Nigerian Stocks Drop After Buhari Declares Re-election Bid

Muhammadu Buhari

Stocks in the Nigerian market dropped on Monday to an all-time low since three months as President Muhammadu Buhari announced his re-election bid.

Buhari had on Monday told the National Executive Council (NEC) of the ruling All Progressives Congress (APC), drawing mixed reactions from Nigerians.

The stock market had opened on a losing note as Lafarge Africa announced a 2017 loss, worsening the situation.

Also, equity market went down near 40,000 points.

Recall that the market had in 2015 reacted negatively after Buhari was sworn-in with the country later experiencing recession.

Nigeria would hold its General Election in 2019, with Buhari seeking to finish off his second tenure as president of the most populated black nation in the world.






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