The policy advisory team assembled by President Bola Tinubu to carve out the path to a sweeping revamp of Africa’s biggest economy is betting that the Nigerian stock market’s share of the country’s GDP will jump to 25 per cent in 12 to 18 months.
That rate nearly doubles the 14.3 per cent contribution to the economy as of 9 May, an ambitious target for a market just striving to win investors back after foreign inflow hit its lowest level in more than nine years in April.
Among the strategies to achieve that end is “increased participation of pension funds and insurance companies in the capital market,” the committee said in a report seen by PREMIUM TIMES.
