The effects of fiscal and monetary policies on the Nigerian equities market have raised concerns among stakeholders, despite the fact that it has concluded the past three years on a high note. Last year, the market had growth of 19.98%.
And as of Tuesday, May 30, it has increased by 8.76% this year. The strong engagement of foreign investors, who frequently left the market during the general election in Nigeria out of anxiety for the security of their capital, has been ascribed by analysts to the tendency of elections having a negative influence on the market.
Analysts have attributed the considerable decline in foreign market involvement under the administration of former President Muhammadu Buhari to government measures, particularly the foreign investment ban, which made it difficult for foreign portfolio investors to repatriate their funds.
The Director General of the Securities and Exchange Commission, Lamido Yuguda, is optimistic that the government of President Bola Tinubu will stabilise the forex market. We expect the foreign exchange situation in the country to substantially improve.