{"id":107917,"date":"2024-01-22T11:23:37","date_gmt":"2024-01-22T10:23:37","guid":{"rendered":"https:\/\/www.africa-press.net\/nigeria\/uncategorized\/ngxs-growth-nigerians-are-poorer-under-tinubu-govt-innovator-ndubuisi-ekekwe"},"modified":"2024-01-22T13:50:41","modified_gmt":"2024-01-22T12:50:41","slug":"ngxs-growth-nigerians-are-poorer-under-tinubu-govt-innovator-ndubuisi-ekekwe","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/nigeria\/policy\/ngxs-growth-nigerians-are-poorer-under-tinubu-govt-innovator-ndubuisi-ekekwe","title":{"rendered":"NGX\u2019s growth: Nigerians are poorer under Tinubu govt \u2013 Innovator, Ndubuisi Ekekwe"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Nigeria. <\/strong><\/span>A United States-based innovator and tech entrepreneur, Prof Ndubuisi Ekekwe, says while the Nigerian Stock Exchange has recorded impressive growth in the last eight months under President Bola Ahmed Tinubu, the irony is that more Nigerians are poorer.<\/p>\n<p>Ndubuisi reacted to an article titled, \u201cIn eight months of Tinubu administration, Nigeria\u2019s stock market\u201d, written by Bayo Onanuga, the Presidential aide on Information and Strategy.<\/p>\n<p>Onanuga said NGX achieved 45.90 per cent growth in 2023, the highest compared to S &amp; P 500, Shanghai Stock Exchange, Johannesburg, Ghana Stock SE, and Nairobi SE.<\/p>\n<p>Reacting, Ekekwe said although the growth rate of NGX was factual, the boom in stocks and equities had made many people poorer and depressed.<\/p>\n<p>According to him, foreign investors were not tripping into Nigeria despite the country\u2019s stock growth because of the fall in the value of the Naira and soaring inflation, which was quoted at 28.92 per cent in December.<\/p>\n<p>\u201cThe Nigeria stock exchange has been growing on absolute Naira, but on the real value, it is not. That statement is factual, but the irony is that the growth, as noted by Bayo, has made many people poorer and depressed the overall value of the stock market.<\/p>\n<p>\u201cThat is why foreign investors are not coming for that 45 per cent gain because if you made 45 per cent on equity but lost 50 per cent on currency, with 30 per cent on inflation, you are poorer\u201d, he said.<\/p>\n<p>At the close of work on Friday, the NGX\u2019s All-share index recorded an all-time high of 94,538.12 points, gaining 2.87 per cent.<\/p>\n<p>The development comes as the NGX\u2019s All-Share Index grew by 45.90 per cent in 2023.<\/p>\n<p><strong>For More News And Analysis About <a href=\"https:\/\/www.africa-press.net\/nigeria\">Nigeria<\/a> Follow <a href=\"https:\/\/www.africa-press.net\/\">Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Nigeria. A United States-based innovator and tech entrepreneur, Prof Ndubuisi Ekekwe, says while the Nigerian Stock Exchange has recorded impressive growth in the last eight months under President Bola Ahmed Tinubu, the irony is that more Nigerians are poorer. Ndubuisi reacted to an article titled, \u201cIn eight months of Tinubu administration, Nigeria\u2019s stock [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":107916,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,14],"tags":[1570,2140,12502,254,1670,945],"class_list":["post-107917","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-policy","tag-africa-press","tag-africa-press-nigeria-2","tag-ndubuisi-ekekwe","tag-nigeria","tag-nigerians","tag-tinubu"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>NGX\u2019s growth: Nigerians are poorer under Tinubu govt \u2013 Innovator, Ndubuisi Ekekwe - Nigeria<\/title>\n<meta name=\"description\" content=\"A United States-based innovator and tech entrepreneur, Prof Ndubuisi Ekekwe, says while the Nigerian Stock Exchange has ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/nigeria\/policy\/ngxs-growth-nigerians-are-poorer-under-tinubu-govt-innovator-ndubuisi-ekekwe\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NGX\u2019s growth: Nigerians are poorer under Tinubu govt \u2013 Innovator, Ndubuisi Ekekwe\" \/>\n<meta property=\"og:description\" content=\"A United States-based innovator and tech entrepreneur, Prof Ndubuisi Ekekwe, says while the Nigerian Stock Exchange has ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/nigeria\/policy\/ngxs-growth-nigerians-are-poorer-under-tinubu-govt-innovator-ndubuisi-ekekwe\" \/>\n<meta property=\"og:site_name\" content=\"Nigeria\" \/>\n<meta property=\"article:published_time\" content=\"2024-01-22T10:23:37+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-01-22T12:50:41+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2024\/01\/sm_1705911353.373592.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"700\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/ngxs-growth-nigerians-are-poorer-under-tinubu-govt-innovator-ndubuisi-ekekwe#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/ngxs-growth-nigerians-are-poorer-under-tinubu-govt-innovator-ndubuisi-ekekwe\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"NGX\u2019s growth: Nigerians are poorer under Tinubu govt \u2013 Innovator, Ndubuisi Ekekwe\",\"datePublished\":\"2024-01-22T10:23:37+00:00\",\"dateModified\":\"2024-01-22T12:50:41+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/ngxs-growth-nigerians-are-poorer-under-tinubu-govt-innovator-ndubuisi-ekekwe\"},\"wordCount\":294,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/ngxs-growth-nigerians-are-poorer-under-tinubu-govt-innovator-ndubuisi-ekekwe#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2024\/01\/sm_1705911353.373592.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Nigeria\",\"Ndubuisi Ekekwe\",\"Nigeria\",\"nigerians\",\"Tinubu\"],\"articleSection\":[\"all news\",\"Policy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/nigeria\/policy\/ngxs-growth-nigerians-are-poorer-under-tinubu-govt-innovator-ndubuisi-ekekwe#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/ngxs-growth-nigerians-are-poorer-under-tinubu-govt-innovator-ndubuisi-ekekwe\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/ngxs-growth-nigerians-are-poorer-under-tinubu-govt-innovator-ndubuisi-ekekwe\",\"name\":\"NGX\u2019s growth: Nigerians are poorer under Tinubu govt \u2013 Innovator, Ndubuisi Ekekwe - 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