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President Bola Ahmed Tinubu made a remarkable start to his presidency by breaking Nigeria’s business record within 24 hours of his inauguration.
The Nigerian stock market opened on a bullish note, with investors showing confidence in Tinubu’s administration.
In his inaugural speech, Tinubu addressed key economic concerns, including the need to capture fuel subsidy in the 2023 budget and working towards a unified exchange rate to bolster the Nigerian economy.
This created investor optimism and confidence in his administration’s economic policies and reforms.
As a result, market capitalisation increased by 5.22%, reaching N30.349 trillion compared to N28.844 trillion posted on the previous trading day.
Tinubu’s first-day market performance of 5.22% surpasses the growth seen during the first 24 hours of the previous administrations since Nigeria’s return to democracy in 1999.
This sets an encouraging tone for Nigeria’s economic outlook, and we look forward to more stock gains in the future.
