Investors Lose N19.80bn as NGXASI Dips by -0.09%, Erases Previous Day Gain
Equities market closed on a negative note, as NGXASI depreciated by -0.09% to close at 41,975.45 basis points as against +0.09% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at +4.23%.
Market breadth closed negative as MULTIVERSE led 13 Gainers as against 18 Losers topped by LASACO at the end of today’s session – an improved performance when compared with previous outlook.
Market turnover closes negative as volume moved down by -8.16% as against -15.65% downtick recorded in the previous session. FBNH, MULTIVERSE and MBENEFIT were the most active to boost market turnover. FBNH and WAPCO topped market value list.
UPDCREIT leads the list of active stocks that recorded impressive volume spike at the end of today’s session.
Dangote Cement, MTN, Airtel set to beat 2021 revenue target
Dangote Cement, MTN Nigeria and Airtel Africa, three of Nigeria’s largest companies by market value, are on course to surpass their internal earnings forecast in 2021, thanks to a stronger-than-expected performance in the first nine months of the year.
DMR ties Nigeria’s rising debt profile to weak revenue generation
Chairman of the Debt Management Roundtable (DMR), Taiwo Oyedele, has hinted that Nigeria’s unsustainable debt burden is fuelled by weak revenue generation. Oyedele, who was a panellist during a session on ‘Sustainable Approaches to Public Debt..
DMO to issue N250bn sovereign Sukuk, appoints transaction advisers
The Debt Management Office (DMO) has announced plans to issue fresh Sovereign Sukuk worth between N200 and N250 billion before year end to finance critical road projects across the country. This is the highest sum that the Nigerian government would be raising.
Nestlé S.A snaps up N17.5bn worth of Nigerian unit shares
The Switzerland-based Nestlé S.A, majority shareholders of Nestlé Nigeria Plc have bought about N17.5billion worth of the Nigerian unit’s shares in the past eight (8) months, BusinessDay analysis show.
Massive gas leakage creates panic in Ikeja
A massive gas leakage that occurred around computer village in Ikeja is creating panic with people advised to avoid using anything inflammable. Ibrahim Farinloye, the acting coordinator of the National Emergency Management Agency (NEMA) in the South-West confirmed the gas leakage and urge
Nigeria needs $1.5trn for infrastructure in ten years to bridge infrastructure gaps
President Muhammadu Buhari on Tuesday revealed that Nigeria requires 1.5 trillion dollars over ten years, to achieve an appreciable level of the National Infrastructure Stock. President Buhari speaking at a COP26 high-level side event on improving global infrastructure hosted by President Joe Biden
Majekodunmi faults govt, regulatory bodies’ over Ikoyi building collapse
David Majekodunmi, the state chairman of the Nigerian Institute of Architects, decried the lack of enforcement of building regulations by the government and regulatory bodies as the reason for the collapsed Ikoyi building
Tantalizers Plc Reports N180m year to date Loss in Q3 2021 Unaudited Report,(SP:N0.20k)
Tantalizers Plc released its Q3 2021 Unaudited report for the period ended September 30th, 2021.
Key Highlights of the nine months results
- Revenue grew by 16% to N1.8bn from N1.5bn.
- Loss before tax stood at -N180m.
- Loss after tax stood at -N180m.
- Net Assets declined by 69% from N289m to N88m.
- Share Price Currently Stands at N0:20k
9 MONTHS UNAUDITED REPORT FOR THE PERIOD ENDED 30 SEPT
| 2021 N’m | 2020 N’m | % Change | |
| SEPT | SEPT | ||
| Revenue | 1,757 | 1,510 | 16.36% |
| PBT | (180.422) | (245.003) | 26.36% |
| Taxation | – | – | – |
| PAT | (180.422) | (245.003) | 26.00% |
| Basic EPS | (6) | (8) | 25.00% |
| Balance Sheet Information | |||
| Net Asset | 88.31 | 288.74 | -69.42% |
Transcorp Hotels Plc Reports N742m PAT in Q3 2021,(SP:N5.38k)
Transcorp Hotels Plc released its Q3 2021 Unaudited report for the nine months ended September 30th, 2021.
Key Highlights
- Revenue grew by 115% to N14.6bn from N6.8bn in the previous year.
- Profit before tax stood at N745m.
- Profit after tax stood at N742m.
- Net Assets grew by 1.2% from N61bn to N62bn.
- Share Price Currently Stands at N5:38k
Q3 UNAUDITED REPORT FOR THE NINE MONTHS ENDED 30 SEPT
| 2021 N’m | 2020 N’m | % Change | |
| SEPT | SEPT | ||
| Revenue | 14,601 | 6,791 | 115.00% |
| PBT | 745 | -5,644 | |
| Taxation | -3.075 | – | – |
| PAT | 742 | -5,644 | |
| Balance Sheet Information | |||
| Net Asset | 61,845 | 61,103 | 1.2% |
A Modest Improvement in FAAC Distribution in October 2021
The gross monthly distribution by the Federation Account Allocation Committee (FAAC) distributed to the three tiers of government totalled NGN740bn (c.USD1.78bn) in October (from September revenue). The sum is an increase of NGN43bn on the previous month’s payout.
Don’t Hold You Breath for a Breakthrough at COP26 – OIR 021121
The start of the two-week COP26 summit in Glasgow has demonstrated how unlikely a comprehensive global deal is, highlighting divergences between the global south and north and between net energy producers and importers.
House of Reps will give Priority to Passage of CISIM Bill – Hon. Babangida Ibrahim
The House of Representatives will aggressively push for the passage of the Chartered Institute of Securities and Investment Management (CISIM) bill, as proposed by the Chartered Institute of Stockbrokers (CIS).
Is a More Hawkish Fed Good for Income Investors?
Income investing has just been getting harder and harder. The long-term downtrend in interest rates and bond yields means investors must be more creative and accept a higher level of risk to achieve income (or yield) close to 4%.
