Weekly Report and Stock Recommendation

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Oil up 1% as Iran threatens to hit Gulf power plants over Trump warning

Oil prices rose on Monday after Iran’s Revolutionary Guards said they would target Israel’s power plants and those supplying U.S. bases in the Middle East in retaliation against any attack on its electricity sector. Brent crude futures were up $1.15, or 1%, at $113.34 a barrel by 0957 GMT. U.S. ​West Texas Intermediate was up 79 cents, or about 0.8%, at $99.02. Both contracts had swung $1 lower after an ​early $1 gain in volatile Asian trade……….REUTERS.COM

Wall St Week Ahead Persistent Iran war, energy price surge set to sway wavering stocks.

A Middle East crisis that has convulsed markets should remain the focal point for Wall Street in the near term, as investors stay glued ​to developments in Iran and the fallout from surging energy prices. As the U.S.-Israeli war on Iran stretches to three weeks, an over 40% jump in oil prices is driving worries ‌about higher inflation and stagnating economic growth…………REUTERS.COM

Nigerian stocks enter historic super-cycle

The Nigerian equity market has entered a historic “Super-Cycle of 2026, with the benchmark index crossing new psychological frontiers and market capitalization reaching all-time highs. Latest market action showed that the NGX has entered a volatile but rewarding phase with fiscal reforms and a positive re-rating of global institutional investors as of Mid-March 2026. The NGX All-Share Index (ASI) displayed phenomenal growth from a breakout phase in 2024 and is now in an extended bull run…………NAIRAMETRICS.COM

Below is the summary of our recommendations for the week. For detailed review, kindly click the link to see our recommendations for 23032026.

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Oil prices surged around 25% on Monday to their highest since mid-2022, with Brent on track ‌for a record one-day gain, while gold fell 2% as an escalating Iran war squeezed world energy supplies, boosted the dollar and dampened hopes of interest-rate cuts. Agriculture markets, led by edible oils, rose as they took their cue from oil prices due to the extensive use ​of vegetable oils in making biofuels. Aluminium firmed on supply worries even as other metals faced headwinds from ​a stronger dollar…………..REUTERS.COM

Fresh signs of labor weakness and oil-driven inflation concerns are cornering U.S. Federal Reserve officials into an uncomfortable choice: leave borrowing costs steady to ensure that inflation does not worsen or ​cut them to shore up a job market that is losing ground. For now, they look poised to wait, even as traders ramped up bets that rate cuts will start ‌in June. That is when President Donald Trump’s nominee for Fed chair, former Fed Governor Kevin Warsh, is expected to take over from current Fed Chair Jerome Powell as lead policymaker at the U.S. central bank………..REUTERS.COM

The Central Bank of Nigeria (CBN) has disclosed that 30 banks have already met the new minimum capital thresholds introduced under its ongoing banking sector recapitalisation programme. The update was contained in a statement issued on Friday by the Acting Director of Corporate Communications at the CBN, Hakama Sidi-Ali. According to the apex bank, the recapitalisation drive, which began in 2024, is progressing across the industry as financial institutions strengthen their capital bases through various fundraising strategies…………..NAIRAMETRICS.COM

Below is the summary of our recommendations for the week. For detailed review, kindly click the link to see our recommendations for 09032026.

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The United States and Israel launched strikes on Iran on Saturday that killed Supreme Leader Ali Khamenei and plunged the Middle East into a new conflict. The strikes put nearby oil-producing Gulf Arab countries on edge as fear of escalation grew with Iran responding by launching missiles towards Israel. Some oil majors and top trading houses suspended crude oil and fuel shipments via the Strait of Hormuz because of the attacks, four trading sources said on Saturday………..REUTERS.COM
U.S. economic growth slowed more than expected in the fourth quarter, with government spending posting its biggest decline since 1972 because of last year’s shutdown, but steady consumer and business outlays underscored the economy’s resilience. Most of the drag on gross domestic product from the 43-day shutdown, however, will likely be reversed in the first quarter…………REUTERS.COM
Nigeria’s economy grew by 4.07 per cent year-on-year in real terms in the fourth quarter (Q4) of 2025. This is according to the latest Gross Domestic Product (GDP) report released by the National Bureau of Statistics (NBS) on Friday. The growth rate represents an improvement from the 3.76 per cent recorded in the corresponding period of 2024, signalling a stronger year-end performance…………..NAIRAMETRICS.COM
Below is the summary of our recommendations for the week. For detailed review, kindly click the link to see our recommendations for 02032026.

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Oil prices fell over 1% on Monday as the U.S. and Iran prepared for a third round of nuclear talks, easing fears of an escalating conflict, while President Donald Trump‘s fresh tariff hikes created uncertainty for global growth and fuel demand. Brent crude futures slid 73 cents, or 1%, to $71.03 a barrel by 0849 GMT while U.S. West Texas Intermediate crude futures were at $65.73 a barrel, down 75 cents, or 1.1%………..REUTERS.COM

President Donald Trump said on Saturday he will raise a temporary tariff from 10% to 15% on U.S. imports from all countries, the maximum level allowed under the law, after the U.S. Supreme Court struck down his previous tariff program. The move came less than 24 hours after Trump announced a 10% across-the-board tariff on Friday after the court’s decision. The ruling found the president had exceeded his authority when he imposed an array of higher rates under an economic emergency law……….REUTERS.COM

Nigeria’s headline inflation rate moderated slightly to 15.10% in January 2026, down from 15.15% recorded in December 2025, according to the latest Consumer Price Index report released by the National Bureau of Statistics (NBS). The marginal decline of 0.05 percentage points suggests a continued slowdown in price pressures at the start of the year, following several months of easing inflation. On a year-on-year basis, inflation dropped significantly compared to the same period last year. The January 2026 rate of 15.10% is 12.51 percentage points lower than the 27.61% recorded in January 2025…………NAIRAMETRICS.COM

Below is the summary of our recommendations for the week. For detailed review, kindly click the link to see our recommendations for 23022026.

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Oil traded little changed on Monday, with investors weighing the market implications of upcoming U.S.-Iran talks aimed at de-escalating tensions against a backdrop of expected OPEC+ supply increases. Brent crude futures edged down 3 cents to $67.72 a barrel by 0727 GMT. U.S. West Texas Intermediate crude was at $62.86 a barrel, down 3 cents. There will be no WTI settlement on Monday due to a U.S. holiday…..……REUTERS.COM

U.S. consumer prices increased less than expected in January amid cheaper gasoline and a moderation in rental inflation, but households faced higher costs for services, suggesting little urgency for the Federal Reserve to resume cutting interest rates before summer. The Consumer Price Index report from the Labor Department on Friday showed underlying inflation pressures warmed up last month, likely as businesses pushed through start-of-the-year price increases for goods and services, including personal care, recreation as well as airline fares and hospital services…………REUTERS.COM

Nigeria’s National Pension Commission (PenCom) has raised the allowable investment limits for ordinary shares across key Retirement Savings Account (RSA) fund categories. The adjustment was announced in an addendum released on Monday, February 9, 2026, to the Revised Regulation on Investment of Pension Fund Assets originally issued in September 2025. The move is aimed at improving asset allocation efficiency, especially with the noted absence of qualifying assets, especially in alternative assets…………..NAIRAMETRICS.COM

Below is the summary of our recommendations for the week. For detailed review, kindly click the link to see our recommendations for 16022026.

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Oil prices fell more than 1% on Monday as fears of a Middle East conflict eased after the U.S. and Iran pledged to continue indirect talks about Tehran’s nuclear programme, calming worries about potential supply disruptions. Brent crude futures fell 84 cents, or 1.2%, to $67.21 a barrel by 0747 GMT on Monday, while U.S. West Texas Intermediate crude dropped 82 cents, or 1.3%, to $62.73………REUTERS.COM

An artificial intelligence-driven shakeout in the heavyweight technology sector is set to keep stock investors on edge in the coming week while a barrage of data could shift focus to the health of the economy. A deepening rout among software stocks commanded Wall Street’s attention this week, as investors worried about the extent to which AI would upend business models throughout the industry. Further weakness in the tech sector, which holds massive weight in the major U.S. equity indexes, dragged on the market for much of the week………..REUTERS.COM

Nigeria’s fixed-income market strengthened on February 5, 2026, as Treasury bills and Federal Government bond yields declined across key maturities, lifting the total size of the FMDQ debt market to N99.30 trillion. Data from the FMDQ Securities Exchange showed that improved system liquidity and reduced reliance on aggressive short-term issuance supported yield compression, pointing to softer borrowing costs despite the Central Bank of Nigeria’s (CBN) tight monetary policy stance………….NAIRAMETRICS.COM

Below is the summary of our recommendations for the week. For detailed review, kindly click the link to see our recommendations for 09022026.

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Oil prices fell nearly 5% on Monday and were heading for the steepest single-session decline in more than 6 months, after U.S. President Donald Trump said Iran was “seriously talking” with Washington, signalling de-escalation with an OPEC member. Brent crude futures were down $3.38, or 4.9%, at $65.94 per barrel at 0528 GMT. U.S. West Texas Intermediate crude fell $3.33, or 5.1%, to $61.88 per barrel…………..REUTERS.COM

The Federal Reserve held interest rates steady on Wednesday amid what U.S. central bank chief Jerome Powell described as a solid economy ​and diminished risks to both inflation and employment, an outlook that could signal a lengthy wait before any further reductions in borrowing costs. “The economy has once again surprised us with its ‌strength,” Powell said at a press conference after Fed policymakers voted 10-2 to hold the central bank’s benchmark interest rate in the 3.50%-3.75% range following a two-day meeting…………..REUTERS.COM

The Central Bank of Nigeria (CBN) has upgraded the licences of selected FinTechs and Microfinance Banks (MFBs) with nationwide operations to national status. The disclosure was made by Mr. Yemi Solaja, Director of the Other Financial Institutions Supervision Department (OFISD) at the CBN, during the just concluded annual conference of the Committee of Heads of Banks’ Operations (CHBOs) in Lagos. This development is aimed at aligning licensing structures with the actual operational footprint of FinTechs and MFBs whose services now span across Nigeria, ensuring proper regulatory oversight………….NAIRAMETRICS.COM

Below is the summary of our recommendations for the week. For detailed review, kindly click the link to see our recommendations for 02022026.

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Oil prices settled at their highest in over a week on Friday after U.S. President Donald Trump ratcheted up pressure against Iran through more sanctions on vessels that transport its oil, and announced an armada was heading towards the Middle Eastern nation. Brent crude futures rose $1.82, or 2.8%, to settle at $65.88 a barrel, the highest since January 14. U.S. West Texas Intermediate crude gained $1.71, or 2.9%, at $61.07, also a more than one-week high………REUTERS.COM

U.S. equity funds faced outflows in the week through January 21 as investors reduced risk ​exposure on concerns about President Donald Trump’s tariff threats ‌against European nations over Greenland. Investors pulled a net $5.26 billion from U.S. equity funds, partly reversing the roughly $28.17 billion of net purchases made the previous week……..REUTERS.COM

Nigeria’s external reserves have crossed the $46 billion mark for the first time in about eight years, highlighting the steady accretion in reserve levels since 2025. The development is based on the latest external reserves data released by the Central Bank of Nigeria dated January 22, 2026. The reserve build-up signals stronger buffers for import cover and currency stability as the country heads into a pre-election year……….NAIRAMETRICS.COM

Below is the summary of our recommendations for the week. For detailed review, kindly click the link to see our recommendations for 26012026.

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Oil prices fell 1% on Monday, reversing the previous session’s gains, as civil unrest in Iran subsided, lowering the chance of a U.S. attack that could disrupt supply from the major Middle Eastern producer. Brent crude was trading at $63.48 a barrel at 0912 GMT, down 65 cents or 1%. U.S. West Texas Intermediate for February fell 65 cents, or around 1%, to $58.84 a barrel. The contract expires on Tuesday, and the more active March contract was at $58.77, down 57 cents, or 1%………REUTERS.COM 

Investors will be counting on a strong corporate earnings season to keep the U.S. stock market rally ​intact as they digest a wave of domestic policy proposals and heightened geopolitical tensions to start the year. After banks and other financial firms kicked ‌off fourth-quarter reports, a more diverse set of companies, including Netflix,  Johnson & Johnson  and Intel will post results in the coming week……….REUTERS.COM

Nigeria’s headline inflation eased sharply to 15.15% in December 2025, following a methodological review by the National Bureau of Statistics, signalling a significant moderation in price pressures compared with both the previous month and the same period last year. Data from the latest Consumer Price Index report showed that the CPI rose to 131.2 points in December from 130.5 points in November, indicating a slower pace of increase in average prices across the economy. On a year-on-year basis, headline inflation fell to 15.15% in December 2025 from 17.33% in November and was far lower than the 34.80% recorded in December 2024. This reflected a sharp deceleration in inflation over the twelve-month period……..NAIRAMETRICS.COM

Below is the summary of our recommendations for the week. For detailed review

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STOCK RECOMMENDATION

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Global Economic Roundup

Oil Prices Are Set To Rise Throughout 2023

Crude oil prices started last week with a loss. The reason for that initial weekly loss came down to overall global economic growth pessimism and expectations that the U.S. Federal Reserve will continue raising interest rates, making the dollar more expensive and sapping demand for dollar-priced crude. But by the end of Monday, oil prices had rebounded and were trading higher. The reason is that comments from attendees at the Cambridge Energy Research Associates Week (CERAWeeek) industry conference suggested that supply will tighten before too long. Just another week in oil, some would say, and indeed, oil prices fluctuate constantly, to such an extent it is extremely difficult to predict them with any accuracy, especially over a shorter period of time. Yet it does bear pointing out that most forecasters seem to expect higher prices for oil later this year. There appears to be broad consensus on this. Some, such as Forbes’ Bill Sarubbi, note the technical data of oil trading to suggest prices are going to go higher. In a recent story, Sarubbi said that historical data shows oil prices tend to rise between March and May most of the time, so it makes sense to expect them to rise this year as well. Others, such as Refinitiv, the data analytics firm, single out two factors that will drive prices on the supply and demand sides, respectively: Russia and China. And Refinitiv expects Brent crude to rise above $100 per barrel by the end of the year and average $90 for the full year 2023.

Eurozone Economy Stalled in Q4

The Eurozone economy failed to grow in the final quarter of 2022, compared with preliminary estimates of 0.1% growth and upwardly revised 0.4% expansion in the previous three-month period. Household consumption slumped by 0.9% and gross fixed capital formation tumbled 3.6%, as stubbornly high inflation, rising borrowing costs, and supply chain bottlenecks hit activity and demand. Meanwhile, government spending rose by 0.7% and net external demand contributed positively to the GDP as exports inched 0.1% higher and imports were 1.9% lower. Inventory changes have also added 0.1pp to the GDP. Amongst the bloc’s largest economies, the GDP grew in the Netherlands, Spain, and France, but contracted in Germany and Italy.

CBN’s Open Banking Could Spur Tighter Competition 

In a recent circular, the Central Bank of Nigeria issued operational guidelines for open banking in Nigeria. The new policy allows financial service providers to access the banking history of prospective customers with other banks. This would be through application programming interfaces (APIs), and with the explicit consent of the customers. It basically allows customers to share their banking data with other financial service providers, enabling them to access a wider range of products and services. Analysts say the initiative would further ensure the deepening and stability in the nation’s financial system. Through the Open Banking Registry which the CBN would establish and manage, the regulatory oversight would be enhanced. The most important gain derivable from the new data-sharing policy is the degree of competition and a greater level of efficiency that would be promoted among banks. While the recent circular on Open banking has generated interest among fintech entrepreneurs nevertheless, for open banking to function well, developers will need to find solutions to integration issues that may make it impossible to communicate financial data securely and seamlessly.

Some of our recommended stocks are mentioned below;

FIDSON:

Fidson FY 2022 results showed an increase in revenue by 31.67% from N30.86bn in FY 2021 to N40.63bn in FY 2022. Operating profit advanced from N5.86 bn in FY 2021 to N7.38bn in FY 2022, reflecting an increase of 25.93%. Profit before tax went up by 20.45% from N4.71bn FY 2021 to N5.68bn in the current period. Profit after tax grew by 18.65% from N6.09bn in FY 2021 to N7.22bn in FY 2022. EPS grew by 1.69% to N1.81 in FY 2022 from N1.78 in FY 2021. Fidson has a BVPS of N7.34, P/BV of 1.34x, and P/E ratio of 5.44x.

MAY & BAKER:

May & Baker FY 2022 results showed an increase in revenue by 20.39% from N11.90bn in FY 2021 to N14.32bn in FY 2022. Operating profit advanced from N1.70bn in FY 2021 to N2.26bn in FY 2022, reflecting an increase of 32.86%. Finance cost increased by 23.92% to N330 million in FY 2022 from N266 million and interest income increased by 332.03% from N59million in FY 2021 to N256 million in FY 2022. PBT went up by 48.03% from N1.46bn in FY 2021 to N2.16bn in the current period. PAT grew by 64.90% from N1.04 billion in FY 2021 to N1.73 billion in FY 2022, despite a 4.94% surge in taxes. EPS grew by 63.93% to N1.00 in FY 2022 from N0.61 in FY 2021. May & Baker has a BVPS of N4.74, P/BV ratio of 0.95x and P/E ratio of 4.5x.

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