Project 01
Industrial Goods Sector Report
Published: 01 September 2026
An in-depth overview of the Nigeria Industrial Goods sector, Highlighting the opportunities, risks and future outlook of the sector for H2 2026 and beyond.
Project 02
HBM Nigeria Plc Equity Research Report
Published: 25 August 2026
A full initiation-style coverage report on HBMNG Plc, covering the business and sector overview, financial statement analysis, and its valuation. It is built to reach a defensible view on whether the stock is fairly priced.
Recommendation
This was a case of a good business trading at a high valuation. The company is structurally strong and financially stable. However, at its market price as of 13 August 2026, the stock appears overpriced.
Project 03
Nestlé Nigeria Plc Equity Research Report
Published: 30 June 2026
A full initiation-style coverage report on Nestlé Nigeria, covering the business and sector overview, financial statement analysis, and its valuation. It is built to reach a defensible view on whether the stock is fairly priced.
Recommendation
Continued operational improvements support earnings growth. However, downside risks from currency volatility, input cost pressures and consumer weakness justify a neutral recommendation.