Afrinvest Report On Nigeria’s Non-Financial Sector
donne4real | October 3, 2008
Afrinvest has released a report on some non-financial sector companies in Nigeria. You can read it here:
Afrinvest Report on The Nigerian Non-Financials Sector (2008) - Pt.1 (64)
Afrinvest Report on The Nigerian Non-Financials Sector (2008) - Pt. 2 (128)
They also prepared reports on the banking and insurance sectors earlier in the year. You can also read those here:
Afrinvest 2008 Nigerian Banking Sector Report (76)
Afrinvest 2008 Nigerian Insurance Sector Report (54)
Some of the main points in their non-financial sector reports are:
Historically, the industial corporations used to be the main stay of the Nigerian economy.
Factors for the reduced emphasis of the non-financial secotr:
- The emergence of banks on the public equities scene and the rapid growth in thier earnings and valuations has made the banks the dominant factors in the NSE.
- The Nigerian economy has become more transactional rather than productive.
- The financial services sector has been quicker to the see the benefits of the macroeconomic policies of the government.
- Industrial corporations have not been active in issuing new shares creating a general lack of trading liquidity in their stocks relative to banks.
Reasons for the slow growth of the non-financial services sector:
- The crippling effect of the epileptic power system resulting in increased costs of doing business.
- The global food crisis.
- Higher interest rates.
Opportunities:
- Relative political stability
- Increased consumerism
The companies covered are:
- Building and Construction Sector:
- Ashaka Cement Plc
- Benue Cement Company Plc
- Cement Company of Northern Nigeria Plc
- Lafarge Cement Wapco Plc
- Julius Berger Plc
Consumer Goods Sector:
- 7-UP Bottling Company Plc
- Dangote Sugar Refinery Plc
- Flour Mills of Nigeria Plc
- Guinness Nigeria Plc
- Nestle Nigeria Plc
- Nigeria Bottling Company Plc
- Nigerian Breweries Plc
- P Z Cussons Nigeria Plc
- U A C of Nigeria Plc
- Unilever Nigeria Plc
Healthcare Sector:
- Glaxo Smithkline Plc
- May & Baker Plc
- Nigerian-German Chemicals Plc
Chemical and Paints Sector:
- Berger Paints Plc
- CAP Plc
Petroleum Marketing Sector:
- African Petroleum Plc
- Chevron Oil Plc4
- Conoil Plc
- Mobil Oil Nigeria Plc
- Oando Plc
- Total Nigeria Plc
Others:
- Japaul Oil & Maritime Services Plc
- R T Briscoe (Nigeria) Plc
- Starcomms Plc
- Vitafoam Plc
