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Why it makes sense to invest in foreign equities from Nigeria

Get great advice and stock recommendations when you subscribe to Nairametrics Stock Select Newsletter.

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The Nigerian stock market closed on a high of 14.27% in November, the best month to date return since January 2018, when the market closed at 16%.

One of the major challenges of the Nigerian stock exchange is the lack of liquidity and its status as a very shallow market. There are about 166 stocks in the market, out of which less than 100 are tradeable daily.

Included in this 100 are about 50 odd stocks that often deliver on profits and dividends, which is why some retail investors in Nigeria have started investing in stocks in the United States.

The New York Stock Exchange (NYSE) has about 2,800 companies listed, while the NASDAQ has about 3,300 stocks listed. This gives investors in this market numerous options where they can put their money. It is also why the US economy attracts billions of dollars in portfolio investments annually.

The London Stock Exchange in the United Kingdom lists about 2,600 companies from 60 different countries including Nigeria. It is one of the most recognized exchanges in the world, with trades worth trillions of dollars worth passing through it daily.

For information on how to invest in stocks listed on the NYSE and NASDAQ, with a summary profile of some of the popular applications to use like Trove, Bamboo, and Chaka, and how to register and trade with these applications are explained in this week’s SSN.

Also, the list of some stocks Ugodre Obi-Chukwu has purchased recently and why he bought the stocks are all in this week’s SSN.

For details, subscribe to Nairametrics Stock Select Newsletter. Every week we recommend stocks with solid fundamentals with the potential to deliver great returns.

Subscribe to Nairametrics Stock Select Newsletter here

 

Disclaimer

There is a wealth of information that should help decide whether you should buy a stock or not and how long you can hold on to it. Our recommendation is based on the information we currently have and is wholly the opinion of Ugodre Obi-Chukwu. 

Nairametrics does not own some of the stocks recommended and may not purchase them despite including them in our Stock Select Portfolio. Ugodre does not also own all the stocks he recommends. 

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This newsletter is an investment guide and as such, you should conduct extra analysis before deciding whether to buy, sell or hold a stock. The decision to buy, sell or hold a stock is solely yours.

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Nairametrics is Nigeria's top business news and financial analysis website. We focus on providing resources that help small businesses and retail investors make better investing decisions. Nairametrics is updated daily by a team of professionals. Post updated as "Nairametrics" are published by our Editorial Board.

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Energy

LNG boss tasks FG to begin the monetization of Nigeria’s gas

Mr Attah has urged the FG to take the gas sector more seriously as the future of Nigeria’s energy lies with it.

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The MD and CEO of Nigeria LNG Limited Mr. Tony Attah has tasked the Federal Government to begin the revamping and monetization of the Gas sector in Nigeria.

He made this statement while making his presentation at the 2nd virtual Nigerian Gas Association (NGA) Industry Multilogues, with the theme: “Powering Forward, Enabling Nigeria’s Industrialization via Gas.”

Mr. Tony Attah drew the attention of the audience to the hidden treasure in the Nigerian Gas industry which he believes is not getting enough attention from the government.

On the future of gas as an alternative energy source, Mr. Attah stated that the developed world is already keying into gas as an alternative to crude oil. Gas has proven to be a cleaner and more sustainable alternative.

He exclaimed that Nigeria is very rich in gas and yet poor in energy. Nigeria is the 9th country with the largest gas reserves in the world but makes very little use of it.

Mr. Attah went further to paint a clear picture of the promise of investing in gas using the success achieved by Qatar. Qatar is currently the largest LNG exporter in the world.

We just touched on a quick case study of Qatar. Someone mentioned Qatar already from a poor fishing country to a gas giant and it took just 10 years, which is why we, as Nigeria LNG, firmly believe in the conversation and the narrative about the declaration of the decade of gas.

“We believe it is possible. If you look at Qatar from 1995, when they really went into gas development, we were just two years behind Qatar. So, Qatar’s first LNG was in 1997.

Nigeria’s first LNG was in 1999, just two years behind. But then, within 10 years, because of the deliberateness of the government and focus on gas, they have gone to 77 million tonnes and we are at best, 22 million tonnes,” Attah said.

Mr. Attah stressed further the importance of the gas sector in Nigeria’s future. He recalled that the Nigerian Government declared 2021-2030 as the decade of gas. He pleaded with the government to take the sector more seriously as the future of Nigeria’s energy lies with it.

Gas is the future. That future is now, and just as the Minister of State has made us to realize, gas is food in fertilizer. Gas is transport as you saw in the Auto gas project that was declared.

Gas is life, as a matter of fact, for cooking, for heating, for existence. Gas is development in manufacturing, gas is power. Gas is everything. “We think it’s time for gas. It’s time for Nigeria to diversify and that is why we fully support the decade of gas,” he said.

What you should know

  • Early last year, the director of the Department of Petroleum Resources (DPR) Mr Sarki Auwalu confirmed that Nigeria’s proven gas reserve stood at 203.16 trillion cubic feet.
  • Nigeria has the 9th largest gas reserves in the world. It is also the 6th largest exporter of gas.
  • The Federal Government declared the year 2021–2030 as the “Year of the Gas“. It pledged to finally kick start the development and commercialization of Nigeria’s huge gas reserves.

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Obituaries

Ex-Diamond Bank chairman, Seyi Bickersteth is dead

The death has been announced of Seyi Bickersteth, a former chairman of Diamond Bank Board of Directors.

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Erstwhile chairman of Diamond Bank Board of Directors, Mr. Seyi Bickersteth is dead.

According to multiple sources, Mr Bickersteth was found dead in his Ikoyi apartment. The cause of his death is yet to be unravelled as at the time of reporting this.

Until his death, Mr Bickersteth was a Regional Managing Partner and Chairman of Andersen Tax, Africa. According to his LinkedIn profile, he started his career at Arthur Andersen as a partner and rose through the echelons to his most recent position, in a career that spanned over forty years.

Mr Bickersteth is an alumnus of the famous University of Ibadan and York University, Canada where he obtained a Bachelor`s and Masters’ degrees in Economics respectively. He is a fellow of the Institute of Chartered Accountants of Nigeria (FCA) and Chartered Institute of Taxation of Nigeria (FCTI).

Mr Bickersteth was most remembered for his pioneering role as a team leader of Arthur Anderson team in the 1988 International Merchant Bank (IMB) restructuring exercise. He served in various leadership positions and Boards in top firms like; KPMG, ARM and the defunct Diamond Bank.

Nairametrics had earlier reported the resignation of Mr Bickersteth from the Board of Diamond Bank in 2018.

Details of his burial and other relevant information will be subsequently communicated.

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