In a week where the Nigerian economy witnessed a massive turnaround, the stock market capitalization surged past the 100 trillion Naira mark to record 117 trillion Naira increase, signaling what host Ugodre describes as perhaps the best week for the national economy so far this year.
Alongside this milestone, Ugodre also examined major corporate updates across the market on this episode of Follow the Money.
At the outset, the host states that the NGX All Share Index soared 6.16% in one week, achieving in seven days what other markets may realise in a year.
Ugodre also highlighted the naira’s appreciation to its strongest official level in nearly three years, noting that the combination of improving confidence and capital inflows supported the currency.
He explained that renewed foreign investor participation played a major role in the rally, with billions of dollars returning to the market due to attractive interest rate differentials.
The host also analyzed corporate earnings across several companies, like Tantalizers, which gained investor attention after fresh investment and a shift in business direction, while DEAP Capital secured new funding tied to expansion into minerals financing.
Aside from that, Ugodre pointed to Okomu Oil’s ₦87.3 billion profit and strong revenue growth, alongside improved earnings from May & Baker and increased activity supporting Skyway Aviation Handling Company’s performance.
Despite the optimism in the market, Ugodre cautioned investors against rushing into speculative or penny stocks without proper research, stressing that market conditions still require careful analysis and professional guidance.
Watch the latest episode of Follow the Money to understand what’s really driving Nigeria’s record-breaking market rally and what it means for your investments.
Nice comments sir, but I saw one of your posts about SWOOTS. I did a quick calculation. The yen SWOOTS make up 70% of the stock market.
Add the next five and that’s almost 90% of the market by 15 companies out of 150!
Can this be said to be a successful market?