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LequteMan
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The Nigerian stock market has lost about N2.25tr since Muhammadu Buhari was sworn in as President of Nigeria, Nairametrics says:
The announcement of President Buhari as winner of the hotly contested 2015 election ushered in a gusty wind of ‘Bull-hari’ which saw Nigerian stocks gain for 10 straight days. That wind seems to have given way for a hurricane that has now seen Nigerian stocks lose about N2.2 trillion since President Buhari was sworn in May 29, 2015.
The All Share Index began the presidents reign on a bearish note with the market capitalization closing at N11,568,517,548,850. As at close of business December 14, 2015 market capitalization stood at N9,344,846,308,510. Market cap closed at N9,415,813,600,000 at the end of November 2015. Compared to when Goodluck Jonathan was still president, Market Capitalization was up N331 billion by the time the former president handed over.
The All Share Index has also taken a huge dip since Buhari got elected nose diving from 34,310.37 points to 27,617.45 points at the end of November. The index is currently on a year to date drop of about 20% compared to -1% when the president was sworn in.
Despite the fall in oil prices being a crucial factor in the fall of stocks, the economy is firmly Buhari’s and most investors will allude to the fact that his decisions has had its own impact on the performance of stocks.
Read full story
The announcement of President Buhari as winner of the hotly contested 2015 election ushered in a gusty wind of ‘Bull-hari’ which saw Nigerian stocks gain for 10 straight days. That wind seems to have given way for a hurricane that has now seen Nigerian stocks lose about N2.2 trillion since President Buhari was sworn in May 29, 2015.
The All Share Index began the presidents reign on a bearish note with the market capitalization closing at N11,568,517,548,850. As at close of business December 14, 2015 market capitalization stood at N9,344,846,308,510. Market cap closed at N9,415,813,600,000 at the end of November 2015. Compared to when Goodluck Jonathan was still president, Market Capitalization was up N331 billion by the time the former president handed over.
The All Share Index has also taken a huge dip since Buhari got elected nose diving from 34,310.37 points to 27,617.45 points at the end of November. The index is currently on a year to date drop of about 20% compared to -1% when the president was sworn in.
Despite the fall in oil prices being a crucial factor in the fall of stocks, the economy is firmly Buhari’s and most investors will allude to the fact that his decisions has had its own impact on the performance of stocks.
Read full story
