The Securities and Exchange Commission has expressed the firm belief that the Nigerian Capital Market, as an organized and specialized financial market that drives capital mobilization through domestic savings and foreign capital inflows, if well positioned for the realization of the objectives of the 2023 Budget of Fiscal consolidation and Transition.
Director General of the SEC Mr. Lamido Yuguda stated this in a recent interview in Abuja. Yuguda disclosed that the Nigerian equities market ended the year on a positive note as the NGX All-Share Index (ASI) which started at 42,716.40 points, ended the year 2022 at 51,251.06 points, indicating a 19.98 per cent growth.
While the FMDQ, despite the headwinds in the economy, recorded a total market turnover of N199.88 trillion by year-end, which was an increase of half percentage point compared to N198.93 trillion in 2021. While admitting that the year 2022 was a turbulent one that brought with it increased inflationary pressure and consequent increase in interest rates for the global economy, he however expressed optimism that inflationary pressures would be managed in the not-too-distant future. -THE SUN
