By Aduragbemi Omiyale
Despite the stormy weather it faced, the Nigerian Exchange (NGX) Limited managed to yield a positive 19.98 per cent return in 2022.
In the third quarter of the year, things went awry for the local stock market, but like a brave fighter, the bourse bounced back toward the end of the fourth quarter against all odds and delivered the killer punch.
On the final trading day of the year, the exchange rose by 1.89 per cent amid enthusiasm from investors, who joined a filmmaker and producer of the award-winning King of Boys, Ms Kemi Adetiba, to close the market for the year on Friday, December 30, 2022.
Ms Adetiba, who also produced the Netflix-adapted Wedding Party, was invited to the closing gong ceremony of the NGX yesterday.
At the event, the chief executive of the bourse, Mr Temi Popoola, said the market stood very strong amid global macroeconomic challenges and volatility.
“It’s been a fantastic year for NGX, with a positive 19.98 per cent return.
“We’ve also seen several landmark listings in equity and fixed income, including BUA Foods and Geregu Power, which have played a key role in driving growth in the market this year,” Mr Popoola stated.
He praised Ms Adetiba, who is the founder of Kemi Adetiba Visuals, for her exceptional contributions to the entertainment industry.
“Kemi Adetiba has truly put Nigeria on the map with her incredible movie successes,” said Mr Popoola, adding that, “We’re excited to explore partnerships with the entertainment industry to catalyse its growth and bring even more success to the country.”
