Kayode Tokede

Lagos, Nigeria

Business Editor and Financial Journalist at Nigerian News Direct

Business Desk at This Day (Nigeria)

Bloomberg-certified Financial Journalist with wealth of Information in Business and Financial Market Analysis

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Articles

Q1: Inflation Takes Toll as Manufacturing Companies’ OPEX Reached N2.24trn

1 day ago | thisdaylive.com | Kayode Tokede

Kayode TokedeFollowing spiralling inflation and other variables, Dangote Cement Plc and 10 other manufacturing companies listed on the Nigerian Exchange (NGX), spent an estimated N2.24 trillion on operating expenses in the first quarter (Q1) of 2025. This represents a significant increase of 29.4 per cent from N1.73 trillion in the first quarter of 2024. The 11 companies’ massive OPEX is higher than the 24.23 per cent March 2025 inflation figure released by National Bureau of Statistics (NBS).
Stock Market Appreciates by N314bn on Buy Interest in Oando, Others

1 day ago | thisdaylive.com | Kayode Tokede

Kayode TokedeThe Nigerian equities market yesterday reversed prior day’s profit-taking as the overall capitalisation appreciated by N314 billion supported by investors buying interest in Oando Plc and 39 others. The Nigerian Exchange Limited All Share Index (NGX ASI) gained by 501.14 basis points or 0.46 per cent to close at 108,762.61 basis points. Accordingly, the Month-to-Date and Year-to-Date returns improved to +2.8per cent and +5.7per cent, respectively.
DMO Opens N300bn Series VII Sukuk to Boost FG’s Road Infrastructure

2 days ago | thisdaylive.com | Ndubuisi Francis |Kayode Tokede

•Investors in Sharia-compliant instrument to earn 19.75% per annumNdubuisi Francis in AbujaThe Debt Management Office (DMO) yesterday opened subscriptions for a N300 billion Series V11 Ijarah Sukuk with a seven-year tenor and annual rental rate (interest) of 19.75 per cent as part of federal government’s domestic funding sources for the 2025 budget.
Nigeria: Despite Mounting NPLS, Nine Banks' Exposure to Oil & Gas Increase to N15.6trn

3 days ago | allafrica.com | Kayode Tokede

Amid growing Non-Performing Loans (NPL) and unstable global oil prices, a total of nine banks' exposure to the Oil & gas sector increased to N15.6 trillion in 2024, representing about 94.4per cent increase from N10.17 trillion reported in 2023 financial year. The banks investigated by THISDAY are; Access Holdings Plc, Guaranty Trust Holding Plc (GTCO), United Bank for Africa (UBA) Plc, Zenith Bank Plc and FBN Holdings Plc.
At -13.20%, NGX Oil & Gas Index Remain Worst Performing Indicator

1 week ago | thisdaylive.com | Kayode Tokede

Breaking News Kayode TokedeFor closing at -13.20 per cent in the first four months of 2025, the Nigerian Exchange Limited (NGX) Oil & Gas Index has maintained its position as the worst performing indicator on the bourse amid the overall stock market growth in the period under review.
MTN Nigeria Recovers, Declares N133.7bn Profit in Q1 2025

1 week ago | thisdaylive.com | Kayode Tokede

Kayode Tokede MTN Nigeria Communications Plc, yesterday declared a profit after tax of N133.7 billion for first quarter (Q1) ended March 31, 2025, from a loss of N392.7 billion declared in the first quarter of 2024. From the profit & loss figures, MTN Nigeria announced N202.55 billion profit before tax in Q1 2025 from a loss of N390.67 billion in Q1 2024. The company announced a total revenue of N1.06 trillion, representing an increase of 40.5 per cent from N752.96 billion in Q1 2024.
Stock Market Appreciates by N412bn on Demand for MTN, 34 Others

1 week ago | thisdaylive.com | Kayode Tokede

Kayode TokedeThe Nigerian stock market yesterday opened the trading week on a strong note, as investors’ investment grew by N412 billion on demand for MTN Nigeria Communications Plc (2.4 per cent) and 34 othersAs a result, the Nigerian Exchange Limited All-Share Index (NGX ASI) gained 655.93 basis points, or 0.62 per cent to close at 106,698.50 basis points. Also, market capitalisation rose by N412 billion to close at N67.060 trillion.
Aradel Holdings’ Market Value Plummets by N650bn in Four Months

1 week ago | thisdaylive.com | Kayode Tokede

Kayode Tokede Despite an impressive financial result for the first quarter ended March 31, 2025, the market value of Aradel Holdings Plc, has depreciated by a whooping N650 billion in first four months of 2025 over investors profit-taking and sentiment. Stock price of the integrated oil and gas service company listed on the Nigerian Exchange (NGX) closed at N598 per share in 2024.
Stock Market Appreciates by N3.73trn in Four Months

2 weeks ago | thisdaylive.com | Kayode Tokede |Peter Uzoho

Kayode TokedeThe stock market section of the Nigerian Exchange Limited (NGX) appreciated by N3.73 trillion by market capitalisation in the first four months of 2025 to close at N66.496 trillion as of April, 30, 2025. Capital market analysts attributed the stock market N3.7 trillion growth to impressive 2024 performance by listed companies and the recovery of some companies in their first quarter ended March 31, 2025 corporate earnings released on the Exchange.
Shareholders Affirms FCMB Group’s Dividend, Closes FY2024 With N7.1trn Assets

2 weeks ago | thisdaylive.com | Kayode Tokede

Breaking News Kayode Tokede FCMB Group Plc convened its 12th Annual General Meeting (AGM) in Lagos on April 29, 2025, where shareholders endorsed the Group’s 2024 financial results and approved key resolutions to drive future growth and strengthen governance. FCMB Group closed 2024 with total assets of N7.1 trillion and deposits of N4.3 trillion.