In the latest episode of “Follow the Money with Ugodre,” we analyzed a busy week filled with crucial economic updates and market movements.
Last week, key macroeconomic numbers were released, including GDP figures and the outcomes of the Monetary Policy Committee (MPC) meeting.
The MPC voted to increase the Monetary Policy Rate (MPR) by 150 basis points to 26.25%, with discussions focusing on the reasons behind the Central Bank of Nigeria’s decision.
The GDP for 2024 Q1 grew by 2.98%, slightly lower than the 3.4% recorded in the previous quarter but higher than the 2.3% from a year ago.
On the stock market, the NGX All-Share Index (ASI) continued its downward trend, falling by 0.5% to close the week at 97,612 points, with the market capitalization at 55 trillion naira.
The overall ASI is up 30.5% year-to-date, but the market saw a 6% loss for the quarter.
Finally, Ugodre zeroed in on 4 key Insurance Stocks that made the cut as his stock picks for the week. Find out the stock picks and many more, on this episode of FTM.
Listen to the full episode for comprehensive insights and analysis.