Global stock markets pushed up $12.4trillion dollars in capitalization for the year 2017 with the US Stock Markets leading the volumes. Investors appetite to pile up more money into capital markets rose with promise of unbundling strict controls on the banking and financial markets that triggered the crisis in 2008 by two members of the US Congress known as Christopher Dodd and Barney Frank, as well as cutting down of corporate taxes by as much as 18% for corporate entities to 20% in the biggest tax cuts for the rich since President Richard Nixon in the 1980’s. CNN Money reports that Mauricio Macri’s led reforms in Argentina caused the stock market to rally up as much as 73% in the Year 2017, while Oscar Onyeama’s leadership of the Nigeria Stock Exchange set the bourse on a 43% recovery with a capitalization that has brought the all share index back to 13trillion naira, a level that was last seen in 2008 before the financial crisis.
Oil price slump that triggered a sharp drop in the value of the naira led foreign investors to sell off on the NSE, as well as policy uncertainties, Ebola Crisis, Militant attacks caused a route for the markets in 2015 & 2016. But the recovery in the price of oil that has also stabilized a flow of dollars in the wholesale dutch auction supply of currency to the markets has stabilized the naira and brought back the foreign direct investment flows into the capital markets.
Zin Bekalli, Founder & CEO of Silk Invest speaking to CNN Money said “If you look at where we stand today, the Nigerian markets is still one of the cheapest markets on the planet.”
On the 16th January 2018, Oscar Onyeama CEO of the Nigeria Stock Exchange will hold a Conference to present his plan to attract more listings of companies and bonds as a means to attract capital to the investors through the exchange, increase capitalization, boost investor confidence and promote credit flow in the Nigerian Economy.