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GTBank, Zenith Bank, WAPCO surge, investors gain N201 billion

The market breadth index was positive as WAPCO led the gainers’ list today, while VANLEER topped the laggards




Nigerian Stocks continued their upward trend as seen at the end of the Tuesday trading session.

The All Share Index recorded a 1.10% gain to close at 35,225.22 index points. Investors also gained N200.77 billion at the close of trading.

Consequently, market capitalization and year to date return settled at N17.78 trillion and 30.91% respectively. A total volume of 264.2million units of shares, valued at N2.94billion exchanged hands in 4,354 deals.

  • ACCESSBANK was the most traded shares by volume at 36.4million units, while ZENITHBANK topped by value at N538.6million
  • The market breadth index was positive with 28 gainers against 15 losers. WAPCO led the gainers’ list today, while VANLEER topped the laggards.
  • The sectorial performance was positive as the Insurance, Industrial, Banking, and Energy indexes advanced by +3.50%, +2.40%, +2.04%, and 0.42% respectively.
  • Conversely, the Consumer Goods index fell by -0.09%. Sector performance NSE Insurance Index: Up by +3.50%, on price appreciation in MANSARD (+9.38%) and AIICO (+4.35%).
  • NSE Industrial Index: Rose by +2.40% due to the gains in WAPCO (+7.14%) and DANGCEM (+3.72%).
  • NSE Banking Index: Advanced by +2.04%, on gains in ETI (+4.20%), ZENITHBANK (+3.98%), and GUARANTY (+1.67%).
  • NSE Oil & Gas Index: Improved by +0.42%, as JAPAULGOLD (+8.00%) and OANDO (+5.07%) closed north.
  • NSE Consumer Goods Index: Fell marginally by -0.09%, due to the price decline in INTBFREW (-3.09%).

Top gainers

  1. WAPCO up 7.14% to close at N22.5
  2. ZENITHBANK up 3.98% to close at N23.5
  3. DANGCEM up 3.72% to close at N195
  4. GUARANTY up 1.67% to close at N33.55
  5. GUINNESS up 1.98% to close at N18

Top losers

  1. VANLEER down 9.89% to close at N8.2
  2. REDSTAREX down 9.76% to close at N3.05
  3. FCMB down 4.97% to close at N2.87
  4. INTBREW down 3.09% to close at N6.27
  5. ARDOVA down 1.23% to close at N12.05

Nigerian bourse continued its bullish run amid Nigeria’s latest inflation figure revealing the highest rate recorded in 34 months since January 2018, when the rate stood at 15.13%.

  • Bulls seem to be rallying high amid soaring optimism from institutional investors, and high buying pressure noticed in many Nigerian blue-chip stocks that include Dangote Cement, WAPCO, Zenith Bank, and GTBank.
  • However, Nairametrics expects you to seek the advice of a certified stockbroker when choosing stocks to buy, as some of these stocks exhibit cyclic returns in principle.


Olumide Adesina is a France-born Nigerian. He is a Certified Investment Trader, with more than 15 years of working expertise in Investment trading. Message Olumide on Twitter @tokunboadesina. He is a Member of the Chartered Financial Analyst Society.

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Billionaire Watch

There are only 15 black billionaires in the world, here are the top 10

Three of the top ten richest black men in the world are Nigerians who made a huge percentage of their money from the Nigerian market.




Have you ever wondered how many black people in the world have a net worth of 1 billion dollars and above? Well, there are just 15. Black people make up less than 1% of all billionaires in the world according to Visual Capitalist.

According to the latest Forbes list of the world’s billionaires, there are 2,755 billionaires in the world and there are just 15 blacks amongst them. Here is a quick list of who they are and what they do.

Michael Jordan ( $1.6bn )

Michael Jordan is an NBA all-star great who made his fortune by landing lucrative deals with Nike for the world-famous Jordan Sneakers. He also has a couple of other investments but the Nike deal is the elephant in the room.

READ: 3 unbelievable facts about Warren Buffet, the world’s smartest investor

Kanye West ($1.8bn)

The controversial musician and fashion mogul made the headlines recently for his richest black man in history claim. His biggest business move was a lucrative apparel deal with Adidas which propelled his net worth to $1.8bn. His net worth is expected to grow in the coming years with another lucrative GAP deal in the bag.

Alexander Karp ($2bn)


African American IT Billionaire is the co-founder and CEO of data-mining firm Palantir Technologies, which received early backing from CIA investment arm, In-Q-Tel. His company works for top government bodies which include the CIA and the FBI. He identifies as a White American but his mother is African American making him a mixed race.


READ: Fintech: Ex-Google employee becomes billionaire in 24 hours

Oprah Winfrey ($2.6bn )

Oprah Winfrey is the only woman on the list. She made her fortune hosting a 25-year-old hit show which she successfully turned into a media empire. She also launched her own cable channel where she owns 25.5%. Oprah Winfrey’s strongest asset is her brand which she has built and honed over the years.

Patrice Mosepe ( $3.1bn )

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Patrice Motsepe is the richest black man in South Africa and the CEO of African Rainbow Minerals. He was the first black man to become a billionaire on the Forbes list. He bought low-priced mining shaft and made them profitable. He is also a sports investor owning one of South Africa’s top Football Clubs, Mamelodi Sundowns FC.

READ: Dangote set to earn N13 billion in dividend from his sugar business

David Stewart ( $3.7bn )

The IT mogul’s company World Wide Technology is worth over $12bn with big clients like Verizon, Citi bank and the Government. The company provides digital strategy, innovative technology and supply chain solutions to large public and private organizations around the globe.

Abdulsamad Rabiu ($4.8bn)

The Nigerian business Mogul owns a staggering 98.5% of BUA Cement. He is also the Chairman of BUA Group, a Nigerian conglomerate with large investments in cement production, real estate and sugar refining. He seems to be keeping close tabs on Aliko Dangote and recently had a brief squabble with him.

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Robert F. Smith ( $5.2bn )

Robert F. Smith is the founder of one of the best performing private equity firms in the world. He founded Vista Equity Partners in 2000 which has over $50bn in assets. The company has perfected the art of investing in software companies that go on to do well. Robert F. Smith however has a little dent in Tax evasion cases with the US Government.

READ: Nigerians dominate Forbes’ black billionaires list

Mike Adenuga ( $6.2bn )


The second richest man in Nigeria is also the second richest black man in the world. The telecommunication and oil mogul is the arrowhead behind two of Nigeria’s foremost Companies Globacom and Conoil. Globacom has 55 million subscribers while Conoil operates 6 oil wells.

Aliko Dangote ( $11.5bn )

The richest black man in Nigeria, Africa and the world makes the majority of his fortune from his cement brand which is the largest in Africa. Alhaji Dangote owns an 85% stake in his publicly-traded company.

He is also into Salt and Sugar manufacturing and is currently building the largest crude oil refinery in Africa.

What you should know

  • There are 15 black billionaires in the world and we just highlighted the top 10.
  • Out of the 2,755 billionaires in the world, only 15 are black.
  • The first, second and the fourth richest men are all Nigerians and they made a huge percentage of their money from the Nigerian market.

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Super League: Is an African Super League feasible?

The Super League structure which has failed in Europe may be the catalyst needed to save African football.




The European Football scene was hit early this week with news of the European Super League announcement, with 12 teams from 3 European nations, namely England, Spain, and Italy confirming their participation, with no representatives from Germany and France.

The founding teams were AC Milan, Arsenal, Atlético de Madrid, Chelsea, FC Barcelona, FC Internazionale Milano, Juventus, Liverpool, Manchester City, Manchester United, Real Madrid and Tottenham Hotspur.

The league, which would have hosted Europe’s richest clubs except for Bayern and Dortmund, got news of a financial boost as JP Morgan Chase, a US investment bank, also announced on Monday that it is funding the new season of the breakout league, the European Super League in a €4 billion ($4.8 billion) bet. The teams in the league were expected to share €3.5 billion ($4.21 billion) to spend on infrastructure and rehabilitation from the COVID-19 pandemic by a private corporation that will own the league.

READ: Billionaire, Uzor Kalu wants to buy 35% stake in Arsenal FC

However, by Tuesday evening, the Super League was pretty much dead, as the announcements precipitated anger from fans, footballers, ex-players and pundits all calling for the idea of a Super League to be killed. Later that evening, all six English clubs announced their withdrawal from the breakaway European Super League following protests and furious condemnations from the football community including football’s governing bodies.

Arsenal apologised for their ‘mistake’ saying: “As a result of listening to you and the wider football community over recent days we are withdrawing from the proposed Super League. We made a mistake, and we apologise for it.”

The European Super League idea failed because football is not only a sport in Europe, it’s a mega money-making institution, used to whitewash dictatorships (PSG-Qatar) and to generate billions in direct and indirect revenue for governments.

However, the reverse is the case in Africa, where the only semblance of a properly structured league football are in South Africa and the North African Leagues. Add the fact that European Football is easily available, and you get a situation where young Africans would rather watch midtable European league football than the CAF Champions league for Africa.


READ: Sacramento Kings becomes first sports team to offer salary option in Bitcoin


FIFA’s solution

In 2020, FIFA President Gianni Infantino, disclosed that there are talks of an African Super League which he says can generate revenues of $200 million in a radical plan to reform African football.

“I want to create a real pan-African league that would feature 20-24 clubs with a maximum of maybe two clubs per country that would still play in their national leagues but that would play during the year so we can really crown the club champions of Africa,” Infantino said. “We have had some serious problems in Africa and it has to change. It has to change the way we do the business of football, it has to take on board the basic elements of good governance. There needs to be proper competition infrastructure. I think it is fair to say that competitions in Africa are 30-to-40 times less successful than in Europe.”

“The talks of an African Super League obviously did not generate much pushbacks as local African football needs all the help it can get,” according to Olaoluwa Aro of Maxisport International representing players including Abubakar Ghali of AS Trencin in Slovakia and Akinkunmi Amoo of Hammerby in Sweden. He argues that the African Super League would be a huge boost to Nigerian talent as it will build competitiveness and improve the general local football value chain.

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“The proposed African Super League would definitely be a huge benefit for Nigerian players because, it will further expose our talents beyond Nigeria. The event would be more competitive as more of Local league players would strive hard to announce themselves when the showpiece kickstarts. Additionally, it would enable our local coaches to field the right players because most of them want to make a name like top African coaches,” he said.

On the objection to African Super League in Nigeria so far

Olaoluwa adds that he sees no objection as it would be financially beneficial to the teams that take part in the league.

“There wouldn’t be objection of such on our local front,” he said.

“The African Super League would force all the football stakeholders in Nigeria to move away from antiquated structures of football. The Super League would bring Money to the local clubs because, one of the unseen benefits of the impending event is Market Value. FIFA Understood that African football needs proper reshaping in all its facets; hence, they have used political “will” to install a visionary as the new CAF president. Another advantage for local teams in Nigeria is creating awareness about how talented we are but not having a good platform to stardom (which FIFA is trying to create) is hindering many future football stars,” he added.

What needs to be done to improve Nigerian league football

Olaoluwa adds that Nigeria needs to focus on 3 major area to improve local league football development, including Restructuring, Grassroots Development and Infrastructure. His thought are captured below.

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The current structure of the system needs to be changed comprehensively. The NFF “statute” does not really give rooms for proper and modern football structures. The administrators need to create an enabling environment for the private sector to come into the system and contribute to developing the game from the grassroot.

Grassroot development

He calls for larger investment in the space as Nigeria losses out on refining proper talents. Modern programs for developing talents are yet to be implemented in Nigeria and the NFF needs to periodically organise events that create an avenue for proper and systematic growth and transition.



The Nigeria Football system as a matter of urgency needs to establish a law that would enable football Academies have modern football facilities before issuing them licenses. Academies without proper facilities are one of the reasons Nigeria fails to produce quality players locally.

Note, Football Academies have moved more players abroad than NPFL clubs in the last few years. Players like Osimeh, Nwakali brothers, Simon Moses, Chukuweze, Ndidi, and Ihanacho were all products of Academies thus, the NFF should design a good structure for owing an Academy.

Sponsorship and TV right:

Football is business and not just a recreational activity. No sponsor would do business with your league without proper protection and projection of the league. Club owners are not innovatively running the system, they have made the ecosystem an enclosed one. Government needs to hands off from 100% control of the football system. Most of the appointees are cronies of the government who don’t care about the development of the game except government subventions. Most of our NPFL teams do not even have Jersey endorsement deals compared to North and South Africa. We must change holistically, the governance structure in football.


Like the saying goes, “one man’s poison is another man’s meat,” the Super League structure which has failed in Europe may be the catalyst needed to save African football as neither the fans nor the clubs would rebuff an opportunity to earn proper sponsorship and matchday revenue, a luxury most African football clubs do not currently enjoy.

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