Investors, Relax! Nigeria’s Market Immune To Trump Tensions, Says Oyedele

Taiwo Oyedele, Chairman of the Presidential Committee on Tax Policy and Fiscal Reforms, has dismissed claims that recent fluctuations in the Nigerian Exchange (NGX) are connected to comments made by former U.S. President Donald Trump about Nigeria.....KINDLY READ THE FULL STORY HERE▶

Speaking on Channels Television’s Business Morning, Oyedele explained that the market movements are part of regular cycles rather than politically driven sell-offs. He highlighted that Nigeria’s capital market continues to be among the top-performing markets globally.

Oyedele noted that investors often take profits after sustained gains, resulting in temporary declines that should not be mistaken for panic reactions.

He stated, “The capital market naturally experiences ups and downs. Even after yesterday’s sell-off, returns still stand at roughly 40 percent, and about 50 percent in dollar terms. This remains one of the world’s best-performing markets, and we aim for even better performance. No market, however, rises continuously without correction.

“The misconception arose when a few days of decline followed a long period of gains, with some attributing it to the capital gains tax—which is incorrect—and Trump’s comments on Nigeria over the genocide issue.”

Oyedele added that, if any sell-offs had been triggered by Trump’s remarks, they would likely come from foreign investors, since local investors have no alternative outlets for their investments.

He concluded that the recent dip is merely part of normal market cycles and not the result of external political tensions. “It’s just the usual up-and-down movement. Misattributing causes only fuels unnecessary market sentiment,” he said.