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Nigeria should create investible instruments that could attract the US$20 billion diaspora remittance to overcome the illiquidity challenge, according to experts.
Nigeria should create investible instruments that could attract the US$20 billion diaspora remittance to overcome the illiquidity challenge, according to experts.
Increased volatility and illiquidity have continued to trigger a persistent downturn in the Nigerian Exchange Limited (NGX). This, in turn, also led negatively to market performance. The underperformance of Nigerian stocks since the 2007-08 global crisis has been attributed owing to illiquidity and low investors’ confidence. This will lead to a persistent fall in share prices of listed firms, with most blue-chip stocks recording a 10-year low.
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Nigeria topped sub-Saharan Africa (SSA) in remittances with $20 billion in 2021. The performance was a remarkable improvement from the $17.21 billion recorded in 2020.
