El-Rufai: There Are Now More Poor Nigerians Than Our 1960 Population

*Decries persistent low voter turnout, seeks true federalism 

*APC: Opposition leaders weaponising grudges against President 

*Ruling party insists Atiku, Obi, El-Rufai, failing to provide leadership for their parties 

*Catholic church, ADC condemn disruption of Owerri lecture

Chuks Okocha,  Adedayo Akinwale in Abuja and Amby Uneze, Tony Icheku in Owerri

A former Kaduna State Governor, Nasir El-Rufai, at the weekend insisted that there are more poorer Nigerians in the nation today than during the period of the country’s independence in 1960.
El-Rufai, a former Minister of the Federal Capital Territory (FCT) said if the Nigerian government makes it a priority, it can end poverty like China and India, which he said, are in the process of beating the social menace.
The politician, a key member of the African Democratic Congress (ADC) disclosed this during an interactive session in Owerri, Imo State, titled: “Moving Forward Together”.

In his speech at the event, the former governor said that while other countries like China and India have largely conquered poverty, Nigeria has no master plan yet to achieve the same.
“For the sake of our people, we need to have a roadmap for beating mass poverty. It is deeply embarrassing that, judging from the population estimate in 1960, there are now more poor Nigerians than there were Nigerians at independence 65 years ago. China has beaten mass poverty, while India is on a path to ending it.

“We too can do it, if we make it a governance priority to move our people out of poverty. We need an economic programme to achieve this important human goal, a programme that is pragmatic in execution but ambitious in its goal.

“ In this regard, what is needed is not new agencies of poverty alleviation or ‘humanitarian affairs’ with a massive bureaucracy, but innovative ways to make honest, hardworking citizens more productive and better-rewarded, while discouraging rent-seeking and other ‘get-rich-quick’ schemes in our society,” El-Rufai argued.
However, THISDAY check revealed that in 1960, Nigeria’s population was estimated at about 45 million as against over 220 million currently.

While there are no reliable statistics available on Nigeria’s poverty rate specifically for 1960, the very year of independence, THISDAY’s checks showed that most poverty data began in later decades—with the earliest comprehensive measure around 1980, when the poverty rate was approximately 27.2 per cent.
But by 2024, more than 54 per cent of Nigerians were estimated to live below the international extreme poverty line of $2.15/day, capturing about 129 million people.

Despite recent government efforts, the disparity between rural and urban poverty has been especially pronounced, with rural regions often exceeding 75 per cent.
Besides, El-Rufai questioned the persistent low voter turnout during elections in Nigeria, explaining that between 2003 and 2023, the proportion of Nigerian voters fell from 60 per cent to 30 per cent.

“In my view, one of the most pressing items for elite consensus is how our governments emerge in a democratic process. We need to agree on how to build trust in the electoral process and promote citizen participation. Our country has since 1999 conducted national elections as at when due.

“Given our stormy history, 25 years of unbroken rule by elected governments indicates that our country is on a pathway to democratic stability. But voter turnout at presidential elections has been declining since 2007. Less than 30 per cent of registered voters bothered to vote in 2023, down from over 60 per cent in 2003!
“Also, the integrity of every presidential election result from 1999 to date has been challenged in the courts, except in 2015 when President Goodluck Jonathan personally and commendably chose not to. Low voter turnout should worry every democrat because apathy by citizens who feel alienated from the political process could lead to unwelcome fragility.

“We should engage our citizens to find out why so many consistently forfeit their constitutional right to vote. We should try to ascertain what could encourage them to resume exercising that fundamental democratic right. This, in my view, should also include measures to assure them that the election process is free from threats of violence or coercion, while ensuring that the results would accurately reflect the preferences expressed by voters at the ballot box,” he pointed out.

He emphasised that there was a need for an elite consensus around free and fair elections, stressing that adopting a wholesale electronic system of voting as well as real-time transmission of results was central to having transparent polls.

“I do not see any compelling argument or unbridgeable barrier to adopting electronic voting and transmission of results for the 2027 elections. Based on our experience in preparing for and conducting local government elections in Kaduna State in 2018, I believe there is adequate time today, for INEC to acquire and deploy the hard and soft infrastructure needed to deliver this for the entire country at a much lower lifecycle cost than the current, unreliable system that has repeatedly been subject to human manipulation,” El-Rufai stated.

According to him, Nigeria can adopt electronic voting machines that are designed and configured to do at least five functions: Integrating the simultaneous identification and verification of the voter; providing a paper trail of votes cast at every polling unit and shutting down of the system at the predetermined deadline.

Besides, he called for the provision of a printout of the polling unit result for each party agent, presiding officer, the media and the security agencies, and a seamless transmission of the polling unit results on the conclusion of voting.
To him, there is an urgent need for the current and prospective office holders to focus not just on an ‘arithmetic’ of power, but on a national programme that addresses and solves societal problems as well as true federalism.

“This country was founded as a federation, but it appears that there are very few committed federalists in Nigeria. Recent experience would seem to suggest that federalism is a concept often touted by those seeking power who promptly forget about it once suitably empowered.

“ Our experience in the First Republic, as well as the consensus of scholars have credited federalism with helping to advance inter-ethnic unity, democratic stability, and socio-economic development. The intrusion of a unitary, centralising mindset from the 1970s onwards appears to have limited these well-known attributes of federalism.
“My personal view is that promoting federalism is in the interest of Nigeria’s progress and development. The attempt to run Nigeria as a unitary polity runs contrary to its founding constitutional structure and denies its rich diversity.

The federal government has since the 1970s acquired more powers and resources but it does too much but too little well.
“More powers, resources and responsibilities should be devolved to the states, including policing. I welcome the progress made in the 2023 constitutional amendment that moved electricity and railways to the concurrent list, thereby allowing states to own, operate and regulate entities in those sectors. But we should go further and implement the recommendations made in 2018 by the APC Committee on True Federalism which I chaired,” he suggested.

In a similar development, the Administrator of the Maria Assumpta Catholic Cathedral, Owerri, Imo State, Rev. Fr. Martin Ohajunwa, has condemned the ‘act of hooliganism’ exhibited by some hired thugs at the weekend to disrupt the Odenigbo Lecture that was going on at the premises of Maria Assumpta Catholic Cathedral Owerri.
The Imo State Chapter of the African Democratic Party (ADC) also frowned on the inglorious act as it called on the Imo State Government and the police to fish out the perpetrators and punish them.

In a sermon on Sunday at the Maria Assumpta Catholic Cathedral, Owerri, Ohajunwa described the  brigandage as a ‘slap on Igbos’ noting that Igbo people should rise up and live above such condemnable acts.
He warned the youths of Igbo extraction to find something meaningful to do instead of getting involved in political thuggery that would eventually damage their future.

According to him, those who sent the youths to Maria Assumpta Catholic Cathedral Owerri made a very big mistake because from the history of the church, dating back to the civil war, all attempts to bomb the place were unsuccessful.
He stated that some of the hoodlums that were arrested by the Church security revealed the identity of their sponsors and warned them to desist forthwith from smearing the premises of the church, adding “the wrath of God would descend on them.”

THISDAY reliably gathered thugs were sent to disrupt the speech of the former governor of Kaduna State, El-Rufai, who came on a private visit to the state and decided to attend the church function.
Meanwhile, the ADC, Imo State Chapter, has condemned the desecration of the Odenigbo Lecture organized by the Assumpta Catholic Archdiocese of Owerri, describing the act as deeply alarming and threatening to the peace, stability, and moral fabric of Imo State.

The party’s press release signed by the State Public Secretary, Chief Macdonald Amadi, stated that such acts of lawlessness are unacceptable and must be addressed decisively.
“We condemn this blatant display of thuggery in the strongest possible terms. The perpetrators’ actions are not only a direct affront to the Catholic Church but also a threat to societal harmony, particularly as the nation approaches critical electoral exercises. The rule of law must prevail over chaos and intimidation.

“The ADC Imo State Chapter calls on the Imo State Government and all security agencies to arrest and prosecute the perpetrators to serve as a deterrent against future acts of lawlessness, ensure the safety and security of citizens, particularly during religious and civic events and uphold the rule of law and protect the sanctity of places of worship and public gatherings.

“We further urge all citizens to remain calm, peaceful, and disciplined. The strength of Imo State lies in its people’s respect for law, tolerance, and civic responsibility.
“Imo State has always stood as a beacon of peace, learning, and hospitality. Our people are industrious, tolerant, and deeply rooted in republican values that celebrate dialogue, engagement, and respect for law and order.

“We will not allow fringe elements, paid provocateurs, or acts of violence to redefine our heritage or tarnish the image of our state. Ndi-Imo remains steadfast in discipline and civility, showing that true strength lies in ideas, integrity, and peaceful action, not in chaos or intimidation,” the release stated.

But the All Progressives Congress (APC) has said that opposition leaders,  including former Vice President Atiku Abubakar, former Governors of Kaduna, Sokoto, Anambra and Rivers states,  El-Rufai, Aminu Tambuwal, Mr. Peter Obi and Mr. Rotimi Amaechi have failed to provide leadership, purpose, direction and vitality to their parties.

The National Publicity Secretary of the party, Felix Morka in a statement issued yesterday said rather than focus their attention and touted leadership abilities to building viable opposition parties, they prefer to play the blame game, pointing fingers at the APC for failure that is entirely their own.  

Morka noted that a justification for democratic political opposition exists essentially in its role to hold the government accountable to govern in accordance with the rule of law and democratic norms.

Morka, while reacting to a recent interview where Tambuwal accused President Bola Tinubu and APC of plotting the destabilisation of opposition parties in the country, said he  offered no substantiation of his bogus claims.

He noted that it was now clear to Nigerians that the present crop of opposition leaders have lost focus aside from their compulsive and obsessive crave for power and patronage that feed their ego and greed.

He added: “Opposition politics is not simply about membership of a political party different from the ruling party. It is not just about the freedom to zap in and out of political parties based on purely selfish political calculations.

“ It is also not about the freedom to bandy false narratives, peddle lies and engage in smear campaigns designed to sow discord and mislead the public. Opposition politics is certainly not also about weaponising grudges disguised as opposition critiques.

“It is perplexing that these opposition leaders – the likes of Tambuwal, Alhaji Atiku Abubakar, Mallam Nasir El-Rufai, Mr. Peter Obi and Mr. Rotimi Amechi – who have occupied some of the highest political offices in our country have failed, horridly and disgracefully, to provide leadership, purpose, direction and vitality to their parties.

“It is also about the duty of opposition leaders to take responsibility and accountability for their failure as leaders of their parties.”

Morka maintained that without effective leadership, opposition parties cannot perform their ascribed role of promoting accountability of governance or its role to provide credible policy alternatives or extending cooperation to the ruling party in pursuit of progress, and achieving the common good.

He wondered how anyone could take present day opposition leaders seriously as capable of leading Nigeria at this moment in the nation’s history when they have proved so grossly incapable of leading their parties.

“Opposition leaders remain in denial while their parties drift, rudderless at sea, as their members peel away in droves. The opposition’s attempt at building a coalition remains a figment that is not coalescing due to the hostile takeover of the  ADC that is now unraveling in crippling dimensions, and the competing selfishness, desperation and arrogance of its leaders.”

The spokesperson said the ruling party would continue to strengthen its internal democratic systems to stand stronger, and serve Nigerians better

He said  that as a government, Tinubu remained resolute and focused on rebuilding generationally neglected foundations of its economic life and repositioning the country for sustainable progress.

The post El-Rufai: There Are Now More Poor Nigerians Than Our 1960 Population appeared first on THISDAYLIVE.

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    •Says continent spends over $120bn annually on hydrocarbons imports 

    •Highlights people, asset integrity, reliability as  growth drivers

    Emmanuel Addeh in Abuja

    Amid recent divestments by International Oil Companies (IOCs), the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has revealed that the takeover of some assets by indigenous firms has led to the addition of 200,000 bpd to the nation’s crude output.

    IOCs such as Shell, ExxonMobil, TotalEnergies, and Eni have recently been reducing or selling off their onshore and shallow-water oil and gas assets in the country, shifting their focus to deepwater operations.

    Lokpobiri, who delivered a keynote address on behalf of President Bola Tinubu at the Africa Energy Week (AEW) in Cape Town, South Africa, also highlighted the need for more cooperation among African countries to explore the roughly $4 trillion in domestic capital, including pension and insurance funds.

    He outlined the bold policy measures implemented under the current administration, particularly the Petroleum Industry Act (PIA), which provides a clear and predictable fiscal and regulatory environment The PIA, he said, has laid the foundation for licensing transparency, host community engagement, strengthened regulatory oversight, and a fair contractual framework. “What makes Nigeria now different is the legal, regulatory, financial, and structural transformation we are delivering,” the minister said.

    A statement yesterday by Lokpobiri’s spokesperson, Nneamaka Okafor, quoted the minister as declaring that Nigeria is “open for business” and actively pursuing policies that prioritise investment, efficiency, and long-term growth in the oil sector.

    “This gathering is more than a conference, it is a call to action,” he said, stressing that Nigeria is ready not just to participate in the global energy market, but to lead reform and growth on the African continent.

    “Nigeria’s upstream sector is showing signs of strong recovery. The Project ‘One Million Barrels initiative’, launched in October 2024, has raised daily crude oil production to between 1.7 and 1.83 million barrels per day, with a notable increase of 300,000 barrels per day in July 2025 alone.

    “Additionally, the number of active drilling rigs has grown from 31 in January to 50 by July 2025, a clear signal that reforms are unlocking value across the sector,” he added.

    Besides, Lokpobiri stated that the recent asset divestments by IOCs have unlocked over $5.5 billion in Final Investment Decisions (FIDs) within months.

    “These are not just transfers of assets, they are transfers of confidence, capability, and ownership,” he stated. The divestments have already added approximately 200,000 barrels per day to national production, the minister said.

    Speaking in the broader African context,  Lokpobiri urged the continent to retain more value from its hydrocarbon resources by focusing on infrastructure, industrial development, and localised value chains. He noted that Africa spends over $120 billion annually on hydrocarbons, largely through imports, calling it a missed opportunity for economic transformation.

    He advocated for stronger intra-African collaboration and financing, emphasising that Africa holds nearly $4 trillion in domestic capital, including pension and insurance funds. “The question is no longer about the availability of funds, but how we can channel them into productive investments on our continent,” he said.

    Addressing the topic of the global energy conversation, the minister called for balance and equity. He insisted that the narrative must shift toward a diverse energy mix, not abandonment of any resource.

    “The focus should be on availability, accessibility, and affordability of all forms of energy,” he stressed. He made it clear that Nigeria, like other nations, will continue to utilise its oil resources responsibly while building a diversified and sustainable energy base.

    Lokpobiri reaffirmed Nigeria’s role as a leading energy player in Africa. “We are offering opportunities at scale, reform with consistency, incentives with clarity, local participation with respect, and a vision that modernises with purpose,” he declared.

    He extended an invitation to global investors, urging them to come to Nigeria and  “Be part of the energy revolution.” Lokpobiri explained that with strong reforms, ambitious targets, and an open-door policy, Nigeria is charting a bold path forward in Africa’s energy future.

    Also speaking at the event, top officials of Seplat Energy Plc, a leading Nigerian independent energy company, which acquired some Mobil Producing Nigeria Unlimited (MPNU) assets recently, stated that the firm has raised more than $4 billion in debt to develop and grow operations whilst continuing to maintain a low leverage threshold of below 1.5x through the cycle.

    Chief Executive Officer of the company, Roger Brown, said Seplat recorded unprecedented growth since it was founded by acquiring divested assets, unlocking value from them, improving efficiency and safety performance of the assets, whilst driving the entire growth process with a world-class and resilient workforce.

    Brown, who spoke during a Fireside Chat titled “Assets Acquisition Success Strategies: Seplat Energy”, said the company has successfully integrated major acquisitions in the last decade, each time improving efficiency and safety performance, while at the same time reducing routine emissions.

    Speaking on its most recent acquisition of MPNU assets, he said the goal had been to move quickly to re-engage wells and facilities – resulting in the delivery of immediate results; investing early in integrity and reliability – thus reducing downtime while setting a foundation for future growth; and integrating not isn’t just systems, but people.

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    According to the Seplat CEO, by combining Seplat’s onshore experience with decades of offshore know-how from new colleagues, the company has built a stronger operation from day one, which is already delivering higher cash flow.

    “The recent reserves upgrade shows we have acquired a high-quality asset with significant production potential in both oil and gas, and much of this is within easy reach, close to export infrastructure that we control. We are confident we can increase production and that aligns with the government’s target to increase liquids production to 3 million barrels, and to increase gas production for both domestic energy and export markets,” he added.   

    Speaking of the company’s strong operator mindset, Brown said Seplat Energy focuses on acquiring assets where its operating capability can unlock hidden value – especially mature fields that benefit from a more agile, entrepreneurial operator.

    “We’ve already proven we can acquire assets onshore and bring them up to high levels of production, whilst keeping tight control of costs, and this has helped us build up a strong balance sheet, invest in our future and return a healthy dividend stream to investors,” Brown stressed.

    On the company’s clear appetite for success, the Seplat Energy boss said the focus had always been on safety and operational excellence, which are targeted at maximising production and cash flows that strengthen the business.

    “We’re a low-cost operator, meaning we can be profitable at good oil prices and we’ve proven we can survive periods of low prices and prolonged lock-ins. We look after our staff, all of whom are very highly qualified, mostly Nigerian, and ensure they are fully aligned with our success, which in turn will bring success for Nigeria’s energy system. We’ve got a deep bench and a strong succession pipeline,” he explained.

    In the same vein, Chief Financial Officer (CFO), Seplat Energy Plc, Eleanor Adaralegbe, who spoke during a panel discussion titled: “Financing Upstream Projects for Domestic Energy Security”, said since inception, the company has continued to blaze the trail with a highly successful capital raising history, of which the company had raised more than $4 billion in debt to develop and grow operations.

    On the various financing options the company had leveraged since inception, Adaralegbe identified the Initial Public Offer (IPO), Revolving Credit Facility (RCF), Bonds, Advance Payment Facility, as well as other financings like taking over the $110 million RBL, which is currently being refinanced (on Eland acquisition of 2019; and putting in place a $320 million project financing for ANOH, Seplat’s 50/50 JV with the Nigerian Gas Infrastructure Company (a 100 per cent wholly owned subsidiary of NNPC).

    Speaking on financing challenges and what Seplat Energy had done to overcome them, she said: “Corporates are always looking to access low-cost financing for development and growth, more so, Nigerian energy companies, as Nigerian banks have a high USD cost of borrowing. As such, we knew that we had to become a first mover and shape our credit profile to appeal to a wider group of banks and investors. We are the first and only dual listed Nigerian oil and gas company.”

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    “Seplat Energy has repeatedly been able to refinance to extend maturities and bring down our cost of debt while keeping leverage moderate. We have been able to do this because we are focused on things that lenders are focused on – asset diversification, steady production, strong financials, low leverage, focus on tax efficiencies, strong leadership,” Adaralegbe explained.

    On the importance of financing, she said Nigeria’s energy security depended heavily on upstream oil and gas, which fuels both domestic consumption and foreign exchange earnings; declining investment in upstream projects due to global energy transition pressures and perceived risks; and rising domestic demand for gas and power requires urgent expansion of upstream activity, particularly gas exploration and production.

    “Until utility-scale renewables, storage, and transmission are materially larger, Nigeria’s ability to keep lights on, vehicles moving, industries running, and households cooking cleanly is fundamentally constrained by upstream oil and gas development, output and associated midstream delivery –  that is upstream development is a direct lever on national energy security,” she advised.

    According to Adaralegbe, a stable and predictable fiscal framework is the single most powerful enabler of upstream financing; of which consistent application of PIA provisions, timely JV cash-call settlements, and clarity on commodity pricing policies are essential to de-risk projects and crowd in long-term capital.

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    •Seeks greater integration amid $4tn in Africa’s domestic capital  •Says continent spends over $120bn annually on hydrocarbons imports  •Highlights people, asset integrity, reliability as  growth drivers Emmanuel Addeh in Abuja

    Capital Market Operators Seek Review of Proposed 30% Capital Gains Tax to 25%

    Capital Market Operators Seek Review of Proposed 30% Capital Gains Tax to 25%

    •Mukuru: New law lacks equity, will put enormous pressure on NGX, increase cost of Nigerian equities

    •Investors’ return on stock market rise to N27.82 trillion in nine months

    James Emejo in Abuja and Kayode Tokede in Lagos

    Operators in the Nigerian capital market have urged Chairman of Presidential Committee on Fiscal Policy and Tax Reforms (FPTR), Mr. Taiwo Oyedele, to reconsider the proposed introduction of a 30 per cent tax on capital gains from the disposal of shares.

    In an open letter to Oyedele, which was dated October 2, 2025, the operators said the rate, expected to take effect from January 2026, will “put a lot of pressure on the NGX until the end of the year, as domestic and foreign institutional investors look to realise gains under the current tax regime”.

    However, the average investors’ return on the stock market section of the Nigerian Exchange Limited (NGX) appreciated to N27.82 trillion, driven by the federal government’s foreign exchange reforms, among others, that boosted confidence.

    Measuring the performance by market capitalisation, it was revealed that the stock market opened for trading in 2025 at N62.763 trillion, gained 44.3per cent or N27.82 trillion to close September 30, 2025 at N90.581 trillion.

    In September 2025, the market capitalisation added 2.04 per cent or N1.81 trillion, from N88.769 trillion, it closed for trading in August 2025 from N90.581 trillion.

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    “We say this because: It provides retail investors with a N150 million (cUSD101k) annual exemption threshold, which is expected to cover 99.9 per cent of all domestic retail investors. It also provides PFAs and potentially other large sources of domestic liquidity with an exemption.

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    The EFC chief executive said the proposed CGT could be reduced to 25 per cent when proceeds from share sales were reinvested in fixed income securities or other non-equity assets, adding that while the lower rate is appreciated, “how is this fair for funds that can only invest in equities?”

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    The correspondence further stated that there was no consideration for foreign investors, who will now have to price in the CGT on top of their FX risk.

    It stated, “Does the FPTR not recognise that this will increase the cost of equity for Nigerian equities. A higher cost of equity means that Nigerian businesses will have to make higher sustainable returns to attract foreign capital.

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    Mukuru said, “While temporary, it should be noted that bringing back this capital will be challenging and this is clearly not in the long-term interest of the NGX and its companies, that drive growth, jobs, and long-term economic development for Nigeria.”

    Meanwhile, the NGX All-Share Index (NGX ASI) closed nine months of 2025 at 142,710.48 basis points, about 38.65 per cent or 39,784.08 basis points from 102,926.40 basis points the stock market had closed for trading in 2024.

    Analysts attributed the stock market 38.65 per cent investors average return to stability in the foreign exchange market, companies recovering from foreign exchange losses, market liquidity, capital inflow, dominance of domestic investors, increasing portfolio investment, banking sector recapitalisation by Central Bank of Nigeria (CBN), and insurance sector reforms, which had played a critical role in overall stock market performance in the period under review.

    So far in 2025, the stock market had seen Monetary Policy Committee of the CBN reducing Monetary Policy Rate to 27 per cent, marking the first cut since the COVID-19 pandemic in 2020; inflation rate moving to 20.12 per cent, as of August 2025; companies announcing impressive corporate earnings and half year ended 2025 interim dividend pay-out to shareholders; listing by introduction of Legend Internet Plc; and listed banks announcing the outcome of fresh capital raising on the exchange.

    Equally, the yield on Nigerian Treasury Bills (NTB) dropped to 15 per cent, as of September 17, 2025, from 18 per cent.

    In the nine months under review, several stocks listed on the NGX recorded strong month-to-date appreciation, reflecting heightened foreign investor confidence driven by improved macroeconomic indicators and robust corporate earnings.

    Capital market analysts stated that the corporate earnings report of H1 2025, among other factors, encouraged investors seeking high returns in a volatile macro environment.

    Managing Director, Globalview Capital Limited, Mr. Aruna Kebira, in a chat with THISDAY, said the stock market in the nine months of 2025 witnessed the tanking of inflation figures and CBN cutting interest rate to 27 per cent, from 27.50 per cent.

    Kebira stated, “Those parameters alone gave the capital market investors a moment of respite in the nine months of 2025.

    “The yields in the money market are not looking as attractive as they were in 2024, making discerning investors in search of better yields to consider the capital market as their investment destination.”

    He also stated, “In the last MPC, the MPR was reduced, including other metrics. This is sending positive signals that as the inflation figure and money market yields are downward looking, the MPC would have a reason to tinker the MPR further downward. Which is not always fixed income friendly.

    “If the various issuers demonstrate a performance higher than the corresponding period of 2024 and declare an impressive interim dividend, the stock market will move to appreciate their prices.”

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    •Mukuru: New law lacks equity, will put enormous pressure on NGX, increase cost of Nigerian equities •Investors’ return on stock market rise to N27.82 trillion in nine months James Emejo

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