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Mirage or Measurement? Putting Nigeria’s Stock Market to the Dollar Test

Dave Adekunle I read an essay titled: ‘Tinubu’s Fake Economic Theory and The Stock Market: Why His Booming Economic Claim Is Delusion of Grandeur.’ The essay arrived in my inbox

  • Nigeria's stock market rally may be an optical illusion due to naira devaluation.
  • Bloomberg data shows Nigeria's All-Share Index as top-performing in dollar terms in July 2026.
  • Domestic investors accounted for 89% of participation in the Nigerian Exchange in 2025.

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