THE AFRICA TIMES | NIGERIA — Nigeria’s stock market has emerged as the world’s best-performing equity market over the past year. It has surpassed South Korea by delivering a remarkable 67% return in U.S. dollar terms. This performance is primarily attributed to economic reforms, improved currency stability, and stronger corporate earnings, as noted by the head of the country’s securities regulator.
Market Performance Indicators
Timi Agama, the Director-General of Nigeria’s Securities and Exchange Commission (SEC), discussed this market rally in an interview with DNE Africa. He stated that the surge is a reflection of fundamental structural improvements, rather than speculative trading.
Agama remarked, “Nigeria doesn’t yet dominate the world in size. We dominate it in performance.” He emphasized that Nigeria ranks number one out of 92 exchanges
