In ‘Follow the Money with Ugodre,’ we explored the recent surge in the Nigerian Exchange (NGX) as the all-share index appreciated by an impressive 8.3%, reaching a record high of 102,401.88. This surge catapulted the market capitalization to an astounding 56 trillion, marking a significant milestone. Notably, our stock exchange now represents approximately 25% of our GDP, a figure significantly lower than the 80-100% range typically seen in most developed countries.
Meanwhile, Economic Community of West African States (ECOWAS) members Burkina Faso, Niger, and Mali have withdrawn from the organization, raising questions about the potential implications for Nigeria. These countries, being our regional neighbors, pose significant security challenges. Moreover, as landlocked nations, they heavily rely on neighboring countries for trade facilitation.
To delve deeper into the impacts of these developments, join us for an insightful analysis of the full episode, now available for streaming on Spotify.
