Govt Expecting One Million MT Steel From $1.5bn Steel Plant
The Federal Government has said that the $1.5bn steel plant that is nearing completion in Kaduna State will attract automobile industries to Nigeria when...
External debts rises in sub-Saharan Africa as Nigeria and South Africa tops the list.
Within the G-20 creditor group, there have been some important shifts characterized by a marked increase in lending by G-20 member countries that are themselves middle-income...
Nigerian Equity Market: Stock Recommendations for the Week (19/10/2020 – 23/10/2020)
Stocks defy protest, extends bullish run
The local bourse closed the week on a positive note, as late buying interests seen on Friday offset...
Flour Mills of Nigeria – FX challenges shrink margins, Earnings growth undeterred
Flour Mills Revenue has shown quite impressive growth in the first quarter (+15% y/y, ₦169.3 billion). We believe that the company is starting to...
Guinness Nigeria Renewed demand strength to prop Revenue in Q1
Guinness Nigeria had a very tough close to its FY’20, dealing with weak demand in the last quarter as well as significant impairments in...
Nestle Nigeria – Beverage to outpace Food Revenue Growth
We expect Nestle Nigeria’s 9M’20 revenue to dip 0.6% y/y to ₦211.3 billion. Although we expect Revenue from Beverages to sustain its current growth...
Ardova – Cost efficiency to support bottom line in Q3
Like other oil marketers, we expect recoveries in fuel demand and PMS price increases to drive Ardova’s Q3 fuel turnover to f448.3 billion (up...
Presco – Another impressive quarter expected in Q3
Supported by higher CPO prices due to the continued land border closure and improved demand caused by increased adherence to proper hygiene practices, Presco...
Okomu Oil Palm On track for a Record FY’20
Like Presco, Okomu Oil Palm has benefitted immensely from the FG directive to close the land borders in order to reduce the incidence of...
Unilever Nigeria – Earnings slide expected despite Revenue rebound
Despite its earlier woes over the past year, Unilever Nigeria managed to post a decent recovery in the first half of the year –...
Nigerian Breweries – Mild Earnings upswing hinged on increased volume roll-out
Despite the price increases that had been implemented at the start of the year to combat the effect of increasing inflation, excise duties and...
Lafarge Africa Gradually regaining lost ground
Following the exit of LSAH (South African Business) in Q3’19, Lafarge Africa’s performance has been on a gradual recovery in 2020. So far, while...