₦airaland Forum

why is your account on Private Huh

Why? Why ? Why ? Why!!!! Why.............

.... you dont post frequently .. you dont repost frequently also... and you want to popular/social media famous

i don't understand... and that's just weird.... and once you've gone weird... there is no coming back

Seen .... wait for my come back.... when they can't win....... they manipulate/manufacturer, victory ... Make Tinubu commot from Office 1st....how do you think I'd remove the current chairman of 1st bank grin grin grin grin manufacted victory....... #TeamOtudeko

Manufactured Victory ✌️

To the President of Nigeria .... things like these undermine your work internationally

But still...... wait for my come back ..... on this bull sh*t

The Popular Topic : OLODO UPRISING / CULTURE

Olodo Uprising/ Culture is a Currency the Government of Nigeria and Nigerian Celebrities as a whole, enjoy and spend very well....

I won't write too much about the Government Part... but it stems from neglect...

For the Nigerian Celebrities...

1: How did Davido, 1st promote his current latest single i know who i am... .... through Carter Efe Live stream... which he has also been a guest on, same Carter Efe that claimed to have a 1st class upper degree from a university in nigeria...

2: Tundee Ednut... has positioned his social media platform as the go to place to make it big if you are starting out in the Olodo Uprising Culture ....

3: How does Don Jazzy Keep people on his page.... continually supporting the Olodo Uprising and Culture

4: Wizkid, BurnaBoy & Davido even Small New Rema, any opportunity in front of a camera or people, they must promote their colors association....

5: How do Nollywood celebrities, promote a new movie .....

Olodo Uprising / Culture is a Currency they all enjoy spending and using .... So the Pot cannot call the kettle black ...

Aaaaaaaaaaaaaaaaaaaaaa

Aaaaaaaaaaaaaaaaaaaaaaaaaa

Aaaaaaaaaaaaaaaaaaaaaa

.. .. ___ ___

SUBJECT: Suspected Market Manipulation – MERGROWTH & MERVALUE ETF (NGX)

To: NGX RegCo / SEC Nigeria

For the past three weeks, MERGROWTH and MERVALUE ETF have consistently hit the -10% limit between 2:20–2:30 PM daily — immediately before market closes for the day..

Given the thin liquidity of these ETFs, this pattern — same instruments, same time, same maximum loss, repeated weekly — is consistent with deliberate end-of-day price depression ("marking the close"

Which is prohibited under the ISA 2025 and SEC Nigeria market conduct rules.

I request that NGX RegCo's market surveillance unit investigate the identity and intent of parties placing sell orders in this window over the past three weeks.

SUBJECT: Suspected Market Manipulation – MERGROWTH & MERVALUE ETF (NGX)

To: NGX RegCo / SEC Nigeria

For the past three weeks, MERGROWTH and MERVALUE ETF have consistently hit the -10% limit between 2:20–2:30 PM daily — immediately before market closes for the day..

Given the thin liquidity of these ETFs, this pattern — same instruments, same time, same maximum loss, repeated weekly — is consistent with deliberate end-of-day price depression ("marking the close", which is prohibited under the ISA 2025 and SEC Nigeria market conduct rules.

I request that NGX RegCo's market surveillance unit investigate the identity and intent of parties placing sell orders in this window over the past three weeks.

Skin Color :: The argument that Black people can't build or run things is fundamentally flawed. Given equal opportunity, a Black person will perform just as well as a white person.

Obama was given the opportunity and became President of the United States.

The French national football team has alot of black players.

Opportunity and environment determine outcomes, not skin colour.

My belief is that Black nations suffer from weak institutional systems that fail to prosecute leaders. Instead, leaders are treated as untouchable — revered like gods — and so they steal and plunder the very opportunities that should be used for national growth.


JSE vs NGX gap.

Two things explain it.
Institutional depth : The JSE is over 130 years old. NGX is younger and growing.

Listing culture. Nigeria's most valuable companies are deliberately private.

Here a few examples ::

No airline listed — e.g Air Peace
No supermarket chain — e.g Ebano, Spar Nigeria,
Fast food chain : Chicken Republic
No logistics company — GIG, Peace Mass Transit.
No automotive manufacturer — Innoson
Several banks that met recapitalisation thresholds but didn't list
Few real estate firms — Brains & Hammers
No fintech unicorn or start up :: Flutterwave, monie point, Plam Pay,
should have listed on NGX also (Paystack should have listed before any acquisition conversation started)

By the time you count the privately held Nigerian companies that should have listed, you understand the real source of the gap.

Just adding :: Shoprite's exit or shut down isn't or wasn't caused by the Nigerian economy — Ebano, Spar, Market Square, and other super market chains are still open and doing business. The economy didn't chase Shoprite out.


On currency,devaluation or fluctuation I won't argue that.

Valthegreat:
Oboy! The gap between JSE and NSE is like the distance between heaven and earth. NSE can't reach the distance in 20 years time even if they place an embargo on JSE growth. We must give it to the whites that they know how to run countries and economies. Zulus and Xhosas couldn't have achieved anything close to where South African economy is today on their own but they know how to make mouth because people who believe in development have built the system already.

GeneralDae:
I don’t want to be racist but to be honest I don’t know if it has to do with our black skin 😀😭(I still doubt that). Because even the other countries just behind Nigeria are white North Africans (Morocco and Egypt).

Now look at the gap between 4th place Egypt and no 5 called BRVM ( a regional West African exchange consisting of 8 countries together in West Africa). Note that these 8 Francophone countries with just $27.5 Billion total market cap have had stable currencies backed by France for decades.

This Wonderful News Article.... i saw yesterday.... i laff tire..

I call it Cap.... Caprisone.... Cappo ChiChi .... Cap-Ci-na-titi..... Capa-li-titi..
I call it your eye go see the back of your head...

In business valuation or when valuing a business..
there is something called comps...
that is you look at other business in the same market and try to make an estimate of your valuation....

Una see weytin dem dey use Our Beloved Saviour .... Uncle Dangote eye dey see ...

it's a competition between premium shege and shege pro max on a daily basis, No break. No weekend. No public holiday.

And the shege for suppose pass this level... IF to say NNPC no get 7% inside the refinery. Cos Na why dem they allow am see 7% crude oil allocation... Because nothing concern NNPC and peaceful coexistence in doing business with dangote

Abeg barman... give MY UNCLE Dangote one cold bottle of beer! 🍺

If Dangote where to write a book about the Refinery in Nigeria.. I bet the tittle would be (The Journey I wish I never started)

Nigeria a whole oil producing country ... NO single reserve... NNPC no talk. NMDPRA no talk. The other agency wey get long name... also no talk.
Everybody dey observe one minute silence ....

I NO GO LIE it's quite embarrassing to be called a Nigerian... as from today... I'm from Burundi.....


Uncle Dangote From all of us... thank you for the Refinery....

omo I for don go back to dey call fuel attendant Chairman, Boss, my guy, Chief... correct guy, hold this 2k make you use remember me so when next I come you go run am for me ...

To the investor that wants to going into business with NNPC.... let Uncle Dangote .. be your mentor.....
If you see am beg am for him personal phone number... because you go too call am.... ..
so when NNPC... show you shege banza. Or shege dual pro maxx or shege evolution 2.0

.. Uncle Dangote can help you navigate...because Uncle Dangote is tried, tested and trusted ...

BAR MAN GIVE MY UNCLE DANGOTE ANOTHER BOTTLE OF COLD BEER...

TINUBU CAN SACK THE HEAD OF NNPC BUT HE CANNOT TELL NNPC TO ARRANGE CRUDE TO GIVE DANGOTE AND EASE THE PAIN ON NIGERIANS...

I NO GO LIE NA MAN YOU BE UNCLE DANGOTE....

NNPC OH..................

all these newbie abi new cat... with MTN 200ngn subscription.... don come again.... its called a BUY RECOMMENDATION

any ways i'll come back here to remind you....
current Market Price : 36
date : 23 March 2026

ghm:
I am just curious, were you paid to promote this company?
I asked because I saw it was being posted daily, even on weekends, I thought if you were not paid, posting it only once would be just fine and enough!

Oga Buy signal... I'll come back here to remind you...

Date : 22 March 2026
Current Market Price : 36

Harddiskng:
I just checked out stock using my template, it is giving off very weak buy signal. Let’s say if BUY was a telecom signal it has 1 out of 5 bars, well signal na signal not in my top 30 picks.

You don’t see to get the point, it is the way you are pushing the stock, the message it is sending to anybody that reads it is “THERE IS SOMETHING WRONG WITH THIS STOCK. BUY SO I CAN GET OUT OF IT”

Honest Answer : i don't know... when I gave a buy recommendation for Mecure when the price was 11 naira... that stock did +820% .... so I guess I'm expecting the same here ...

Mpeace:
What's your target exit price?

Something wey you suppose rush & buy now... you dey write plenty English

Mankind2024:
Could you please stop spamming this thread with aggressive stock promotions? A good stock shouldn't need such an intense campaign. You've made your point; now please give the thread some breathing room.
Thanks

Newbie or new cat ... I'll come back here to remind you... it feels more like stocks to avoid i swear

Date : 22 March 2026
Current Market Price : 36

Harddiskng:
The way you people market ehn, it feels more like stocks to avoid i swear

DATE : 22 MARCH 2026

BUY RECOMMENDATION : INDUSTRIAL & MEDICAL GASES NIGERIA PLC.

Ticker: IMG  |  NGX Listed  |  Sector: Industrials / Healthcare.
CURRENT PRICE : ₦36.00 | Hold Period : LONG TERM.

Industrial & Medical Gases Nigeria Plc (IMG) is Nigeria's dominant industrial gas company and the only quoted industrial gas player on the NGX.

BUY RECOMMENDATION and a long-term hold from the current price of ₦36.00.




Business Model — B2B (Business To Business)

IMG operates exclusively as a Business-to-Business (B2B) entity — zero retail or consumer exposure. Every naira earned comes from institutional, commercial, or industrial clients, creating a revenue profile that is structurally predictable, and recurring.


Why the B2B Model Creates Durable Competitive Advantage

1: Long-term supply contracts: Hospitals, refineries, and breweries sign multi-year agreements — revenue is locked in.
2: Infrastructure dependency: When IMG installs a Medical Gas Pipeline System (MGPS) or bulk cryogenic tank, the customer is captive for the life of that infrastructure.
3: Switching costs: Replacing IMG requires physical infrastructure change, equipment revalidation, and regulatory re-approval.
4: Regulatory moat: ISO 9001:2015 and FSSC22000v.5.1 certifications create barriers that new entrants need years to obtain.

CUSTOMER BASE & SECTOR ANALYSIS : SEE IMAGE BELOW

IMG's customer base spans Nigeria's most critical industrial and institutional sectors. The diversity of its clientele, from multinational oil majors to federal teaching hospitals to multinational beverage companies, provides exceptional revenue stability and cross-cycle resilience.


SECTOR:

1 : Oil & Gas : N₂ inerting, welding gases, specialty gases
2 : Food & Beverage (FMCG) : CO₂ carbonation, N₂ packaging
3 : Healthcare : Medical O₂, MGPS installation
4 : Manufacturing & Cement : Welding gases, O₂ for kilns
5 : Power & Energy : H₂, N₂ for turbine cooling/insulation
6 : Engineering Services : MGPS, customer engineering


COMPETITIVE LANDSCAPE

NGX-Listed Peers : IMG occupies a singular competitive position on the NGX. There are no directly comparable listed industrial gas companies in Nigeria.


PRODUCTS & SERVICES :

PRODUCTS : SEE IMAGE TABLE BELOW



Services : Engineering & Value-Added Services

• Medical Gas Pipeline Systems (MGPS): Design, installation, and commissioning of piped medical gas infrastructure — high-margin, sticky service with enormous growth potential given Nigeria's PHC upgrade mandate.

• Customer Engineering Services: Bespoke gas application optimisation — cited by Dangote Group's Director of Manufacturing as delivering significant production efficiency gains.

• Safety & Risk Management (SHEQ): Gas hazard assessments and risk frameworks — confirmed by Nigerian Breweries' Head of Safety as mission-critical.

• After-Sales Support & Installation: Ongoing maintenance of cylinders, cryogenic vessels, pipeline systems, and bulk tank installations.

Government Catalyst — February 2026

₦98bn Disbursed to Nigeria's PHCs :: President Tinubu confirmed over ₦98 billion disbursed to support operational expenses for over 8,300 Primary Healthcare Centres in 2025, with plans to expand to 13,500 PHCs nationwide. A further 2,565 centres have already been upgraded, with 1,456 currently undergoing renovation.

Why This Directly Benefits IMG

1 : Every upgraded or new PHC requires medical oxygen cylinders and ongoing supply.
2 : Fully equipped PHCs need Medical Gas Pipeline Systems (MGPS) — IMG's highest-margin service.
3 : 13,500 PHC target = thousands of new long-term institutional customers.
4 : ₦2.56 trillion healthcare budget allocation in 2025 signals a decade-long demand pipeline.
5 : IMG holds dominant market share in MGPS installation — no credible domestic competitor

Financial Performance & Analysis : (SEE IMAGE BELOW)

IMG's FY2025 financials tell a story of structural improvement at the operating level. Revenue was ₦8.38 billion while gross profit grew to ₦4.08 billion, a gross margin of 48.7%, up 220 basis points from 46.5% in FY2024.

• Cost of sales was reduced by 4.1% and selling and distribution expenses were cut by 19.6%, reflecting meaningful operational discipline.

These improvements demonstrate that the core business is becoming more efficient and more profitable on a per-naira basis with every passing year.

On the balance sheet, the transformation has been nothing short of extraordinary. Total equity has more than doubled to ₦11.78 billion, the company has moved from a net debt position to holding ₦2.16 billion in net cash, and book value per share has grown to ₦16.12. The ₦3.2 billion invested in property, plant and equipment in FY2025 — with a further ₦7.57 billion in the capital investment pipeline — positions the company for meaningful revenue growth as new capacity is commissioned through FY2026 and beyond.

Corporate Actions & Governance

Rights Issue (2025) — The Defining Transaction
In 2025, IMG executed a rights issue of 199,797,458 new shares at ₦32 per share .
The issue was 90.9% subscribed, raising approximately ₦5.8 billion net after expenses.
• Increased total equity by 99.2% from ₦5.91bn to ₦11.78bn
• Reduced borrowings by 97.5% from ₦5.33bn to ₦135.7m
• Eliminated annual finance costs of ~₦700m+
• Increased shares outstanding by 46.4%
• Positioned the company for debt-free growth financing.



Bonus Issue & Dividend History : SEE TABLE BELOW


INVESTMENT RECOMMENDATION — BUY
CURRENT MARKET PRICE: ₦36.00 (LONG TERM)

IMG is not merely an industrial company — it is a critical national infrastructure asset wearing the clothes of a mid-cap stock.

1: It provides the oxygen that keeps Nigerian patients alive.

2: the CO₂ that carbonates the drinks Nigerians consume daily.

3: the nitrogen that protects oil pipelines from combustion.

4: the argon that welds the steel structures of Nigeria's industrial economy.

This essential utility company, combined with a 65-year operational moat, zero debt, ₦7.6 billion in committed capital investment, and powerful government-driven healthcare tailwinds, makes IMG one of the most compelling risk-adjusted opportunities on the NGX today.


The (4) Four Pillars of Our BUY RECOMMENDATION

• PILLAR 1 — DEBT ELIMINATION: Finance costs that consumed ~₦700m annually have been permanently removed. FY2026 earnings will benefit directly.

• PILLAR 2 — CAPEX PAYOFF: ₦3.2bn invested in FY2025, with ₦7.57bn in WIP assets. As this capacity is commissioned in FY2026, it will drive revenue growth on a near-zero marginal cost basis.

• PILLAR 3 — HEALTHCARE MEGATREND: 13,500+ PHC upgrades mandated by the Tinubu administration create a decade-long demand pipeline for medical oxygen, MGPS installation, and gas supply that IMG is uniquely equipped to serve.


• PILLAR 4 — MONOPOLY MOAT: As the only NGX-listed industrial gas company with national production infrastructure, IMG has no domestic listed competitor.  — built over 65 years.

DATE : 20 MARCH 2026

BUY RECOMMENDATION : INDUSTRIAL & MEDICAL GASES NIGERIA PLC.

Ticker: IMG  |  NGX Listed  |  Sector: Industrials / Healthcare.
CURRENT PRICE : ₦36.00 | Hold Period : LONG TERM.

Industrial & Medical Gases Nigeria Plc (IMG) is Nigeria's dominant industrial gas company and the only quoted industrial gas player on the NGX.

BUY RECOMMENDATION and a long-term hold from the current price of ₦36.00.




Business Model — B2B (Business To Business)

IMG operates exclusively as a Business-to-Business (B2B) entity — zero retail or consumer exposure. Every naira earned comes from institutional, commercial, or industrial clients, creating a revenue profile that is structurally predictable, and recurring.


Why the B2B Model Creates Durable Competitive Advantage

1: Long-term supply contracts: Hospitals, refineries, and breweries sign multi-year agreements — revenue is locked in.
2: Infrastructure dependency: When IMG installs a Medical Gas Pipeline System (MGPS) or bulk cryogenic tank, the customer is captive for the life of that infrastructure.
3: Switching costs: Replacing IMG requires physical infrastructure change, equipment revalidation, and regulatory re-approval.
4: Regulatory moat: ISO 9001:2015 and FSSC22000v.5.1 certifications create barriers that new entrants need years to obtain.

CUSTOMER BASE & SECTOR ANALYSIS : SEE IMAGE BELOW

IMG's customer base spans Nigeria's most critical industrial and institutional sectors. The diversity of its clientele, from multinational oil majors to federal teaching hospitals to multinational beverage companies, provides exceptional revenue stability and cross-cycle resilience.


SECTOR:

1 : Oil & Gas : N₂ inerting, welding gases, specialty gases
2 : Food & Beverage (FMCG) : CO₂ carbonation, N₂ packaging
3 : Healthcare : Medical O₂, MGPS installation
4 : Manufacturing & Cement : Welding gases, O₂ for kilns
5 : Power & Energy : H₂, N₂ for turbine cooling/insulation
6 : Engineering Services : MGPS, customer engineering


COMPETITIVE LANDSCAPE

NGX-Listed Peers : IMG occupies a singular competitive position on the NGX. There are no directly comparable listed industrial gas companies in Nigeria.


PRODUCTS & SERVICES :

PRODUCTS : SEE IMAGE TABLE BELOW



Services : Engineering & Value-Added Services

• Medical Gas Pipeline Systems (MGPS): Design, installation, and commissioning of piped medical gas infrastructure — high-margin, sticky service with enormous growth potential given Nigeria's PHC upgrade mandate.

• Customer Engineering Services: Bespoke gas application optimisation — cited by Dangote Group's Director of Manufacturing as delivering significant production efficiency gains.

• Safety & Risk Management (SHEQ): Gas hazard assessments and risk frameworks — confirmed by Nigerian Breweries' Head of Safety as mission-critical.

• After-Sales Support & Installation: Ongoing maintenance of cylinders, cryogenic vessels, pipeline systems, and bulk tank installations.

Government Catalyst — February 2026

₦98bn Disbursed to Nigeria's PHCs :: President Tinubu confirmed over ₦98 billion disbursed to support operational expenses for over 8,300 Primary Healthcare Centres in 2025, with plans to expand to 13,500 PHCs nationwide. A further 2,565 centres have already been upgraded, with 1,456 currently undergoing renovation.

Why This Directly Benefits IMG

1 : Every upgraded or new PHC requires medical oxygen cylinders and ongoing supply.
2 : Fully equipped PHCs need Medical Gas Pipeline Systems (MGPS) — IMG's highest-margin service.
3 : 13,500 PHC target = thousands of new long-term institutional customers.
4 : ₦2.56 trillion healthcare budget allocation in 2025 signals a decade-long demand pipeline.
5 : IMG holds dominant market share in MGPS installation — no credible domestic competitor

Financial Performance & Analysis : (SEE IMAGE BELOW)

IMG's FY2025 financials tell a story of structural improvement at the operating level. Revenue was ₦8.38 billion while gross profit grew to ₦4.08 billion, a gross margin of 48.7%, up 220 basis points from 46.5% in FY2024.

• Cost of sales was reduced by 4.1% and selling and distribution expenses were cut by 19.6%, reflecting meaningful operational discipline.

These improvements demonstrate that the core business is becoming more efficient and more profitable on a per-naira basis with every passing year.

On the balance sheet, the transformation has been nothing short of extraordinary. Total equity has more than doubled to ₦11.78 billion, the company has moved from a net debt position to holding ₦2.16 billion in net cash, and book value per share has grown to ₦16.12. The ₦3.2 billion invested in property, plant and equipment in FY2025 — with a further ₦7.57 billion in the capital investment pipeline — positions the company for meaningful revenue growth as new capacity is commissioned through FY2026 and beyond.

Corporate Actions & Governance

Rights Issue (2025) — The Defining Transaction
In 2025, IMG executed a rights issue of 199,797,458 new shares at ₦32 per share .
The issue was 90.9% subscribed, raising approximately ₦5.8 billion net after expenses.
• Increased total equity by 99.2% from ₦5.91bn to ₦11.78bn
• Reduced borrowings by 97.5% from ₦5.33bn to ₦135.7m
• Eliminated annual finance costs of ~₦700m+
• Increased shares outstanding by 46.4%
• Positioned the company for debt-free growth financing.



Bonus Issue & Dividend History : SEE TABLE BELOW


INVESTMENT RECOMMENDATION — BUY
CURRENT MARKET PRICE: ₦36.00 (LONG TERM)

IMG is not merely an industrial company — it is a critical national infrastructure asset wearing the clothes of a mid-cap stock.

1: It provides the oxygen that keeps Nigerian patients alive.

2: the CO₂ that carbonates the drinks Nigerians consume daily.

3: the nitrogen that protects oil pipelines from combustion.

4: the argon that welds the steel structures of Nigeria's industrial economy.

This essential utility company, combined with a 65-year operational moat, zero debt, ₦7.6 billion in committed capital investment, and powerful government-driven healthcare tailwinds, makes IMG one of the most compelling risk-adjusted opportunities on the NGX today.


The (4) Four Pillars of Our BUY RECOMMENDATION

• PILLAR 1 — DEBT ELIMINATION: Finance costs that consumed ~₦700m annually have been permanently removed. FY2026 earnings will benefit directly.

• PILLAR 2 — CAPEX PAYOFF: ₦3.2bn invested in FY2025, with ₦7.57bn in WIP assets. As this capacity is commissioned in FY2026, it will drive revenue growth on a near-zero marginal cost basis.

• PILLAR 3 — HEALTHCARE MEGATREND: 13,500+ PHC upgrades mandated by the Tinubu administration create a decade-long demand pipeline for medical oxygen, MGPS installation, and gas supply that IMG is uniquely equipped to serve.


• PILLAR 4 — MONOPOLY MOAT: As the only NGX-listed industrial gas company with national production infrastructure, IMG has no domestic listed competitor.  — built over 65 years.

The Dynamics of Power and the "Godfather" Strategy in Nigeria :: The "Idiot-Maker" Strategy & The Weaponization of Illiteracy

The Successor’s Dilemma: Wike vs. Fubara  & Yaya Bello vs Ododo

The Educated Rebel  ::  The Rivers State crisis has offered Nigeria an unscripted masterclass in political succession. The alleged falling-out between Governor Siminalayi Fubara and FCT Minister Nyesom Wike — the man widely credited with installing him — raises a question that transcends both men: why do political godfathers lose control of some successors and not others?

A plausible answer lies in what a successor has to fall back on. Fubara, a trained accountant with a verified career in public finance, apparently calculated that he could survive without his godfather.

The Absolute Loyalists ::  When the EFCC moved to arrest former Governor Yahaya Bello over alleged money laundering of over ₦80 billion, the EFCC publicly stated that sitting Governor Usman Ododo arrived at Bello's residence in Abuja from Lokoja Kogi State a nearly 2 hours journey by road,  and allegedly ensured the former governor was whisked away in his official vehicle.


The 2026 Electoral Act and the Certificate Shield : The "Idiot-Maker" Strategy & The Weaponization of Illiteracy.

The "Mistake of Competence: Governor Nyesom Wike’s "failure" to control Siminalayi Fubara is allegedly a result of picking a successor with an actual career and intellectual standing. Fubara, an accountant and career civil servant, possessed the "mental tools" to realize he didn't need a master to breathe.

The Success of the Puppet: In contrast, the relationship between Yahaya Bello and Ahmed Usman Ododo is viewed by critics as the "perfect" model of modern Nigerian loyalty. Reports by The Punch (April 2024) and Channels TV

The New Political Law & Next President of Nigeria (under APC) : You can argue that the "lesson" learned is to never pick a successor who can read the fine print. By allegedly pushing to remove or weaken educational requirements in the Electoral Act (notably seen in the Electoral Act 2026 amendments which allegedly deleted "qualification" as a ground for election petitions), the ruling class is building a "shield of ignorance." They want leaders who know they are "nothing" without their benefactor—men who will drive from Lokoja to Abuja to fight the law because they have no future outside of their master’s shadow.

The Harvest of Rot: A Well-Deserved Reckoning : The "Genetic Engineering" of Political Failure.

​The transition from Tinubu to the "next in line" is allegedly being designed as a laboratory for breeding the perfect puppet.

1: Competence is a liability; illiteracy is an asset.

2: The "Music" They Started: For years, before Tinubu, the Nigerian political class chose to ignore the "rot" because it favored them. They cheated in elections, forged documents, and bypassed the law. Now, the law is so broken that even them are no longer safe from the chaos.

3 : The era of the "Educated Statesman" is dead. We have entered the era of the "Vassal State," where the primary job of a Governor or President is to protect the person who "sponsored" them. This isn't just bad governance; it is a deliberate punishment for a nation that allowed its leaders to destroy the value of a certificate and the sanctity of the ballot box.

4 : Before Tinubu, the political class, built a failed system and locked the it from the inside. They had every opportunity to create a system based on merit, like the "Asian Tigers," but they chose a system based on "settlement." Now, as the economy collapses and the "alleged" certificates of their peers become national jokes, they are forced to "dance to the tune." They started this music, wrote the lyrics, paid the producers,  and now must dance to a poorly constructed music..  they lack the intellectual capacity or opportunity to put it out or stop it.

The End of the Tunnel: There is No Light at the end of this tunnel.. just the miracles of gallows

​China is the most brutal reality check. The nation didn't just "develop"—they purged.

China: The Executioner’s Accountability

​China’s transformation since the 1980s was fueled by a brutal zero-tolerance policy for economic crimes.

• The Case of Sun Zhigang (October 2024): The former Party Chief of Guizhou was sentenced to death for taking bribes worth over $113 million.

• ​The Case of Bai Tianhui (2025): A high-ranking executive was sentenced to death for bribery. In 2025 alone, China disciplined nearly 1 million individuals, including 69 senior provincial and ministerial officials.

• ​The Logic: China understands that if you allow one "Tiger" (senior official) to be corrupt, the whole forest will rot. They kill the leader to save the country.

The "Tigers and Flies" Policy: Under this doctrine, no official is too high to be touched. By executing "Tigers" (senior leaders), the state sends a message that corruption is a capital offense against the people.

Nigeria: The "Safe Haven" for the 99.9%

Let's be honest about something every Nigerian already knows but is too tired to say out loud.
99.9% of the people currently governing this country have no business being there.

And then — with straight faces — we ask why nothing works.

What exactly were we expecting? You cannot staff a hospital with people who never went to medical school and then act surprised when the patients keep dying. Nigeria did not accidentally end up here. It was governed here, deliberately, by people who knew precisely what they were doing and did it anyway.

The tragedy is not that we don't know. The tragedy is that we know — completely, exhaustively, without any remaining doubt — and the same people are still there.

Drops pen.

DATE : 17 MARCH 2026

BUY RECOMMENDATION : INDUSTRIAL & MEDICAL GASES NIGERIA PLC.

Ticker: IMG  |  NGX Listed  |  Sector: Industrials / Healthcare.
CURRENT PRICE : ₦36.00 | Hold Period : LONG TERM.

Industrial & Medical Gases Nigeria Plc (IMG) is Nigeria's dominant industrial gas company and the only quoted industrial gas player on the NGX.

BUY RECOMMENDATION and a long-term hold from the current price of ₦36.00.




Business Model — B2B (Business To Business)

IMG operates exclusively as a Business-to-Business (B2B) entity — zero retail or consumer exposure. Every naira earned comes from institutional, commercial, or industrial clients, creating a revenue profile that is structurally predictable, and recurring.


Why the B2B Model Creates Durable Competitive Advantage

1: Long-term supply contracts: Hospitals, refineries, and breweries sign multi-year agreements — revenue is locked in.
2: Infrastructure dependency: When IMG installs a Medical Gas Pipeline System (MGPS) or bulk cryogenic tank, the customer is captive for the life of that infrastructure.
3: Switching costs: Replacing IMG requires physical infrastructure change, equipment revalidation, and regulatory re-approval.
4: Regulatory moat: ISO 9001:2015 and FSSC22000v.5.1 certifications create barriers that new entrants need years to obtain.

CUSTOMER BASE & SECTOR ANALYSIS : SEE IMAGE BELOW

IMG's customer base spans Nigeria's most critical industrial and institutional sectors. The diversity of its clientele, from multinational oil majors to federal teaching hospitals to multinational beverage companies, provides exceptional revenue stability and cross-cycle resilience.


SECTOR:

1 : Oil & Gas : N₂ inerting, welding gases, specialty gases
2 : Food & Beverage (FMCG) : CO₂ carbonation, N₂ packaging
3 : Healthcare : Medical O₂, MGPS installation
4 : Manufacturing & Cement : Welding gases, O₂ for kilns
5 : Power & Energy : H₂, N₂ for turbine cooling/insulation
6 : Engineering Services : MGPS, customer engineering


COMPETITIVE LANDSCAPE

NGX-Listed Peers : IMG occupies a singular competitive position on the NGX. There are no directly comparable listed industrial gas companies in Nigeria.


PRODUCTS & SERVICES :

PRODUCTS : SEE IMAGE TABLE BELOW



Services : Engineering & Value-Added Services

• Medical Gas Pipeline Systems (MGPS): Design, installation, and commissioning of piped medical gas infrastructure — high-margin, sticky service with enormous growth potential given Nigeria's PHC upgrade mandate.

• Customer Engineering Services: Bespoke gas application optimisation — cited by Dangote Group's Director of Manufacturing as delivering significant production efficiency gains.

• Safety & Risk Management (SHEQ): Gas hazard assessments and risk frameworks — confirmed by Nigerian Breweries' Head of Safety as mission-critical.

• After-Sales Support & Installation: Ongoing maintenance of cylinders, cryogenic vessels, pipeline systems, and bulk tank installations.

Government Catalyst — February 2026

₦98bn Disbursed to Nigeria's PHCs :: President Tinubu confirmed over ₦98 billion disbursed to support operational expenses for over 8,300 Primary Healthcare Centres in 2025, with plans to expand to 13,500 PHCs nationwide. A further 2,565 centres have already been upgraded, with 1,456 currently undergoing renovation.

Why This Directly Benefits IMG

1 : Every upgraded or new PHC requires medical oxygen cylinders and ongoing supply.
2 : Fully equipped PHCs need Medical Gas Pipeline Systems (MGPS) — IMG's highest-margin service.
3 : 13,500 PHC target = thousands of new long-term institutional customers.
4 : ₦2.56 trillion healthcare budget allocation in 2025 signals a decade-long demand pipeline.
5 : IMG holds dominant market share in MGPS installation — no credible domestic competitor

Financial Performance & Analysis : (SEE IMAGE BELOW)

IMG's FY2025 financials tell a story of structural improvement at the operating level. Revenue was ₦8.38 billion while gross profit grew to ₦4.08 billion, a gross margin of 48.7%, up 220 basis points from 46.5% in FY2024.

• Cost of sales was reduced by 4.1% and selling and distribution expenses were cut by 19.6%, reflecting meaningful operational discipline.

These improvements demonstrate that the core business is becoming more efficient and more profitable on a per-naira basis with every passing year.

On the balance sheet, the transformation has been nothing short of extraordinary. Total equity has more than doubled to ₦11.78 billion, the company has moved from a net debt position to holding ₦2.16 billion in net cash, and book value per share has grown to ₦16.12. The ₦3.2 billion invested in property, plant and equipment in FY2025 — with a further ₦7.57 billion in the capital investment pipeline — positions the company for meaningful revenue growth as new capacity is commissioned through FY2026 and beyond.

Corporate Actions & Governance

Rights Issue (2025) — The Defining Transaction
In 2025, IMG executed a rights issue of 199,797,458 new shares at ₦32 per share .
The issue was 90.9% subscribed, raising approximately ₦5.8 billion net after expenses.
• Increased total equity by 99.2% from ₦5.91bn to ₦11.78bn
• Reduced borrowings by 97.5% from ₦5.33bn to ₦135.7m
• Eliminated annual finance costs of ~₦700m+
• Increased shares outstanding by 46.4%
• Positioned the company for debt-free growth financing.



Bonus Issue & Dividend History : SEE TABLE BELOW


INVESTMENT RECOMMENDATION — BUY
CURRENT MARKET PRICE: ₦36.00 (LONG TERM)

IMG is not merely an industrial company — it is a critical national infrastructure asset wearing the clothes of a mid-cap stock.

1: It provides the oxygen that keeps Nigerian patients alive.

2: the CO₂ that carbonates the drinks Nigerians consume daily.

3: the nitrogen that protects oil pipelines from combustion.

4: the argon that welds the steel structures of Nigeria's industrial economy.

This essential utility company, combined with a 65-year operational moat, zero debt, ₦7.6 billion in committed capital investment, and powerful government-driven healthcare tailwinds, makes IMG one of the most compelling risk-adjusted opportunities on the NGX today.


The (4) Four Pillars of Our BUY RECOMMENDATION

• PILLAR 1 — DEBT ELIMINATION: Finance costs that consumed ~₦700m annually have been permanently removed. FY2026 earnings will benefit directly.

• PILLAR 2 — CAPEX PAYOFF: ₦3.2bn invested in FY2025, with ₦7.57bn in WIP assets. As this capacity is commissioned in FY2026, it will drive revenue growth on a near-zero marginal cost basis.

• PILLAR 3 — HEALTHCARE MEGATREND: 13,500+ PHC upgrades mandated by the Tinubu administration create a decade-long demand pipeline for medical oxygen, MGPS installation, and gas supply that IMG is uniquely equipped to serve.


• PILLAR 4 — MONOPOLY MOAT: As the only NGX-listed industrial gas company with national production infrastructure, IMG has no domestic listed competitor.  — built over 65 years.

Thank you for the insight.

You are right that (PHCs) Primary Healthcare Centres are primarily a cylinder supply and replenishment opportunity for IMG rather than full pipeline installations.

With 13,500 facilities nationwide, even modest recurring cylinder contracts represent significant volume at scale.

The higher-value Medical Gas Pipeline System (MGPS) installation opportunity however extends well beyond teaching hospitals.

Nigeria's fast-growing private healthcare sector, including Reddington Hospital, St. Nicholas Hospital, Eko Hospital, Lagoon Hospital, Evercare Hospital, Medbury Medical Services, Doyen Mediclinic, and Alliance Hospital.

Alongside hundreds of mid-sized private clinics and diagnostic centres nationwide, all require medical oxygen supply and gas infrastructure.

This private sector pipeline is substantial and growing.

The third pillar therefore operates on three levels —

1 : (PHC) Primary Healthcare Centres cylinder volume.

2 : Teaching hospital MGPS installation,

3 : The expanding private healthcare sector.

all of which IMG is uniquely positioned to serve nationwide.

Panadee:
Thank you for your detailed analysis.
This third pillar won’t make any significant difference because primary health centres (PHCs) are not designed to have hi-tech oxygen delivery systems; they could buy a few cylinders and that’s about it. It’s mainly teaching hospitals and big secondary health centres that may need such oxygen delivery systems. And not many new ones (of such hospitals) are coming on stream anytime soon.
Other pillars duly noted. Cheers.

give am small time e go turn green very soon.... SohSoh Says So

newreality:
I checked the stock price history, it has been in red for a while

IMG's liquidity position is strong and purposefully structured. The company holds ₦2.16 billion in net cash with current assets of ₦4.99 billion comfortably covering current liabilities of ₦2.54 billion — a current ratio of approximately 1.96x. For an industrial company of this scale, that is a robust buffer.

Equally important, IMG is virtually debt-free. Following the 2025 rights issue, borrowings stand at just ₦135.7 million, meaning there are no meaningful debt obligations weighing on the business. Every naira generated from operations is free to be reinvested or returned to shareholders (dividends)

The reduction in cash from the prior year reflects exactly what good capital allocation looks like — ₦3.2 billion deliberately converted from cash into productive fixed assets, with a further ₦7.57 billion in the capital investment pipeline. This is not cash leaving the business; it is cash being transformed into long-lived infrastructure that will generate revenue and earnings for years to come.

In short, IMG carries no debt burden, holds strong short-term coverage, and has proactively deployed its capital into growth assets. The balance sheet is not just liquid, it is positioned for expansion and growth.

InvestorHalal:
Thank you for the detailed analysis.

Please, what do you say about its current liquidity form?

DATE : 15 MARCH 2026

BUY RECOMMENDATION : INDUSTRIAL & MEDICAL GASES NIGERIA PLC.

Ticker: IMG  |  NGX Listed  |  Sector: Industrials / Healthcare.
CURRENT PRICE : ₦36.00 | Hold Period : LONG TERM.

Industrial & Medical Gases Nigeria Plc (IMG) is Nigeria's dominant industrial gas company and the only quoted industrial gas player on the NGX.

BUY RECOMMENDATION and a long-term hold from the current price of ₦36.00.




Business Model — B2B (Business To Business)

IMG operates exclusively as a Business-to-Business (B2B) entity — zero retail or consumer exposure. Every naira earned comes from institutional, commercial, or industrial clients, creating a revenue profile that is structurally predictable, and recurring.


Why the B2B Model Creates Durable Competitive Advantage

1: Long-term supply contracts: Hospitals, refineries, and breweries sign multi-year agreements — revenue is locked in.
2: Infrastructure dependency: When IMG installs a Medical Gas Pipeline System (MGPS) or bulk cryogenic tank, the customer is captive for the life of that infrastructure.
3: Switching costs: Replacing IMG requires physical infrastructure change, equipment revalidation, and regulatory re-approval.
4: Regulatory moat: ISO 9001:2015 and FSSC22000v.5.1 certifications create barriers that new entrants need years to obtain.

CUSTOMER BASE & SECTOR ANALYSIS : SEE IMAGE BELOW

IMG's customer base spans Nigeria's most critical industrial and institutional sectors. The diversity of its clientele, from multinational oil majors to federal teaching hospitals to multinational beverage companies, provides exceptional revenue stability and cross-cycle resilience.


SECTOR:

1 : Oil & Gas : N₂ inerting, welding gases, specialty gases
2 : Food & Beverage (FMCG) : CO₂ carbonation, N₂ packaging
3 : Healthcare : Medical O₂, MGPS installation
4 : Manufacturing & Cement : Welding gases, O₂ for kilns
5 : Power & Energy : H₂, N₂ for turbine cooling/insulation
6 : Engineering Services : MGPS, customer engineering


COMPETITIVE LANDSCAPE

NGX-Listed Peers : IMG occupies a singular competitive position on the NGX. There are no directly comparable listed industrial gas companies in Nigeria.


PRODUCTS & SERVICES :

PRODUCTS : SEE IMAGE TABLE BELOW



Services : Engineering & Value-Added Services

• Medical Gas Pipeline Systems (MGPS): Design, installation, and commissioning of piped medical gas infrastructure — high-margin, sticky service with enormous growth potential given Nigeria's PHC upgrade mandate.

• Customer Engineering Services: Bespoke gas application optimisation — cited by Dangote Group's Director of Manufacturing as delivering significant production efficiency gains.

• Safety & Risk Management (SHEQ): Gas hazard assessments and risk frameworks — confirmed by Nigerian Breweries' Head of Safety as mission-critical.

• After-Sales Support & Installation: Ongoing maintenance of cylinders, cryogenic vessels, pipeline systems, and bulk tank installations.

Government Catalyst — February 2026

₦98bn Disbursed to Nigeria's PHCs :: President Tinubu confirmed over ₦98 billion disbursed to support operational expenses for over 8,300 Primary Healthcare Centres in 2025, with plans to expand to 13,500 PHCs nationwide. A further 2,565 centres have already been upgraded, with 1,456 currently undergoing renovation.

Why This Directly Benefits IMG

1 : Every upgraded or new PHC requires medical oxygen cylinders and ongoing supply.
2 : Fully equipped PHCs need Medical Gas Pipeline Systems (MGPS) — IMG's highest-margin service.
3 : 13,500 PHC target = thousands of new long-term institutional customers.
4 : ₦2.56 trillion healthcare budget allocation in 2025 signals a decade-long demand pipeline.
5 : IMG holds dominant market share in MGPS installation — no credible domestic competitor

Financial Performance & Analysis : (SEE IMAGE BELOW)

IMG's FY2025 financials tell a story of structural improvement at the operating level. Revenue was ₦8.38 billion while gross profit grew to ₦4.08 billion, a gross margin of 48.7%, up 220 basis points from 46.5% in FY2024.

• Cost of sales was reduced by 4.1% and selling and distribution expenses were cut by 19.6%, reflecting meaningful operational discipline.

These improvements demonstrate that the core business is becoming more efficient and more profitable on a per-naira basis with every passing year.

On the balance sheet, the transformation has been nothing short of extraordinary. Total equity has more than doubled to ₦11.78 billion, the company has moved from a net debt position to holding ₦2.16 billion in net cash, and book value per share has grown to ₦16.12. The ₦3.2 billion invested in property, plant and equipment in FY2025 — with a further ₦7.57 billion in the capital investment pipeline — positions the company for meaningful revenue growth as new capacity is commissioned through FY2026 and beyond.

Corporate Actions & Governance

Rights Issue (2025) — The Defining Transaction
In 2025, IMG executed a rights issue of 199,797,458 new shares at ₦32 per share .
The issue was 90.9% subscribed, raising approximately ₦5.8 billion net after expenses.
• Increased total equity by 99.2% from ₦5.91bn to ₦11.78bn
• Reduced borrowings by 97.5% from ₦5.33bn to ₦135.7m
• Eliminated annual finance costs of ~₦700m+
• Increased shares outstanding by 46.4%
• Positioned the company for debt-free growth financing.



Bonus Issue & Dividend History : SEE TABLE BELOW


INVESTMENT RECOMMENDATION — BUY
CURRENT MARKET PRICE: ₦36.00 (LONG TERM)

IMG is not merely an industrial company — it is a critical national infrastructure asset wearing the clothes of a mid-cap stock.

1: It provides the oxygen that keeps Nigerian patients alive.

2: the CO₂ that carbonates the drinks Nigerians consume daily.

3: the nitrogen that protects oil pipelines from combustion.

4: the argon that welds the steel structures of Nigeria's industrial economy.

This essential utility company, combined with a 65-year operational moat, zero debt, ₦7.6 billion in committed capital investment, and powerful government-driven healthcare tailwinds, makes IMG one of the most compelling risk-adjusted opportunities on the NGX today.


The (4) Four Pillars of Our BUY RECOMMENDATION

• PILLAR 1 — DEBT ELIMINATION: Finance costs that consumed ~₦700m annually have been permanently removed. FY2026 earnings will benefit directly.

• PILLAR 2 — CAPEX PAYOFF: ₦3.2bn invested in FY2025, with ₦7.57bn in WIP assets. As this capacity is commissioned in FY2026, it will drive revenue growth on a near-zero marginal cost basis.

• PILLAR 3 — HEALTHCARE MEGATREND: 13,500+ PHC upgrades mandated by the Tinubu administration create a decade-long demand pipeline for medical oxygen, MGPS installation, and gas supply that IMG is uniquely equipped to serve.


• PILLAR 4 — MONOPOLY MOAT: As the only NGX-listed industrial gas company with national production infrastructure, IMG has no domestic listed competitor.  — built over 65 years.

Read my previous post where i replied Zendi.....

jckgroup1:
Provide update on your Japaul recommendation before IMG...

ABCD EFGH IJK LMNOP QRSTUVWXY Z

A New Buy Recommendation :
Company : IMG [ Industrial & Medical Gases ]

Details Coming Soon

Stop sharing unverified or untrue information or stop making them up....

Redoil:
ellah lake have gotten serious investors hence they decide to return the money back to IPO People. now who is fooling who

Share a news link to this story...... cos according to the news going round... it is because they didn't meet the required minimum threshold....SO pls share a link to this .... your information

Redoil:
ellah lake have gotten serious investors hence they decide to return the money back to IPO People. now who is fooling who