What could be the propelling force of an equity market that has almost doubled in value in eight months when other key macroeconomic indicators like inflation, exchange rate, and lending rates are pretty much grim?
What magic wand does the Nigerian Exchange wield to merit the prestige of being the world’s best-performing stock exchange this year, yielding 35.3 per cent in January alone, when foreign capital inflow, once the lifeblood of the market, is now significantly low?
Stocks are having their moment in Nigeria, gaining a major boost around the middle of last year when President Bola Tinubu introduced a slew of market-friendly reforms that wowed investors.
