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
Dangote Refinery Laying Groundwork for Landmark Public Offers As plans for the eventual public listing of Dangote Refinery take clearer shape, the signals emerging from the group point to a carefully sequenced capital-markets strategy rather than a rushed flotation. The reported consideration of British executive David Bird as a possible chief executive underscores this intent: institutionalising governance, deepening operational credibility, and aligning the $20 billion refinery with the expectations of global portfolio capital ahead of its debut on the Nigerian Exchange (NGX). From an investor’s standpoint, the refinery represents an asset of uncommon scale and strategic relevance. With current installed…
Morison Industries Extends 3-Day Rally Amidst Earnings Pressure Morison Industries Plc extended its upward trajectory for the third consecutive session, as renewed buying interest and improving sentiment around its fundamentals continued to fuel demand. The stock sustained notable momentum throughout the week, closing strongly and edging closer to its 52-week high, reinforcing bullish undertones in the near term. The stock opened at N4.27 on Friday against the backdrop of continued positive movement. Intraday trading was largely bullish, with Morison gaining 0.42 kobo to finish the session at N4.69, rounding off the week with strong market participation. On a trend basis,…
Nigeria’s Digital Transformation: Building a Resilient, Inclusive, and Future-Ready Economy Nigeria’s long-term economic competitiveness increasingly hinges on its capacity to harness digital technologies as engines of productivity, innovation, and shared prosperity. In a global economy where the wealth of nations flows from the technologies they master, Nigeria’s commitment to digital transformation signals both an economic imperative and a strategic repositioning. Digitalisation is not just an upgrade, it is fast becoming the backbone of national development, shaping how Nigerians learn, trade, innovate, govern, and connect with the world. The European Union’s recent announcement of a €45 million investment under the EU–Nigeria…
PZ’s Strategic Re-Orientation Catalyses Renewed Market Confidence In a dramatic reversal of its previously declared Africa exit strategy, PZ Cussons Plc has officially scrapped plans to divest its African subsidiaries. A decision first signalled during its 2024 strategic review opting instead to retain and expand its operations across key markets in Nigeria, Kenya, and Ghana. The board’s revised position underscores renewed confidence in improving economic fundamentals and more stable currency dynamics in Nigeria, which have materially reshaped the company’s risk-reward calculus. Initially, the Group contemplated a full or partial sale of its African business amid macroeconomic headwinds particularly FX volatility,…
Nigeria’s Trade Momentum Signposts Strengthening Economic Recovery Nigeria’s total merchandise trade surged to N38.9 trillion in Q3 2025, according to fresh data from the National Bureau of Statistics. The figure marks a significant milestone in the country’s post-pandemic economic recalibration and underscores the resilience of Africa’s largest economy amid ongoing structural reforms. The latest trade value represents an 8.71% increase from the N35.8 trillion recorded in the same period of 2024 and a 2.36% expansion relative to N38.04 trillion posted in Q2 2025. This upward momentum highlights not only improved trade flows but also strengthening domestic output capacity and rising…
Geregu Q1 Earnings Forecast Signals Momentum, Valuation Case Geregu Power Plc has released its financial projections for the first quarter of 2026 (January-March), providing a clear picture of what management expects to deliver as the company enters the new financial year. The outlook is anchored on stable operations, disciplined cost management, and a strengthening liquidity position, which is a key pillar that continues to define Geregu’s strategy within Nigeria’s power generation space. Management projects total revenue of N57.1 billion, driven predominantly by energy sales and capacity charges. This underscores sustained operational uptime and improved dispatch levels, reflecting sector reforms and…
Zenith Bank: Investors Hold Position Amidst Marginal Dip Zenith Bank Plc traded in a tight band in today’s session as investors continued to accumulate the stock despite intermittent share-price swings driven largely by profit-taking. The counter showed notable intraday resilience but eventually slipped into negative territory, shedding 0.05 kobo to close at N64.45, down from an opening price of N64.50. This mild decline pushed the stock modestly down the losers’ chart, though sentiment around the tier-1 lender remains broadly constructive. At its current price, Zenith still trades below both its 50-day moving average of N63.83 and a considerable distance from…
MeCure: Sustaining Momentum on Strong Fundamentals, Renewed FX Tailwinds MeCure Industries Plc continues to ride a smooth upward trajectory on the Nigerian Exchange, buoyed by easing foreign exchange constraints, recently liberalised import access for essential medical equipment, and a resilient operational performance. The company has maintained strong investor appeal, with market participants increasingly positioning on the back of strengthened confidence in the pharmaceutical manufacturer’s growth strategy and execution capacity. The stock sustained an upward close in its latest trading session, opening at N29.80 and gaining N2.60 to finish at N32.40 per share. This positions the equity comfortably above its 50-day…
Oando: Undervalued Giant Poised for Comeback, Investors Await Strategic Reset Oando Plc traded under a cloud of cautious sentiment on Tuesday, December 9, as investors continued to discount the stock relative to its intrinsic value and competitive positioning within the downstream and integrated energy space. Despite its robust asset base and expanding operational footprint, the market’s tepid enthusiasm reflects lingering uncertainty surrounding management’s strategic direction, particularly the anticipated capital-raising exercise tied to ongoing debt-restructuring efforts. During today’s session, Oando managed to remain on the gainers’ chart, advancing by 0.85% to close at N39.85 per share after opening at N39.00. Trading…
NGX Reclassifies Lafarge, Guinness into High-Priced Stock Class The Nigerian Exchange (NGX) has announced the reclassification of WAPCO Plc and Guinness Nigeria Plc from the Medium-Priced to the High-Priced Stock Group, following a review of their trading patterns and price performance over the most recent six-month period. Under the NGX Pricing Methodology framework, a security must trade within a defined price band for at least four out of six months to qualify for a category. Both counters met this requirement, triggering an upward reclassification and an adjustment in tick size from N0.05 to N0.10, in accordance with Rule 15.29 of…