Business

Coronation Insurance, MTN Nigeria, C & I Leasing top stock pick this week

Published

3 months ago

March 30, 2026

Preport

Nigerian stocks paused their run of gains last week, dipping by 0.12 per cent as profit-taking in banking stocks weighed on market performance. That is no reason for concern though, with investors’ confidence still substantial and 29.1 per cent yield so far recorded by the market as the first quarter draws to a close.

“We expect the market to maintain its positive trend as no immediate risks are likely to disrupt the prevailing bullish sentiment,” analysts at Meristem Securities said in a note to investors during the week.

“Any profit-taking is expected to be mild and unlikely to change the market’s upward direction,” they added.

PREMIUM TIMES has assembled some stocks with sound fundamentals, adopting rigorous approaches to save you the risk of picking equities at random for investment.

The pick, a product of an analytical market watch, offers a guide to entering the market and taking strategic positions, with the expectation that selected stocks will record reasonable price appreciation with the passage of time.

This is not a buy, sell or hold recommendation but a stock investment guide. You may need to involve your financial advisor before taking investment decisions.

Coronation Insurance

Coronation Insurance tops this week’s list on the basis of its strong fundamentals and its potential for price appreciation in the short term as indicated by its low relative strength index (RSI).

The net profit ratio (NPR) of the underwriter is 9.2 per cent, while the price-to-earnings (PE) ratio is 10.8x. Its RSI is 44.6.

MTN Nigeria

MTN Nigeria makes the cut for its attractive fundamentals and for its prospect for short-term price appreciation. The NPR of the telecom giant is 7.8, while the PE ratio is 2.4x. Its RSI is 73.7.

C & I Leasing

C & I Leasing makes the pick for trading below its underlying value. The company’s the PE ratio is 7.7 and its RSI is 35.8.

ALSO READ: UBA, NPF Microfinance Bank, Lafarge top stock pick this week

Cadbury

Cadbury appears on the pick on the basis of its robust fundamentals. The NPR of the food company is 7.1, while the PE ratio is 11.9. The RSI is 38.8.

Sterling Financial Holdings

Sterling Financial Holdings makes the selection for trading below its intrinsic value. The banking group’s NPR is 16.5 per cent, while the PE ratio is 4.8x. Its RSI is 53.7.

Business

FG debunks claims of plans to introduce telecoms, fuel taxes

Published

8 hours ago

June 18, 2026

Preport

The Federal Government has dismissed reports suggesting it plans to introduce new taxes on telecommunications services and petroleum products, saying the claims are false and misleading.

The Federal Ministry of Finance disclosed this on Wednesday in a statement signed by Maryann Duke, senior special assistant on communications and press secretary to the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele.

It said the reports, which linked the proposed taxes to the International Monetary Fund (IMF) Article IV Consultation on Nigeria, do not reflect its position.

According to the government, the recommendations contained in the IMF report are advisory and do not constitute policy decisions or binding actions for Nigeria.

“The Federal Government is not considering the introduction of any new taxes on telecommunications services or petroleum products,” the statement said.

Fuel tax rules remain unchanged.

The government also clarified that existing tax arrangements on petroleum products remain in place.

It said the Value Added Tax (VAT) waiver on fuel has not been removed and is still active.

It also explained that any fuel surcharge can only take effect through a ministerial order published in the Official Gazette, adding that no such action is being considered.

According to the statement, the current arrangements have helped cushion the impact of global fuel price changes on Nigerian households and businesses.

Telecoms excise duty

On telecommunications, the government said the excise duty introduced before 2023 has already been repealed under the new tax laws.

It added that the tax is, therefore, no longer in force.

The ministry urged Nigerians, media organisations and businesses to disregard claims about new telecoms and fuel taxes.

It said Nigeria’s tax policy remains focused on improving revenue collection, supporting economic growth, and attracting investment, rather than increasing the tax burden on citizens.

The ministry added that any future tax changes would be communicated through official channels and implemented strictly in line with due process.

Business

Supreme Court Upholds APP’s Registration, Ends Deregistration Battle Ahead of 2027 Elections

Published

16 hours ago

June 17, 2026

Preport

BY NKECHI NAECHE-ESEZOBOR—The Supreme Court has brought an end to the legal dispute over the status of the Action Peoples Party (APP), affirming that the party remains duly registered and eligible to take part in the 2027 general elections.

The apex court struck out Appeal No. SC/CV/248/2026 after the appellant, Mr Blessing Elujiuba, voluntarily withdrew the case, bringing the challenge to a close.

This decision leaves intact earlier judgments delivered by both the Federal High Court and the Court of Appeal, which had upheld the party’s legal recognition.

The ruling was delivered on May 12, 2026, by a five-member panel of the Supreme Court led by Justice John Inyang Okoro, who noted that the matter was withdrawn without objection from other parties.

The court subsequently dismissed the appeal following its withdrawal, formally ending the proceedings at the apex level of the judiciary.

The case involved the Independent National Electoral Commission (INEC), the Action Peoples Party (APP), and the party’s National Chairman, Uche Kingsley Nnadi.

The initial legal action had sought to force INEC to remove APP from its register on the allegation that it failed to meet constitutional requirements under Section 225A of the 1999 Constitution.

However, earlier rulings had found that APP met the necessary legal conditions for continued registration, citing evidence of electoral participation and victories at local government level.

The courts also upheld the interpretation that fulfilling any of the conditions outlined in Section 225A is sufficient for a political party to retain its registration status.

With all tiers of the judiciary aligned in its favour, APP’s legal standing remains intact, clearing the party to continue preparations for the 2027 elections without any outstanding court challenge.

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