MTN Nigeria PLC currently trades at 10x forward profit. Meanwhile, the stock has historically traded at 11x. This generally implies that there might be some 11% price upside.
However, MTNN's growth in recent times has been phenomenal. In the past, a 15x P/E was adjudged to be the fair multiple for the coy, given its stellar growth trends (driven by "structural demand" for data), market share, and cash generation.
The market had hoped that the mobile money licence was probably going to propel the coy to 15x multiple levels.
"Sadly", the Nigerian mobile payments is a "bank-led" system, compared against the "telco-led" system in markets like Kenya and other major East-African countries. The momentum died when the market saw the very restrictive licence that the CBN gave the telcos.
If the market still believes that a 15x multiple is fair for an MTNN, the upside potential may really be attractive at current levels.
P.S: Not financial advice.
720 individuals recruited by UBA for its graduate trainee programme.
One company, 720 individuals.
If I assume they get ₦400k monthly, that's an estimated ₦3.5bn of income annually that is about to enter the system.
Kehinde Wiley has been a patron of exceptional architecture. His Black Rock Residence in Senegal is awesome. His door inspired an exceptionally tall door in one of my designs
At 23, with no prior experience, I turned this dilapidated building into Nigeria’s first offgrid hospital.
Here’s how (5 principles) 🧵:
📍 Enugu, Nigeria
Hmm. I have spoken a bit about Fidson lately. Maybe it's time to give May & Baker some attention.
Coy may not be as big as Fidson, but it is as profitable (and even more profitable, based on ROA). M&B's lower financial leverage is why its ROE lags. Meanwhile, a lower financial leverage appeals to me a lot because it implies lower financial risk on the balance sheet.
It's very much cheaper.
DOES CAD MAKE ONE A BETTER DESIGNER?
This is the part I want to address in this debate. The answer is no. At least not necessarily by itself, but definitely yes if all other factors are held constant. Digitalization has so many advantages that if two people are at the same level,
Oga wan show me design ideas wey she get for IG on her phone, but na woman with BBL first pop up as soon as she open screen.
Oga: Oh wow, I don't know where that came from.
Me: Oh, me too.
Oga: ......
Me: ......
🙃🙃
MAD House UNILAG is not a symbolic or didactic gesture, it is architecture as
creative engine.
Rooted in container-based modularity, local material logic, and programmatic adaptability, it offers a concrete architectural argument for
Nigeria’s creative potential.