Nigerian stocks advanced 2.6 per cent last week during which the listing of Tony Elumelu-backed Transcorp Power added N1.88 trillion to the Nigerian Exchange’s market capitalisation.
That is not to mention the 46.4 per cent capital gain the equity contributed to the overall market value in its first week of trade.
Interestingly, equities continue to win investors over despite improved yields on fixed income assets, which have become considerably attractive after monetary authorities bucked up the reference interest rate by as much as 400 basis points in February.
