Equity Market Valuation and Investment Strategy for H2-18

By Aduragbemi Omiyale An application and proprietary solution for micro, small and medium-sized enterprises (MSMEs) in Nigeria, known as Aleph Express, has been launched by Aleph Group. A statement from the firm explained that Aleph Express provides a platform for MSMEs to create and maintain a free e-commerce website, create a product catalogue, set local delivery options, manage, record and process orders while gaining meaningful insights to drive growth. The platform also provides one unified inbox that integrates WhatsApp, Messenger, and Instagram, to enable businesses to efficiently engage and sell – all in one place. In addition, Aleph Express provides

By Adedapo Adesanya The Nigeria Labour Congress (NLC) has said it would ensure that the next national minimum wage to be negotiated in 2024 reflects the prevailing cost of living. The union also lamented that following the removal of fuel subsidy by the federal government, life has become extremely unbearable for workers. Addressing participants at the opening of the 19th edition of the NLC’s Harmattan School in Abuja, President of the NLC, Mr Joe Ajaero, said it had become necessary for governments at all levels to recognise that life and living conditions were exceedingly difficult, especially for working people in

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange recorded a 0.18 per cent gain to open the week in positive territory on Monday, December 4, with the unlisted security index rising by 1.59 points to end the day at 862.40 points compared with last Friday’s closing value of 860.81 points. The improvement recorded by the bourse yesterday raised the value of the unlisted stock exchange by N2.5 billion to close at N1.169 trillion, in contrast to the preceding session’s N1.166 trillion. The gain posted by the bourse was driven by the N13.70 added to the share price of 11

By Adedapo Adesanya  The prices of the crude oil benchmarks, Brent and the West Texas Intermediate (WTI) fell to a near five-month low on Tuesday on a stronger US Dollar and demand concerns. According to data obtained by Business Post, Brent futures went down by 83 cents or 1.1 per cent to $77.20 a barrel and WTI weakened by 72 cents or 1.0 per cent to $72.32 per barrel. The prices were the lowest for both crude benchmarks since July 6. This put the market down for a fourth day in a row on doubts over voluntary supply cuts announced by

By Dipo Olowookere The sale of N15 billion worth of commercial paper by the Rand Merchant Bank (RMB) Nigeria Limited will close today, Wednesday, April 6, 2022. The financial institution is selling the notes to investors as a result of the need to get funds for its short-term working capital requirements and for general corporate purposes. The exercise started on Friday, April 1, 2022, with the paper offered in two tenors of 182 days and 270 days, according to details of the exercise, which has FCMB Capital Markets Limited as the dealer. The commercial paper sale, which is under the

By Dipo Olowookere Members of the public can now become a part-owner of the Nigerian Stock Exchange (NSE) following the approval given to the exchange to list its shares by introduction. The authorisation was given on Wednesday during the 59th Annual General Meeting (AGM) of the local bourse held in Lagos. At the gathering, which is expected to be its last as a mutual entity, members of the NSE voted overwhelmingly to support the listing of the Nigerian Exchange Group Plc (NGXG) on the Nigerian Exchange Limited (NGX) once the demutualization of the NSE is completed. NGX is the new

By Modupe Gbadeyanka A group known as IPOB-Rebranded has asked the federal government to declare a state of emergency in the southeast region of Nigeria. In a statement issued by its Director of Media and Enlightenment, Mr Chigozie Igboanugo, the group said it was making this demand because the state governments from the region have surrendered their powers to non-state actors like the Indigenous People of Biafra (IPOB). The Igbo organisation, which described IPOB as a terrorist group, said it was now clear that political, religious, traditional and socio-cultural leaders from the south-east cannot guarantee the rights of law-abiding citizens

By Dipo Olowookere Not less than $200 million has been invested in the Egbin Thermal Power Plant in Lagos by Sahara Power Group to increase its generating capacity to its present level. Managing Director of Sahara Power Group, Mr Kola Adesina, speaking at an event organised by the firm in Lagos, stated that when the Egbin power plant was acquired by Sahara Power, it was generating 400MW of electricity. But with the huge investment made by his company, the plant now generates 1,100 MW, indicating that capacity has been more than doubled. Mr Adesina said though the privatisation of the

The prices of locally made vehicles in the B-segment have been reduced by Hyundai Motors Nigeria Limited. This, the auto firm said, was done to increase the number of brand new small vehicles on the country’s roads. “Stallion Hyundai Motors Nigeria is determined to cushion imminent scarcity of functional B segment cars and mitigate price increase of cars owing to last year’s prohibition of used vehicle import through the land borders. “The offer also gives customers to buy the desired Hyundai models during this Easter festive season,” Hyundai Motors said in a statement issued by its spokesman, Mr Santhosh Nair.

By Dipo Olowookere The Canadian government has provided funding of up to $8.2 million CAD to support the commercialization of a low energy (i.e. low cost) water treatment system for the oil and gas industry. A statement issued by MGX Minerals said its engineering partner PurLucid Treatment Solutions was awarded this grant. This investment not only represents a compelling vote of confidence from highest level but also a major push forward for petrolithium, the firm said. This funding will allow MGX to bring its petrolithium technology to market with the support of the Federal and Provincial Government in a much

By Aduragbemi Omiyale There seems not to be an end to the rising inflation in Nigeria, as the National Bureau of Statistics (NBS) on Tuesday announced that the average cost of goods and services increased by 21.09 per cent in October 2022. In the previous month, September 2022, the inflation rate was 20.77 per cent, and when compared with October 2021, it rose by 5.09 per cent, as it was 15.99 per cent in the same period last year. The stats office said the percentage change in the average consumer price index (CPI) for the 12 months ending October 2022