Nigeria’s Frontier Allure Dulled by Oil Price, Boko Haram
This article is for subscribers only.
Plummeting oil prices, increasing Islamist militant attacks and rising political tensions before a general election in February are diminishing Nigeria’s status as a prime frontier-market investment destination.
Seven months since the government rebased its economy to claim it was Africa’s largest, at about $523 billion, the central bank has devalued its currency and pushed the benchmark interest rate to a record 13 percent.