The naira gained ground, and the stock market surged following President Bola Ahmed Tinubu’s live media chat, signaling optimism among investors and analysts.
On Tuesday, the naira appreciated to N1,540.33 per dollar, while the stock market’s benchmark index climbed by 829.88 points, adding N503 billion in market capitalization.
The positive shift reflected confidence in the economic outlook shared during the president’s one-hour session with journalists.
The stock market saw broad investor activity across various sectors, driving Nigeria’s year-to-date returns to 36.7%, placing it among the top-performing global markets.
Analysts predict continued growth as investors reposition portfolios for the new year.
The president’s remarks addressed ongoing reforms, such as subsidy removal, tax adjustments, and exchange rate unification.
Analysts noted that these policies, while challenging in the short term, have begun to yield visible results.
The administration’s focus on infrastructure, agriculture, and financial sector reforms has also gained traction.
Notably, the approval of N95 billion for dam rehabilitation in Kano aims to boost irrigation farming, a vital move for food security and economic growth.
Experts agree that steady implementation of these policies could sustain the country’s economic recovery, urging citizens to remain patient as the reforms mature.
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