Nigeria’s ETF correction deepens as STANBICETF30, VETGRIF30 see 50% decline in a week

The speculative fever that gripped the Nigerian ETF market has broken, leaving double-digit losses for retail investors. As of Friday, the Stanbic IBTC ETF 30 has seen its price slashed to N3,313.18, a 52 percent wipeout from its N7,003 peak reached just nine days ago.

“ Nigerian ETFs are currently responding to the law of gravity: what goes up must surely come down. Let’s see how deep the correction will be. Still trading at a significant premium to their NAV,” Ayodeji Ebo, MD Optimus by Afrinvest, said.

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