Nigerian stocks post record N1.5tn gain after Tinubu takes helm

The Nigerian stock market surged more than 5 percent on Tuesday, the first trading day after Bola Tinubu took the helm of Africa’s biggest economy. 

The All Share Index of the Nigerian Exchange Limited jumped to 55,738.35 basis points from 52,973.88 on Friday, while the market capitalisation of equities spiked by over N1.5 trillion to N30.35 trillion.

MTN Nigeria Communications Plc consolidated its position as the most valuable firm on the bourse as it gained 7.53 percent in market value to close at N5.09 trillion. Dangote Cement saw its market cap rise 7.41 percent to N4.94 trillion, leaving Airtel Africa Plc in the dust as its value remained unchanged at N4.42 trillion.

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