An article by Helen Oji published recently by The Guardian newspaper expressed concern about the future of the Nigerian stock market in the face of waning interest from millennials who are increasingly turning to alternative investment options in micro-finance, fintech, and cryptocurrencies. Findings revealed that causality runs from the stock market to economic activity and not the other way around. Several mobile trading applications have been launched in Nigeria over the past few of years, leading to an uptick in retail trading volumes on the Nigerian Stock Exchange (NSE). The Nigerian Stock Exchange was founded in 1961 and has 161 listed companies across a number of sectors. While I agree with Oji’s observation on scant youth participation, I disagree that this lack of participation will lead to the loss of relevance and eventual extinction of the Nigerian stock market.

Source: The Guardian July 05, 2021 03:30 UTC