Economy
BUA Foods Promises to Deliver Value to Shareholders
By Modupe Gbadeyanka
The management of BUA Foods Plc has promised to not make shareholders regret their investment in the company as it is well-position to increasingly deliver value to them.
This assurance was given by the Group Executive Director of BUA Foods Plc, Mr Kabiru Rabiu, who represented the Chairman of BUA Group Plc, Mr Abdul Samad Rabiu, at the virtual Facts Behind the Listing and Closing Gong Ceremony at the Nigerian Exchange (NGX) Limited on Tuesday, January 18, 2022.
BUA Foods joined the nation’s main stock exchange on January 5, 2022, by introduction, boosting the market capitalisation of the NGX by N720 billion.
Speaking at today’s event, which was to engage capital market stakeholders, Mr Rabiu said the company intends to gain immensely from the listing of the firm on the bourse.
“The population of Nigeria is over 200 million and our food production capacity is still not enough to meet current demands.
“However, with the listing of our food business on the NGX, there is high hope for Nigeria in terms of building capacity for food sufficiency.
“We are, therefore, positioning our brand to take advantage of export opportunities through our strategically located plants from which foreign exchange can be generated both for the company and economy.
“As a listed company, BUA Group has benefitted first-hand from NGX’s efforts to chart a path for the sustainable development of the Nigerian economy,” he said.
Mr Rabiu added that, “It has been exciting for BUA Foods to go through a similar journey and we are confident that by leveraging the collaborative approach prevalent in the market, the entire group of companies will be equipped to increasingly deliver value to its shareholders.
“We certainly look forward to benefitting from the new opportunities that have opened up to as on the platform of the exchange.”
Earlier, the CEO of the NGX, Mr Temi Popoola, commended BUA Foods Plc for taking the bold step to join its subsidiary company, BUA Cement, as a publicly listed company on the bourse.
“The listing of BUA Foods Plc on The Exchange reaffirms the confidence that leading Nigerian corporates have in NGX as the partner of choice for raising capital and enabling sustainable growth and development.
“I must commend the efforts made by the Management of BUA Foods towards this listing and the roles played by all the professional parties to this transaction including; Stanbic IBTC Capital Limited, Rand Merchant Bank Nigeria Limited, UCML Capital Limited, APT Securities Limited and CardinalStone Securities Limited,” he said.
“At NGX, this milestone transaction is in line with our strategic objectives to improve listings and enhance investors’ participation in our market.
“As a multi-asset exchange, NGX is strategically positioned to be the preferred listing and investment destination connecting Nigeria, Africa and the world.
“I must, therefore, encourage capital market players and enthusiasts at home and abroad to pay closer attention to the plethora of opportunities available in our market both to list securities and make the most of their investments,” Mr Popoola added
By Aduragbemi Omiyale
Shares of First HoldCo Plc are currently being on high demand at the Nigerian Exchange (NGX) Limited after information got out that serial entrepreneur, Mr Femi Otedola, is now in control of about 40 per cent of the financial services provider.
On Wednesday, the company was the busiest equity on Customs Street, selling 10.5 billion units valued at N324.5 billion.
The off-market block trading was executed through negotiated deals as the transactions were privately arranged between parties and then reported to the bourse.
It was learned that 17 separate deals took place involving First Securities Ltd as the buyer with CardinalStone Securities Limited, Meristem Stockbrokers Limited, Renaissance Capital (Rencap) Securities Limited, Regency Asset Management Limited, United Capital Securities Limited, Stanbic IBTC Stockbrokers Limited, and First Securities Limited also as sellers in some deals.
According to reports, the former chairman of First HoldCo, Mr Oba Otudeko, gave up more than 20 per cent of his stake in the organisation to his rival, Mr Otedola, who increased his shareholding from 15 per cent to 40 per cent, putting him in almost total control of the firm, which operates the flagship First Bank of Nigeria Limited.
It was gathered that Mr Otedola bought the 5 per cent equity stake belonging to another long term shareholder; the Hassan-Odukales, after voluntarily quitting the company.
Business Post observed that on Thursday, investors are jostling to take position in the company because of the latest acquisitions by Mr Otedola, who they believe could bring stability to the fold.
At the time of filing this report at midday trading, shares of FirstHoldCo were up by 9.94 per cent to N35.40 per unit from the N32.20 per unit they closed at midweek.
By Adedapo Adesanya
The Central Bank of Nigeria (CBN) has announced that its 301st Monetary Policy Committee (MPC) meeting is scheduled to take place on Monday, July 21 and Tuesday, July 22, 2025.
The MPC meeting, which will be held at the MPC Meeting Room located within the CBN Headquarters in Abuja, is one to watch as inflation eased again last month.
At the last meeting in May, which coincided with the 300th session, the team retained the Monetary Policy Rate (MPR) at 27.50 per cent, the second consecutive hold in 2025.
This second pause in rates came after six consecutive hikes recorded in 2024
The CBN also retained the asymmetric corridor around the MPR at +500/-100 basis points, the Cash Reserve Ratio of Deposit Money Banks at 50.00 per cent, and that of Merchant Banks at 16.00 per cent, while keeping the Liquidity Ratio unchanged at 30.00 per cent.
The MPC based the decision on improvements in macroeconomic indicators at the time.
Now, analysts say the MPC may consider cutting interest rates since inflation has slowed for yet another month in June 2025.
On Wednesday, the National Bureau of Statistics (NBS) reported that Nigeria’s headline inflation rate moderated for the third consecutive month to 22.22 per cent in June 2025 from 22.97 per cent in May 2025. It was 23.71 per cent in April 2025, down from 24.23 per cent in the prior month.
According to the latest Consumer Price Index report released by the bureau, the year-on-year figure reflects a 0.75 percentage point decline from the previous month and a significant 11.97 percentage point drop when compared to June 2024, which recorded an inflation rate of 34.19 per cent.
The food inflation rate stood at 21.97 per cent year-on-year in June, a sharp drop from 40.87 per cent recorded in June 2024. This significant fall is attributed largely to the base year effect.
On a month-on-month basis, food inflation rose to 3.25 per cent in June, up from 2.19 per cent in May, driven by price increases in staples such as tomatoes, pepper, dried green peas, crayfish, shrimps, meat, plantain flour, and ground pepper.
The decision next week will hinge on the ability of the county to navigate economic challenges including inflationary pressures, foreign exchange volatility, and the global economic outlook.
Despite these, many quarters including the World Bank and the International Monetary Fund (IMF) have lauded reforms introduced by the federal government aimed at boosting local production and reducing demand for forex, noting that such moves would help dampen inflationary pass-through.
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange closed flat on Wednesday, July 16, on weak investors’ appetite after the market resumed from a break in honour of the late former Nigerian President Muhammadu Buhari on Tuesday.
At the close of trading yesterday, the market capitalisation remained unchanged at N2.033 trillion and the NASD Unlisted Security Index (NSI) was intact at 3,472.84 points.
The bourse was not operational the previous day because of the public holiday to commemorate the demise of the late Nigerian leader, who died on Sunday in London and was buried in his hometown of Daura on Tuesday.
Business Post reports that the share prices of all stocks on the trading platform remained unchanged at midweek.
However, the activity chart witnessed movements, with the volume of transactions going down by 99.9 per cent to 90 units from the 1.3 million units recorded on Monday.
Also, the value of trades by the market participants declined by 99.9 per cent to N5,850 from the N9.9 million achieved in the previous trading day, and the number of deals went down by 84 per cent to four deals from the 25 deals executed in the preceding session.
Impresit Bakolori Plc remained the most active stock by volume on a year-to-date basis with the sale of 536.9 million units for N524.8 million, the second spot was taken by Air Liquide Plc with 507.2 million units valued at N4.2 billion, and the third position was claimed by Geo-Fluids Plc with 272.3 million units worth N493.4 million.
Okitipupa Plc ended the trading day as the most traded stock by value on a year-to-date basis with a turnover of 153.8 million units valued at N4.9 billion, Air Liquide Plc occupied the second spot with 507.2 million units traded for N4.2 billion, and the third position was taken by FrieslandCampina Wamco Nigeria Plc with 42.3 million units worth N1.8 billion.
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