Domestic transactions on the Nigerian Exchange Limited (NGX) fell by 45.3 per cent within a 16-year period, from N3.6 trillion in 2007 to N1.9 trillion in 2022, the latest Domestic and Foreign Portfolio Investment (FPI) report has shown.
Nigeria’s FTSE downgrade from frontier market to unclassified will cause a colossal damage to the capital market and erode investor confidence, unless urgent steps are taken to reverse the trend, experts have said.
The peaceful transition to a new administration, coupled with its blunt expression of willingness to tackle lingering macroeconomic challenges facing the economy, especially the foreign exchange (forex) crisis has caused the equities market to gain N1.8 trillion in May 2023.
The inability of the Nigerian capital market to contribute significantly to capital formation under President Muhammadu Buhari in the past eight years is in focus as the administration comes to an end.
With the barrage of negative ratings as regards the nation's economic outlook in the last few weeks, the nation can record meaningful growth if the Federal Government adheres to fiscal responsibility provisions and desists from funding responsibilities beyond its resources, experts have said.
5 Dec 2022
The Nigerian economy has deteriorated considerably when compared to the beginning of this year. All macroeconomic indicators have worsened.