Nigerian Banks Lose 24.5% Of Market Value - Investment (2) - Nairaland
Nairaland Forum / Nairaland / General / Investment / Nigerian Banks Lose 24.5% Of Market Value (11909 Views)
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| Re: Nigerian Banks Lose 24.5% Of Market Value by miqos02(m): 1:40pm On Mar 02, 2015 |
GEJ at work 1 Like |
| Re: Nigerian Banks Lose 24.5% Of Market Value by ceejayluv(m): 1:41pm On Mar 02, 2015 |
ozor1:Economic booms and dooms are recurring events... We'll pull through it as we pulled through in 2008 /2009 1 Like |
| Re: Nigerian Banks Lose 24.5% Of Market Value by justiceman: 1:41pm On Mar 02, 2015 |
[size=18pt]Sack is looming in banks, The 2015 election is causing a havoc on the economy. The tiger is waiting for the horses to come back from merry making. Save for the rainy day, start now, there is a looming economic downturn in Nigeria.[/size] But the Faithful will prevail 2 Likes |
| Re: Nigerian Banks Lose 24.5% Of Market Value by chidinwachukwu(m): 1:41pm On Mar 02, 2015 |
ozor1:Must u always comment on every topic?,even when u are a dullard on the field were it's written from?.So it's Jonathan that decreased the crude oil price that is affecting our currency?,or is it goodluck that made our economy, to be based on crude oil alone?.when you fail ur Secondary school exam,u will say it's jonathan.Grow up and stop showcasing ur naivity here. |
| Re: Nigerian Banks Lose 24.5% Of Market Value by hotestguy(m): 1:41pm On Mar 02, 2015 |
na woooo for the bankers |
| Re: Nigerian Banks Lose 24.5% Of Market Value by steppin: 1:42pm On Mar 02, 2015 |
searching4love:APC MUMU! Keep re-arranging my posts! Senseless bagger! |
| Re: Nigerian Banks Lose 24.5% Of Market Value by Burger01(m): 1:42pm On Mar 02, 2015 |
OLAplusONE:That one na paper growth.  |
| Re: Nigerian Banks Lose 24.5% Of Market Value by nextstep(m): 1:43pm On Mar 02, 2015 |
I personally think this is a great time to buy bank stocks, especially if you have dollars or pounds. In foreign exchange terms all these banks are half the price they were a year ago. I dont know if we've hit bottom, but its highly unlikely these banking stocks will stay depressed over the next 8 quarters, so you might as well pick some up while they are on sale. No need to panic. 1 Like |
| Re: Nigerian Banks Lose 24.5% Of Market Value by Nobody: 1:44pm On Mar 02, 2015 |
ceejayluv: No we won't. Especially with the era of oil prices being above $100 at an end. Mr SAP is back again....and he is here for a very looooong stay. 1 Like |
| Re: Nigerian Banks Lose 24.5% Of Market Value by hotestguy(m): 1:45pm On Mar 02, 2015 |
need goods from china call this no +8615257133429 |
| Re: Nigerian Banks Lose 24.5% Of Market Value by Akinz0126(m): 1:45pm On Mar 02, 2015 |
GEJ till Nigerians face reality's are gej supporters now?let them come and defend their lords since they are the serve it GEJ or GMB or anybody else Nigeria is facing his own test and trials naw and all I know is never again shall we go back to exile in Babylon must surely survive this by and large let's sorrow last for a night joy cometh in the morning.gbam pity those that would still lose their job |
| Re: Nigerian Banks Lose 24.5% Of Market Value by hensben(m): 1:46pm On Mar 02, 2015 |
Ok GEJ till some NIgerians get sense. |
| Re: Nigerian Banks Lose 24.5% Of Market Value by Akinz0126(m): 1:46pm On Mar 02, 2015 |
GEJ till Nigerians face reality's.were are gej supporters now?let them come and defend their lords since they are the serv e be it GEJ or GMB or anybody else Nigeria is facing his own test and trials naw and all I know is never again shall we go back to exile in Babylon.We must surely survive this by and large let's sorrow last for a night tym joy cometh in the morning.gbam pity those that would still lose their job |
| Re: Nigerian Banks Lose 24.5% Of Market Value by goddy4lif: 1:48pm On Mar 02, 2015 |
time to buy shares |
| Re: Nigerian Banks Lose 24.5% Of Market Value by Nobody: 1:50pm On Mar 02, 2015 |
chidinwachukwu: No, it wasn't GEJ who got us oil dependent(blame the 1970's leaders for that). But he has not done enough to get us off oil either. We still rely on oil to the tune of 80% of our budget. At which point you will tell me about the wonderful diversification of GEJ into agric and the car assembly plants. Good...except that 1.We are still not a major agric producer. Especially when MOST of our farming is done on small scale subsistence farmer plots. 2.As long as Ajaokuta is not working...many of those new car assembly pnats are going to close in the next ten years because thanks to the inflation resulting from the drop in oil prices....we cannot import the parts needed to make a car in Nigeria.(In other words...what happened to Peugeot , Volkswagen and Leyland/Steyr's operations in Nigeria in the 1980's will repeat itself). 3.Nigeria needs 12500mw. Currently we are generating 3500MW...despite the money thrown at electricity by GEJ and his gang. How do you expect an economy to work on just that? Your PDP govt needs to do better. Especially if they are still in charge come May 29....and it starts by Nigeria getting off oil. Simples. 5 Likes |
| Re: Nigerian Banks Lose 24.5% Of Market Value by scribble: 1:52pm On Mar 02, 2015 |
Burger01: but those that said they will vote for buhari even if he presents NEPA bill instead of certificate are sane abi? SAI GEJ |
| Re: Nigerian Banks Lose 24.5% Of Market Value by Nobody: 1:56pm On Mar 02, 2015 |
scribble: You may want to reconsider your PDP vote...especially as PDP have done nothing for the economic well being of Nigeria over the last 15 years. We are still heavily oil dependent....and we are not producing enough electricity for sustainable economic development. The only thing that should keep you from voting APC is that APC too has no answer to either problem....and even wants to make us more oil dependent.(N2000 allawee for every unemployed Nigerian? Seriously?) You Nigerians....your problem is that you do not force your leaders to do better. And you seem to think that criticism=I want their removal. 1 Like |
| Re: Nigerian Banks Lose 24.5% Of Market Value by nextstep(m): 1:58pm On Mar 02, 2015 |
bushdoc9919: Oil is less than 10% of the national gdp. Even if it goes away entirely, we'd still be an economy worth $470billion. Here's my encouraging understanding of the situation: It's true Govt earns most of its budget from oil, but they have been looking for other revenue sources like taxes, so lower oil price will hurt in the short term but will spur more diversification efforts. Importers will be affected, but overall we're becoming less import dependent on food, cement, and refined petroleum so we will be able to carry on Exporters will benefit, as their products are now cheaper abroad PMS prices at the pump - which affects the cost of business, transport, and food - should remain steady and probably fall. Nigerians abroad will find it easier to start a business, build or buy property. 1 Like |
| Re: Nigerian Banks Lose 24.5% Of Market Value by scribble: 2:01pm On Mar 02, 2015 |
bushdoc9919: GEJ has tried with Agric and has done some significant things. He inherited a country that was damaged by many years of maladministration Sure, he is not perfect but he is better than what we have seen before |
| Re: Nigerian Banks Lose 24.5% Of Market Value by 989900: 2:02pm On Mar 02, 2015 |
Oil is less than 10% of the national gdp. Seriously?! |
| Re: Nigerian Banks Lose 24.5% Of Market Value by ednut1(m): 2:03pm On Mar 02, 2015 |
up stanbic IBTC we too much  |
| Re: Nigerian Banks Lose 24.5% Of Market Value by 989900: 2:05pm On Mar 02, 2015 |
bushdoc9919: Well said jare. I wonder where they get the idea that investors will come just because our crazy Naira is in a fee-fall? If the above are fixed + Security, even @ less than N100 to $1, investors don't even have to be wooed -- they'll gatecrash. 1 Like |
| Re: Nigerian Banks Lose 24.5% Of Market Value by Nobody: 2:08pm On Mar 02, 2015 |
odikwa fresh air transformation is here inhale the fresh air 1 Like |
| Re: Nigerian Banks Lose 24.5% Of Market Value by twosquare(m): 2:11pm On Mar 02, 2015 |
bushdoc9919: 1 Like |
| Re: Nigerian Banks Lose 24.5% Of Market Value by Nobody: 2:13pm On Mar 02, 2015 |
nextstep: Nigeria earns most of its revenue from oil. And our GDP is still low...especially when you calculate the percapita GDP! Taxes? That most Nigerians do not pay? Importers will be affected, but overall we're becoming less import dependent on food, cement, and refined petroleum so we will be able to carry on We are still heavily importing food. And we still import 40% of our refined petroleum...BECAUSE....our refineries are NOT producing at full capacity. Plus....guess where we get the machines needed to manufacture cement...and other products in this country. That's right...from abroad. Infact....many domestic industries are going to fall down by the wayside...because raw materials and machinery which had to be brought from abroad are going to be more costly. Exporters will benefit, as their products are now cheaper abroad What are we exporting? And FYI....we are not the agric power we once were. In 1970....we were a global leader in cotton, groundnut, palm oil and cocoa export. Now...we are not...except in Cocoa where we are No 5...down from No2 in 1978! What exports? Oil is still 80% of our exports...and now it is no longer profitable. (P.S-Agric minister is trying....but he still has a mountain to climb). PMS prices at the pump - which affects the cost of business, transport, and food - should remain steady and probably fall. Yes....and meanwhile we have a fuel scarcity because our independent marketers cannot sell oil at the subsidized price. And we are still importing oil to make up for shortfalls.(I hope Dangote can complete his refinery quickly.). Nigerians abroad will find it easier to start a business, build or buy property. How does that help those at home? And when we are producing 3500mw of electricity(9000 less than what we need)....and when setting up a business in Nigeria requires you to provide your light and water.....things that in developed countries are provided as a matter of fact...but in Nigeria thanks to corruption and stealing and mismanagement....cannot be done....the cost of setting up a business in Nigeria is still going to be high. Nigeria needs to get off oil . That is the solution....and I do not see PDP or APC jokes giving us a blueprint as to how we are going to do that. Because you Nigerians are so happy in your suffering that you refuse to challenge your leaders to do better. 3 Likes |
| Re: Nigerian Banks Lose 24.5% Of Market Value by nextstep(m): 2:17pm On Mar 02, 2015 |
989900: Copying what I wrote on the wiki: http://en.m.wikipedia.org/wiki/Economy_of_Nigeria back in 2012 Although much has been made of its status as a major exporter of oil, Nigeria produces only about 2.7% of the world's supply (Saudi Arabia: 12.9%, Russia: 12.7%, USA:8.6%).[9] To put oil revenues in perspective: at an estimated export rate of 1.9 Mbbl/d (300,000 m3/d), with a projected sales price of $65 per barrel in 2011, Nigeria's anticipated revenue from petroleum is about $52.2 billion (2012 GDP: $451 billion). This accounts about 11% of official GDP figures (and drops to 8% when the informal economy is included in these calculations). Therefore, though the petroleum sector is important, it remains in fact a small part of the country's overall vibrant and diversified economy. I would go further to say that there is another $100-200 billion that is not being accounted for due to inadequate data capture (though I have faith in our Statistician-general to keep refining their accuracy over time) Now take this example where Nafdac states that pure water alone accounts for #7billion per day http://www.punchng.com/health/pure-water-business-generates-n7bn-daily-nafdac/ Na coins? This is from 2012, I bet it's closer to #12billion today. At #180 to $1, we get $67million per day! Which is about $24 billion annually. Just pure water alone. The same pure water our elites like to ridicule. This is in the ballpark of the official budget from oil. Granted these numbers are my estimates, but do your own calculation, and you'll see they give an idea of the scale of the Nigerian economy. Add boli and poff poff and you've just funded the government budget. 1 Like |
| Re: Nigerian Banks Lose 24.5% Of Market Value by 989900: 2:18pm On Mar 02, 2015 |
"Nigerians are so happy in your suffering that you refuse to challenge your leaders to do better." This boggles my mind. 2 Likes |
| Re: Nigerian Banks Lose 24.5% Of Market Value by Nobody: 2:20pm On Mar 02, 2015 |
scribble: How old are you? GEJ is just doing what the millitary regimes of the 1970's did when we had some oil money...built up a lot of projects and nice roads.....OBJ built a lot of super highways....and spent a lot on infrastructure back then (OBJ the Army man...not the civillian). And they were all able to do that because WE HAD LOTS OF OIL MONEY. If oil had not been as high in price as it has been over the last five years....GEJ would not have been able to do all those projects. (And guess what...in the next decade all those wonderful GEJ works will get dillapidated...because we have no money to maintain them...because oil prices are low). And GEJ still has not improved power supply.....why is it that Nigeria cannot get above 5000MW at any time during his administration? Why do we still have power cuts.? What Nigeria's leaders should be doing is reviving and following to the letter the old National Development Plans.....with a view to getting us off oil dependency and into industries.And it starts by getting Nigeria up to 20000MW... Infact...if GEJ wins this month....I will be impressed with him if the first words out of his mouth are ''Útilities, utilities and utilities''. 2 Likes 1 Share |
| Re: Nigerian Banks Lose 24.5% Of Market Value by tsdarkside(m): 2:22pm On Mar 02, 2015 |
i dont understand economics...is that not very bad  ?  |
| Re: Nigerian Banks Lose 24.5% Of Market Value by kyke008(f): 2:27pm On Mar 02, 2015 |
Burger01:what I would suggest is a radical change in strategy,I would blame the banks because they brought this upon themselves,they have prefered to fund the oil and gas sector and real estate sector cause of the quick gains they'll get,they failed to invest heavily in the agriculture and other non oil sectors,the federal govt alonne cannot drive a total trannsformation of the economy,thatz where the banks come in,the govt through the cbn have to come up with policies that will encourage the banking sector invest in thhe non oil sector,I feel this period will help our banks move away from their lazy and "make money" quick attitude,they need too help empower the sme too.I know we have the brains to bring us out of this economic quagmire. 2 Likes |
| Re: Nigerian Banks Lose 24.5% Of Market Value by Orikinla(m): 2:30pm On Mar 02, 2015 |
[size=48pt]BUT THEY SAID OUR ECONOMY IS BOOMING?[/size] 3 Likes |
| Re: Nigerian Banks Lose 24.5% Of Market Value by tsdarkside(m): 2:31pm On Mar 02, 2015 |
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