Tinubu: Nigerian Stock Exchange Records Highest Gain in 15 Years

The Nigerian Stock Exchange (NGX) All-Share Index recorded an 18.9% gain in the first half of 2023.

The feat culminated in a closing figure of 60,108.86 index points for the NGX.

Daily Report Nigeria reports that the achievement marks the highest point attained in over 15 years when it clocked an impressive 63,016.6 points.

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Financial expert have attributed the development to the implementation of favourable policies by President Bola Tinubu’s administration, among other factors.

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The harmonisation of various exchange rates, and the decision to float the naira were listed as measures pivotal to bolstering investors confidence and stimulating the stock market.

June closed with an All-Share Index of 9.32%, bringing an end to a 4-year streak of losses experienced during this month.

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In the face of several concerns surrounding rising inflation, hike in interest rate as well as the fallout from the 2023 general elections, investor confidence has remained resolute and fostered an increased buying activity in the market.