Economy

Property Experts to Brainstorm in Lagos at WAPI Summit

Published

8 years ago

18/09/2018

By Dipo Olowookere

November 15 and 16, 2018 have been fixed for this year’s West African Property Investment (WAPI) Summit, the region’s most prominent and largest real estate investment and development conference, slated for Eko Hotel and Suites, Lagos.

According to the summit’s host, API Events’ Kfir Rusin, this year’s theme: RE-Calibrating Supply and Demand for Sustainable Growth, is a natural evolution of the previous year’s theme, Changing the West African Narrative, which aided more than 400 delegates representing over 200 companies to reposition the sector in a region sparked to a growth footing by Nigeria’s exit from recession.

As Rusin expands, “The market has undergone a shift, which is most evident in the changing retail and office occupier market. To help our 500 delegates unpack these changes – we’re pleased to announce that we’ve secured more than 60 well-known regional and international thought leaders to speak at #WAPI2018. These include, Broll Nigeria’s CEO, Bolaji Edu, regional legal authority, Olasupo Shasore (SAN), Ali Djire, Fraym’s Country Manager and PwC Nigeria’s Chief Economist Andrew S Nevin.”

As the head of one of the region’s largest multi-disciplinary commercial property services providers, Broll’s Bolaji’s Edu, position provides him with a unique position to gauge how the market has re-calibrated post-recession.

As Bolaji says, “If we analyse the grade-A office market in Lagos and the overall retail mall market following the economy entering a deep recession in 2016; take up dropped by approximately 40% (offices) and 55% (retail) between 2016 and 2017. However, as the economic recovery strengthens, we have seen numbers flatten out, and we expect to see an increase over the whole of 2018 from the low point of 2017.”

And while Bolaji argues that the drop-off proved challenging it did enable the market to strike a balance, especially at the height of investment – with property values reaching sky high levels. This boom, he says can be attributed to the post 2007 global recession economy whereby investors fuelled by low interest rates entered emerging markets aggressively searching for high yields.

As Bolaji explains, “We don’t expect to see the same level from the institutional international investment community, which lead to emerging market currencies being too strong and artificially inflated the size of the economies and the size of the middle class in USD terms.”

A More Sustainable Market

Following this inflation and subsequent re-adjustment, Bolaji believes that the market is now on a more long-term stable footing. Commenting that: “The market has begun to rebase itself down from a level where rent levels and capital values in parts of Lagos were comparable to the wealthiest cities in the world such as New York and the out skirts of London.” For him, this is most evident in the reducing rates in the commercial and retail sectors, which are now at “more sustainable levels,” he says.

One of the most striking results of this re-calibration are the new strategies employed by developers to cater to demand and not “copy & paste” and a change in the demographic of international retailers drawn to the market’s demanding and aspirant middleclass.

“Developers and investors in the market are examining building size and design that better reflect the target market. It is important to entertain best practices and the latest trends from around the world, but we need to tailor our projects,” says Bolaji, adding that the region’s market size and growing demand from the middleclass means that retailers and companies still wish to establish a presence in Nigeria.

“However, they are looking at this more strategically taking into consideration both the potential risks in addition to the incredible upside opportunities. International investors and retailers are seeking more partnership opportunities.”

Market Trends

As the market continues to evolve, Broll has deduced several key trends emerging within the local retail space says Bolaji. “We see local retailers driving demand for retail space especially in secondary locations, while international retailer demand is predominantly driven by retailers from Europe and the Americas, whereas historically, Asian brands were the most aggressive,” pointing out that the biggest demand driver in existing malls is food and beverage.

As the market continues to evolve and re-calibrate in line with economic development – Bolaji has noted the demand continues to be driven by the high end and budget segments. “These are the two areas that we see most enquiries from both investors/developers and retailers and corporates.”

Rising Oil Prices

While the rising oil price continues to be of benefit to overall regional GDP growth, Bolaji believes that one market seeing un uptick from oil’s surge is the office sector with occupier demand being driven by the oil and gas sector. While this may not reach the highs of previous eras, especially as many of the new firms are local oil servicing firms. The trend he believes is driven by the fact these local companies can enjoy shorter timelines when closing transactions compared to their international counterparts.

Rusin concludes sharing Bolaji’s views, “We’ve witnessed continued development across Africa and Nigeria, and as an African bellwether economy – what happens in Nigeria sends ripples across the continent from an investment and trend perspective. I believe Bolaji’s presentation and together with other leading panellists will aid us in achieving our key objectives of: identifying the critical shifts in consumer, occupier and retailer demand, and how these changes will shape the future of the industry.”

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Dipo Olowookere

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

46 Stocks Gain Weight, 53 Equities Lose on NGX in One Week

Published

2 hours ago

27/04/2026

Dipo Olowookere

By Dipo Olowookere

The Nigerian Exchange (NGX) Limited was bullish last week despite investors’ mood swing, triggered by happenings in the country and across the globe, especially the Middle East crisis.

The All-Share Index (ASI) and the market capitalisation appreciated week-on-week by 3.94 per cent to 225,722.49 points and N145.335 trillion, respectively.

Similarly, all other indices finished higher with the exception of the growth and commodity indices, which depreciated by 0.02 per cent and 0.41 per cent, respectively, while the sovereign bond index closed flat.

A look at the price changes of shares in the five-day trading week showed that

46 stocks gained weight versus 61 stocks of the previous week, 53 equities shed weight compared with 36 equities a week earlier, and 47 shares closed flat, in contrast to 49 shares of the preceding week.

UAC Nigeria led the gainers’ chart after it chalked up 42.00 per cent to trade at N142.00, Union Dicon appreciated by 32.73 per cent to N21.90, NASCON expanded by 32.63 per cent to N206.90, Trans-Nationwide Express rose by 30.58 per cent to N7.90, and Zichis improved by 25.71 per cent to N15.60.

On the flip side, Infinity Trust Mortgage Bank led the losers’ group after it gave up 50.79 per cent to close at N9.35, Abbey Mortgage Bank declined by 33.33 per cent to N5.40, Guinea Insurance slipped by 15.20 per cent to N1.06, Stanbic IBTC lost 13.82 per cent to settle at N162.50, and Living Trust Mortgage Bank slumped by 10.98 per cent to N3.65.

As for the activity log, Customs Street recorded a turnover of 3.805 billion shares worth N213.955 billion in 297,202 deals in the week compared with 3.588 billion shares valued at N195.313 billion transacted in 254,553 deals in the previous week.

Financial stocks led the activity chart with 2.739 billion units sold for N106.269 billion in 135,101 deals, contributing 71.99 per cent and 49.67 per cent to the total trading volume and value, respectively.

Services equities traded 212.324 million units worth N4.024 billion in 17,042 deals, and consumer goods shares exchanged 180.076 million units valued at N13.269 billion in 32,457 deals.

Access Holdings, UBA, and First Holdco were the busiest with 814.060 million units traded for N39.032 billion in 37,195 deals, contributing 21.40 per cent and 18.24 per cent to the total equity turnover volume and value, respectively.

Economy

NGX Group’s 65th Annual General Meeting Holds April 29

Published

8 hours ago

27/04/2026

Aduragbemi Omiyale

By Aduragbemi Omiyale

The 65th Annual General Meeting (AGM) of the Nigerian Exchange (NGX) Group Plc has been fixed for Wednesday, April 29, 2026, at 11:00 am at its corporate head office on 2–4 Customs Street, Lagos.

Business Post gathered that the meeting would be streamed live on the company’s website and social media platforms to enable broader participation by shareholders and stakeholders unable to attend physically.

As part of a special business, shareholders will consider a proposed bonus issue of one new ordinary share for every three existing shares held as at the close of business on April 10, 2026, subject to regulatory approvals.

The proposal also includes an increase in the organisation’s share capital from N1,102,309,954 to N1,469,746,605, to accommodate the bonus shares and amendments to the Memorandum of Association to reflect the new capital structure.

Also at the gathering, shareholders will consider and, if deemed fit, approve the company’s audited financial statements for the year ended December 31, 2025, alongside the reports of the directors, auditors, board evaluation consultants, and audit committee.

The meeting will also deliberate on the declaration of a final dividend and the re-election of three non-executive directors retiring by rotation, who are Mr Umaru Kwairanga, Mrs Ojinika Olaghere, and Dr Okechukwu Itanyi.

Other ordinary business items on the agenda include authorising the board to fix the remuneration of the external auditors, determining the remuneration of managers, and electing members of the statutory audit committee.

Economy

BNB Price Reflects Changing Dynamics in the Digital Asset Market

Published

2 days ago

25/04/2026

Dipo Olowookere

Digital asset markets have slowed, though not in a dramatic way. Things are still moving, just not with much urgency. The BNB price reflects that shift, sitting within a tighter range as broader conditions begin to shape behavior more than short bursts of demand.

It can feel uneventful at first. No strong push higher, no sharp drop either. But the movement is still there. It just does not travel far. A rise begins, then fades. A dip forms, then steadies again. It repeats more than you might expect.

That pattern tends to linger. Sometimes longer than people anticipate, especially when there is no clear reason for it to change quickly.

BNB Price Movement Reflects Exchange-Driven Demand

BNB does not behave like assets that rely purely on outside demand. Its connection to the Binance ecosystem changes that.

Usage matters here. Trading activity, transaction volume and general platform engagement all feed into how BNB is used. That connection is not always obvious in the short term, but it sits underneath everything.

Sometimes it shows up clearly. Other times it does not. The relationship is there either way.

When activity holds steady, price often follows that tone. It does not surge, but it does not weaken much either. It stays somewhere in the middle, supported without needing strong momentum. It reflects usage more than speculation in many cases.

Market Conditions Continue to Shape Price Behaviour

There is also the wider market to consider. Binance has pointed out that liquidity remains tight, with capital concentrating in a smaller number of assets.

Bitcoin still holds close to 59% of the market. Ethereum sits much lower, around 11.8%. After that, the drop-off becomes more noticeable. Smaller assets make up far less than they once did. That shift matters. It changes how everything moves.

When capital gathers like this, movement tends to compress. Prices still change, but not as freely. It becomes harder for assets to break away from the general pattern.

BNB is part of that. It does not sit outside these conditions. It moves with them more often than against them.

BNB Utility Remains Central to Its Value

There is also the question of utility, which tends to be discussed but not always fully understood.

BNB is used across the Binance ecosystem in practical ways. Fees, transactions, access to services. These are not abstract use cases. They happen regularly, even when markets feel quiet.

That kind of activity does not always push prices higher. But it does create a base level of demand. Something that holds, rather than drives.

Over time, that can matter more than short bursts of interest. It gives the asset a different kind of stability. Not fixed, but less reactive. That difference tends to show up more clearly over longer periods.

Institutional and Retail Activity Remain Balanced

Participation is mixed. Institutional involvement has increased, but it does not dominate. Retail activity is still there and often more visible in certain phases. Neither side controls the market on its own. That is part of why movement feels less defined.

At times, it can seem like different forces are pulling in slightly different directions. Not enough to create volatility, but enough to prevent a clear trend from forming.

So price moves, then pauses. Moves again, then settles. It continues like that, without fully committing to either direction.

Global Participation Continues to Expand

Outside of price, participation continues to grow. Estimates suggest global cryptocurrency users are now approaching 860 million, reflecting continued expansion across digital asset markets.

That kind of growth does not always appear in charts straight away. It builds slowly. People enter the space, others remain active and usage continues in ways that are not always easy to track day to day.

BNB sits within that broader expansion. As the ecosystem grows, so does the potential for continued use. It is not immediate. It rarely is. But it accumulates over time. That gradual build tends to matter more than short-term spikes.

Local Economic Conditions Add Perspective

Broader economic conditions still play a role. Inflation remains around the mid-teen range, which suggests the environment is stabilizing, though not completely settled.

That kind of backdrop tends to influence behavior. When conditions feel uncertain, decisions become more measured.

It does not directly control how BNB moves. But it helps explain the pace. Why do things feel slower, more contained? Markets do not exist in isolation, even when they seem separate. External factors tend to feed in gradually.

Right now, the market feels balanced more than anything else. The B&B price reflects that. Not pushing higher, not dropping away. Just holding.

There is still activity underneath. Usage continues. Participation grows. Liquidity shifts, even if it is not always visible.

For now, BNB is sitting in that middle space. Not doing too much, but not losing ground either. It might not stand out. But these phases tend to matter more than they first seem. Over time, they often shape what comes next, even if that is not immediately obvious.