Here is Zenith Securities’ analysis of Total Nigeria. Zenith gives the stock a HOLD rating.

Courtesy of Investor Delight, here is he market report for the week ended March 6th, 2009:Market Report For The Week Ended March 6th, 2009A turnover of 1.54 billion shares worth N9.42 billion in 33,641 deals was recorded this week, in contrast to a total of 1.75 billion shares valued at N12.45 billion exchanged last week in 42,12.456 deals. There were no transactions in the Federal Government Development Stocks, State Government Bonds and Industrial Loans/Preference Stocks sectors.

Below is Afrinvest’s bi-weekly market report for the period ended Feb 27th.[Download not found]Also below is FSDH’s analysis of Guiness’ Q2 2008 results.

While I have been supportive of the CBN’s “interventions” in the stock exchange, I think at the end of the day, they might have to relax the regulations on the FOREX tradings.The Naira has lost clost to 50% of its value in the last 4 months.My main reason for the need for relaxing of the regulations is its effects on the banks.

The Economist magazine had an article on the Nigerian economy today.  They had this revealing excerpt:Yet even if the global crisis has not hit Nigeria as hard as elsewhere, it is exposing some unresolved problems at home. Take the banking system, which Mr Soludo says would have collapsed months ago but for an early round of government-driven consolidation. He calls the banks “shock absorbers” for the economy.

Here is the stock market report for the week ended February  27th 2009:A turnover of 1.75 billion shares worth N12.45 billion in 42,503 deals was recorded this week, in contrast to a total of 1.54 billion shares valued at N7.73 billion exchanged last week in 37,208 deals.There were no transactions in the Federal Government Development Stocks, State Government Bonds and Industrial Loans/Preference Stocks sectors.

The Wall Street Journal had an article in today’s edition on Nigeria’s economy and it isnt pretty. The koko of the story is that the falling oil prices have reduced the budgetary expectations. IMF is forecasting a growth rate of 3.3% which is less than the 8% required for developing countries. And other analysts are forecasting a growth rate of just 2%. Add to that the fact that the Naira has declined steeply against the dollar.