Nigeria’s stock market may rally if President Muhammadu Buhari loses this weekend’s election, according to analysts at Citigroup.
The reported posted on Bloomberg noted that the nation’s stock market will recover, ending a run that’s seen it fall more than any other in the world in dollar terms since Buhari came to office in May 2015.
According to the report, some foreign investors would prefer a government led by ex-Vice President and Peoples Democratic Party (PDP) presidential candidate, Alhaji Atiku Abubakar.
But while Atiku has pledged to privatize state assets and float the naira, many are skeptical and point to his reputation for alleged corruption.
Recall that the Financial Times of London recently indicated that President Muhammadu Buhari is battling perception of frailty as Nigeria prepares for the 2019 general elections.
The London-based international newspaper in an article published on its website on Saturday, February 9, says there are concerns if Buhari is physically or mentally up to running Nigeria for another four years.
The newspaper also made reference to the president’s campaign trail memory lapses and a near fall, which has gone viral on social media in the last few weeks.
The Financial Times article was published days after another British media outfit, the BBC, described Atiku as Nigeria’s political operator with the Midas touch.
There have been rumours that Atiku has gotten the backing of western countries in his quest to be Nigeria’s leader.
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