₦airaland Forum

Coldie:
After I moved abroad, I began to value how wonderful Nigeria is.

Nigeria is one of the best countries in the world if u no know u no go understand

No, na if you never go, you no go understand.

A lot of people won't understand.

olaboy1:
Cars and spare parts importers are not the cause of Nigeria’s dwindling economy and as you may know more than half of our forex is in the hands of hoarders and speculators despite the government injection of foreign exchange to create more liquidity to the retail end.
Manufacturers, foreign investors and SME’s have more forex demand than the spare parts sector, and also most of these spare parts are exported by Nigerians in diaspora who have zero demand for any forex. I know of many people who ship containers of cars and spare parts to Nigeria and divert the earnings in naira into real estate.
It’s better for the government to target sectors that can stimulate the economy TODAY in the face of this global pandemic than invest in automobile manufacturing, as there are many developing countries with zero automobile manufacturing. I saw more than 50% of clean Toyota minibus/van with AC being used as means of transportation during my short visit in Manila Philippines even though they still have their locally made Jeepney aka keke marwa.
So my question to you is “ should the government continue with its high duty and levies and let Nigerians continue to ride in old jallopy buses thereby risking their lives due to brake failure as a result of high cost to replace a brake caliper”?

Remember a healthy people is a healthy nation and health is wealth.

You know, you see, you this and that. It is hard to engage someone that based analysis of over 200 million population on personal experiences.

I take a bow!.

olaboy1:
I hope you are aware that many Nigerians ship in spare parts in cars, vans, buses and mini trucks. Lower levies will translate to lower cost of spare parts of essential economical stimulants vehicles and equipment. The farmers and logistic companies will not experience too much of downtime due to lack of funds for spare parts. The environmental impact of this policy also should be applauded, because Nigerians can now buy used cars around 5yrs old with very low emission/pollution as against the jallopies with no catalytic converters that they buy now.
Asthma, lung cancer and eye infections will reduce drastically thereby increasing the life expectancy of Nigerians.

You are looking at it in isolation and that is one of the issues with the Nigerian economy and policymakers. The economy will experience a downturn as a whole because the healthiness of the Nigerian economy is directly proportional to its foreign revenue which is presently at a record low due to weak oil prices and low output forced by OPEC plus accord.

Regardless of how they ship those spare parts, they used forex to buy them. It is going to affect the Central Bank's ability to intervene as usual at the nation's foreign exchange markets to support the Naira value. The affordable food item is an illusion as whatever advantages they created will be nullified by rising pumping prices and high cost of maintenance.

All you've mentioned contributed little to the real GDP, therefore, it wouldn't have the same effect like the dwindling foreign reserves that has always been our problem. You will not diversify the economy by encouraging foreign patronage and exporting our jobs. It is a counterproductive policy with poor thought.

How can a minister of finance attributed high inflation, especially the high cost of food items, to just logistics? What about herdsmen, poor weather, flooding? Are you saying with an effective transport system 14.23 percent inflation will disappear?

Rugaria:
That will bring more revenue to Nigerias government because it will kill the car importation business through cotonou. But at the same time, it may mark the end of our growing automobile industry. The likes of innoson should worry. Government has chosen more money over greater technology transfers here. Obviously, the government is really cash strapped. Benin republic rakes in billions from Nigerians through the many cars going towards Nigeria that are cleared at her ports every year. It may also improve the quality and models of cars driven in Nigeria. You will be surprised that in relative terms, folks in cotonou drive more recent models of cars than Nigerians. Nigerians have to drive older models because importers pay lesser duties on those, thereby standing a better chance of making more profits... Problem is that the accrued revenue will ultimately disappear into private hands or end up being used to biuld up Niger republic..

How is it going to bring more revenue when forex demand would hit the roof and further drag down dwindling foreign reserves?

What about the assembling plants? Don't they pay taxes? You will lose that, new job creation and even plunge Naira value with persistent scarcity due to potential high demand for the US dollar.

Made in Nigeria, patronise locally made goods goes out if the window.

However, these were not the reason the whole policy was adjusted. It was to reduce cost of transportation of farm produce and ease food item prices, the whole policy is a joke.

Purchase is one off, what about maintenance and sustainability? What about rising fuel price and costs (spare parts and services)?.

This is another poor policy!.

Stock Investors Gain N174 Billion on Friday Following Rate Cut

Stock Market Sustained Bullish Trend as Investors Jumped on Undervalued Stocks to Take Advantage of Rate Cut

The Nigerian Stock Exchange (NSE) sustained bullish trend on Friday following the Central Bank of Nigeria led-monetary committee decision to lower the interest rate by 100 basis points to 11.5 percent.

The bourse closed in the green to extend Thursday's gain by 1.28 percent.

The market capitalisation of listed equities rose by N174 billion from N13.581 trillion recorded on Thursday to N13.755 trillion on Friday.

https://investorsking.com/stock-investors-gain-n174-billion-on-friday-following-rate-cut/

Insider Dealings: Tony Elumelu and Family Move to Completely Takeover UBA

In eight different filings with the Nigerian Stock Exchange (NSE), the Board Chairman, UBA, Tony Elumelu and relatives increased stake in United Bank for Africa (UBA) in a move that suggested confidence in the lender’s future and an opportunity to increase Elumelu family’s stake in one of Africa’s largest banks.

In one of the filings, Awele Elumelu, one of the relatives purchased 156,097 shares at N5.9999 per share on Tuesday, September 22, 2020 in Lagos.

https://investorsking.com/insider-dealings-tony-elumelu-and-family-move-to-completely-takeover-uba/

Stanbic IBTC Holdings Declare 40k Per Ordinary Share of 50 Kobo Each

Stanbic IBTC has announced it will pay a total sum of N4,201,986,943.20 as a dividend for the quarter ended June 30, 2020.

The bank, which posted a profit after tax of N45.2 billion in the second quarter of 2020, declared an interim dividend of 40 kobo per ordinary share of 50 kobo each.

In the statement released through the Nigerian Stock Exchange (NSE), the lender said only shareholders whose names appear in the Register of Members as at the close of business on Tuesday 15, September 2020 will be paid.

https://investorsking.com/stanbic-ibtc-holdings-to-pay-n4-2-billion-in-dividend/

Coro19:
it's a good development...not everyday we keep on hearing we are running on losses. with these cbn can easily monitor the revenue of the discos

Exactly. This, will allow the CBN and FG have access to real data and address whatever challenges crippling payment and remittance in the power sector.

Dangote Sugar, Flour mills, UBA, UPL Boost Stock Exchange Slightly on Tuesday

Stock Exchange Gained N2 Billion on Tuesday
The Nigerian Stock Exchange (NSE) gained slightly on Tuesday following a sustained interest in Dangote Sugar and others.

The market capitalisation of listed equities rose by N2 billion to N13.113 trillion, up from N13.111 trillion it closed on Monday.

https://investorsking.com/dangote-sugar-flour-mills-uba-upl-boost-stock-exchange-slightly-on-tuesday/

Insider Dealings: DVCF Oil Sells 997,012 Shares in The Initiates

The Initiates Plc on Tuesday announced that DVCF Oil and Gas Plc, a substantial shareholder, sold 997,012 ordinary shares of The Initiates between August 10 and 12, 2020.

A break down of the transactions showed DVCF Oil and Gas sold 103 units at N0.70 per share on August 10, 2020 at the Nigerian Stock Exchange.

https://investorsking.com/insider-dealings-dvcf-oil-sells-997012-shares-in-the-initiates/

Makanjuola, a Non-Executive Director, Purchased 47,493 Shares in Vitafoam

The management of Vitafoam Nigeria Plc on Tuesday disclosed that Dr. B.O. Makanjuola, a non-executive director of the company, purchased 47,493 shares in Vitafoam Nigeria Plc.

In a statement signed by Olalekan Sanni, Company Secretary and Legal Adviser, Vitafoam Nigeria Plc, the company disclosed that Dr. Makanjuola bought the shares between August 12 and 17, 2020 on the Nigerian Stock Exchange in Lagos, Nigeria.

https://investorsking.com/insider-dealings-makanjuola-buys-47493-shares-in-vitafoam/

Insider Dealings: Abubakar Suleiman Buys 750,000 Sterling Bank Shares, Total Now 19,207,500 in Two Months

In line with the Nigerian Stock Exchange disclosure policy, Sterling Bank Plc has disclosed that Mr. Abubakar Suleiman, the Managing Director, Sterling Bank Plc, purchased another 750,000 shares of Sterling Bank.

This is in addition to the 18,457,500 million shares of Sterling Bank acquired by Mr. Suleiman on July 16, 2020 at N1.24 a unit. Bringing his total purchase in the last two months to 19,207,500.

https://investorsking.com/insider-dealings-abubakar-suleiman-buys-750000-sterling-bank-shares/

Inflation Rises With Unemployment Rate to 12.82%

Prices of goods and services in Nigeria rose further in the month of July, according to the latest report from the National Bureau of Statistics (NBS).

The Consumer Price Index, which measures inflation in an economy, increased by 12.82 percent year-on-year in July. This was 0.26 percent more than the 12.56 percent recorded for the month of June and represents the highest rate of increase since April 2018.

On a monthly basis, inflation rose by 1.25 percent in July, representing an increase of 0.04 percent from 1.21 percent achieved in June.

https://investorsking.com/inflation-rises-with-unemployment-rate-to-12-82/

Investors Hold Back on Jumia Shares as GMV Drops by 13% in Q2 2020

Despite some noticeable improvements in Jumia’s second-quarter financial results, investors that jumped on the company’s stock prior to its financial statements release pulled back as the Gross Merchandise Value (GMV) declined by 13 percent even with COVID-19 lockdown.

In the financial statement released by Jumia last week, the company’s operating loss reduce for the first time in six quarters. While revenue declined by 10 percent when compared with the second quarter of 2019 to €34.9 million, better than the 18.7 percent predicted by experts.

Accordingly, the company’s operating losses declined by 44 percent year-on-year to €37.6 million. This is largely due to the company’s new strategy of cutting down costs both in the advertisement and other aspects of the organisation to the lowest levels since 2017.

Also, profit on fulfillment expense rose to €6 million during the quarter, up from €0.7 million decline posted in the same quarter of 2019 and indicated that Jumia is no longer making losses on fulfilling orders.

Jumia GMV declined by 13 percent year-on-year to €228 million in the quarter under review, one of the main reasons investors held back on the stock.

GMV measures the value of goods sold on the platform at a specified period.

https://investorsking.com/investors-hold-back-on-jumia-shares-as-gmv-drops-by-13-in-q2-2020/

OBAGADAFFI:
wow

Hope you are liking the publications.

Unilever Overseas Holdings Purchased 17m Shares in Unilever Nigeria

Unilever Nigeria Plc on Wednesday disclosed that Unilever Overseas Holdings B.V, a substantial shareholder, bought total shares of 17,023,490 in Unilever Nigeria Plc.

This, the company disclosed in its latest statement released through the Nigerian Stock Exchange.

https://investorsking.com/unilever-overseas-holdings-purchased-17m-shares-in-unilever-nigeria/

Insider Dealing: Blakeney Sells 80m UAC Shares, Reduces Stake

UAC of Nigeria Plc has disclosed that one of its substantial shareholders, Blakeney LLP, has sold part of its shares in the company.

In a statement signed by Godwin A. Samuel, Company Secretary and Legal Adviser, UACN, Blakeney LLP sold 80,000,000 shares of UAC Nigeria on August 5th, 2020.

According to the company, Blakeney sells a unit share at N5.75 at the Nigerian Stock Exchange trading floor in Lagos.

https://investorsking.com/insider-dealing-blakeney-sells-80m-uac-shares-reduces-stake/

Nigerian Stock Exchange Closes the Week Strong, Gains N181 Billion

The Nigerian Stock Exchange gained for five consecutive days this week to close the week strong. This is coming amid mixed second-quarter earnings reports from various listed companies.

The Exchange gained N181 billion or 1.41 percent from N12.882 trillion it closed last week before the Sallah holiday to N13.063 trillion this week. While the market capitalisation of listed stocks expanded by 1.41 percent or 348.16 basis points from 24,693.7 bps it closed last week to 25,041.89 bps this week.

https://investorsking.com/nigerian-stock-exchange-closes-the-week-strong-gains-n181-billion/

Jumia Stock Jumps More than 300% in Three Months

Jumia stock has risen more than 300 percent in the last three months despite the COVID-19 pandemic and a general decline in household income in Nigeria, Africa’s largest economy.

Shares of Nigeria’s first e-commerce company rose from $4 per share on 18th of May, 2020 to $8.95 on July 21, 2020 before more than double that number this week to $16.28 per share after hitting $21 per share on Monday. The Jumia stock has risen by 307 percent since May 18th 2020.

https://investorsking.com/jumia-stock-jumps-more-than-400-in-three-months/

Tvegas:
The volume of Mouth on UACN matter in this thread won't allow it to rise even if it wants to rise. I have never seen a more polarising stock. UACN is the Donald Trump of NSEMPA.

Once the new deal is priced in, it won't rise.

OBAGADAFFI:
FLOUR MILLS NIG shakara full-bid ended

Not easy to do 184% increase in PAT.

Custodian Investment to Purchase 51% Stake in UACN Property Company

The management of UAC of Nigeria Plc on Monday announced that they have entered into a binding agreement with Custodian Investment Plc for Custodian to acquire a 51 percent equity interest in UACN Property Development Company Plc (UPDC) from UAC.

In the statement released by the UAC of Nigeria on the Nigerian Stock Exchange, the company said Custodian will acquire 9,465,584,668 UPDC ordinary shares held by UAC, representing 51 percent of UPDC’s issued share capital.

The company further stated that the sale of shares will be done in two tranches.

https://investorsking.com/custodian-investment-to-purchase-51-stake-in-uacn-property-company/

Insider Dealing: Zenith Bank’s non-Executive Director Purchases 578,574 Zenith Shares

Zenith Bank Plc on Monday disclosed that a non-Executive Director, Prof. Oyewusi Ibidapo-Obe, purchased 578,574 shares of Zenith Bank Plc.

In a statement released on the Nigerian Stock Exchange and signed by Michael Osilama Otu, Company Secretary/General Counsel, Zenith Bank, the lender said the transaction took place on May 15th 2020 at the Nigerian Stock Exchange in Lagos.

https://investorsking.com/insider-dealing-zenith-banks-non-executive-director-purchases-578574-zenith-shares/

Insider Dealing: Tony Elumelu Adds 2.199 Million UBA Shares to His Holdings

Tony O. Elumelu, the Chairman of the United Bank for Africa and Heirs Holding Limited, purchased additional 2,199,373 shares of United Bank for Africa Plc.

In a statement signed by Bili A. Odum, Company Secretary, UBA and released on the Nigerian Stock Exchange, the bank stated that Mr. Tony O. Elumelu bought the shares on Wednesday, July 22, 2020 from the Nigerian Stock Exchange in Lagos at an average price of N6.15 per share.

https://investorsking.com/insider-dealing-tony-elumelu-adds-2-199-million-uba-shares-to-his-holdings/

RabbiDoracle:
The document available on NSE website showed that the Chairman of Caverton sold 39m units and not purchased that you wrote.

Thanks bro

Insider Dealings: Caverton Executive Sells 39 Million Shares

Caverton Offshore Support Group has disclosed that an inside sold substantial stake following the disclosures of two other purchases by executives on the 15th of June.

In a statement released on the Nigerian Stock Exchange, the company said Aderemi Makanjuola, the company’s chairman, sold 39,000,000 ordinary shares between June 9 – 15.

In a move that suggested the deal was carefully done not to raise eyebrows, Makanjuola carried out the transaction in nineteen different deals at an average price of N2.20 per share.

https://investorsking.com/insider-dealings-another-caverton-executive-buys-39-million-shares/

Inflation rate rises to 12.56 percent in June

The inflation rate rose to a record high in Nigeria, Africa's largest economy, in the month of June, according to the National Bureau of Statistics (NBS).

In the NBS report released on Friday, the Consumer Price Index (CPI), which measures the inflation rate in an economy, rose by 12.56 percent year-on-year in the month of June, representing an increase of 0.16 percent when compared to the 12.40 percent recorded in May.

https://investorsking.com/nigerias-inflation-rate-rises-to-12-56-percent-in-june-nbs/

Airtel Africa to Announce Q1 2020 Financial Results on July 24th

Airtel Africa Plc, Africa’s leading telecommunications and mobile money services company, on Thursday said it would release its financial statements for the period ended 30, June 2020 on the 24th of July 2020.

The telecom giant said the management would host a conference call on the day of release to respond to questions from analysts and investors at 9:30 am BST.

https://investorsking.com/airtel-africa-to-announce-q1-2020-financial-results-on-july-24th/

Insider Dealings: FCMB, AIICO, Others Disclose Shares Dealing by Insiders

In line with our commitment to consistently update Nigerian stock investors on insider dealings, here are the latest insider dealings in the Nigerian Stock Exchange.

The FCMB Group Plc disclosed that Mr. Olusegun Adedeji Odubogun, a non – executive director, purchased 200,000 ordinary shares of the company on June 2, 2020, in Lagos, Nigeria.

A breakdown of the transaction revealed that Mr. Odubogun bought 60,000 units at N1.78 per share while the remaining 140,000 units were acquired at N1.79 per share.

https://investorsking.com/insider-dealings-fcmb-aiico-axa-mansard-disclose-shares-dealing-by-insiders/

Axxela Funding Listed N11.5 Billion Bonds on Stock Exchange

Axxela Funding 1 Plc listed N11,500,000,000 Series 1 bonds at a 14.30 percent fixed rate on the Nigerian Stock Exchange on Thursday.

The bonds expected to mature in 2027 were issued under the N50,000,000,000 Bond Issuance Program today.

https://investorsking.com/axxela-funding-lists-n11-5bn-bonds-on-the-nigerian-stock-exchange/

debeey87:
That will be in addition to the over 130m units they currently have.

Yes, they bought 20.5 million in June as well.

United Alliance Buys Another 6,115 Shares in Wapic

Bringing United Alliance total purchase of Wapic Insurance shares to 30,561,360 in the month of July.


https://investorsking.com/united-alliance-buys-another-6115-shares-in-wapic/

Conoil, Dangote Sugar, Vitafoam Drag Stock Market Slightly Down

The Nigerian Stock Exchange (NSE) closed slightly in the red on Thursday as Conoil, Vitafoam and Dangote Sugar dragged down the nation’s bourse.

The market capitalisation of listed equities depreciated by N1 billion from N12.665 trillion on Wednesday to close at N12.664 trillion on Thursday.

However, the NSE All-Share Index declined by 0.01 percent from 24,278.07 basis points recorded on Wednesday to settle at 24,276.56 bps.

read more here https://investorsking.com/conoil-dangote-sugar-vitafoam-drag-stock-market-slightly-down/

BullBearMkt:
...absolutely great info!!! Tx

You are welcome. Read the complete article...

Also, follow the insider dealings tab. I will be tracking and detailing it daily....

Here is Why You Should Monitor Insider Dealings as a Nigerian Stock Trader

Since the Nigerian Stock Exchange (NSE) mandated listed companies to disclose insider dealings, a lot has changed as traders and stakeholders now have an idea of who is buying what, at what price level and quantity being bought.

For instance, in the last one month, Herbert Wigwe, the Chief Executive Officer and Managing Director, Access Bank, has been buying the company’s stock in large quantity and acquired a total of 7.532 million in the last on Month.

Click here to read more https://investorsking.com/why-you-should-monitor-insider-dealings-as-a-nigerian-stock-trader/