₦airaland Forum

https://open.spotify.com/episode/6IDnYAJFT0CJZDsAKUOQDD

Summary of today's trading session on the NGX

rmx:
Access was up today again

Yes o. It is gradually inching up. I hope it will do N30 by Monday.

Make your input known on how Govt should collect, share and implement Tax returns amongst other input in the forthcoming
Finance Act 2027

Method1 via Email responses to: financebill2027@fmf.gov.ng

Other methods/ Detailed Info:

https://punchng.com/fg-seeks-nigerians-inputs-for-2027-finance-bill/

yMcy56:
Anyone with FIRSTHOLDCO should just hold it....because, if the race for banking begins, Otedola will make sure First Bank is leading.....😁

* It's even remaining STANBIC to clear out of the road self....😊

Abeg DD o

Hmm.

yMcy56:
I hope he does what's right for the shareholders this time around.....
OANDO shouldnt be trading below 250 at least....if everything has been normal.

Any insight into why all the delays in everything wale tinubu proposes as solutions?

NGX Market Summary : Friday, August 28, 2026 https://naijaticker.com/news/naijaticker/ngx-market-summary-friday-august-28-2026?utm_source=nairaland&utm_medium=referral&utm_content=thread

Mpeace:
Chai I sold half of my Seplat to buy FBNH. I no know whether to vex or happy. Everything feels the same.

Wetin you want people I Oando to talk?
I no call mikeapollo name o
🏃🏃🏃

Seunn11:
Any insight into why all the delays in everything wale tinubu proposes as solutions?

One can never know what's going on in the mind of those Ogas most times, until they say it out.
I think the RI delay has to do with the distribution of shares.....
There could be a clause in the NGX Rules that's holding the whole process down..

* Although the update so far was that the application has been re-submitted to SEC and we're awaiting the approval....
* I somehow saw somewhere that it has been approved but I think it hasn't.

* The worst part is the silence on the part of the CEO, if he has been speaking or carrying investors along, the price won't be nosediving like this.

* Possibly they wanted to pack it much cheaper.
* AGM is 17th Sept, hopefully there'll be update before then.

Oasisblue:
BUA Food and UNILEVER losing full 10%. This market isnt nice at all these days. Is it because politicians are pulling out money to run elections?

What is the present situation of Bua Foods Plc and Unilever Plc?

SonofElElyonRet:
Wetin you want people I Oando to talk?
I no call mikeapollo name o
🏃🏃🏃

Your hand they always wan hold and press "my delicate something" "
Be careful ooo

rmx:
Access was up today again

The 100% from current price is a foregone conclusion. I'm still accumulating my next target; I suspect that will yield 7x from current price. Once I finish accumulating I will start promoting it here.

P.S I have bought 29% of what I plan/hope to buy.

yMcy56:
One can never know what's going on in the mind of those Ogas most times, until they say it out.
I think the RI delay has to do with the distribution of shares.....
There could be a clause in the NGX Rules that's holding the whole process down..

* Although the update so far was that the application has been re-submitted to SEC and we're awaiting the approval....
* I somehow saw somewhere that it has been approved but I think it hasn't.

* The worst part is the silence on the part of the CEO, if he has been speaking or carrying investors along, the price won't be nosediving like this.

* Possibly they wanted to pack it much cheaper.
* AGM is 17th Sept, hopefully there'll be update before then.

Good response.
It is interesting to note that at 33.10 naira, oando is trading at 0.26% of seplat which is already trading at 12,320.00 naira and at full bid as at today August 28 2026.

nosa2:
The 100% from current price is a foregone conclusion. I'm still accumulating my next target; I suspect that will yield 7x from current price. Once I finish accumulating I will start promoting it here.

P.S I have bought 29% of what I plan/hope to buy.

Oga Nosa, tell us, make we dey follow you accumulate.

yariman:
Oga Nosa, tell us, make we dey follow you accumulate.

The stock is very illiquid. I don't need competition in my buying stage

nosa2:
The 100% from current price is a foregone conclusion. I'm still accumulating my next target; I suspect that will yield 7x from current price. Once I finish accumulating I will start promoting it here.

P.S I have bought 29% of what I plan/hope to buy.

Enjoy . Naira assets are still looking good

nosa2:
The 100% from current price is a foregone conclusion. I'm still accumulating my next target; I suspect that will yield 7x from current price. Once I finish accumulating I will start promoting it here.

P.S I have bought 29% of what I plan/hope to buy.

Which promotion pass this one ?

SmartInsure:
NGX Market Summary : Friday, August 28, 2026 https://naijaticker.com/news/naijaticker/ngx-market-summary-friday-august-28-2026?utm_source=nairaland&utm_medium=referral&utm_content=thread

Early 2008 These guys were earning big time now they been replaced by quants.

The Nigerian FX market

In my last update on the Nigerian FX on this platform, I gave an optimistic view that despite the US/Israel-Iran war, fundamentals support Naira appreciation. At that time, the Naira was around N1365/$, but today it’s at N1336/$.

Any changes to my view, especially as we approach elections? NO

I believe the naira could touch N1310 or even below before year-end.

Why am I optimistic?

We know Q3 is usually associated with increased FX demand from vacation spending and international school fees. Despite this demand, the naira has been strengthening. I know you will ask me to check the parallel market (see my write-up here: x.com/OlaoluBoboye/s…). After the parallel market story, check monthly FX inflows: they've averaged $3.9 billion since the start of the year, or $4.2 billion over the last 3 months. You can pick any period; the result is the same.

What I like about the FX inflow story

- In the last 3 months, inflow from the CBN is about 11.2% of total inflows on average, showing that the CBN is now acting like a regular participant in the market rather than a dominant FX supplier. This counters the argument that the CBN may be force-fitting the naira. In fact, CBN FX intervention is so small, less than $500 million/per month and even in some months they did not show up at all. So, the naira is supported by fundamental factors.

- Local inflows are now accounting for over 60% of total inflows, reducing the dominant flows from foreigners, especially FPIs. More gist on FPIs. Of the $18.4 billion OMO outstanding, FPIs account for 70.0%-80.0%, or about $12.9 billion-$14.7 billion. (I feel like talking more, but the write-up don dey long. I will do another post on changes in OMO restriction, reduced time to maturity in recent OMO issuances, Private OMO maturities, etc. )

Other fundamental factors supporting the Naira

- CBN's decision to temporarily increase banks' weekly FX sales to Bureau De Change (BDC) operators from $150,000 to $1.0 million, split 70.0% via transfers and 30.0% in cash. The measure should improve dollar availability in the retail segment, where demand is less efficiently intermediated through the formal banking system.

- FX reserves at $53.0 billion; my year-end projection remains $55.0 billion. Net FX reserves are over $40 billion, per the CBN's last communication.

- Following the president’s executive order mandating that some previously held NNPC funds be paid into the federation account, NNPCL dollar remittance has increased, supporting higher inflows into the FX reserves. NNPCL’s monthly average flows are now at over $500.0 million vs last year’s average of $321.0 million. I heard that NNPCL now sometimes participates in the FX market, selling FX directly rather than solely remitting to the FGN via the CBN.

- International Oil Companies (IOCs) are also increasing FX supply into the market, doing around $150 million per month in supply.

Overall, the market is liquid, supported by adequate dollar inflows and less encumbered FX reserves.

~ Economist Boboye

Itzlinda:
Atiku said he will open all land borders if elected.

Seems like Atiku is coming with everything in his arsenal to make sure he wins this time.

He's promising to implement many populist policies if he get elected

Less of populist policies and more of the last kick of a dying horse.

1. The borders are not closed.

2. Even if the borders are closed and are to be opened, it is hundred times more to favour his people especially the rich that made their money through smuggling. The earlier the other regions see what he is trying to push, the better.

3. Is selling National assets part of populist agenda? At least, AA body language and antecedents can and will always show where he stands on that.

4. D'banj asked , why me? Balloteli asked, why always me? We are asking AA, why now?

Seunn11:
Good response.
It is interesting to note that at 33.10 naira, oando is trading at 0.26% of seplat which is already trading at 12,320.00 naira and at full bid as at today August 28 2026.

It isn't enough to compare 2 companies this way.

📈 Oando vs. Seplat: A Tale of Two Turnarounds
A quick head‑to‑head between these two energy giants reveals a clear picture – two companies in the same sector, but at very different stages of their corporate journeys.

Let's start with the numbers.

📊 By the Numbers
Seplat has roughly 600 million shares outstanding, while Oando has a massive 9.57 billion shares – a key reason why Oando's share price appears lower, but also a sign of its heavily diluted structure.

When it comes to market cap, Seplat leads comfortably at over $5.2 billion, while Oando lags behind. Revenue tells a similar story: Seplat's ₦2.50 trillion in H1 2026 beats Oando's ₦2.06 trillion. The gap widens further on profitability – Seplat's ₦225.5 billion profit after tax is more than three times Oando's ₦68.56 billion.

Earnings per share (EPS) also favours Seplat, with $0.27 (H1 2026) compared to Oando's ₦24.19 (TTM). Seplat's P/E ratio stands at a healthy ~15.5x, while Oando's is just ~1.49x – a sign that the market is pricing in significant risk, likely tied to Oando's high debt load and negative shareholder equity.

On production, Seplat averages 139,509 boepd – over three times Oando's 42,789 boepd. This operational scale gives Seplat a clear edge.

In terms of liquidity, both companies have similar cash positions – ₦598.3 billion for Seplat and ₦544.9 billion for Oando – but Seplat's balance sheet is notably healthier.

Market performance tells the final story: Seplat is up over 90% year‑to‑date, while Oando is down nearly 28%. The market is voting with its feet – rewarding profitability, stability, and a clear strategy.

💎 The Bottom Line
Seplat is the clear market leader – profitable, stable, and well‑positioned for the long haul. It has a proven track record, a strong balance sheet, and a clear growth strategy.

Oando, on the other hand, is a speculative turnaround story. Early signs of recovery are visible, but the numbers show it is not yet a genuine competitor to Seplat on fundamental strength. Its extremely low P/E reflects the market's scepticism, not value.

Seplat is the steady, proven choice. Oando is a high‑risk bet on a recovery that has yet to fully materialise.

Choose wisely based on your risk appetite. 🚀📉

jonnysessy:
Which promotion pass this one ?

This one Na appitizer.

In addition Oando's H1 PBT was negative..... However PAT was positive..... Do what you would with that information. If Wale likes the price should go to 4 naira.... It's aura for aura... OANDO is a far better win/loss that japaulll fraud

ppogba:
Less of populist policies and more of the last kick of a dying horse.

1. The borders are not closed.

2. Even if the borders are closed and are to be opened, it is hundred times more to favour his people especially the rich that made their money through smuggling. The earlier the other regions see what he is trying to push, the better.

3. Is selling National assets part of populist agenda? At least, AA body language and antecedents can and will always show where he stands on that.

4. D'banj asked , why me? Balloteli asked, why always me? We are asking AA, why now?

Like how other regions has seen what the present government has represented for almost 4 yrs.It has shown regional appointments is beautiful ideology
So nothing wrong if Atiku has the interest of his region too at heart .Has alot of policy and contracts not favoured lagos than many states in the North. Look at the investment in air/sea ports in lagos

Streetinvestor2:
Like how other regions has seen what the present government has represented for almost 4 yrs.It has shown regional appointments is beautiful ideology
So nothing wrong if Atiku has the interest of his region too at heart .Has alot of policy and contracts not favoured lagos than many states in the North. Look at the investment in air/sea ports in lagos

I am still waiting to read your comment on the re-classification of Nigeria as a frontier market. How come something like that escaped your view?

Seunn11:
Good response.
It is interesting to note that at 33.10 naira, oando is trading at 0.26% of seplat which is already trading at 12,320.00 naira and at full bid as at today August 28 2026.

For a company making Trillions as revenue and already in billion profits range, I think OANDO is just a matter of time.

For those saying they intend going private, I don't think so.
Sometimes ago, people here have highlighted some reasons it can't work out or pay off.
* Wale knows what to do once they're ready to make the company deliver.


** Meanwhile, campaign is kicking off already....
Frontier Market Status, one of the campaign achievements for 2027 elections....😊

https://www.channelstv.com/2026/08/28/fg-hails-nigerias-return-to-frontier-market-status/

Seunn11:
Good response.
It is interesting to note that at 33.10 naira, oando is trading at 0.26% of seplat which is already trading at 12,320.00 naira and at full bid as at today August 28 2026.

They don't have the same outstanding shares and profitability

*Sterling Bank wants to raise N30B via bonds — gets BBB+(NG) indicative rating* 💼

*What’s happening*
Sterling Bank is going to the debt market through its SPV: *Sterling Investment Management SPV Plc*.

*The Bond Details:*
- *Issuer*: Sterling Investment Management SPV Plc
- *Amount*: Up to *N30 billion* Series 1 Senior Unsecured Fixed Rate Bond
- *Tenor*: *7 years* - matures in 2033
- *Coupon*: Paid *semi-annually* in arrears
- *Repayment*: Bullet principal at maturity
- *Call option*: Sterling can redeem early after 24 months
- *Use of proceeds*: Passed through to Sterling Bank to finance "risk assets" - i.e. loans

This is the *first issuance* under a larger *N250 billion Bond Issuance Programme*.

*The Rating*
*GCR Ratings* gave it: *BBB+(NG)(IR) - Stable Outlook*
- "National scale long-term indicative Issue rating"
- "IR" means Indicative Rating — final rating comes when the bond is actually issued
- This rating is *equal to Sterling Bank’s own issuer rating* of BBB+(NG) upgraded in Sept 2025.

*Why it’s equal*: Sterling Bank is the "ultimate obligor". The SPV just raises the money and passes it to the bank. So if Sterling Bank defaults, bondholders get hit. The bond ranks _pari passu_ with all other senior unsecured debt of the bank.

*What BBB+(NG) means*
On GCR’s national scale, BBB+ is "adequate credit quality". Low to moderate default risk in the Nigerian context. Stable outlook means GCR doesn’t expect a downgrade soon.

*Rating sensitivity*:
- *Upgrade* if Sterling Bank’s rating goes up
- *Downgrade* if Sterling Bank is downgraded or if they break bond covenants

*Context in Aug 2026*
This is happening while:
1. *Banks are flush with capital* - after the N3.37T recapitalisation
2. *Investors are chasing bank paper* - Zenith, GTCO, Access dominated N14.3B of NGX trading on Aug 28
3. *Sterling Bank* itself was also among the most actively traded with 37.21M shares worth N282.95M on Aug 28.

Banks are now tapping both equity AND debt to grow loan books now that they have bigger capital bases.

*Key takeaway*
Sterling is basically saying: "We have N250B bond program approval. Let’s start with N30B to lend out."
For investors: 7-year fixed rate, semi-annual coupons, backed by Sterling Bank’s balance sheet. Risk = Sterling Bank’s credit risk.

emmanuelewumi:
They don't have the same outstanding shares and profitability

You are absolutely right.
My thinking is that if OANDO is doing a bit well, their share price should not be so abysmally low for an Upstream Oil and Gas Company.
It is like being a Physics student in an Ivy league University but being unable to plot a linear graph! What is the student doing there??

If it were to be some other countries, the management would have been sacked for gross incompetence.

Seunn11:
You are absolutely right.
My thinking is that if OANDO is doing a bit well, their share price should not be so abysmally low for an Upstream Oil and Gas Company.
It is like being a Physics student in an Ivy league University but being unable to plot a linear graph! What is the student doing there??

If it were to be some other countries, the management would have been sacked for gross incompetence.

Who will sack the owner-management 🤔

Seunn11:
You are absolutely right.
My thinking is that if OANDO is doing a bit well, their share price should not be so abysmally low for an Upstream Oil and Gas Company.
It is like being a Physics student in an Ivy league University but being unable to plot a linear graph! What is the student doing there??

If it were to be some other countries, the management would have been sacked for gross incompetence.

Did you also consider the quality of their balance sheet and their earnings

Madam Mercy welldone ma
Pls what range of target price for Tip and cwg in December ma.

popoolaRofiat:
Madam Mercy welldone ma
Pls what range of target price for Tip and cwg in December ma.

I think this is going to be based on the numbers and their Q3 and possibly Q4 financial reports...
Sentiments may now play some parts....

* For CWG, the fair value is around N21.40 based on H1 2026 (H1 means Half year or Jan to June)
* If there's more improvement and delivery, then the fair price will be higher than this.
(Although the gurus can make projections of what price it could attain based on some metrics)
** Some are placing the target price @40
** CWG is a defensive and Beta stock**

For TIP, I've not really been following the stock.
Maybe someone who's following it can assist with the calculations and price projection.