The domestic equity market closed the week on a positive note, recovering from an early-week sell-off on the back of improved investor sentiment. Precisely, buying interest in AIRTELAFRI (+10.0%), MTNN (+3.2%), FIRSTHOLDCO (+11.5%), GTCO (+0.9%) and OANDO (+10.4%) lifted the All-Share Index by 0.6% w/w to 244,738.74 points. June 11, […]
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Nigeria Q1-26 Foreign Trade Surplus Poised to Expand in Q2-26
June 11, 2026/Cordros Report Nigeria’s trade position strengthened sharply, with the foreign trade balance widening to NGN7.55 trillion in Q1-26 from NGN1.71 trillion in Q4-25. This marks the fourteenth successive quarterly surplus and the largest since 2020. Imports fell by 18.2% y/y (-21.1% q/q) to NGN13.62 trillion, a two-year low. […]
UBA Plc Q1-26 Update: Asset Quality Pressures Weigh on Valuation
June 11, 2026/Cordros Report In this update, we present our 2026E outlook for United Bank for Africa Plc (UBA) following the release of its 2025FY and Q1-26 results. We revise our target price downward to NGN55.51/s from NGN60.60/s, primarily reflecting the marked deterioration in asset quality, which significantly weakened the […]
