Economy
Reasons Why a Financial Advisor Can Help Your Business
The best way to think about a financial advisor is that they are someone who can help you out significantly when you are working on growing your business. There are a variety of ways that this happens, and we want to take a look at some of the most useful things that a financial advisor can do to help you out.
Business Owners Need Financial Advisors Immediately
It is always a juggle to try to balance one’s personal finances, and that doesn’t even take into account what can happen when one is also trying to balance the budget of a business that they are running. This is why it is recommended that you get a financial advisor here to help you out with every aspect of your personal and business finances.
A financial advisor can let you know exactly how much money is flowing through your business and the steps that you may need to take to secure as many of those funds as you can for the future. This is to say that you may choose to work with a financial advisor to simply get the details that you need about how to balance out the zeros and ones that make up your entire budget.
Another thing that you can get from a financial advisor for your business are some great projections about the direction where your business is likely to head in the future. They can read the numbers in ways that are useful for you to project out what the future may look like for yourself and your team. Believe it or not, just having some accurate figures like this may be exactly what you need to figure out which steps to take next.
Find Some Cost Savings
Looking for ways to save money is wise both for individuals who are working on their personal budgets, and also for businesses that are attempting to save down the budget ever so slightly. It is a great way to make sure the business is going to be able to stick around for the long run. Additionally, even a business that is very healthy and on the right track can benefit from a look at some ways to pare down costs. After all, a dollar saved is a dollar earned.
Financial advisors are great at identifying where there are savings to be had. They look at your budget in a non-judgemental way, and they can help you figure out exactly what you need to do in order to help bring about more savings in the long run. Once those factors have been identified, then you can work with the financial advisor to put real action steps into play to start to make the hard changes that are necessary to get the kind of results that you desire.
Manage Different Stages of Growth
Often, business owners don’t quite realize what stage of growth their business is in. They think that they need to use a certain approach that has worked well for them in the past. However, they may not be thinking about how they can adapt their approach to the circumstances that surround them instead. Different stages of growth require different levels of management and different strategic approaches. Don’t assume that what you have been doing to help grow your business up to this moment is going to work in exactly the same ways in the future.
Changing things up is healthy and normal for a business to do. You simply need to adapt to the conditions around you as they evolve. If you fail to do so, then you may end up losing ground to your competition very quickly. Financial advisors can guide your company through each stage of the growth process so you always know what you need to do in order to get the kind of results that you are looking for.
Personal Finances and Business Finances
A great financial advisor will help you set up both your personal finances and your business finances at the same time. After all, both of these things matter and need to be headed in the same upward direction. It is possible for you to align both things if you just work at it to take care of both matters at the same time. A financial advisor can provide you with the information and knowledge that you require to help get you the end results that you are looking for.
Trust in the abilities of your financial advisor to help lead you to the promised land. They are great at what they do, and they will happily show you the steps that you need to take to bridge where you are now and where you want to be in the future. Speak with them openly and honestly.
By Aduragbemi Omiyale
The ex-depot prices of the two major petroleum products in the country, Premium Motor Spirit (PMS), commonly known as petrol, and Automotive Gas Oil (Diesel), have been slashed by Dangote Petroleum Refinery.
The company, in a statement on Wednesday, disclosed that while petrol is now N1,165 per litre, diesel is now N1,570 per litre.
The energy firm said it slashed the prices to reaffirm its commitment to providing affordable, high-quality petroleum products to the Nigerian market.
The latest cut in the price of PMS represents N50, as it was previously sold to marketers at N1,215 per litre, while diesel witnessed an N80 reduction, as it was formerly being sold at N1,650 per litre.
Dangote Refinery stated that the downward price review reflects its ongoing efforts to enhance energy affordability, improve access to refined petroleum products, and support economic activities across Nigeria, saying it remains committed to ensuring stable supply while leveraging operational efficiencies to deliver value to consumers, businesses, and stakeholders.
As Africa’s largest refinery, Dangote Petroleum Refinery continues to play a pivotal role in strengthening Nigeria’s energy security, reducing reliance on imports, and supporting the nation’s economic development through the supply of world-class petroleum products.
The company reaffirmed its dedication to contributing to the growth of the Nigerian economy and passing on the benefits of improved operational efficiencies to consumers whenever market conditions permit.
By Adedapo Adesanya
Dangote Petroleum Refinery is preparing to raise about $5 billion through an initial public offering (IPO) expected to conclude in October, in what could become the largest stock market listing in Africa’s history.
The company has already submitted an initial application to the Securities and Exchange Commission (SEC), with approval expected in the coming weeks. Once authorised, the refinery is expected to release its prospectus in September ahead of the public offer.
The primary listing will be on the Nigerian Exchange (NGX) Limited, although investors across Africa are expected to participate through structured investment instruments rather than a dual listing.
The proceeds will be used to expand the capacity of the 700,000-barrels-per-day refinery in Lagos and possibly support plans to replicate the project in Kenya as Dangote seeks to deepen Africa’s energy independence.
The proposed IPO comes after the refinery benefited from increased demand for refined products during the recent Iran conflict, supplying jet fuel across Africa and into Western Europe as global shortages disrupted markets.
As per Reuters, stock exchanges in South Africa, Kenya, Egypt, Ghana and Rwanda have held discussions with advisers to the transaction as interest in the offering continues to build across the continent.
Kenya alone could account for as much as $500 million of the targeted capital raise, driven largely by demand from institutional investors, including pension funds, the publication reported.
While the company is targeting a $5 billion raise, the final amount will depend on the outcome of the SEC’s review. If achieved, the offering would represent more than four per cent of the Nigerian Exchange’s current market capitalisation.
The IPO follows a $2.5 billion private placement completed last month, in which a six per cent stake in the refinery was sold, implying a valuation of about $40 billion.
That valuation, however, would place the refinery well above several listed global refining companies. Turkey’s Tupras, which operates a similar combined refining capacity across four facilities, has a market value of roughly $12 billion, while US-listed HF Sinclair, with a comparable processing capacity, is valued at around $16 billion.
Although the NGX generally requires companies on its main board to maintain a minimum free float of 20 per cent, there have been exceptions. Dangote Cement, for instance, currently has a free float of just over 12 per cent.
The publication also reported that investors outside Nigeria are likely to gain exposure through instruments such as global depositary receipts or exchange-traded products linked to the Nigerian-listed shares, rather than through a cross-listing on other African exchanges.
The founder of the 700,000-barrels-per-day capacity plant, Mr Aliko Dangote, said in April that the refinery aims to increase production capacity to 1.4 million barrels per day.
Mr Dangote is also pursuing plans to build another refinery in Lamu along Kenya’s coast in partnership with other East African governments, although it remains unclear whether part of the IPO proceeds will be allocated to that project valued at an estimated $17 billion.
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange rallied by 0.89 per cent on Tuesday, August 4 amid renewed buying interest in unlisted stocks.
During the session, the market capitalisation added N24.07 billion to end at N2.739 trillion compared with Tuesday’s N2.715 trillion, while the NASD Security Index (NSI) gained 40.11 points to quote at 4,563.96 points compared with the preceding day’s 4,523.85 points.
The NASD OTC Exchange ended the trading session with two price losers and three gainers, led by Central Securities Clearing System (CSCS) Plc, which chalked up N7.80 to close at N119.80 per unit versus the previous session’s N112.00 per unit. Afriland Properties Plc increased its value by N1.27 to N23.95 per share from N22.68 per share, and Nitrox Industrial Gases Plc expanded by N1.15 to N21.15 per unit from N20.00 per unit.
On the flip side, FrieslandCampina Wamco Nigeria Plc slid by N8.64 to sell at N144.00 per share compared with the previous day’s N152.64 per share, and 11 Plc dipped by 1 Kobo to end at N225.00 per unit, in contrast to Monday’s closing price of N225.01 per unit.
Tuesday’s trading data showed that the volume of securities rose by 9.0 per cent to 1.6 million units from 1.5 million units, and the number of deals climbed by 6.5 per cent to 33 deals from 31 deals, while the value of securities dropped by 26.9 per cent to N47.6 million from N65.2 million.
At the close of trades, Great Nigeria Insurance (GNI) Plc remained the most traded stock by value on a year-to-date with 3.4 billion units worth N8.4 billion, followed by Infrastructure Credit Guarantee (Infracredit) Plc with 2.3 billion units valued at N6.5 billion, and CSCS Plc with 76.9 million units exchanged for N5.5 billion.
GNI Plc also closed the session as the most traded stock by volume on a year-to-date with 3.4 billion units transacted for N8.4 billion, followed by Infracredit Plc with 2.3 billion units sold for N6.5 billion, and Resourcery Plc with 1.1 billion units transacted for N415.7 million.
