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73% of Nigerians Would Put Spare Cash into Savings—Report

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Retirement Savings Account

By Dipo Olowookere

A new report released by Nielsen Africa, which measures Consumer Confidence Index (CCI) in some countries on the continent, said things were not to rosy for Nigeria in the second quarter of 2019 because the country’s index slightly increased by one point to 127 unlike its West African neighbor, Ghana, which gained 10 points to settle at 118.

The 127 points reached by Nigeria, according to a summary of the report made available to Business Post, remains the highest confidence level for the country since the first quarter of 2016.

“Following a turbulent period in its history, Nigeria’s economic recovery is gaining momentum with GDP expected to grow slightly to 2.5 percent year on year, off the back of moderate improvements in net exports and domestic demand. Nigerians are optimistic about their future and this is reflected in the confidence scores,” Nielsen MD for Nigeria, Mr Ged Nooy, commented.

Looking at the consumer picture, Nigerians immediate-spending intentions have shown a healthy increase; with 54 percent of consumers versus 46 percent in the previous quarter saying now is a good or excellent time to purchase what they want or need.

However, their perception around job prospects have slightly declined, with 60 percent viewing them as excellent or good, a nine-point drop from the previous quarter.

It was stated that sentiment around the state of personal finances has shown a slight improvement with 82 percent Nigerians agreeing their state of personal finances will be excellent or good over the next year, a one-point increase from the previous quarter.

Looking at whether Nigerians have spare cash to spend, 51 percent said yes, versus 55 percent in the previous quarter.

In terms of their spending priorities, once they meet their essential living expenses, 76 percent would invest in home improvements/ decorating, 73 percent would put their spare cash into savings and 66 percent say they will invest in shares/mutual funds.

Surprisingly, in light of their propensity towards savings and investment, the lowest number 39 percent said they would put their spare cash into retirement funds.

Looking at the top concerns for Nigerians over the next six months, work/life balance tops the list with 27 percent (a six-point increase compared to the previous quarter) and has displaced political stability as the number one concern for Nigerians.

This is followed by increasing food prices at 22 percent (a one-point increase compared to Q1’19) and the economy at 20 percent (a four-point increase compared to the previous quarter)

Elaborating on these results, Mr Nooy said, “Nigerian consumers are positive and open to spending, however, the country’s retail environment continues to feel the effects of steep inflation. Manufacturers and retailers will therefore need to tackle this challenge head on, to harness the true value of Nigeria’s powerful consumer base.”

On the part of Ghana, its CCI for the second quarter of 2019 showed an extremely healthy increase of 10 points to 118.

Looking at Ghana’s overall performance, Nielsen Market Lead for West Africa, Yannick Nkembe said, “Ghana is currently the poster child for African economic growth and positive consumer sentiment. The International Monetary Fund estimates its GDP will rise 8.8 percent this year – double the pace of emerging economies as a whole, and well ahead of world growth.

“This is a result of factors such as expanding crude oil production, a stable democracy and the introduction of a more favourable taxation structure. Ghana’s manufacturing industry has also been boosted by policies aimed at diversifying the economy and preventing an over-reliance on the commodity markets.”

This overall positive outlook is reflected by Ghanaian consumers’ greatly improved view of their job prospects, with a 10-point increase to 63 percent, saying they will be excellent or good in the next six months.

In terms of the state of their personal finances over the next 12 months, 74 percent say excellent or good up from 70 percent and the number of Ghanaian consumers who feel now is a good or excellent time to purchase has also seen a large increase quarter on quarter, from 34 percent to 46 percent.

Looking at whether Ghanaians have spare cash, 52 percent say yes, up nine points from the previous quarter. Once they meet their essential living expenses, the highest number of consumers (82 percent) put their spare cash into savings, followed by 72 percent on home improvements/decorating and 67 percent who invest in stocks and mutual funds.

When looking at the real life factors that are having a negative impact on Ghanaians outlook, the top concerns over the next six months include work/life balance at 24 percent; the same figure as the last quarter, rising food prices at 22 percent (dropped by three points compared to Q1’19) and tolerance towards different religions, also at 22 percent (increased by one percent since the previous quarter), and children’s education and welfare at 18 percent which has seen a 2-point increase.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via [email protected]

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Economy

Dangote Cement Assures Shareholders Lasting Value, Pays N753.8bn Dividend

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dangote cement shareholders AGM

By Aduragbemi Omiyale

Shareholders of Dangote Cement Plc have been assured of lasting value for their investment and trust in the cement producing firm.

This assurance was given by the chief executive of Dangote Cement, Mr Arvind Pathak, at the company’s Annual General Meeting (AGM), where shareholders approved the payment of N753.8 billion as dividend for the 2025 financial year.

The cement brewer paid a cash reward of N45 per share for the year, a 50 per cent increase in dividend payout from the N30 per share a year earlier, reaffirming the company’s position as one of the most rewarding investments on the Nigerian Exchange (NGX).

The increase follows the company’s outstanding 2025 financial performance and underscores its unwavering commitment to shareholder value creation.

It was the highest dividend payout in the history of Dangote Cement and reflects the strength of its earnings capacity, robust cash generation ability, and disciplined execution of its growth strategy

Dangote Cement delivered a landmark financial performance in 2025. Earnings per share rose significantly to N59.86, demonstrating the company’s resilience and operational excellence despite prevailing macroeconomic challenges.

Mr Pathak said the dividend increase is backed by the organisation’s strong financial performance and healthy balance sheet.

“The decision to increase our dividend by 50 per cent to N45 per share demonstrates the strength of Dangote Cement’s earnings capacity and cash generation capability.

“As we continue to execute our pan-African growth strategy, we remain committed to creating lasting value for our shareholders, investing in the future of the business, and supporting Africa’s industrial development. Our shareholders have stood by us throughout our journey, and we are delighted to reward that trust with another significant increase in returns,” he stated.

The chief executive noted that the firm continues to strengthen its footprint across Africa through strategic investments and capacity expansion projects.

In 2025, Dangote Cement commissioned a 3-million-tonne-per-annum grinding plant in Côte d’Ivoire, reinforcing its presence in West Africa and increasing total installed capacity to 55 million tonnes per annum (Mta) across eleven African countries.

He added that the Company remains focused on its long-term objective of expanding installed capacity to 80Mta by 2030, while driving operational efficiency, increasing exports, enhancing sustainability initiatives, and improving shareholder returns.

On his part, the chairman of Dangote Cement, Mr Emmanuel Ikazoboh, said the increase in dividend payout reflects the company’s determination to reward shareholders for their continued confidence and support.

“Our commitment remains to create sustainable value for all stakeholders. This significant increase in dividend demonstrates the strength of our business model, our disciplined approach to capital allocation, and our confidence in the future. We are grateful for the trust our shareholders have placed in us over the years and remain committed to delivering superior returns while maintaining the highest standards of corporate governance and operational excellence,” he stated.

The organisation’s dividend history has continued to set benchmarks in the Nigerian capital market. Over the past 15 years, Dangote Cement has distributed more than N3.3 trillion in dividends to shareholders, reinforcing its reputation as a dependable creator of long-term wealth.

The latest dividend increase follows a previous 50 per cent rise from N20 per share to N30 per share, underscoring a consistent record of rewarding shareholders.

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Economy

Binance Crosses $1bn in Assets Under Management for Stocks Trading

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Binance

By Aduragbemi Omiyale

Stock trading on the world’s leading blockchain ecosystem and digital asset infrastructure provider, Binance, has hit a significant milestone, surpassing $1 billion in assets under management (AUM) in 30 days since launch.

This milestone follows the recent achievement by bStocks, Binance’s tokenised 1:1 US securities, which hit $100 million in AUM within two weeks of launch.

Since the platform began stock trading on June 1, 2026, it has recorded more than $3 billion in total trading volume.

Stock trading on Binance gives users access to over 7,000 US stocks and ETFs, settled in stablecoins, directly within the app alongside their existing crypto holdings.

Analysis showed that the average daily inflows stood at $42 million, while approximately 73 per cent of users come from emerging markets, with one in 7 visitors to Binance’s stock trading page registering an account; of those new sign-ups, nearly 90 per cent went on to place a trade.

In addition, fractional orders averaged 35 per cent of equity trading volume, with users able to participate from as little as $5, while almost 71 per cent of equity holdings are allocated to the Technology sector, with almost half (48 per cent) of that directed toward Semiconductors.

Nearly 740 of the 7,000 available stocks and ETFs have already been traded, with the Technology sector generating approximately 23 times the trading volume of other sectors, underscoring the conviction that Binance users have behind these positions.

The allocation patterns are consistent with a financially literate user base actively managing sector exposure rather than trading indiscriminately.

Binance Research projects that by 2031, crypto exchanges as a category could channel $2 trillion in incremental capital into global equity markets and bring 300 million new investors into the asset class.

“A billion dollars in 30 days is a sign of the demand that has been waiting decades for a door to walk through. The walls that kept most of the world out of US stocks were never as solid as they looked. We built this for the hundreds of millions of people who never had a way in,” the Head of Exchange and Trading at Binance,” Shunyet Jan, stated.

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Economy

Velex Advisory’s Approach to Financial Structuring for Business Growth

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Velex Advisory

Expansion across Africa is often framed as a market opportunity.

New customers, growing adoption, and expanding digital ecosystems continue to attract businesses into multiple African markets. Yet for many companies, growth across the continent becomes difficult to sustain beyond initial entry.

Across African markets, businesses must operate within different tax regimes, currency environments, banking systems, and capital access frameworks. These differences introduce financial complexity that directly impacts how companies manage cash flow, allocate capital, and sustain operations across jurisdictions.

Over time, these issues increase financial risk and slow growth, limiting the ability of emerging growth companies and established businesses alike to scale sustainably.

Financial Advisory as a Strategic Growth Enabler

According to Velex Advisory, managing this complexity requires more than accounting. It requires a structured approach to how financial decisions are made across the business.

“Poor financial management and structure is one of the biggest challenges businesses across Africa face, especially as they expand. In many cases, growth happens faster than the systems supporting it, which then leads to cash flow pressure, inefficiencies across markets, and difficulty sustaining that growth,” says Jonathan Nwanze, Finance Manager, Velex Advisory West Africa.

Businesses, therefore, need structured, strategic financial advisory to help them:

  • Align their financial structure and capital structure with the expansion strategy
  • Manage capital across multiple jurisdictions, and maintain visibility across revenue and cost centers.
  • Prepare for investment, funding, and capital raising
  • Ensure compliance without limiting operational flexibility.

This is what enables businesses to move from operating to scaling with clarity, financial flexibility, and control across markets.

How Velex Advisory Structures Finance for Scalable Growth

Financial advisory is one of Velex Advisory’s core service areas, supporting businesses by aligning financial strategy with how they operate and expand across African markets.

Rather than treating finance as a back-office function, the firm works with companies to ensure that financial decisions support business growth, market entry, and long-term sustainability across multiple jurisdictions.

“Scaling across multiple markets requires more than access to capital. It requires discipline in how that capital is structured, deployed, and managed across the business,” says Vadim Mildov, Executive Chairman, Velex Group.

At Velex Advisory, financial advisory is delivered as a structured, hands-on process that connects financial planning with operational and strategic decision-making across the business.

This includes:

i) Tax Advisory

Operating across multiple markets requires careful alignment with different tax regimes.

Velex Advisory supports clients in structuring their operations to ensure tax efficiency while maintaining compliance with local regulations. This includes corporate tax positioning, cross-border tax considerations, and aligning tax structures with revenue flows, business plans, and overall financial goals.

ii) Financial and Investment Analysis

As businesses scale, financial visibility becomes increasingly important.

Velex Advisory provides financial and investment analysis to help businesses assess performance, evaluate growth opportunities, and prepare for investment or expansion. This includes supporting investment readiness, understanding valuation, and identifying financial risks across markets.

iii) Banking Advisory and Assurance

Access to banking infrastructure and financial institutions varies significantly across African markets.

Velex Advisory supports businesses in establishing and managing banking relationships, navigating local financial infrastructure, and aligning capital and liquidity structures with operational needs. This includes guidance on liquidity management, capital planning, and financial systems that support cross-border operations.

Connecting Financial Structure to Business Growth

Financial advisory does not operate in isolation. Velex Advisory also supports businesses across key operational and legal functions that directly impact how companies operate and expand.

“Financial structuring and legal structuring are deeply connected. Decisions around transactions, partnerships, and expansion have direct implications on risk exposure and long-term sustainability,” explains Laura Gacho, Legal Manager, Velex Advisory East Africa.

On the legal side, the firm provides support in licensing and regulatory compliance, intellectual property and data protection, and transaction advisory, including joint ventures, M&A transactions, capital raises, and strategic partnerships.

From a business advisory perspective, Velex Advisory works with clients on business establishment and development, market entry and growth strategy, human resources consulting, and due diligence and valuation support, ensuring that operational, structural, and strategic decisions are aligned from the outset.

By integrating business, legal, and financial advisory services, Velex Advisory supports companies in building structures that are not only compliant but capable of sustaining long-term success and growth across African markets.

As part of the broader Velex Group and working alongside Velex Hub and Velex Investments, the firm connects advisory, investment readiness, and expansion strategy into a single, coordinated approach across markets.

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