NSE  Surge 12 Percent in Fourteen Days as Nigerian Stocks Hits World’s Best.

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Enterprise Television- NSE  Surge 12 Percent in Fourteen Days as Nigerian Stocks Hits World’s Best.

The main equity index in Africa’s biggest economy has surged 12 per cent this year in dollar terms, the most among 96 major Bourse tracked by Bloomberg, pushing it to the highest level since 2008.The advance will probably be sustained thanks to rising prices for oil, Nigeria’s main export, and as investors look to increase their holdings of what remain among the cheapest stocks in Africa, according to the asset management arm of South African lender, FirstRand Ltd.

Dangote Cement PLC, controlled by Africa’s richest man, Aliko Dangote, and the largest company on the Bourse, has climbed to a record high.

“For investors wanting more exposure to consumers in Africa and Nigeria, in particular, the outlook is good,” said Paul Clark, a money manager in Johannesburg at Ashburton Investments, which owns Nigerian stocks including Seplat Petroleum Development Co. “The banking sector is probably the most attractive at the moment, especially the tier-2 lenders.