Last updated on September 11th, 2021 at 02:46 pm
The economy of Nigeria – the most populous country in Africa, with more than 200 million inhabitants – was transformed post-independence with the adoption of an International Monetary Fund (IMF) programme in 1986, which kick-started economic liberalisation.
The repeal of indigenisation decrees and exchange controls, as well as privatisation of public corporations, induced a wave of stock market listings in the 1990s. Policy initiatives such as pension reforms, consolidation of the banking sector and the creation of a debt management office produced large domestic institutional savings pools.
Despite these advancements, the Nigerian Stock Exchange (NSE) market remains small, with a market cap/GDP ratio of just 9%. Its 169 stocks are concentrated in three sectors: banking (33% of market cap), materials (32%) and consumer goods (27%). But these sectors together account for less than 10% of economic activity.
(Africabusinesscentral)
A team of 80 security agents tasked with protecting the electricity grid was ambushed onMonday in Shiroro, Niger State, by…
Cryptocurrency becomes the new thing in Africa. People shift for stable alternatives aftertheir unstable local currencies. Many people believe Donald…
UAE has also distributed 30,000 food baskets to Sudanese refugees in Kiryandongo refugeecamp Uganda to benefit nearly 100,000 affected people.Aid…
The trade volume between Türkiye and 54 African countries has grown sevenfold, reaching $37 billion from 2003 to 2023, Yılmaz…
The final round of the 2025 Africa Cup of Nations qualifying matches was held this week with Tanzania, Botswana and…
'Masterpieces' Lucas Moripe passed away at his Atteridgeville home on Tuesday at his senior year of 71. His style of…
This website uses cookies.