Nigeria's Capital Market Value Surges to N160 Trillion
On a recent strategic visit to Aso Villa, the Board and management of the Nigerian Exchange Group (NGX Group) met with President Bola Ahmed Tinubu to discuss the evolving role of the capital market in Nigeria's economy. Group MD/CEO Temi Popoola reported that the total value of stocks listed in Nigeria has surged from just under N30 trillion when Tinubu took office in 2023 to N160 trillion today, with projections to reach N230 trillion by the end of the year.
The All-Share Index also rose significantly from 52,000 points to 244,000. This meeting marked a shift in Nigeria's economic discourse, recognizing the capital market as a crucial component of national strategy alongside fiscal and monetary policy.
Central Bank of Nigeria Governor Olayemi Cardoso supported this perspective, emphasizing the importance of market infrastructure and domestic investment in driving economic growth.
Plus234Feed summary based on reporting from This Day. Read the original report below.
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