Connect with us


BIG STORY

“Tinubu Effect”: Nigerian Stocks Post 5.23% Gain After Inauguration Speech

Published

on

  • Nigerian equities rallied 5.2% following President Tinubu’s inauguration speech, termed a “TinuBULL” by analysts.
  • All market indices posted positive gains, with the NGX30, NGX Banking, and NGX Industrial indices gaining 5.58%, 8.2%, and 6% respectively.
  • Market turnover rose 10%, total volumes traded increased by 133.5%, and the market capitalization of the All Share Index surpassed N30 trillion.

Nigerian Equities rallied to a 5.2% gain on Tuesday as investors reacted positively to the inauguration speech of President Bola Ahmed Tinubu.

Analysis by Nairametrics shows that stocks rallied from the opening sessions, posting one of the best one-day returns ever. Stocks effectively gained N1.5 trillion in one day which is one of the highest one day gain in a long time.

More details on how the market performed

All the indices posted positive gains with NGX30, NGX Banking, and NGX Industrial all posting 5.58%, 8.2%, and 6%, respectively.

That total number of deals recorded was 9,916, up 56.38%, suggesting that investors were in a bullish mode. Total volumes traded were also up 133.5%, even as market turnover rose 10%.

The market capitalization of the All Share Index also crossed the N30 trillion mark to N30.35 trillion.

The All Share Index is now up 8.77% year to date. Out of the top 10 gainers, 8 of the stock gained 10% with Zenith Bank, FCMB, Transcorp Hotel, and NB among stocks that gained 10%.

The FUGAZ was also among the top traded stocks by Value with Access Bank leading with N2.4 billion in trade.

What market operators said

Reacting to the development, the Managing Director of Arthur Steven Asset Management Limited, Mr Olatunde Amolegbe, told Nairametrics that the market’s reaction was expected. He said:

“The least of policies that the president is taken into consideration were like sweet melodies to the ear of market operators. This is because issues such as high-interest rates, multiple exchange rates, slow GDP growth, and the inability to repatriate dividends of foreign investors are some of the issues that have held the economy and prevented the stock market from reaching its full potential.

“The president announcing his intention to tackle these issues was received very well by market operators which led the ASI to gain 5.2%, the largest one-day gain in the index for about two years.

“My expectation is for the momentum to continue in the few days as investors continue to digest the implication of these government policies.

Despite the short-term pains that might come with this policy prescription, the expectation is that medium to long term, the economy will be much better, which is the reason why we are seeing this positive change today.”

Also commenting on the development, the Executive Vice Chairman of Hicap Securities Limited, Mr David Adonri, said the smooth handover of government generated positive confidence in the market.

“Some of the policy statements regarding some new policies like the one on discontinuation of fuel subsidy, unification of exchange rate, stern measures against insecurities, and interest rate policy, among others, are measures that resonated well with investors and boosted the market sentiment,” Adonri said.

Optics

In 2015, when INEC announced Buhari as the winner of the national elections, stocks gained for 10 straight days from the 24th of March to the 8th of April 2015.

The exchange rate also strengthened at the time and stocks ended the month of March and April for 5.45% and 9.33% respectively.

However, it turned red in May, June, July and August eventually ending the year with a loss of 17.36%.

Based on the closing day rate for May 30th, 2023, stocks are currently up 6.38% and on track to be the best monthly gain since December 2023.

Recall that;

The new president has said in his inauguration speech that Nigeria’s monetary policy needed thorough housecleaning, adding that the CBN must work towards a unified exchange rate and reduction of interest rate.

Market operators reacted positively to this, saying Tinubu’s position on the need to review current monetary policy will be a welcome development that will quicken positive change in the economy.

 

Credit: Nairametrics

BIG STORY

Super Eagles Keeper Nwabali Loses Mum 6 Weeks After Father’s Death

Published

on

Super Eagles and Chippa United goalkeeper Stanley Nwabali has tragically lost his mother.

The South Africa-based goalkeeper shared the sorrowful news via X on Wednesday.

“Rip mom, worst year of my life already,” the goalkeeper posted, accompanied by tears and heartbreak emojis on New Year’s Day.

“A very very crazy world indeed,” he wrote before revealing the news.

Nwabali’s mother’s passing comes just two months after he lost his father.

His father’s death was announced in November, a few hours after the goalkeeper played in goal for the Super Eagles in their 1-1 draw against Benin Republic in their penultimate 2025 AFCON qualification match.

Although he has not disclosed the cause of his mother’s death, the news must have been a devastating blow, especially after he shared a 2024 recap video in the early hours of New Year’s Day.

“2024 was a good year, we’re doubling everything in 2025. Thank you Chippa United FC. Thank you Super Eagles. Thanks to all my fans. Let’s do more!” he wrote.

Continue Reading

BIG STORY

President Tinubu Orders Reintroduction Of History In Basic School Curriculum

Published

on

Tunji Alausa, the minister of education, says President Bola Tinubu has reaffirmed that “history” should and will be reintroduced as a subject in Nigeria’s basic schools.

“History,” reports indicate, was removed from Nigeria’s basic school curriculum in 2007, eliciting sharp criticism that spanned years.

In many cases from then on, historical topics were taught with little depth as part of “social studies.”

In 2018, the federal government ordered the nationwide re-introduction of “history” as an independent subject in the curriculum of primary and junior secondary schools in the country.

Adamu Adamu, the then minister of education, had stated that the Nigerian Education Research and Development Council (NERDC) would need to first carry out a disarticulation of “history” from the social studies curriculum.

He said a curriculum would be designed with topics to help students appreciate “history” as a national integration and nation-building tool.

The ex-minister said a total of 3,700 “history” teachers were shortlisted for the first round of training to enhance the teaching of “history.”

Education ministries at the state level, including those of Lagos and Taraba, have since been moving to implement the federal policy.

Tunji Alausa spoke on a Tuesday Channels TV show where he expressed concern that Nigeria’s youth are disconnected from its “history.”

“Let me go to basic education, the curriculum is good. What has been missing in the past is Nigerian “history.” We now have people of 30 years disconnected from our “history.” It doesn’t happen in any part of the world,” the minister said.

“President Bola Tinubu has mandated that we put that back in our curriculum and that is back. From 2025 our students in primary and secondary schools will have that as part of their studies.”

While validating the federal policy of re-introducing “history” as a basic school subject, the former minister Adamu Adamu argued that its absence had led to declining morals, erosion of civic values, and a disconnection of the citizenry from the country’s past.

Continue Reading

BIG STORY

2025: President Tinubu’s Reforms Will Unlock Nigeria’s Potentials — First Lady To Nigerians

Published

on

The First Lady of Nigeria, Senator Oluremi Tinubu, has expressed optimism about the nation’s future, describing 2025 as a year of “prosperity and abundance.”

In a New Year message to Nigerians posted on X on Wednesday, she called for unity and renewed efforts toward building a thriving nation.

Tinubu emphasised the need for collective investment in rebuilding societal bonds and fostering inclusivity across all regions and demographics.

She urged Nigerians to rise above divisions and work toward mutual respect and understanding.

“As we journey through 2025, let us rise above our differences and rebuild the bridges that connect us—bridges of love, respect, and understanding.”

“It is a year to invest in one another; to nurture our youth and protect the dignity of our elders; to create a country where every Nigerian can thrive, regardless of where they are born, what they believe, or what language they speak,” she said.

The First Lady highlighted the administration’s commitment to ongoing economic reforms aimed at unlocking Nigeria’s vast potential under the leadership of President Bola Tinubu.

She stated, “I assure you all that the administration of President Bola Ahmed Tinubu, GCFR is truly committed to and is already undertaking deepening reforms that will unlock our nation’s economic potentials.”

Senator Tinubu encouraged Nigerians to stand together and support one another, pledging that the government remains steadfast in its vision for a prosperous nation.

“Together, we can build the Nigeria we all desire. Together, we will. Happy New Year, Nigeria,” she added.

Continue Reading



 

Join Us On Facebook

Most Popular