Stock market will crash in the next 15 months - Analysts
- Investors lost N1.5 trillion at stock market in 2 months

FOLLOWING the downward trend in the value of shares on the floor of the Nigerian Stock Exchange (NSE), the stock market may be heading for a big crash in a few months’ time, financial analysts have predicted.

The President of the Association of Professional Bodies of Nigeria (APBN), Mr. Bunmi Ajayi, told the Nigerian Tribune that there were danger signals in the economy, which, if not heeded, would spell doom to many.

He stated that Nigeria was ignoring the lessons of economic history and would not get away with it because what every nation needed to grow its economy was to first develop its agricultural sector and establish it well before going into industry.

Ajayi regretted that Nigeria was not doing either of these but rather it was into buying and selling, a situation that also led to the collapse of the stock sector of the United States of America sometime ago.

“We are doing a lot in developing this economy. This stock brokerage thing will crash. If we don’t learn from the crash of the American economy, we will never learn. Americans thought that they were wise. They were running from environmental pollution.

They sent all their factories to China to go and produce in China. They started playing round with money, with figures, with shareholdings and were not really producing. They were not manufacturing but spending money on money and figures on figures without solid structures,” he said.

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