% of the facility, TheCable further learnt.

Nigeria will pay 2 percent penalty per annum in the event of a default.


‘DOLLAR LIQUIDITY TO STABILISE THE NAIRA’

The national oil company announced in August 2023 that the PxF was to support the federal government “in its ongoing fiscal and monetary policy reforms aimed at stabilizing the exchange rate market”, describing it as “a relief for the naira”.

It called the facility “crude oil repayment” with an upfront cash loan “against proceeds from a limited amount of future crude oil production”.

At the time, the dollar exchanged for an average of N775 in the official market and N885 on the streets.

The rates have now moved to N1,035/$ (official) and N1,230/$ (parallel).

Nigeria’s outstanding forex liabilities are currently thought to be over $7 billion.

In an explainer after announcing the PxF last year, the NNPC said its exposure is very limited, “covering just a fraction” of their entitlements and that “there are no sovereign guarantees tied to it”.

It said it “will also equip the Federal Government with the necessary dollar liquidity to stabilize the Naira, with limited risk”.

A strengthened naira as a result of the initiative, it said, “will lead to a reduction in fuel costs. This means that if the Naira appreciates in value, the cost of fuel will drop and further increases will be halted”.

It also ruled out subsidies, maintaining that a stronger naira “will result in lower prices from the current level, making subsidies unnecessary. The deregulation policy remains unchanged”.

Critics questioned NNPC’s involvement in getting loans to boost forex reserves when it should be concentrating its efforts on bringing in more oil revenues.

There were also questions over the decision to pledge the tax and royalty oil belonging to the entire federation to secure the loan.

Analysts also queried why the details of the deal were never made public.

https://www.thecable.ng/exclusive-nigeria-to-pay-11-85-interest-on-3-3bn-afriexim-nnpc-loan-pledges-164m-barrels-as-security/amp

That's how I was deceived then to invest in Neimeth pharmaceuticals. The value is now a piece of trash. Run o..

Stocks in Tinubu s era in Nigeria is a Trap just run

davenews:
The local equities exchange started the third week of July on a remarkably strong note as renewed investor optimism swept through trading floors. Strategic accumulation of industrial and financial assets pushed total NGX market capitalization growth up by 1.76 trillion naira in a single trading session. Consequently, total valuation hit 158.81 trillion naira, pushing year-to-date market returns to an impressive 58.20 percent.

Broad Participation Across Heavyweight Assets

Beyond banking, buying momentum spread across multiple core sectors as investors sought balanced exposure to quality assets. According to trading updates published by Nairametrics, several major industrial and insurance counters experienced sharp price appreciations:

Understanding this explosive market rally requires looking back at the earnings releases that reshaped investor sentiment earlier in the week. Banking stocks have experienced unprecedented buying pressure following stellar half-year financial statements across top tier-1 institutions.

First HoldCo served as the primary engine for this market surge. The financial services giant recently published its half-year results, reporting a massive pre-tax profit exceeding 653.5 billion naira for the six months ending June 30. That exceptional performance ignited aggressive buying interest that pushed the lender’s stock up 9.95 percent to a new high of 105.50 naira.

The stock alone accounted for 21.52 billion naira of the day’s total transaction value, reflecting massive institutional accumulation following its stellar earnings report.

The stock alone accounted for 21.52 billion naira of the day’s total transaction value, reflecting massive institutional accumulation following its stellar earnings report.

Broad Participation Across Heavyweight Assets

Beyond banking, buying momentum spread across multiple core sectors as investors sought balanced exposure to quality assets. According to trading updates published by Nairametrics, several major industrial and insurance counters experienced sharp price appreciations:

Custodian Investment: Advanced 10.00 percent to close at 75.90 naira.

NEM Insurance: Gained 10.00 percent to reach 30.80 naira

BUA Cement: Rose 9.98 percent to settle at 303.10 naira.

NGX Group: Jumped 6.63 percent to trade at 139.90 naira.

United Bank for Africa: Increased 6.37 percent to close at 48.40 naira.

Despite 30 stocks closing in the red, strong demand for heavyweights kept market sentiment heavily tilted toward the bulls.

https://naijaeyesblog.com/nigerian-stock-market-surges-as-investors-add-1-76-trillion-naira/

Why is everything going positive with Jagaban despite the negative wishes of the obidients


Tinubu till 2031.

This has nothing to do with Tinubu, it is because Peter Obi will soon take over from Tinubu. Peter Obi is such a good man.

Though South Africa is still far ahead in terms of Market Capitalization, Nigeria's market capitalization has consistently gone up since 1999.

Since this growth doesn't level up with the reality of Nigerians who have become more impoverished, this tells you that NIgeria is not broke, never has been broke, the money is simply siphoned by a few people who put it on the stock market

This is why Tinubu has to go for a leader like Peter Obi who can fight corruption and invest the commonwealth in the places that matter

Omo I don join for the investors cuz I opened a portfolio yesterday. Wish me luck 🍀 🤞

Richtaiwo:
This has nothing to do with Tinubu, it is because Peter Obi will soon take over from Tinubu. Peter Obi is such a good man.

~ Obedients

Old man, small pikin IQ...na the result be dis

Those lazy noisemakers won't see this opportunity and think how can they explore than crying here all the time.

Audio surge. Apc lies and propaganda

Audio surge. Apc lies and propaganda.

Make i no talk say money dey, economy has tanked crooners go tell me story of percentage.

Pump started.

Dump coming.

Obidients will be very sad with this development

As an Obidient, I am very much impressed with this news.

givedemwotowoto:
Though South Africa is still far ahead in terms Market Capitalization, Nigeria's market capitalization has consistently gone up since 1999.

Since this growth doesn't level up with the reality of Nigerians who have become more impoverished, this tells you that NIgeria is not broke, never has been broke, the money is simply siphoned by a few people who put it on the stock market

This is why Tinubu has to go for a leader like Peter Obi who can fight corruption and invest the commonwealth in the places that matter

Your comment was making sense until you decided to introduce the politics of Tinubu and Peter Obi turning it into a political nonsense.

Gboss247:
Your comment was making sense until you decided to introduce the politics of Tinubu and Peter Obi turning it into a political nonsense.

Are you the comment moderation police?

Take the part you like and move on.

givedemwotowoto:
Are you the comment moderation police?

Take the part you like and move on.

There law on Nairaland that says you comment on a post. So it would be better to ignore things you understand rather than introducing irrelevant political nonsense.

"Be fearful when others are greedy, and greedy when others are fearful." - Warren. Buffet

Richtaiwo:
This has nothing to do with Tinubu, it is because Peter Obi will soon take over from Tinubu. Peter Obi is such a good man.

~ Obedients

you made it. congratulation

Advertisershubs:
Very Cool.

Way To Go!


This Shows Improvement In Nigeria's Top Companies....

did you invest in Nigeria stock market

Time to short the market. IYKYK

123readygo:
Toh. What do I know. Since I missed zenith bank’s shares two years ago I have never been interested in Nigerian stocks

This is the REALITY OF THE NIGERIA-ECONOMY COMING BACK STRONGER 💪 AND THE WORLD 🌎 IS JUMPING ON IT .
Actually, NIGERIA Can Dictate to the World,If Only Our Leaders get their their Bearings Well.
But to some, they still live their Pretentious life,for Falsely Claiming Without them,225Milion People- Can't move ⏩ ⏩.
That is what they do on Social Media with gaulible audiences.
We know Mistakes were made in the PAST,
We know Errors Were Made and Committed And Some People Benefits.
But We Must Chose Forgiveness Of One Another,For know Nation Is Perfect,Not UK,nor USA,not even China, But We Moved 💪👍👏
God Bless President Tinubu🎉.

Klington:
Audio surge. Apc lies and propaganda.

Unfortunately, people like you dances around the Social Media houses, thinking negative thoughts will influence the Majority but the World 🌎 See Opportunities in Nigeria Future.
That is Why Shell Petroleum Could Boldly Cough out 1$-Billion Dollars 💰 Investing in Nigeria.
You Did Not See that Coming 😂
The World is serious on Nigeria,but you can keep on Deceiving yourself,for people like you with Bitterness, Manipulations, Falsehoods and Innuendos is like a rolling Stone 🪨 that gathers no moisture,so the World Moves For NIGERIA 😁!

Richtaiwo:
This has nothing to do with Tinubu, it is because Peter Obi will soon take over from Tinubu. Peter Obi is such a good man.

~ Obedients

Even tinubu will be marveled by this poo you uttered

impressive the Nigerian stock market is doing well

K

Kaczynski:
Somebody is pumping this turd coin and its not going to be funny when it comes crashing. This is equivalent of people putting their funds on Solana .

Ignorant at its peak.

Good results drive stock growth.