Capital market defies inflationary trend, crosses N55trn mark

Nigeria’s capital market capitalization as an aggregation of the value of companies has increased to over N55trillion despite the discrepancies between the naira and the American dollar.

The Director-General of the Security Exchange Commission (SEC), Lamido Yuguda, disclosed this during the opening ceremony of the 45th Kaduna International Trade Fair, held in Kaduna on Saturday.

According to Yuguda, Nigeria’s market capitalization is always increasing with the commission crossing over fifty-five trillion naira some few weeks ago.

The DG who was represented by the Head of the North-West Zonal Office of SEC, Mallam Danladi Muhammed, said the increasing revenue generated by Nigerian companies showed that it has built a more robust economy that had restored confidence both in the Nigerian companies and her people.

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He disclosed that the commission received an invitation from the Kaduna State Chamber of Commerce and Industry, Mines, and Agriculture to participate in the 45th Kaduna International Trade Fair, a relationship he described as a partnership in progress that is in line with their mandate of capital market development.

“Our market capitalization which is an aggregation of the value of companies of Nigeria is always increasing. It has crossed over 55 trillion naira as at last few weeks.

“The company is increasing and this shows that people are having increasing confidence in the Nigerian companies and in the Nigerian people”.

The SEC Director General also reiterated that the commission offers a lot of opportunities to investors in the capital market to expand their businesses secure their future and live a better life, urging Nigerians to take advantage of the process for their business expansion.

“For us, we see our participation in the 10-day duration of the trade fair as an opportunity to interact with Nigerians and in fact with international visitors and all participants, and what we are trying to do is to interact with people and let them know the advantage that is there for them in the capital market which the SEC is regulating on behalf of the Federal Government of Nigeria