Nigeria's equities market is experiencing significant growth, with the NGX All Share Index reaching 106,074 points. This upward trend is backed by gains in sectors like Technology Services, Consumer Non-Durables, and Non-Energy Minerals. Despite some losses in Commercial Services, the overall market reflects improved investor sentiment. The World Bank's GDP growth forecasts of 3.4% for 2024 and 3.6% for 2025, alongside the government's aim for 7% growth through reforms and investment, highlight a positive economic outlook despite ongoing challenges.
Nigeria's equities market is on a positive trajectory, driven by robust sector gains and improving investor sentiment amidst promising economic forecasts.
The World Bank predicts Nigeria's GDP growth at 3.4% in 2024 and 3.6% in 2025, attributing it to strong performance in services such as telecommunications.
Federal government aims for 7% annual GDP growth, showing dedication to structural reforms and investment promotion, paving the way for long-term economic growth.
Despite short-term challenges, Nigeria's equity market is anticipated to benefit from structural reforms, potentially leading to higher valuations in the long run.
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