Nigeria's stock market among the best performers in 2024 | World Business Watch
Nigeria's stock market among the best performers in 2024 | World Business Watch
Nigeria’s stock market has been among the best performers this year. Nigerian equities are beating all peers in Europe, West Asia & Africa. The reason for this surge? Pension funds and institutional investors. They anticipate record profits from banks gaining through naira’s devaluation.
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While the NGX grows. because people are profiting from devaluation. The common masses suffer
The stock market is doing well beicause banks are profiting from Naira devaluation and the impoverishment of the country. And because pension funds are buying more stocks. Its not because the economy, or Nigerian listed companies are doing well.
Its just an artifact. Evrrything is worse, but the governments free market policies are shielding the richest people from the hardship everyone else is feeling.