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Nigerian stock market among best performing of 2017

The Nigerian All-Share index is still miles below record highs set in early 2008, but a 43% rally in 2017 has helped to close the gap.

The index suffered mightily in 2015 and 2016 as low oil prices, militant attacks, currency troubles, elections and Ebola hit investor sentiment.

But oil prices have moved higher, the central bank has made it easier to swap currencies and the economy has snapped out of recession, explained Zin Bekkalim, founder and CEO of Silk Invest.

Many analysts are optimistic that stocks could keep rising in 2018.

“If you look at where we stand today, the [Nigerian] market is still one of the cheapest markets on the planet,” said Bekkalim.

(Source: CNN)

 

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Tokunbo David
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