SHOCKING! N1.732 trillion lost under Buhari in one year

– The Nigerian Stock Exchange market has lost N1.732
trillion in one year of Buhari’s administration
– The market crashed by N1.732 trillion as against the
N11.658 trillion market capitalization was as at May 28,
2015

Floor of the Nigerian stock exchange
In just one year of the President Muhammadu Buhari
administration, the Nigerian stock market crashed by
N1.732 trillion as against the N11.658 trillion market
capitalization was as at May 28, 2015.
According to a report by Punch newspaper, in the first
quarter of 2016, the All-Share Index also crashed to
28,902.25 basis points from 34,310.37 basis points as the
equity category lost over N1.053tn in the first quarter of
2016.
The market capitalisation of the NSE fell by N811bn in the
first 10 weeks of trading this year.
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announces
The NSE market capitalisation dropped from N9.75tn on
January 4, 2016 to N8.939tn 10 weeks into the year, while
the All-Share Index also closed at 25,988.40 basis points
from the 28,643.67 basis points recorded on the first
trading day of the year.
Investors had also made huge losses in the Nigerian
equities market last year as the market capitalisation
(equities only) of the NSE shed a total of N2.354tn between
December 2014 and December 2015.
An analyst quoted in the report said in the last one year,
the efficiency of the country’s economy had been
constrained by policies – monetary and fiscal.
He noted that the country had not been able to chart the
right path in the past one year, saying some actions by the
Federal Government in recent times had shown a rethink
especially in the partial deregulation of the petroleum
downstream sub-sector and the flexible foreign exchange
market.
“Our concern is that this flexibility must mean flexibility in
the whole sense of it. We’ve seen the capital market make
progress recently owing to these. Any attempt by the
government to interfere again could drag us back
significantly,” Mr Tola Oni, an analyst at WSTC Financial
Services Limited said.
But the President, Nigerian Stock Exchange, Mr Aigboje Aig-
Imoukhuede, has said the capital market must facilitate
capital raising for economic growth as well as mobilise
savings for investment.
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Ogoniland
Mr Aig-Imoukhuede said part of the strategies was a broad
consensus on sectorial priorities for growth, which should
feed into policy formation.
“Nigeria is facing a huge growth challenge. Nigeria, indeed,
has a big challenge in terms of growth. Employment rate
must grow owing to the fact that the population is also
growing very fast. Growth is difficult to realise; so,
government must stimulate growth.
“Nigeria is only exaggerating the impacts of falling oil prices
now. This is because with a robust financial market the
economy can be sustained. The financial market must be
encouraged.”
He described the Nigerian financial market as a ‘high-risked’
market, saying the situation was capable of attracting
limited investors who could ultimately stop at nothing to
maximise returns.
Meanwhile, here are five Jonathan’s mistakes Buhari
repeated in his one year in office.

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