The Nigerian Exchange’s All-Share Index recorded a 0.02% gain on Friday to close President Tinubu’s first week in office at 55,820.50 points, making it 5.37% advancement in the 4-day trading week.
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It also meant that the NGX All-Share Index gained for the fourth consecutive day, and everyday of Tinubu’s presidency so far.
Bola Ahmed Tinubu was sworn in as the 16th President of Nigeria since independence, and the 5th since the country returned to democratic rule in 1999 on Monday 29th May, 2023.
Prior to the swearing-in of Ahmed Bola Tinubu as the President, Investogist analysed the performance of the Nigerian Exchange All-Share Index between the day Bola Tinubu was declared winner and the day he was sworn in.
The All-Share Index (ASI) tracks the general market movement of all listed equities on Nigerian Exchange, including those listed on the Growth Board, regardless of capitalization.
Investogist’s analysis showed that the market and investors had not reacted to the emergence of Bola Tinubu as the President of Nigeria.
We analysed the movement of the All-Share Index in the first four days in office of the past presidents in the present democratic dispensation, from President Obasanjo to President Tinubu, and our findings found that the best performance has been recorded under President Tinubu.
President Olusegun Obasanjo (Sworn-in on 29th May, 1999)
President Olusegun Obasanjo was sworn in as President for his first term on 29th May, 1999, being a Saturday.
On Friday 28th May, 1999, the last day of trading before his inauguration, the All-Share Index closed at 4,919.51.
On Thursday 3rd June, 1999, four trading days after his inauguration, the All-Share Index closed at 4,996.99 points.
The All-Share Index had advanced by 77.48 points, a 1.57% increase from the day he was sworn in.
President Umaru Musa Yar’Adua (Sworn-in on 29th May, 2007)
President Umaru Musa Yar’Adua was sworn in as President on 29th May, 2007, being a Tuesday.
On Monday 28th May, 2007, the last day of trading before his inauguration, the All-Share Index closed at 49,159.46.
On Monday 4th June, 2007, four trading days after his inauguration, the All-Share Index closed at 51,383.64 points.
The All-Share Index had advanced by 2,224.18 points, a 4.52% increase from the day he was sworn in.
President Goodluck Ebele Jonathan (Sworn-in on 29th May, 2011)
President Goodluck Ebele Jonathan was sworn in for his full term as President on 29th May, 2011, being a Sunday.
On Friday 27th May, 2011, the last day of trading before his inauguration, the All-Share Index closed at 25,829.75.
On Thursday 3rd June, 2011, four trading days after his inauguration, the All-Share Index closed at 25,963.50 points.
The All-Share Index had advanced by 133.75 points, a 0.52% increase from the day he was sworn in.
It should be noted that Goodluck Jonathan was sworn in as the 14th president of Nigerian on Wednesday 5th May, 2010 following the death of President Yar’Adua, to whom he was his vice-president.
On Tuesday 4th May, 2010, the last day of trading before his swearing-in, the All-Share Index closed at 26,837.03.
On Wednesday 12th May, 2010, four trading days after his inauguration, the All-Share Index closed at 27,816.29 points.
The All-Share Index had advanced by 979.26 points, a 3.65% increase from the day he was sworn in.
In 2011, he contested and won the election, and was sworn in for his full term.
President Muhammadu Buhari (Sworn-in on 29th May, 2015)
President Muhammadu Buhari was sworn in as President on 29th May, 2015, being a Friday.
On Thursday 28th May, 2015, the last day of trading before his inauguration, the All-Share Index closed at 34,310.37.
On Thursday 2nd June, 2014, four trading days after his inauguration, the All-Share Index closed at 33,466.41 points.
The All-Share Index had declined by 843.96 points, a 2.46% decrease from the day he was sworn in.
Comparison between the Presidents
| ASI before Inauguration | ASI 4 days after Inauguraton | Change in ASI | % Change in ASI | |
|---|---|---|---|---|
| Olusegun Obasanjo (1999) | 4,919.51 | 4,996.99 | 77.48 | 1.57 |
| Umaru Musa Yar'Adua (2007) | 49,159.46 | 51,383.64 | 2,224.18 | 4.52 |
| Goodluck Jonathan (2010) | 26,837.03 | 27,816.29 | 979.26 | 3.65 |
| Goodluck Jonathan (2011) | 25,829.75 | 25,963.50 | 133.75 | 0.52 |
| Muhammadu Buhari (2015) | 34,310.37 | 33,466.41 | -843.96 | -2.46 |
| Bola Ahmed Tinubu (2023) | 52,973.88 | 55,820.50 | 2,846.62 | 5.37 |
Nnamdi Maduakor is a Writer, Investor and Entrepreneur
