Author: Gilbert Ayoola
Gilbert Ayoola is the Chairman of Ibadan Zone Shareholders’ Association. He is an investment expert with years of experience that cut across the Nigerian capital market.He has deep knowledge of the Nigerian economy, tracking the performance of listed companies, banking and finance, and government policy.With 20+ years of experience working with numbers across African financial markets, Gilbert delivers reports on corporate earnings and airs opinions on banks' activities and other money market players.He conducted extensive financial analyses of Nigerian Exchange’s Top 30-listed companies with depth and dexterity that match global best practices.Gilbert Ayoola is based in Ibadan, Oyo State, Nigeria
The Irony of Control: Boardroom Deal That Moved the Market At first glance, nothing appeared to happen on the Nigerian Exchange. Geregu Power’s public share register was untouched. No block trades crossed the tape. No dramatic price action followed. Yet, beneath the surface, one of the most consequential power-sector transactions in recent years had already been concluded. The deal was not a market transaction; it was a boardroom one. Geregu Power’s controlling entity is Amperion Power Distribution Company Limited. Femi Otedola, through his interests, held a dominant 95 percent stake in Amperion Power. That stake has now been sold to…
FPI Pullback from Nigerian Exchange Signals Tactical Caution Foreign Portfolio Investment (FPI) activity on the Nigerian Exchange (NGX) moderated further in November 2025, declining by 13.1% month-on-month to N162.04 billion (US$112 million) from N186.62 billion (US$131.27 million) in October. This marked the second consecutive monthly contraction, reinforcing a short-term risk-off posture among offshore investors amid global yield repricing, FX considerations, and profit-taking following the NGX’s strong run earlier in the year. While the headline FPI decline appears negative, its impact on overall market performance has been notably cushioned by resilient domestic participation. November trading patterns showed that reduced foreign inflows…
Eunisell Extends Bullish Run, Reinforces High-Conviction Status Eunisell sustained its strong bullish momentum at the December 30, 2025 trading session, further consolidating its position as a high-conviction equity within growth-oriented portfolios. The stock’s continued advance reflects deepening investor confidence, underpinned by its perceived market potential, resilient fundamentals, and a relatively tight free float, despite an outstanding share base of 236.7 million units. During the session, Eunisell recorded a decisive upside breakout, rallying to a fresh all-time and 52-week high of N105.90 per share. This represented a robust single-day gain of N9.20 from an intraday low of N96.70, highlighting strong demand…
Oando Defies Recent Weakness with Santa Claus Rally Oando Plc delivered a notable turnaround in trading performance on Tuesday, December 30, breaking a streak of subdued sessions with a surprise Santa Claus rally that caught market watchers’ attention. After several days of downward movement and muted trading activity, the stock rebounded strongly, reflecting a renewed wave of investor interest. During the session, Oando gained N1.95, advancing from its opening price of N38.05 to close at N40.00. This performance represents a solid recovery and positioned the stock firmly in positive territory for the day. Although the closing price remained marginally below…
Otedola Exits Geregu Power in $750 Million Deal Billionaire investor Femi Otedola has executed a decisive exit from Geregu Power Plc in a landmark transaction valued at approximately $750 million, marking one of the largest private divestments in Nigeria’s power sector and a pivotal shift in the company’s ultimate ownership structure. According to disclosures filed on the Nigerian Exchange (NGX), the transaction was completed through the sale of Otedola’s 95 percent stake in Amperion Power Distribution Company Limited to MA’AM Energy Limited. Amperion is Geregu Power’s majority shareholder, and the deal effectively transfers the ultimate beneficial ownership of 77 percent…
Nigeria Capital Market Masterplan 2.0: Catalysing Growth Through Strategic Alignment Nigeria’s Capital Market Masterplan (CMMP) 2.0 represents a timely recalibration of the capital market’s role in national economic transformation. Designed to succeed the foundational gains of the first Masterplan, CMMP 2.0 is explicitly aligned with the National Development Plan (NDP), reinforcing the market’s function as a critical engine for accelerated economic activity, inclusive growth, and long-term competitiveness. At its core, CMMP 2.0 recognises that Nigeria’s development ambitions industrialisation, infrastructure expansion, job creation, and economic diversification can not be sustainably financed through fiscal resources and bank credit alone. The Masterplan, therefore,…
NGX Trade Engine Delivers Standout Performance The Nigerian Exchange (NGX) closed the latest session firmly in positive territory, with the All-Share Index (ASI) settling at 153,539.83 basis points, underscoring a resilient trade engine amid sustained investor appetite. Market breadth remained constructive, liquidity improved, and price discovery was efficient, which signals that confidence is deepening even as macro and regulatory headwinds persist. The tone of trading reflected selective accumulation rather than speculative excess, with investors gravitating toward fundamentally strong stocks. The year 2025 has been shaping up as the Nigerian stock market’s strongest since 2020. As of December 24, the NGX…
BUA Foods Delivers 80% Gain Year-to- Date With 80% gain from the beginning of the year to date, BUA Foods Plc remains one of Nigeria’s most valuable listed consumer staples companies, underpinned by scale, cost leadership, and strong execution across its core food segments. Current market performance increasingly reflects the company’s intrinsic value, supported by earnings visibility, improving operating efficiency, and a resilient demand outlook. Analyst forecasts indicate that BUA Foods is on course to more than double revenue in the current financial year, consistent with its medium-term strategic growth plans. The earnings trajectory toward Q4 2025 is expected to…
Volatility as the World’s Most Traded Currency Volatility is no longer a condition of markets; it is the market. It transcends borders, asset classes, and economies, functioning like a real global currency that reprices value, redirects capital, and reshapes trends in real time. It is not anchored to any single nation or benchmark. It circulates everywhere. This is not a Nigeria-specific phenomenon. It is global, structural, and persistent, driven by shifting geopolitics, fragmented supply chains, technological acceleration, policy uncertainty, and rapid information flow. Prices no longer move solely on fundamentals; they move on expectations, narratives, and speed. In such an…
Nigerian Banks Flood CBN with N3.7 Trillion Excess Cash Nigerian commercial banks ended the pre-Christmas period with an unusually large liquidity overhang, depositing an estimated N3.7 trillion with the Central Bank of Nigeria (CBN) through its Standing Deposit Facility (SDF) on December 24. This represents one of the highest single-day SDF placements in recent months and underscores the scale of excess cash in the banking system. Financial data from the CBN covering December 22 to 24, 2025, show a sharp and rapid build-up of idle funds in the days leading up to Christmas. The surge came despite the CBN’s attempt…