Tinubu’s Reforms Drive Nigerian Stock Market Gains N13 Trillion in 2023

Following the successful transition this year and some reforms initiated by President Bola Tinubu, investors’ return on the Nigerian stock market appreciated by N13 trillion in 2023.

The market capitalisation closed 2023 trading on Friday, at N40.918 trillion, representing an increase of N13 trillion or 46.6 per cent, from the N27.91 trillion it closed for trading in 2022.

Consequently, the Nigerian Exchange Limited All-Share Index (NGX ASI) hits an all-time high of 74,773.77 basis points, representing an increase of 45.90 per cent Year-to-Date (YtD) gain from 51,251.06basis points it opened for trading.

The new listing on the Exchange played a significant role on the NGX ASI all-time high record as the stock market continued on a positive trajectory.

The likes of MeCure Industries Plc, VFD Group, Nigeria Infrastructure Debt Fund (NIDF) and Africa Plus Partners added to the stock market positive trajectory in the period under review.