Headlines news.

Investors Gain N144.04bn WoW as NGXASI Inches up by 0.66%, Closes Above 42,000bpts

Equities market closed on a positive note, as NGXASI appreciated by +0.18% to close at 42,038.6 basis points as against +0.41% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at +4.39%.   

Market breadth closed positive as GUINNESS led 30 Gainers as against 18 Losers topped by REGALINS at the end of today’s session – an improved performance when compared with previous outlook.         

Market turnover closes positive as volume moved up by +102.14% as against +96.38% uptick recorded in the previous session. ETERNA, FBNH and TRANSCORP were the most active to boost market turnover.  ETERNA and FBNH topped market value list.

ETERNA leads the list of active stocks that recorded impressive volume spike at the end of today’s session.


Private hospitals get approval to charge N6,000 for Covid-19 vaccine

Private hospitals in Lagos will now charge N6,000 for COVID-19 vaccines as the state government approves the rate on those seeking protection against the deadly pandemic outside its facilities. Although the vaccines will remain free under all state-controlled facilities, Babajide Sanwo-Olu, the Lagos State.

COP26 Climate Change: Developed countries to mobilise $100bn yearly

The 2021 Conference of the Parties also called the COP 26 is expected to mobilise developed countries to raise $100 billion annually to tackle climate change globally. Catriona Laing, British High Commissioner, made this known on Thursday during her opening remarks at the COP26 press conference in Abuja. 

All travellers must be fully vaccinated to fly into US – US govt

Beginning on November 8, the United States of America has asked that foreign national air travellers to the United States will be required – with only limited exceptions– to be fully vaccinated and to provide proof of vaccination status before boarding an airplane to fly to the United States.

We were told we were not welcome at UN climate talks – Shell CEO

Royal Dutch Shell will be absent at this year’s United Nations climate change Conference of the Parties (COP26) talks in Glasgow, after being told it would not be welcome, the company’s chief executive Ben Van Beurden admitted. The Anglo-Dutch energy group, which is one of the world’s biggest polluters but has.

Private funds in fresh bid to reverse Nigeria’s $1.5bn medical tourism

Investors are increasingly taking rare bets on Nigeria’s healthcare sector as they eye a slice of the estimated $1.5 billion spent on medical tourism abroad yearly. The opportunity has been there for long but has been brought to the fore on the back of the COVID-19

Rising gas prices threaten domestic market growth

Recent uncontrollable northward movement in the Liquefied Petroleum Gas (LPG) market price curve is a major threat to the domestic LPG market. Shina Luwoye, CEO of Ecogas Energy Resources Limited, stated this at a press briefing.

‘85m Nigerians do not have access to electricity’

The group managing director (GMD) of the Nigerian National Petroleum Corporation (NNPC), Mele Kyari, at the Energy Sustainability Conference (ESC) hosted by Energy Institute, Nigeria, in partnership with Department for International Trade, UK, said 85 million Nigerians do not have access to electricity.

Deregulation of downstream sector will save Nigeria N12trn in four years – PPMC

The managing director, Petroleum Products Marketing Company (PPMC), Isiyaku Abdullahi, says the full deregulation of Nigeria’s downstream sector will save the country an estimated N12 trillion within the next four years

Bad governance, poor infrastructure denying manufacturers of AfCFTA benefits – MAN

Manufacturers Association of Nigeria says bad governance and the lack of critical infrastructure in Nigeria are the biggest challenges facing the sector and could deny manufacturers of competing favourably under the Africa Continental Free Trade Area Agreement (AFCFTA).

SEPLAT Reports N13.9bn Profit in Q3 2021 Results, Proposes $2.5cents Interim Dividend

Seplat Energy Plc released its Q3 2021 Unaudited results for the period ended September 30th, 2021.

 Key Highlights

  • Revenue grew by 35% to N183bn from N136bn in the previous quarter.
  • Profit before tax stood at N38.6bn.
  • Profit after tax stood at N13.9bn.
  • Net Assets grew by 6.7% from N632bn to N675bn.
  • Share Price Currently Stands at N731:50k

Q3 UNAUDITED REPORT FOR THE PERIOD ENDED 30 SEPT

 2021 N’m2020 N’m% Change
 SEPTSEPT 
Revenue182,677135,62234.7%
PBT38,629(45,487)184.9%
Taxation(24,733)11,805-309.5%
PAT13,896(33,682)141.3%
Basic EPS45.16(35.12)228.6%
                             Balance Sheet Information
Net Asset674,546632,3376.7%
Corporate Declaration
Proposed dividend         $0.025
Qualification date           15-Nov-21
Payment date                 15-Nov-21
Closure Date                   16-Nov-21
 

Persistent Inflationary Pressures, Stretched Pockets

The latest inflation report released by the National Bureau of Statistics (NBS) shows the sixth consecutive y/y decline in headline inflation to 16.63% in September from 17.01% in August. 

Allocation: FG, States, LGs Share N740bn, NNPC to Deduct N163.73bn in Nov

 The Federation Accounts Allocation Committee shared a total of N739.96bn among the three tiers of government for the month of September. This was contained in a communique issued at the end of a virtual meeting of the committee for October, a statement from the Office of the Accountant General released on Thursday revealed. 

BPE Inaugurates Committee on Concessioning of Small Hydro Plants

The Director General of the Bureau of Public Enterprises (BPE), Mr. Alex Okoh, has inaugurated a 13-member committee for the concessioning of 12 small hydro plants in the country. 

International Breweries Plc Reports N128.4bn Revenue in Q3 2021 Results,(SP:N5.15k)

International Breweries Plc released its Q3 2021 Unaudited results for the period ended September 30th, 2021.

Key Highlights

  • Revenue grew by 34% to N128bn from N96bn in the previous quarter.
  • Loss before tax stood at N17.5bn.
  • Loss after tax stood at N13.5bn.
  • Net Assets declined by -6.2% from N152bn to N142bn.
  • Share Price Currently Stands at N5:15k

Q3 UNAUDITED REPORT FOR THE PERIOD ENDED 30 SEPT

 2021 N’m2020 N’m% Change
 SEPTSEPT 
Revenue128,39695,76834.07%
PBT(17,509)(17,720)-1.19%
Taxation3,9896,843-41.71%
PAT(13.520)(10,877)24.30%
Basic EPS(1)(0)25.00%
                             Balance Sheet Information
Net Asset142,316151,734-6.2%

Wema Bank Plc Reports N6.2bn PAT in Q3 2021 Results, (SP:N0.74k)

Wema Bank Plc released its Q3 2021 Unaudited results for the period ended September 30th, 2021.

Key Highlights

  • Gross Earnings grew by 9% to N63bn from N58bn in the previous quarter.
  • Profit before tax grew by 136% to N7.2bn.
  • Profit after tax grew by 136% to N6.2bn.
  • Net Assets grew by 7.8% from N59bn to N64bn.
  • Share Price Currently Stands at N0:74k

Q3 UNAUDITED REPORT FOR THE PERIOD ENDED 30 SEPT

 2021 N’m2020 N’m% Change
 SEPTSEPT 
Gross Earnings63,07757,8259.1%
Interest Income51,55046,39611.1%
PBT7,2093,057135.8%
Income Tax Expense(973.857)3,057-131.9%
PAT6,2352,645135.7%
EPS21.69.2134.8%
                             Balance Sheet Information
Net Asset63,73759,1427.8%

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First Ideas Limited is an investment and financial advisory company established in 1994 to provide advisory services to high net worth individuals, trust funds, financial institutions and medium sized companies in growth sectors.

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