Nigeria’s stock market saw a remarkable 39.84 percent year-to-date gain, in the first quarter of 2024, marking it as the second-best performing exchange in Africa.
This surge was attributed to the economic reforms initiated by the Tinubu administration.
Despite facing challenges such as insecurity and double-digit inflation, the Nigerian Stock Exchange All-Share Index (NGX ASI) soared, reaching 104,562.06 basis points by March 28, 2024, up from 74,773.77 at the beginning of the year.
However, rising inflation and a hike in the Monetary Policy Rate prompted some investors to explore alternative investments, leading to a mixed market performance in the first quarter.
Private sector fears loan repayment crisis
Members of the Organised Private Sector and economists have expressed fear over the latest hike in the nation’s benchmark interest...
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