According to them, part of the current nosedive in the market was due to sell-down by foreign investors, due to uncertainties that shroud the nation’s economic outlook, occasioned by insecurity, kidnapping and recurrent farmers-headers clashes. Indeed, they stressed the need to generate more savings within the country through an incentivised voluntary measure to substitute foreign capacity. They argued that market stability could only be achieved through improved long term savings, noting that increased savings would also accelerate development and bolster the economy. We do not have good savings culture and we need to develop one.”An independent investor, Amaechi Egbo explained that if there were no savings, there would be no investment. “We advise professionals and other workers to invest in the stock market where they do not need anybody to monitor their investment.

Source: The Guardian July 08, 2021 04:18 UTC