In a recent episode of Follow the Money, host Ugodre analyzed the Nigerian stock market’s steep losses, which saw over N2 trillion wiped out in just one week.
The show highlighted that the All Share Index (ASI) dropped 2.3 percent for the week, pushing the month-to-date decline to 6.7 percent. By the end of November, Ugodre noted, the market had lost a staggering N4.78 trillion, describing it as a “really bloody” period for equities.
Several factors contributed to the sell-off, according to the host, with uncertainty around the Capital Gains Tax (CGT) cited as a major concern. Ugodre explained that the CGT tends to unsettle investors, keeping many from entering the market and exacerbating sell-offs.
The episode underscores ongoing challenges in Nigeria’s equities market, with fiscal policy uncertainties and investor sentiment playing a pivotal role in market performance.
