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M. Wahab Profile
M. Wahab

@Wahaby_Agba

1,321
Followers
1,197
Following
83
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4,409
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"My loyalty is to reason and as a reasonable person I reserve the right to change my mind when presented with new information that alters my perspective"

Lagos, Nigeria
Joined September 2013
Don't wanna be here? Send us removal request.
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@Wahaby_Agba
M. Wahab
1 year
How it started 2018 (CNBC) vs. How it ended 2023 (BBC)
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@Wahaby_Agba
M. Wahab
1 year
I officially hang up my research boot today. Happy retirement soldier!!!🎉
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@Wahaby_Agba
M. Wahab
4 months
I stopped tweeting/talking like this, especially about Nigeria. Govt has been asking Nigerians to sacrifice almost all social benefits; and not a single portion of their lifestyle has changed. Remove subsidy but it's business as usual for officials to go on publicly-funded trips.
@Rotankwot
Rotus
4 months
The reality is BILLIONS (Naira) are owed to Power Generation companies because our value chain LACKS APPROPRIATE PRICING ELECTRICITY IS NOT CHEAP! Bite the bullet and face the truth! Electricity subsidies MUST GO!
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@Wahaby_Agba
M. Wahab
4 years
KPMG slander is the reason Nigerians don't disclose their income. Once they know how much you're worth per month, even your contribution to national discussions won't hold water.
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@Wahaby_Agba
M. Wahab
8 months
I have gone back to the classroom 🥹
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@Wahaby_Agba
M. Wahab
11 months
- Everyone wants to know where the liquidity will come from. - Since I started tracking the data, the CBN has lost its monopoly power in FX supply. The Apex bank can deceive itself all it wants, it never had the firepower to dictate FX pricing, hence the arbitrage opportunity.
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@Wahaby_Agba
M. Wahab
3 months
Felt cute, might delete later 😎
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@Wahaby_Agba
M. Wahab
2 months
Christian Orajekwe handed over infrastructure equity research to me in 2018, and I went on to cover infrastructure equity in CHD. Joined the Nig. Infrastructure Debt Fund (NIDF) later. Went to Business School and will join a $350bn AUM private infrastructure fund in Toronto.
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@Wahaby_Agba
M. Wahab
14 days
Very fast paced environment, infrastructure deals flying so quickly in unimaginable sizes, with insane structures, complexities, and multiple currencies. I feel incredibly lucky to be here.
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@Wahaby_Agba
M. Wahab
13 days
This is not David Kaluuya, it is Mustapha Wahab, equally smart, equally handsome 😂
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@Wahaby_Agba
M. Wahab
14 days
Very fast paced environment, infrastructure deals flying so quickly in unimaginable sizes, with insane structures, complexities, and multiple currencies. I feel incredibly lucky to be here.
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@Wahaby_Agba
M. Wahab
1 year
This is the legacy I left in equity research. Ranked number 1 among analysts covering Seplat in Africa by @Bloomberg 😎
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@Wahaby_Agba
M. Wahab
1 year
I officially hang up my research boot today. Happy retirement soldier!!!🎉
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@Wahaby_Agba
M. Wahab
9 months
I may sound hypocritical but you have to agree that we are one of the most entitled people in the world. We want subsidized everything, fuel, tertiary education, FX, electricity, housing. We can as well lie down and wait for govt to wipe our bums after toilet.
@Gidi_Traffic
GIDI
9 months
@DavidHundeyin Meanwhile: “N25,000 - N200,000+ …even if I’m doing Hookup sef…”
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@Wahaby_Agba
M. Wahab
10 months
Talking oil later today
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@Wahaby_Agba
M. Wahab
3 months
Seeing the world, one stadium at a time
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@Wahaby_Agba
M. Wahab
1 year
Feels so lucky to have had the opportunity to directly engage @CathieDWood from our Lagos office.
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@Wahaby_Agba
M. Wahab
2 years
If you grew up watching Yoruba movies, you probably have seen something like #KingofThieves before. However, the difference is that you’re now seeing it in 2022 rather than 1997. Better technology, amazing sound tracks, and picturesque screen.
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@Wahaby_Agba
M. Wahab
10 months
Fuel price is still 35% lower on average when compared to border countries, so at N617/litre we are not quite there yet, more will come. A socialist Buhari should’ve solved border issues & cut subsidy payment as a result of lower fuel consumption. I enunciated this view in 2021.
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@Wahaby_Agba
M. Wahab
10 months
@the_akinola You are tweeting at a first class economics graduate in Unilag, with 7 years experience researching Africa’s macroeconomics. Who are you?
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@Wahaby_Agba
M. Wahab
1 month
One stadium at a time. Wembley London.
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@Wahaby_Agba
M. Wahab
10 months
Fuel cost in Marrakech, on a per litre basis, is 960 in Naira equivalent.
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@Wahaby_Agba
M. Wahab
4 years
When they say "You will learn a lot in that firm", it doesn't mean they will sit you down and teach you like a toddler, it means they will give you so much work that you'll be forced to learn things that you wouldn't ordinarily know on your own.
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@Wahaby_Agba
M. Wahab
11 months
The economics we studied is a science of varying schools of thought and they co-existed. But you call yourself an economist and can’t hold an argument without being rude. There isn’t one single answer to these issues and your view is certainly not the only way
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@Wahaby_Agba
M. Wahab
5 months
Osofia in London
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@Wahaby_Agba
M. Wahab
5 months
My body is in Toronto but my soul is in London
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@Wahaby_Agba
M. Wahab
11 months
- Remove all the restrictions in the FX market, including cash dom accounts & allow Naira debit card to fulfill FX obligations - FPI may be encouraged to return to invest in Naira assets - And as with 2017, when rates moved from of N520 to N360, we may see a stronger Naira.
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@Wahaby_Agba
M. Wahab
3 years
I was on @nancyilloh show earlier today to share my thoughts on the PIB
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@Wahaby_Agba
M. Wahab
1 year
Early last year, I had this conversation with Rotus. Irrespective of who the president is, subsidy removal would have been imperative for fiscal survival.
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@Wahaby_Agba
M. Wahab
11 months
Four too much?
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@Wahaby_Agba
M. Wahab
2 years
Without downplaying the influence of fundamental, Emefiele’s careless statement is actually causing problems for the Naira, hence the speculative attacks.
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@Wahaby_Agba
M. Wahab
10 months
Let it be known that…
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@Wahaby_Agba
M. Wahab
2 years
Nigeria’s inflation is so real you can almost touch it.
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@Wahaby_Agba
M. Wahab
2 years
@UFCellular @Olawoyyin Omo 😂😂😂 Na to dey write Assalamu alaikum now o😂
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@Wahaby_Agba
M. Wahab
3 months
In the light of 400bps rate hike, how Nigeria’s economic managers differs from the US.
@Wahaby_Agba
M. Wahab
3 months
I have no thoughts on the CBN rate hike but as a retired analyst, I doubt if I would have called a 400bps.
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@Wahaby_Agba
M. Wahab
2 months
Went to an MLS game in preparation for Messi’s arrival later this year 😂
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@Wahaby_Agba
M. Wahab
2 years
I am big on reciprocity. You can not not give me anything on my birthday and be sending me birthday list.
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@Wahaby_Agba
M. Wahab
10 months
A heart to heart conversation with Yemi of Risevest. I had a wonderful experience. Thank you guys 🙏
@Risevest
Rise (Techstars 2020) 🚀
10 months
Check out the first episode of our podcast - MoneyRise: The Podcast - wherever you get your podcast. In this episode, we have investment analyst @Wahaby_Agba talk about recent economic policies - fuel subsidy removal and Naira floating - and what they mean for you. Check it out
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@Wahaby_Agba
M. Wahab
9 months
Unless we fix balance of payment, diversify export, and attract FDI, no amount of FX policies will save NGN
@Risevest
Rise (Techstars 2020) 🚀
9 months
Throwback to our podcast episode with @Wahaby_Agba as he talks about investing in dollar-denominated assets during these times. Listen to the full episode wherever you get your podcast -
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@Wahaby_Agba
M. Wahab
10 months
Anytime I tweet fuel prices in other African countries, you’ll start asking “what is their minimum wage”. Of what relevance is minimum wage in the determination of fuel price? Keep sending populist tweets.
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@Wahaby_Agba
M. Wahab
4 years
I DO NOT WORK FOR KPMG!!!😂
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@Wahaby_Agba
M. Wahab
3 months
Once your plane lifts off the ground, there is absolutely nothing you can do to save yourself. Every time I fly, at take off, I keep doing Astagarifullah in case!!!
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@Wahaby_Agba
M. Wahab
4 years
For protesting lack of water in 2015, Unilag rusticated our leaders and made the rest of us sign indemnity not to ever protest again. Till I graduate, it was generally “fem”🤫
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@Wahaby_Agba
M. Wahab
11 months
- As of Dec-22, autonomous FX supply delivered almost 70% of the market's total supply vs. 30% flow through the CBN. - Thus, it is imperative for the CBN to put in place policies that will allow foreign portfolio investments (FPI) into the system
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@Wahaby_Agba
M. Wahab
7 months
My King don talk 🥹🥹🥹
@Oluwakemie_
Kingkemie
7 months
Happy birthday to my darling friend turned brother. The goated oil and gas analyst of Nigeria🙌🏻🙌🏻🙌🏻 @Wahaby_Agba
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@Wahaby_Agba
M. Wahab
2 years
Wanted to buy a bag, budget is 50k. Went to Yaba, guy said 23k. In my mind, I said too cheap. Left and went to ICM, them say 150k. Guess who’s back in Yaba? 😂
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@Wahaby_Agba
M. Wahab
10 months
This Naira crash is less speculative and more fundamentally driven. Even businesses with genuine demand are not able to get FX. Uncleared backlog demand is now almost $8bn. Naira analysis today is beyond checking FX reserves, you need to do proper channel checks.
@Gviev
Genevieve Mbama 🕊X 💘
10 months
Ur busy mopping up USD in parallel market without valid reason except out of panic & fear...thereby creating BUBBLE demand. Then come to Xter to start ranting d rates are going up & insult anakysts If ur ignorant of how Consumer PANIC buying affects pricing , go back to school
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@Wahaby_Agba
M. Wahab
9 months
@deinyinacha Not remotely defending the govt but tertiary education is ridiculously expensive even in places where politicians are not corrupt, they take loans to go to school and pay back over 20-30yrs period. Only in Nigeria people go through 6-6-4 education free or charge.
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@Wahaby_Agba
M. Wahab
5 years
@adesina_doyin I’m not an avid reader but I certainly know Nora Roberts. Please, who the heck is Tomi Adeyemi?
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@Wahaby_Agba
M. Wahab
11 months
Happy birthday to the best banking analyst in SSA @Tweet_Dammy
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@Wahaby_Agba
M. Wahab
3 years
DANGCEM joins the N1tn league
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@Wahaby_Agba
M. Wahab
11 months
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@Wahaby_Agba
M. Wahab
3 years
BUA cement to raise up to N100bn from a bond programme of N200bn. This isn't surprising, in fact, the title of my last note on the company was "capital raise is a question of when". Use of proceeds: " To refinance shareholder loan, fund debt service reserve account,
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@Wahaby_Agba
M. Wahab
3 months
The evil thing about inflation is that, in many cases, prices don’t crash, they only rise at a slower pace. To put in proper perspective, small chops price won’t go back to N500, it will remain at N1,300 and rise slowly if inflationary pressure reduces.
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@Wahaby_Agba
M. Wahab
10 months
@chukaobi These are macro challenges that they definitely need to fix but those problems, unfortunately, do not exempt us from paying for a product that we do not produce.
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@Wahaby_Agba
M. Wahab
1 year
Mallam Mele Kyari is an incredibly smart man. That interview was not just talk, it was technical and full of insights.
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@Wahaby_Agba
M. Wahab
3 years
Reading an old report from ARM, I found that one of the CBN’s FX stability tactics in 2015 was to cut trees on the street of Abuja, to expose illegal FX traders to the scotching sun 😂😂😂
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@Wahaby_Agba
M. Wahab
11 months
- From the chart above, both the CBN and autonomous flows grew steadily, forcing the NGN to appreciate against the dollar. But the CBN led. - The bank conducted auctions twice a week and forced everyone to participate - This time, the CBN waited too long an FPI dried up.
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@Wahaby_Agba
M. Wahab
5 years
@usmanethical @ebuka_akara FYI, water can’t stop the drop🙄
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@Wahaby_Agba
M. Wahab
9 months
@DavidHundeyin I don finally blow 😂😂😂😂😂😂😂
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@Wahaby_Agba
M. Wahab
5 years
@kfcnigeria Loool what are they saying. We need clarity pls. ‘For just’ or ‘From just’?
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@Wahaby_Agba
M. Wahab
11 months
- Going by the last major economic shocks, the collapse in oil prices triggered massive investment outflows, and by extension, the Naira came under intense pressure. - Beyond devaluation, and creation of a framework for investors to trade currency, CBN also had to step up supply
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@Wahaby_Agba
M. Wahab
1 year
Guess who bought the ticket still?😂
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@Wahaby_Agba
M. Wahab
1 year
@Mz_rejubi SA ticket to Cape Town 770k. I no dey go vacation again 😂
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@Wahaby_Agba
M. Wahab
1 year
The next thing we are coming for is that your “Form A”. If you want to japa, do it on your own, Nigeria will not subsidize your school fees.
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@Wahaby_Agba
M. Wahab
4 years
@supersanusi @dipoladapo I know educated people who still believe in blood money, in 2020. Like a dead body will bring pile of cash in calabash in the night🤦🏾‍♀️😂
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@Wahaby_Agba
M. Wahab
8 months
God will spare the lives of my classmates, abi una no go sabi una class rep again ni? 😂
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@Wahaby_Agba
M. Wahab
3 years
Market took a slight breather from Buy-Back induced rally on Dangcem today, but aggressively re-priced BUA upward. BUACEMENT is looking to add series of new lines of 3MMT in Edo, Sokoto, and Adamawa. Again, who is buying cement in Nigeria? Sector installed capacity is barely 50%
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@Wahaby_Agba
M. Wahab
9 months
I used to be a big boy, I would watch blockbusters on the first day of release every weekend in the best cinema is Lagos. Now I’m just a poor soul converting each debit to my home currency
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@Wahaby_Agba
M. Wahab
3 months
This is Flour Mills of Nigeria. They made only N29bn from a revenue of N1.5tn, that’s about 5% net margin. These are real companies, they’re generally called low margin businesses.
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ODEJIJI
3 months
@mrblingy @SirJarus @AyanwaleSegunD 2 B revenue and 75m profit not real
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@Wahaby_Agba
M. Wahab
11 months
- In Q4-22, FPI was $288m, the lowest level since '16 when oil production and prices collapse brought Nigeria's economy to its knees. - This time, the CBN must lead the supply at a rate equal to what markets dictate - All special windows must be discontinued, including FORM A.
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@Wahaby_Agba
M. Wahab
2 months
Investment bank bonus in Nigeria is a myth, people in real sector make more bonuses than you can ever imagine 😂
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@Wahaby_Agba
M. Wahab
1 year
Khaled Dokani steps down as Lafarge Africa’s CEO, Lolu Akinyemi now appointed as the CEO. Lolu was the CFO.
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@Wahaby_Agba
M. Wahab
3 years
I hate watching Barcelona without Riqui Puig. Koeman is just an ordinary guy with coconut head.
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@Wahaby_Agba
M. Wahab
10 months
“Will the government utilize savings from subsidy removal on infrastructure?” is the question I typically get when I argue for subsidy be removed. This is exactly why no one trust the government of Nigeria.
@MobilePunch
Punch Newspapers
10 months
Akpabio Says Money Has Been Sent To Senators For Holiday In Viral Video In a viral video shared on Wednesday morning, the Senate President, Godswill Akpabio, revealed that money had been sent to all Senators by the clerk of the National Assembly to enjoy their holiday.
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@Wahaby_Agba
M. Wahab
4 years
Let’s get Onyeka into Oxford
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@Wahaby_Agba
M. Wahab
4 years
“In God we trust, everyone else must bring data”😂 @StearsBusiness
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@Wahaby_Agba
M. Wahab
4 years
Told this babe I want to go to LBS, Harvard, or Yale for MBA but I don’t have money. She said “ma worry dear, olohun lo n wo Omo Weyrey” 😂
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@Wahaby_Agba
M. Wahab
10 months
Take US$ loans, use everything to pay school fees and medical tourism at N460/US$. Two years later, cry for lack of infrastructure.
@ruffydfire
oseni rufai
10 months
We need loans to defend the Naira, hopefully,we will get a loan to defend our currency.We could get concessionary loans.
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@Wahaby_Agba
M. Wahab
1 year
- The CBN has wasted too much of reserves on education bill abroad - Between 2015 & 2022, we spent US$22bn on education related bills, including school fees - In Q4-22, Nigeria services payments was US$3.13bn, 68% came from transportation (airline outflow) and education bills
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@Wahaby_Agba
M. Wahab
1 year
The next thing we are coming for is that your “Form A”. If you want to japa, do it on your own, Nigeria will not subsidize your school fees.
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@Wahaby_Agba
M. Wahab
3 years
Even though oil price collapse typically precedes the Naira's misfortune, oil prices always eventually recover, but the Naira? Never!!!
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@Wahaby_Agba
M. Wahab
28 days
Been interviewed by both gentlemen. Rotus is gentle and patient, but you have to know your stuff when you’re interviewed by Boason.
@BBoason
Boason Omofaye
28 days
#The #Naira needs serious #haircut below its present levels on #USD , so @ARISEtv male business show anchors @Rotankwot and @BBoason went to the salon this evening to lead by example. Join the movement...
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@Wahaby_Agba
M. Wahab
11 months
@cchukudebelu There hasn’t been traffic on this road in a really long time 😂 This man just dey lie 😂😂😂
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@Wahaby_Agba
M. Wahab
9 months
Finance bros act like they are building models to invent cure to brain cancer. Most are incredibly rude people. Everybody else is foolish because they understand CBN’s balance sheet and treasury operations 😂
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@Wahaby_Agba
M. Wahab
10 months
The question I always ask throughout my economic research time was that - “How does an interest rate hike reduce the price of garri in the market?” Raising policy rate to attract FPI is justifiable, but as a tool to rein in inflation, has never made much sense to me.
@sgyemikale
Dr Yemi Kale
10 months
Extract from my just concluded presentation at 2023 BusinessDay CEO Forum So Assuming Friedman”s theory for controlling money supply led inflation holds where money supply should grow at pace of GDP growth to keep inflation low then this was largely maintained on Nigeria. 1/6
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@Wahaby_Agba
M. Wahab
5 years
"The debt issue may seem distant and abstract, especially in a year that looks positive. But the seeds of debt crisis are planted in advance, and when the crisis hits, the economy collapses" @StearsBusiness
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@Wahaby_Agba
M. Wahab
1 year
Wanted to do birthday party for my son but my very useless friends have refused to give birth, so no one to invite 😂
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@Wahaby_Agba
M. Wahab
9 months
@YemiA_ Yemi, average people can’t afford Uni education in America, they take loans.
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@Wahaby_Agba
M. Wahab
3 months
I have no thoughts on the CBN rate hike but as a retired analyst, I doubt if I would have called a 400bps.
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@Wahaby_Agba
M. Wahab
1 year
Sanwo Olu is really competent and seems like the most prepared.
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@Wahaby_Agba
M. Wahab
4 years
FGN is gradually stepping up: a 4.92x over allotment relative to offer size. At this run rate, we should see gross bond issuance totaling c.N2.06 trillion in the next 7months. Average stop rate is yet to respond though.
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@Wahaby_Agba
M. Wahab
9 months
@konibajeooo In Lagos, it is illegal not to put your child in school. Primary and secondary education is free. Tertiary really shouldn’t be if we’re serious about building world class centre of learnings. Govt should focus on funding R&D in universities not tertiary education for all.
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@Wahaby_Agba
M. Wahab
6 years
Attendants need to stop asking us ‘savings or current’? in front of our babes. Saying ‘savings’ feels demeaning
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@Wahaby_Agba
M. Wahab
1 year
John Wick 4 is a joyfully long and super serious movie, no room for comedic scene whatsoever. I haven’t seen a better movie since “Smile”.
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@Wahaby_Agba
M. Wahab
1 year
Nigerian economic managers will ignore supply constraints and be chasing arbitrageurs. Flood the banks with loads of paper naira and you don’t have to arrest POS agents for charging exorbitant rents!
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@Wahaby_Agba
M. Wahab
10 months
No, you are ruining people’s lives. Gambling is a disease bro, people are getting fucked because of you. Repent bro!!!
@Kingkuti_
👑 Daddy Fernandes 👑 🇳🇬🇲🇽
10 months
Mumu at least I’m helping people out of Poverty with the little they have Tell me what you have done for the Masses???
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@Wahaby_Agba
M. Wahab
11 months
Electricity prices doubled but Lagos still in darkness.
@Wahaby_Agba
M. Wahab
4 years
In dollars, Nigeria appears to have doubled its household electricity prices. We now pay more for electricity kWh than S/A, India, and Canada by 27% on average. Yet, the minimum allowable electricity for Band A is 20hr. Band A will still face blackouts for at least 120hours/month
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@Wahaby_Agba
M. Wahab
4 years
They packaged an ex-dictator as a reborn democratic man and we bought it twice. Fool me once...
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@Wahaby_Agba
M. Wahab
4 years
Around January this year, on Smooth Breakfast, I remember Dele Akintola of Standard Bank predicted that NGSE will return more than 40% in 2020. His argument was built on a supportive system liquidity. NGSE is now +31.67% YTD. The salesman wasn’t wrong after all.
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@Wahaby_Agba
M. Wahab
4 years
Ambode warned us that he’s a psychiatric patient, we all laughed.
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@Wahaby_Agba
M. Wahab
3 years
Someone is being cheated, and it may be you. That’s why your employer told you not to disclose your salary.
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@Wahaby_Agba
M. Wahab
11 months
@sgyemikale I spoke with a foreign asset manager who said he made so much money in 2017-19 that he felt sorry for Nigeria. Free monies of almost 22% effective rate on OMO bills with another guaranteed spread on NDF contract. The FX market has been repaired, all FPIs should do the hard work.
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@Wahaby_Agba
M. Wahab
4 months
@SubtleFred_ It’s increasingly difficult to argue for the govt.
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@Wahaby_Agba
M. Wahab
1 year
I am a proud Nigerian
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