Nigeria’s stock falls ahead of NSE boss’ 2016 forecast presentation

NIGERIA

Nigeria’s stocks on Wednesday fell to the lowest level since September 2012 as the Naira hit a record low of 300 Naira to the dollar. This comes as the CEO of the Nigerian Stock Exchange, Oscar Onyema is scheduled to make a presentation to appraise the market performance in 2015 and give a prediction for the market in 2016.

Following this fall in Nigeria’s stocks, the Stock Exchange Boss may be under a lot of pressure in advising Nigerians on the way forward.

Nigeria’s currency and stock market has been hit strongly by the continuous fall in the price of crude, which is the country’s major source of revenue. As of yesterday, the price of Brent fell to $30 a barrel, the lowest since 2004.

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