is...living
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this will break .20 today
big bids coming, buy the dip,
ask very thin
This is going to dollars
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Confronted with the challenge of housing over 170 million people, various governments had through national development plans made frantic efforts towards ensuring adequate mass housing, especially in urban areas.
However, such efforts at addressing the deficits had not yielded the desired results, leaving the country with huge housing deficits estimated at over 17 million units.Also, the World Bank in 2016 projected that the country required about 700,000 housing units every year to curb this deficit.
According to the World Bank, it would cost the country about N59.5 trillion to address the housing deficits in the country as about 108 million Nigerians are estimated to be homeless, based on an average family of six people per housing unit.With the prevailing situation, it is apparent that the real estate sector required aggressive private sector intervention, especially in the area of building materials, which are major components in housing delivery.
It is in the light of this that the news of Ibeto cement ’s historic reverse merger with Century Petroleum Corporation, a United States of America publicly traded petroleum exploration and production company is heartwarming.Incidentally, a report by Morgan Stanley, a United States multinational financial services firm states that “cement consumption per capita tends to rise initially with rising GDP per capita but then falls as countries mature economically.” The country’s construction industry/sector is only 3.2 per cent of the Gross Domestic Product, GDP. Drawing from this fact, World Bank statistics confirm 60% of Nigeria’s estimated population of over 180 million (projected to grow between 3.8per cent and 4.5 per cent per annum) is caught in the trap of homelessness. Massive urbanization and infrastructural development are thus in the visible horizons.
The merger bestrides two key sectors of the Nigerian economy: cement as well as petroleum.While it is popular knowledge that latter remains at the core of our national economy, cement is also a key indicator of any economy.It has long been traditional economic wisdom that the sufficiency of housing or lack therefore in a country is directly proportional to its level of economic development.
As it is in Nigeria so in Africa generally: African nations are currently at the low end of cement consumption relative to other emerging economies.With growing populations, it is predicted that consumption of cement in Sub-Saharan Africa will grow by an average of between 7 per cent and 10 per cent year on year over the next two decades. Yet, Nigeria and Senegal are the only two countries in the entire West African sub region that are blessed with limestone deposits in commercial quantities.
The merger has also made Ibeto a global player in cement world production, which presents huge boost towards mitigating the nation’s housing problems.Speaking on this milestone, Dr. Cletus M. Ibeto, who had already taken over as Chairman of the Board of Directors, said: “this is in line with our collective dreams to place Nigeria in its rightful place in the comity of nations”.
this is ready to pop
might gap today
this going back to .30
agree .15-.20 tomorrow
15-20 this week
its only down 2 points from yesterday,
wow shes tanking, wonder where shel lvl off
green all day
theres nothing on the ask, so thin it should run
thin right to 31
3s falling
ivery thin ask
back to 4s today
boom huge buys
ask is so thin
going back into 3s
gonna run today
there is alot of catalist here, way undervalued, low os, low float, yesterday was a healthy consolidation, higher highs, higher lows, next few weeks be very interesting/ exciting GLTA
this will run this week
where is the catalyst here, am i missing something
5s we will see today
ask is thinning,
7.5 mil bid support @.0039
new hod coming
just need to push through profit takers
lol its all over the place
bids building and thinnest ask iv seen
shes thin, gonna breakout
45s getting thinner, early profit takers, crazzzzy to sell
gonna break 5s fast
wow very thin
lol really
thats over half the os
great day
very nice
very thin ask, gonna see 4s today