Imagine taking a leap with N100,000 by entrusting it to an investment vehicle as of January 1, 2024. Fast forward to December 30, what does that initial investment look like now? What lessons do these figures reflect?
In this piece, BusinessDay breaks down the numbers, highlighting the performance of the N100,000 investment as well as the factors that have influenced the performance over the past year.
1. US Dollar – N170,132
At the start of 2024, N100,000 was equivalent to approximately $110, based on the official exchange rate of N907.11/$ as of the close of 2023. With the Naira depreciating by about 41 percent since then to trade at N1543.29 on December 30, 2024, the N100,000 kept in USD would be worth about N170,132.
2. Dangote Cement – N149,700
A N100,000 investment in Dangote Cement stocks at the start of 2024 would be worth about N149,700 as at December 30. This translates into a 49.7 percent year-to-date achieved by the stock during the period under consideration.
2024 has been a whirlwind year for Dangote Cement stock. It took off with a bang in January, surging by an impressive 139 percent to reach a record high of N763. However, after hitting that peak, investors started cashing out, triggering a steady slide that brought the stock down to its current price of N478.8 by October.
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3. Bitcoin – N379,587
At the start of the year, N100,000 could buy approximately 0.0026 BTC when Bitcoin was priced at $42,280. Fast forward to December 30, with Bitcoin now selling at $94,332, that same 0.0019 BTC is worth about $246. Using the current exchange rate of N1,543.29/$, the N100,000 investment has grown to an impressive N379,587.
Bitcoin had an impressive run in 2024, steadily climbing past the $60,000 mark and settling around $68,000 in the lead-up to the U.S. elections. Following Donald Trump’s declared victory, the cryptocurrency took off, jumping from $67,811 on election day to break the $100,000 milestone by December 9.
4. MTN Nigeria – N78,712
An investment of N100,000 in MTN Nigeria shares at the beginning of 2024 has dropped to approximately N78,712, reflecting a year-to-date decline of 21.3 percent. Given a string of losses that were tied to the depreciation of the Naira, MTN has been in a precarious financial position in 2024, making investors wary.
MTN Nigeria stock kicked off 2024 on a high, riding the NGX’s bullish momentum to reach a record-breaking N293.12 per share. However, the excitement fizzled after the company’s 2023 audited results revealed a pre-tax loss of N127 billion. Investors began pulling out, pushing the stock below its public offer price of N169 at some point during the year.
5. GTCO Holdings – N140,700
With a 40.7 percent year-to-date gain as of December 30, 2024, a N100,000 investment in GTCO Holdings at the start of the year would translate to a return of N140,700. While the stock initially faced headwinds following reactions to the CBN’s recapitalization mandate, it has rebounded strongly, reaching a new high of N58.75 shortly before Christmas.
GTCO Holdings closed December 30, with a share price of N57.00.
6. Ethereum – N253,430
At the beginning of 2024, N100,000 could purchase 0.0483 ETH. With Ethereum appreciating by 49 percent year-to-date, that investment is now worth $164. At the current exchange rate of N1,543.29/$, the N100,000 has grown to N253,430.
7. Vanguard S&P 500 ETF – N214,903
The Vanguard S&P 500 ETF, a leading fund tracking the S&P 500 index, traded at $430 at the start of 2024, with a N100,000 investment securing approximately 0.26 units. Over the year, the ETF has appreciated by 26 percent, reaching $543.13 as of December. Accounting for the ETF’s value increase and the Naira’s devaluation, the N100,000 investment now stands at approximately N214,903.
