Nigeria should have the highest valued company in Stock Exchange - Reno Omokri

Apple, an American company, is the largest company in the US Stock Market. AstraZeneca, a British pharmaceutical giant, is the largest firm in the UK stock market. SAP, a German conglomerate, is the largest concern in the German Stock Exchange. 

So, how come MTN, a South African firm, is the largest company in the Nigerian Stock Market? They control almost 17% of our entire stock exchange. The second is Airtel, an Indian company, with nearly 15%. 

That is why there is a downward pressure on the Naira. Because we gleefully patronise these foreign behemoths, who repatriate their billions of dollars in profit to their home countries, leaving the Naira stranded. 

For every Naira traded in our stock exchange, at least 50 Kobo develops wings and flies to South Africa, India, Europe and America. And we say Nigeria is an independent nation? 

And this will continue, and the Naira will go downhill. And you will grow poorer. 

Unless you start patronising Nigerian brands, like Globacom Nigeria, the Dangote Group, Innoson Motors, Air Peace, and BUA, which are wholly Nigerian-owned and whose profits circulate here in Nigeria, adding value to the Naira!

Until a Nigerian company is the number one form on the Nigerian Stock Exchange, we will only blame the government when our own consumption habits as citizens are the chief causative factors for a weak Naira! 

Apple, an American company, is the largest company in the US Stock Market. AstraZeneca, a British pharmaceutical giant, is the largest firm in the UK stock market. SAP, a German conglomerate, is the largest concern in the German Stock Exchange.

So, how come MTN, a South African… pic.twitter.com/XZTAFl4HWU

— Reno Omokri (@renoomokri) July 20, 2023

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