NewStats: 3,264,830 , 8,184,827 topics. Date: Thursday, 12 June 2025 at 01:39 PM 273c3g

[quote author=crownprince2017 post=135563210][/quote]

https://www.vanguardngr.com/2025/05/nigerias-debt-heads-for-n180trn-as-tinubu-seeks-n34trn-new-loans/

Xidget:
Donno what is happening with Transcorp. Even companies with bad results don behave like this

I am still loading it.
Pls let it maintain till am done.
Thank you all investors for the patience

Executive Summary



Mecure Industries Plc has demonstrated resilient financial performance for the fiscal year 2024/2025, underpinned by strong revenue growth, rising operating profitability, consistent commercial paper issuances, and a dividend payout to shareholders. With a year-on-year (YoY) revenue increase of 45% to ₦46.03 billion and a Profit After Tax (PAT) of ₦2.33 billion, the company remains well-positioned for sustainable expansion within Nigeria’s evolving healthcare landscape.



Given its favorable growth indicators, attractive valuation relative to peers, and continued investor confidence via capital market instruments, we recommend a BUY rating for Mecure Industries Plc.



Strategic Developments & Capital Structure



Mecure Industries has shown disciplined financial stewardship through the issuance of Commercial Paper () to fund working capital and expansion needs. The company expanded its programme from ₦20 billion to ₦40 billion, demonstrating its creditworthiness and market confidence. Notable issuances include:

• Series 4 (April 2025): ₦9 billion at 22.5468% discount (267-day tenor)

• Series 3 (June 2024): ₦6.5 billion at 23.26%

• Series 2 (Feb 2024): ₦6.03 billion at 18.20%

• Series 1 (Dec 2023): ₦5.12 billion at 16.68%



The cumulative issuance of over ₦26 billion within a 16-month period reinforces the company’s access to debt capital markets and a robust funding strategy.



While Fidson leads in revenue and PAT, Mecure exhibits a balanced profile of profitability, dividend distribution, and manageable finance costs. Neimeth, despite high revenue growth, remains unprofitable and exposed to FX volatility.



⸻



Valuation & Investment Case

• Price-Earnings Ratio (P/E) (Est.): ~19.0x – In line with industry averages

• Dividend Yield: ~1.35% (₦0.15 per ₦11.10 share price)

• Debt Profile: Actively managed through issuances with market-reflective discount rates



⸻



Key Investment Drivers

1. Strong Earnings Momentum: PAT of ₦2.33bn and revenue growth of 45% YoY demonstrates robust operational efficiency.

2. Strategic Use of Debt Capital: programme shows active treasury management and funding agility.

3. Dividend Payment: Indicates shareholder value creation and financial stability.

4. Sector Growth: Nigeria’s healthcare and pharmaceutical sector continues to benefit from increased health spending, import substitution policies, and rising demand for local manufacturing.

5. Institutional Confidence: programme expansion and successful issuance point to strong investor trust and liquidity .



⸻



Risks to Outlook

• Rising finance costs (₦4.98 billion) could impact bottom-line margins if not carefully managed.

• Heavy reliance on debt markets for working capital raises leverage concerns, particularly in high-interest environments.

• Macroeconomic risks including FX fluctuations and inflation could affect input costs and consumer demand.



⸻



Conclusion



Mecure Industries Plc presents a solid investment opportunity with strong fundamentals, strategic debt management, dividend income potential, and medium-term growth outlook. For investors seeking exposure to Nigeria’s pharmaceutical sector, Mecure offers a compelling mix of value, yield, and expansion capacity.



We assign a BUY recommendation, ed by stable financials, expanding operations, and disciplined capital management.



⸻



This recommendation is for informational purposes only and does not constitute investment advice. Investors are encouraged to conduct independent analysis or consult a licensed financial advisor before making any investment decision.

fashionnisir:




https://www.vanguardngr.com/2025/05/nigerias-debt-heads-for-n180trn-as-tinubu-seeks-n34trn-new-loans/

President Bola Tinubu Is Not Borrowing $21 Billion

Dear Citizens of the Federal Republic of Nigeria,

Please let us respond to facts, not fake news or innuendo. the Federal Government's Medium-Term Expenditure Framework (MTEF) and read it yourself.

President Bola Tinubu is not about to borrow $21 Billion. The MTEF contains the borrowing plan for both the Federal and State Governments for the next three years.

In other words, the $21 billion is what the Federal Government and the 36 states can borrow over the next three years. Not what they will borrow. What they can borrow. They are not even likely to take those loans. It is just a framework for what is possible.

For example, while the MTEF provides for extensive borrowings in 2025, only $1.23 billion will actually be borrowed. And that $1.23 billion will be borrowed by both the Federal and state governments from all geopolitical zones.

The MTEF only shows possible borrowing that Nigeria is entitled to based on agreements with our external borrowing partners, which must be in line with both the Fiscal Responsibility Act 2007 and the Debt Management Office. (Establishment) Act 2003.

And the Borrowing Rolling Plan ties such possible borrowings by the Federal and State Governments to specific projects.

For actual borrowings, Nigerians should look at the budgets of both the Federal and State Governments.

Therefore, the sensational headlines proclaiming that President Tinubu is to borrow $21 billion are both fake and alarmist.

Again, I urge Nigerians to read the MTEF and the 2025 Appropriation Act.

President Bola Tinubu is a First-Class Cum Laude ant adept at securing finances at the best rates from the most suitable lenders and for the right purposes.

Under such a skilled professional hand, one who has worked in the highest levels at both the private and public sectors, Nigerians can expect their national debt to reduce, not increase.

Finally, Nigerians should note that many opposition media and influencers know that many of our people sadly do not read and are, therefore, susceptible to manipulation via misinformation and propaganda.

Thus, I urge the public to read as much as possible and from official sources before they make conclusions based on sensational headlines.

Reno Omokri

Mpeace:
Lol. He wants hold UBA firmly. He might drive the price up in the near future

At the last AGM he was emphatic that UBA is undervalued by the market. And that UBA will only do rights to complete the mandated CBN capital raise to ensure shareholders and not outsiders get value for their investments. In the same AGM Shareholders were emphatic on sustained good dividends.

Let him continue with good results and sustained good dividends and the market will naturally drive the price up.

[quote author=crownprince2017 post=135563210][/quote]

Reno Omokri, is that you?

crownprince2017:


President Bola Tinubu Is Not Borrowing $21 Billion

Dear Citizens of the Federal Republic of Nigeria,

Please let us respond to facts, not fake news or innuendo. the Federal Government's Medium-Term Expenditure Framework (MTEF) and read it yourself.

President Bola Tinubu is not about to borrow $21 Billion. The MTEF contains the borrowing plan for both the Federal and State Governments for the next three years.

In other words, the $21 billion is what the Federal Government and the 36 states can borrow over the next three years. Not what they will borrow. What they can borrow. They are not even likely to take those loans. It is just a framework for what is possible.

For example, while the MTEF provides for extensive borrowings in 2025, only $1.23 billion will actually be borrowed. And that $1.23 billion will be borrowed by both the Federal and state governments from all geopolitical zones.

The MTEF only shows possible borrowing that Nigeria is entitled to based on agreements with our external borrowing partners, which must be in line with both the Fiscal Responsibility Act 2007 and the Debt Management Office. (Establishment) Act 2003.

And the Borrowing Rolling Plan ties such possible borrowings by the Federal and State Governments to specific projects.

For actual borrowings, Nigerians should look at the budgets of both the Federal and State Governments.

Therefore, the sensational headlines proclaiming that President Tinubu is to borrow $21 billion are both fake and alarmist.

Again, I urge Nigerians to read the MTEF and the 2025 Appropriation Act.

President Bola Tinubu is a First-Class Cum Laude ant adept at securing finances at the best rates from the most suitable lenders and for the right purposes.

Under such a skilled professional hand, one who has worked in the highest levels at both the private and public sectors, Nigerians can expect their national debt to reduce, not increase.

Finally, Nigerians should note that many opposition media and influencers know that many of our people sadly do not read and are, therefore, susceptible to manipulation via misinformation and propaganda.

Thus, I urge the public to read as much as possible and from official sources before they make conclusions based on sensational headlines.

Reno Omokri

That is what they will say. That that the plan is for three years. As soon as it is approved, them go just collect everything use do next election.
They told us removal of fuel subsidy will save 2billion dollars every month. So why are they not using the $2 billion they saved in the last 2yrs.
That should be over $24billion by now

Need to write aradel registrars for my dividend. Someone Pls help me with their email

veecovee:
Need to write aradel registrars for my dividend. Someone Pls help me with their email

Mine just came in like 1hr ago. I done use the thing buy small UBA. Make we see wetin eleumelu dey plan

Valthegreat:
Please which brokers can I use to buy stocks on NASD exchange? I have tried Morgan but their itrade platform only has NGX option.

NASD trads are placed via email mandates to your brokers. The system is not as matured as the NGX.

Mpeace:
Mine just came in like 1hr ago. I done use the thing buy small UBA. Make we see wetin eleumelu dey plan

,,, know aradel registrar's email?

Mpeace:
That is what they will say. That that the plan is for three years. As soon as it is approved, them go just collect everything use do next election.
They told us removal of fuel subsidy will save 2billion dollars every month. So why are they not using the $2 billion they saved in the last 2yrs.
That should be over $24billion by now

Were they paying for subsidy or borrowing to pay for subsidy? The saving is in debts

Agbalowomeri:


Were they paying for subsidy or borrowing to pay for subsidy? The saving is in debts

If so, then the borrowing should have slowed down now that the subsidy is gone but the reverse is the case.

crownprince2017:


President Bola Tinubu Is Not Borrowing $21 Billion

Dear Citizens of the Federal Republic of Nigeria,

Please let us respond to facts, not fake news or innuendo. the Federal Government's Medium-Term Expenditure Framework (MTEF) and read it yourself.

President Bola Tinubu is not about to borrow $21 Billion. The MTEF contains the borrowing plan for both the Federal and State Governments for the next three years.

In other words, the $21 billion is what the Federal Government and the 36 states can borrow over the next three years. Not what they will borrow. What they can borrow. They are not even likely to take those loans. It is just a framework for what is possible.

For example, while the MTEF provides for extensive borrowings in 2025, only $1.23 billion will actually be borrowed. And that $1.23 billion will be borrowed by both the Federal and state governments from all geopolitical zones.

The MTEF only shows possible borrowing that Nigeria is entitled to based on agreements with our external borrowing partners, which must be in line with both the Fiscal Responsibility Act 2007 and the Debt Management Office. (Establishment) Act 2003.

And the Borrowing Rolling Plan ties such possible borrowings by the Federal and State Governments to specific projects.

For actual borrowings, Nigerians should look at the budgets of both the Federal and State Governments.

Therefore, the sensational headlines proclaiming that President Tinubu is to borrow $21 billion are both fake and alarmist.

Again, I urge Nigerians to read the MTEF and the 2025 Appropriation Act.

President Bola Tinubu is a First-Class Cum Laude ant adept at securing finances at the best rates from the most suitable lenders and for the right purposes.

Under such a skilled professional hand, one who has worked in the highest levels at both the private and public sectors, Nigerians can expect their national debt to reduce, not increase.

Finally, Nigerians should note that many opposition media and influencers know that many of our people sadly do not read and are, therefore, susceptible to manipulation via misinformation and propaganda.

Thus, I urge the public to read as much as possible and from official sources before they make conclusions based on sensational headlines.

Reno Omokri

What's the meaning of OMOKRI?

megawealth01:


What's the meaning of OMOKRI?

Reno Omokri is a Nigerian lawyer, author, and former presidential aide. He's known for his outspoken views on politics, social issues, and current events. Omokri has been involved in various controversies and has expressed his opinions on several high-profile issues in Nigeria.

Some of his notable endeavors include:
- *Author*: Omokri has written several books on politics, leadership, and personal development.
- *Social Media Presence*: He is active on social media platforms, where he shares his thoughts on various topics and engages with his followers.
- *Former Presidential Aide*: Omokri served as a special assistant to former President Goodluck Jonathan.

Reno Omokri's opinions and writings often spark discussions and debates, and he has been involved in several high-profile controversies throughout his career.

There is this grand illusion among the Nigerian populace that Nigeria is rich. No! We are not revenue rich for our large population. It is only a pity that the ruling class has also chosen profligacy as a way of life helping to foster this illusion of wealth. With our current level of revenue generation, we cannot develop without borrowing.

Caveat: this post is not a for the current borrowing plan. I'm not sure if the current istration is prudent enough to be the one borrowing for our development.

Mpeace:
If so, then the borrowing should have slowed down now that the subsidy is gone but the reverse is the case.

fashionnisir:


Reno Omokri is a Nigerian lawyer, author, and former presidential aide. He's known for his outspoken views on politics, social issues, and current events. Omokri has been involved in various controversies and has expressed his opinions on several high-profile issues in Nigeria.

Some of his notable endeavors include:
- *Author*: Omokri has written several books on politics, leadership, and personal development.
- *Social Media Presence*: He is active on social media platforms, where he shares his thoughts on various topics and engages with his followers.
- *Former Presidential Aide*: Omokri served as a special assistant to former President Goodluck Jonathan.

Reno Omokri's opinions and writings often spark discussions and debates, and he has been involved in several high-profile controversies throughout his career.

Anyways, if I'm to say what I understand from your writings, it seems he is a jobman for politicians?

megawealth01:


Anyways, if I'm to say what I understand from your writings, it seems he is a jobman for politicians?

Senior Man, i cant say but i have deloaded the 4 document he mentioned

MTFR ACT 2025
DMOT 2003
Fiscal Responsibility Act 2007
2025 Appropriation Act

na to make sense out of it na him remain 😭😭😭

Mpeace:
If so, then the borrowing should have slowed down now that the subsidy is gone but the reverse is the case.

We have to increase revenue tremendously for the borrowing to slow down. In my opinion, we should have increased VAT from 7.5% to 10% as proposed by tax reforms but law makers turned it down. Our VAT rate is one of the lowest in the world if not the lowest.

This Government has done more of domestic borrowing. In of external debts, they have only increased it by approximately 2 Billion USD to 45 Billion USD at the end of 2024 from 43 Billion USD in May 2023. It seems they are yet to access majority of those World Bank loans approved in 2024.

But, the optics is bad with some wasteful spending and the NASS keep padding budgets like they’ve always done since 1999.

bovali:

........
.....
My Opinion
This quarter is a directional improvement, not yet a turnaround. If the company sustains revenue growth and avoids further dilution, valuation could settle near ₦5–₦6 over the next 12–18 months. Hold if already invested. If considering entry, wait for one more quarter showing solid positive cash flow or meaningful profit.

Danke Sehr

GeneralDae:

We have to increase revenue tremendously for the borrowing to slow down. In my opinion, we should have increased VAT from 7.5% to 10% as proposed by tax reforms but law makers turned it down. Our VAT rate is one of the lowest in the world if not the lowest.

This Government has done more of domestic borrowing. In of external debts, they have only increased it by approximately 2 Billion USD to 45 Billion USD at the end of 2024 from 43 Billion USD in May 2023. It seems they are yet to access majority of those World Bank loans approved in 2024.

But, the optics is bad with some wasteful spending and the NASS keep padding budgets like they’ve always done since 1999.

we cant be talking about increase in Vat tax without considering unemployment rate in the conutry, the mass will bear the cost burden .
Employment of workable and willing labour forces is also key.

Comparison with "the world" is what turns me off especially when we fail to consider other metrics

We've lived through successive tenures who promise one change or the other but at the end of the day little or nothing changes.
Our natural and human resources are being 'wasted and pilfered' before our very eyes.

Let's advocate for [and institute] good leadership, we'll see that all these seemingly great issues will vanish...

GeneralDae:

We have to increase revenue tremendously for the borrowing to slow down. In my opinion, we should have increased VAT from 7.5% to 10% as proposed by tax reforms but law makers turned it down. Our VAT rate is one of the lowest in the world if not the lowest.

This Government has done more of domestic borrowing. In of external debts, they have only increased it by approximately 2 Billion USD to 45 Billion USD at the end of 2024 from 43 Billion USD in May 2023. It seems they are yet to access majority of those World Bank loans approved in 2024.

But, the optics is bad with some wasteful spending and the NASS keep padding budgets like they’ve always done since 1999.

GeeKudi:
There is this grand illusion among the Nigerian populace that Nigeria is rich. No! We are not revenue rich for our large population. It is only a pity that the ruling class has also chosen profligacy as a way of life helping to foster this illusion of wealth. With our current level of revenue generation, we cannot develop without borrowing.

Caveat: this post is not a for the current borrowing plan. I'm not sure if the current istration is prudent enough to be the one borrowing for our development.

I slightly differ from your POV

This is because Nigeria is actually RESOURCE RICH and IF we put in the heavy work towards value creation, Nigeria indeed will reflect the truly rich image that we portray.

Nigeria appears poor within your framework (which is a correct one btw) because of Rent Seeking mentality and laziness of our elite class

Rent Seeking in an unproductive clime can only generate so much

My thoughts

OMATEK ON FULL BID

KarlTom:
Comparison with "the world" is what turns me off especially when we fail to consider other metrics

We've lived through successive tenures who promise one change or the other but at the end of the day little or nothing changes.
Our natural and human resources are being 'wasted and pilfered' before our very eyes.

Let's advocate for [and institute] good leadership, we'll see that all these seemingly great issues will vanish...

The truth is that while great leadership is crucial especially the leadership that cuts wasteful spending, no Government can do much without increasing revenue consistently especially with our population growth.

If the Government doesn’t increase taxes, they would print massively or borrow massively. When they print massively, it is always beneficial short term but mid to long term the inflation and currency devaluation resulting from it takes more from the people eventually. When they borrow, the external debt servicing puts pressure on the currency mid to long term while domestic borrowing crowds out the private sector and hinders growth.

We can increase taxes but give incentives to manufacturers and those in the agric value chain. This is what the tax bill was proposing.

The only thing I have against this Government when it comes to this is that they self sabotage by some wasteful spending from time to time which is not good for the optics.

But they have been more deliberate in trying to solve our problem from the roots by increasing revenue.

Oando you go collect if we no see result today.
Even if na my papa get the company. I will stand by the truth irrespective of my money in it.
Onado you better bring out result as promised today....no excuse

GeneralDae:

......
....
...
We can increase taxes but give incentives to manufacturers and those in the agric value chain. This is what the tax bill was proposing.

The only thing I have against this Government when it comes to this is that they self sabotage by some wasteful spending from time to time which is not good for the optics.

But they have been more deliberate in trying to solve our problem from the roots by increasing revenue.

@Bolded
Govt has heard your plea..
Say no more.

https://www.energyreforms.ng/publications/putting-every-barrel-to-work-nigeria-s-new-presidential-directive-on-cost-efficiency-/


Tax waivers for production efficiency.

Streetinvestor2:
Oando you go collect if we no see result today.
Even if na my papa get the company. I will stand by the truth irrespective of my money in it.
Onado you better bring out result as promised today....no excuse

Lol Oando promise and you believe

Agbalowomeri:


Lol Oando promise and you believe

chimex38:

@Bolded
Govt has heard your plea..
Say no more.

https://www.energyreforms.ng/publications/putting-every-barrel-to-work-nigeria-s-new-presidential-directive-on-cost-efficiency-/


Tax waivers for production efficiency.

Yeah, I saw this some hours ago. This is a strategy to ensure we get more from our crude oil production because Nigerian cost of production is the highest in the world at around $48 per barrel sometimes.
So we get little to nothing (especially offshore) at this time where crude oil prices are now $63 per barrel. The president is bringing out policies to help reduce the cost of production in the face of low crude oil prices.