Index to Nigerian Newspapers

Investors in the Nigerian stock market have softened their sentiment to 0.06 percent, down from 5.2 percent recorded the previous day. This was driven by a sustained demand for MTN Communication Nigeria (+0.40%), BUA Foods (+5.61%) and Geregu Power (+1.68%), which offset losses in tier-1 banking stocks. The All Share Index (ASI) rose to 55,769.28 points at the end of May, and the market capitalisation of all listed equities jumped to N30.367 trillion at the end of the month. The sectoral performance of the five major sectors was upbeat, with the banking sector leading the way with 19.5 percent, followed by the oil & gas sector with 18.7 percent, consumer goods with 15.2 percent, insurance and industrial goods with 13.4 percent and 1.8 percent respectively. Tinubu had promised to expand the economy by at least 6 percent a year, lift barriers to investment, create jobs and unify the exchange rate, while also tackling rampant insecurity. He also announced the end of the nation’s N400 billion fuel subsidy programme to ease pressure on government finances.

Investors in the Nigerian stock market have softened their sentiment to 0.06 percent, down from 5.2 percent recorded the previous day. This was driven by a sustained demand for MTN Communication Nigeria (+0.40%), BUA Foods (+5.61%) and Geregu Power (+1.68%), which offset losses in tier-1 banking stocks. The All Share Index (ASI) rose to 55,769.28 points at the end of May, and the market capitalisation of all listed equities jumped to N30.367 trillion at the end of the month. The sectoral performance of the five major sectors was upbeat, with the banking sector leading the way with 19.5 percent, followed by the oil & gas sector with 18.7 percent, consumer goods with 15.2 percent, insurance and industrial goods with 13.4 percent and 1.8 percent respectively. Tinubu had promised to expand the economy by at least 6 percent a year, lift barriers to investment, create jobs and unify the exchange rate, while also tackling rampant insecurity. He also announced the end of the nation’s N400 billion fuel subsidy programme to ease pressure on government finances.