Nigeria’s largest listed firms have seen their web money movement from working actions lowered to N577.95 billion in March 2022 because of the financial downturn within the nation.
This represents a 29.98 p.c drop when in comparison with the N825.52 billion web money movement stood as at March 2021.
A breakdown of the money place by sector exhibits the cumulative web money movement from operations of the most important shopper items companies lowered by 75.04 p.c to N51.12 billion in March 2022 from N204.84 billion the earlier yr.
The laggards had been Nestle Nigeria, 4 Mills, Nigerian Breweries, and Honeywell, who posted adverse web money movement from operations of N10.01 billion, N28.89 billion, Nigerian Breweries, N3.90 billion, and N553.03 million, respectively.
The typical trade money margin lowered to 12.18 p.c within the interval below assessment from 21.91 p.c the earlier yr.
The dominant gamers within the cement sector: BUA Cement, and Lafarge Africa noticed their mixed web money movement dip by 32.64 p.c to N248.60 billion as at March 2022.
In the meantime, the Producers Affiliation of Nigeria (MAN) has expressed fear over the latest astronomical improve within the worth of diesel, noting that it portends adverse penalties for the manufacturing sector and the bigger financial system.
MAN in a press release signed by its Director-Common of MAN, Segun Ajayi-Kadir, requested the federal authorities to concern its members licenses to import diesel from the Republic of Niger and Chad with a view to avert the avoidable monumental paralysis of producing actions that would come up from complete shut down of manufacturing operations.
Ajayi-Kadir identified that Nigerian producers are fearful in regards to the implications of the over 200 per cent improve within the worth of diesel on the Nigerian financial system and the manufacturing sector.
Aside from the excessive power value which had been necessitated by the epileptic energy provide and the sharp improve in the price of diesel, the manufacturing sector had been confronted with the challenges of shortage of international change, excessive value of manufacturing feeds, and drop in gross sales occasioned by decrease disposable earnings, amongst a number of others.
In the meantime, funding into the Nigerian capital market took a nosedive final week, with buyers buying and selling 822.404 million shares value N10.366 billion in 20,643 offers inside 5 days.
This fell wanting earlier week turnover of 1.348 billion shares valued at N24.487 billion that exchanged palms final week in 22,155 offers.
The Monetary Companies Trade, Conglomerates Trade and Shopper Items Trade had been the very best performing sectors after 5 days of buying and selling by measure of volumes traded.