*Report indicates that the Nigerian benchmark stock index is the best performer globally in 2020

Isola Moses | ConsumerConnect

Nigerian benchmark stock index rose 1.9 percent at close Thursday, December 31, 2020, moving the year-to-date gain to the most in 17 years.

The Lagos bourse (Nigerian Stock Exchange) closed with 50 percent gain at 40,270.7 points, most since December 2007.

The equity index is the world leader among the 93 stock indexes tracked by Bloomberg.

Nigeria benchmark stock index is the best performer globally in the past year.

Some of the companies that posted the most positive return for the year include Equity Assurance Plc at 400%, Neimeth International Pharmaceuticals 260% and FTN Cocoa Processors, which climbed 230%.

Dangote Cement’s share buy-back, which commenced Wednesday and ended Thursday, boosted market performance, adding to the positive trading close for the year, United Capital said in a note to clients.