• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Sunday, August 31, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

Banking, Industrial Goods Sectors To Maintain Growth Trajectory In 2023

by Olushola Bello
3 years ago
in Business
banking
Share on WhatsAppShare on FacebookShare on XTelegram

Financial sector, Industrial goods, among other sectors have been said to maintain their growth trajectory in the current year, 2023.

Advertisement

This was made known by Cordros Securities Limited in its report titled ‘Nigeria in 2023; Charting Through a Pervasive Slowdown’.

The report identified Financial Sector, Industrial Goods, Agricultural, Consumer Goods and Oil and Gas sectors to be the drivers of stock market performance in the year under review.

It added that, “for 2023 full year, we believe Nigerian banks will maintain their growth trajectory supported by core income, owing to higher loans and investment securities yields. Although, we think banks will be cautious about growing loans domestically in 2023 full year as the tight monetary conditions will likely limit risk asset creation.

“On the external front, Moody’s downgraded nine Nigerian bank’s long-term ratings based on the weakening in the Nigerian government’s fiscal capacity to support the country’s banks, and interlinkages between the sovereign’s weakened creditworthiness and the banks’ balance sheets, given the banks’ significant holdings of sovereign debt securities.

RELATED

Ojulari’s First 100 Days at NNPC Ltd: A Bold Start Anchored On Reform, Transparency, And Clean Energy

Petroleum Marketers Warn Of Oil Market Structure Disruption

10 hours ago
5 Most Lucrative Businesses In Nigeria For 2024

Naira Sees Slight Improvement In August With Reserves Rising

10 hours ago
ADVERTISEMENT

“Although, we expect non-core income to support earnings in 2023 full year, albeit marginal, as the price sharing and glitch on the e-banking platforms will continue to impact the performance.”

Cordros Securities said: “we believe this will negatively impact Nigerian banks looking to raise debt externally.”

On the Industrial Goods sector, the research firm said: “we envisage solid growth in revenue for firms under our radar on the back of higher prices of cement and leverage of exportation strategy.

ADVERTISEMENT

“On the flip side, we highlight that the higher inflationary environment will continue to pressure the operational activities of firms in the industry. Consequently, we believe companies that can maintain operational efficiency and optimise plants to enhance fixed cost absorption will be better placed to deliver decent earnings in 2023.”

The firm further said, despite the challenging operating landscape, factors such as CPO, import restrictions amid current FX liquidity challenges and long-term sector growth prospects remain favourable for Agricultural sector players.

“Thus, we remain optimistic about Okomu Oil and Presco. For Okomu Oil, though we do not expect a significant increase in its maturities, we believe the upgrade of the milling capacity at the Okomu II plantation will cause an improvement in its production efficiency and in turn, its volumes, while for Presco, we expect the producer to deliver revenue expansion supported by improved volumes,” it stressed.

On Consumer Goods sector, Cordros Securities expected the agro-allied and the brewery subsectors will lead the next growth phase, saying, “accordingly, we see scope for earnings growth for Agro-allied names; Flour Mills Nigeria, AASCON Allied Industries and Dangote Sugar Refinery given the inelastic demand facing their products and the ability to implement more significant price increases than peers.

“On Oil & Gas (Downstream)sector, we expect the price cap on PMS to remain in place, though we acknowledge the possibility of a hike in the product’s price. We expect the NNPC to remain the sole supplier of the market, pending the potential commissioning of the Dangote Refinery in 2023.”


Join Our WhatsApp Channel



SendShare10174Tweet6359Share
ADVERTISEMENT
Previous Post

‘Inadequate Downstream Investment Cause Of Persistent Petrol Scarcity’  

Next Post

BUA Foods, Wema Bank Join NGX 30 Index

Olushola Bello

Olushola Bello

You May Like

Ojulari’s First 100 Days at NNPC Ltd: A Bold Start Anchored On Reform, Transparency, And Clean Energy
Business

Petroleum Marketers Warn Of Oil Market Structure Disruption

2025/08/31
5 Most Lucrative Businesses In Nigeria For 2024
Business

Naira Sees Slight Improvement In August With Reserves Rising

2025/08/31
‘What Nigeria Should Do To Advance Gas Sector Growth’
Business

Group Offers Path To In-country Oil & Gas Training

2025/08/31
WiM-Africa Lists Gains, Sets Goals
Business

Women In Mining Firm Up Plan To Resolve Sectoral Challenges

2025/08/31
MTN Allots Incentive Shares, As Trading Opens With N4bn Loss
Business

MTN Nigeria Launches Initiative To Promote Online Safety For Children

2025/08/31
Firm Seeks Stronger Laws, Govt Collaboration To Improve Safety Practices
Business

Firm Seeks Stronger Laws, Govt Collaboration To Improve Safety Practices

2025/08/31
Leadership Conference advertisement

LATEST

‎NPF Mourns Passing Of Ex-IGP Solomon Arase

WFP: Amb Chinedu Anthony Leads IAWPA Delegation To Italy

Atalanta Insist On Ademola Lookman, Forbid Loan Moves

Northern CAN Condemns Killing Of Woman Over Blasphemy Claim

Okpeholo Mourns Ex-IGP Arase

Akwa Ibom Gov’t Probes Death Of Mother, Newborn At Ikot Ekpene Hospital

Petrol Tanker Explosion Sparks Fire, Guts 4 Trucks In Lagos

NIPOST Reassures Customers Of Efficient Services Despite US Regulatory Adjustment

Cleric Urges Youth To Stay Prayerful For Nigeria’s Progress

SERAP Demands Reversal Of Passport Fees Hike

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.