Author: Gilbert Ayoola

Build Like Rome, Don’t Blow Up Like Hiroshima -Rethinking Nigerian Stock Market Momentum When we talk about the Nigerian stock market, we often reach for numbers: All Share Index, P/E ratios, dividend yields, etc. But beyond the charts and tickers, there’s a philosophy quietly shaping investor outcomes: build like Rome, don’t blow up like Hiroshima. The idea is simple but powerful. Rome represents patience, strategy, and strong foundations an investor’s ideal. Hiroshima, on the other hand, is the cautionary tale rapid build-up, unmeasured speculation, and sudden collapse. As the Nigerian Exchange (NGX) navigates 2025, this metaphor becomes increasingly relevant. Between…

Transcorp Hotels Interim Dividend Signals Confidence, But Is the Stock a BUY at N142.40? Transcorp Hotels Plc has recently declared an interim dividend of 10 kobo per share for the half-year ended June 30, 2025. This marks a strategic signal of operational resilience in a macro environment still grappling with inflationary pressures and FX volatility. However, investors and analysts alike are now asking a critical question: does the current share price of N142.40, which has remained flat for over 5-6 weeks, represent a fair valuation of the company? Let’s delve into the numbers and market context to assess whether Transcorp…

SEC Elaborates on ‘No Objection’ Approval for First Holdco Share Sale The Securities and Exchange Commission (SEC) Nigeria has issued a formal clarification to educate stakeholders and the investing public on the rationale behind its recent issuance of a “No Objection” notice concerning the sale of shares in First Holdco Plc, the parent company of First Bank of Nigeria Limited. The clarification, published in national media, underscores the Commission’s commitment to regulatory transparency, market integrity, and investor protection, particularly in the context of high-profile and large-volume equity transactions. Understanding the “No Objection” Framework In Nigeria’s capital market regulatory landscape, a…

Dangote Sugar Delivers Robust Top-Line Growth Amidst Cost Pressures in H1 2025 Dangote Sugar Refinery (DSR) has reported a remarkable top-line performance in its Consolidated and Separate Financial Statements for the half-year period ended June 30, 2025. Revenue soared to N430.2 billion for H1 2025, reflecting a substantial year-on-year growth of 45.5% from N295.6 billion in H1 2024. This impressive expansion is attributed to enhanced production volumes, improved distribution efficiency, and higher market penetration across key consumer segments. In Q2 alone, the company delivered revenue of N216.3 billion, up from N172.9 billion in the corresponding quarter of 2024 — underscoring…

Okomu Oil’s Quiet Storm – A Plateau Before the Next Peak? As we ride the rippling waves of the Nigerian equities market, all eyes are on Okomu Oil Palm Plc, a steady titan in the agric-commodities space, whose recent price behaviour has piqued both curiosity and confidence. Following a robust rally that catapulted the stock to an impressive 52-week high of N930 per share, the share price has now entered a contemplative pause — holding steady at its peak for several trading sessions. But make no mistake to what may seem like still waters on the surface is anything but…

Lafarge Africa Q2 2025: A Resilient Growth Story Backed by Sound Fundamentals Lafarge Africa’s Q2 2025 financial results have firmly underscored its growing leadership in Nigeria’s building materials sector, with an exceptional performance that not only exceeded expectations but also lays the groundwork for sustained investor confidence and potential price appreciation. The company posted N269 billion in revenue, reflecting a 70% year-on-year surge, powered by strong cement volumes, price optimisation, and operational resilience. More impressively, operating profit leapt 153% to N120.6 billion, with an operating margin of 45%, up from 30% in Q2 2024. Profit after tax rose by a…

Investment Outlook: Reading Between the Value Metrics In an era where capital efficiency, earnings resilience, and top-line momentum increasingly define long-term winners, valuation metrics provide crucial breadcrumbs for investors seeking alpha. A recent snapshot comparing two publicly traded firms—let’s focus on Presco and its peer offers telling insights that speak volumes beyond the surface-level figures. Let’s dig into the key metrics that deserve investor attention: share price, earnings per share (EPS), and top-line (revenue) growth with a spotlight on Presco. Presco’s current stock price trading around N1,500 per share isn’t just a round number—it’s a strong psychological and financial signal.…

Banking Stocks Fuel Intraday Rally on NGX, Index Rises Fueled by banking stocks, the Nigerian equities market maintained its bullish momentum during the intraday trading session on Thursday, extending gains on the back of strong investor confidence and renewed appetite in key sectors. Market sentiment remained broadly positive, as both blue-chip and mid-tier stocks witnessed significant buying pressure, pushing the Nigerian Exchange All-Share Index (ASI) further into record territory. As of the midday bell, the NGX All-Share Index surged by 1.80%, gaining 128,967.08 basis points to consolidate its recent breakout above critical psychological thresholds. The rally is largely supported by…

UPDC Plc: Undervalued Real Estate Titan Poised for Re-Rating As we await the wave of half-year corporate earnings on the Nigerian Exchange (NGX), one stock deserving close investor scrutiny is UPDC Plc (N4.60/share)—a company slowly but decisively pivoting from its troubled past into a leaner, more strategically aligned real estate powerhouse. UPDC Nigeria’s long-standing property development firm has gradually reinvented itself over the past five years. Its turnaround is underpinned by: Revenue CAGR of 15.6% from 2018–2023 Q1 2025 revenue growth of 68% YoY, up from N1.3bn to N2.18bn Profit Before Tax surged to N704.6m (from N83.6m) Profit After Tax…

Bullish Momentum Propels Market to Uncharted Heights as Investor Sentiment Soars The Nigerian Exchange (NGX) is ablaze with unrelenting bullish energy, catapulting investor confidence to new highs and redrawing the boundaries of capital market performance in the first half of 2025. With only 129 trading days gone and six full months still ahead, the NGX has set the tone for what could be one of the most compelling full-year performances in recent history. This week, the market served up a spectacular rally that sent a clear message to investors—Nigeria’s capital market is on fire! On Friday, July 11, the NGX…