Stock market hits ₦‎1.51 trillion gain in response to Tinubu's inauguration

The market reacted positively to Tinubu's inaugural address and his economic objectives for the country.Following President Bola Tinubu's inauguration, the Nigerian Exchange Ltd. (NGX) stocks market opened trading for the week on a bullish note, fueled by investor confidence.Tinubu stated in his inauguration speech on Monday that the previous administration did not include gasoline subsidies in the 2023 budget, and that as part of initiatives to improve the Nigerian economy, he would secure a unified exchange rate. In particular, the market capitalisation increased by 1.505 trillion, or 5.22%, to close at 30.349 trillion, up from 28.844 trillion on Friday. In addition, the All-Share Index (ASI) increased by 2,764.47 points, or 5.22%, to 55,738.35, up from 52,973.88  recorded at the previous trading. Accordingly, the Year-to-Date gain moderated to 8.76%.