Why is the capital market booming as the economy flounders?
Asks Chamberlain Peterside, Ph.D Best amongst equals The news that Nigerian stock exchange was the best performing market in 2007 must be quite elating to investors. The all-share index appreciated by a whopping 115 percent, trumping all other stock markets in the world, including advanced and emerging markets. If you are in the majority, that doesnt understand the market or dont have excess funds to invest this virtually means nothing to you but rather raises some anxiety. Records show that about less than 5 percent of Nigerias population actually invests in the market. The bull-run since 2005 has been nothing short of phenomenal; number of listed stocks during 2007 increased by 12, as billions of Naira was raised by companies. Banks were especially the front-runners in the fund-raising frenzy, some returning to the market several times since 2005 to source additional money, yet each successive stock-offering has been oversubscribed since then, according to published results. This tre
