The Nigerian Stock Exchange (NSE) rang the final closing bell for the 2011 year at 2:30pm on December 30th, 2011, bringing to a close an eventful year for the Nigerian capital market. In line with global markets, our market struggled throughout 2011. While investors and market operators grappled with difficult local conditions, the market proved it was and is not isolated from events affecting local and global financial markets and economies. This trend, however, was counterbalanced by the NSE’s delivery of key initiatives for the development of the capital market. Throughout the year, the NSE maintained focus on transforming the Exchange and reforming the market to be more efficient and innovative.
The new Nigerian Stock Exchange provides a vehicle for long-term ‘saving’ and ‘borrowing’, and hence, efficient use of financial resources. In terms of global exchange trends, this cyclical market cycle presents incredible opportunity for investors. As the reforms continue, we remain confident that by year’s end, the market will be well on its way to recovering its vibrancy.