Nigerian stocks slid by 1.6 per cent last week, following profit-taking activities across all sectors except oil & gas.

The Insurance Index was worst hit, declining by 5.5 per cent, and remains the only sector index so far this year with a negative yield.

“Stocks with strong earnings, attractive valuations and consistent dividend payouts should also remain in focus,” investment bank United Capital Plc said in a note to investors ahead of the week.

This week, focus will shift to the primary market, where the landmark $1.6 billion initial public offering of Dangote Refinery will be commencing.

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.

Transnational Corporation (Transcorp)

Transcorp tops this week’s list for its strong fundamentals and for trading below its intrinsic value. The net profit ratio (NPR) of the conglomerate is 24.7, while the price-to-earnings (PE) ratio is 4.5x. Its 10-day relative strength index (RSI) is 31.5.

AXA Mansard

AXA Mansard appears on the pick on the basis of its attractive fundamentals. The NPR of the insurer is 3.4, while the PE ratio is 29.8x, while the RSI is 47.3.

Guaranty Trust Holding Company (GTCO)

GTCO makes the selection for its strong fundamentals and for trading below its intrinsic value. The banking group’s NPR is 37.4, while the PE ratio is 5.4x. Its RSI is 47.8.

ALSO READ: Stanbic IBTC, Mutual Benefits, Aradel top stock picks this week

NPF Microfinance Bank

NPF Microfinance Bank makes the cut for its sound fundamentals. The PE ratio of the micro-lender is 7.2x, while the RSI is 22.5.

Neimeth

Neimeth makes the cut for its sound fundamentals. The NPR of the pharmaceutical company is 12.2, while the PE ratio is 33.2x. The RSI is 40.8.

Reno Omokri, ambassador-designate to Mexico, has defended President Bola Tinubu over questions surrounding his primary and secondary school education, saying many Nigerians of his generation did not attend regular schools.

Omokri made the statement on Sunday while appearing on Channels Television’s Politics Today programme.

He said some Nigerians were homeschooled during the period when Tinubu would have attended primary and secondary school, arguing that the absence of conventional school certificates should not be a major issue.

“Are you aware that at the time the president went to primary school, at the time the president would have gone to primary school, secondary school, most Nigerians were not going to regular schools; a lot of them were being homeschooled,” Omokri said.

He challenged critics questioning Tinubu’s educational background to produce evidence of their own primary school classmates.

“If you ask some of these opponents of the president to produce their primary school classmate, they cannot,” he said.

Omokri also cited his own family as an example, noting that his child is homeschooled and that his Ethiopian wife was also homeschooled.

He maintained that Tinubu is qualified to hold the presidency and seek re-election in 2027.

“We know for a fact that the president is qualified for the position he’s holding, for the position he wants to be reelected to,” he said.

On Tinubu’s tertiary education, Omokri referred to the president’s attendance at Chicago State University, saying the institution’s registrar testified in court and confirmed that Tinubu was admitted, attended and graduated from the university.

“He went to Chicago State University. The registrar of that school went to court, and they confirmed that Tinubu was admitted, attended, and graduated from that school. That is enough,” Omokri said.