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LequteMan
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Nigeria's stock market has lost N238bn due to President Muhammadu Buhari's delayed ministerial list. According to reports, investors aren't sure which direction his government is heading to and as a result are pulling out of the market.
PUNCH has the story:
The delay by President Muhammadu Buhari in appointing ministers and other key officials as well as the lack of clear information about his government’s policy direction have been major deterrents to investment in the nation’s capital market.
Capital market analysts, who spoke to our correspondent on the recent performance of the market stressed that investors, especially foreigners, were unlikely to make significant investment in the market, if any at all until, they had a clear picture of the policy direction of the government.
As of Thursday, three weeks after the inauguration of the President on May 29, the value of equities listed on the Nigerian Stock Exchange had declined by N238bn or 2.04 per cent, while the NSE All-Share Index fell by 2.47 per cent or 849.87 basis points.
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PUNCH has the story:
The delay by President Muhammadu Buhari in appointing ministers and other key officials as well as the lack of clear information about his government’s policy direction have been major deterrents to investment in the nation’s capital market.
Capital market analysts, who spoke to our correspondent on the recent performance of the market stressed that investors, especially foreigners, were unlikely to make significant investment in the market, if any at all until, they had a clear picture of the policy direction of the government.
As of Thursday, three weeks after the inauguration of the President on May 29, the value of equities listed on the Nigerian Stock Exchange had declined by N238bn or 2.04 per cent, while the NSE All-Share Index fell by 2.47 per cent or 849.87 basis points.
click here to read more
