Buhari Bounce Becomes Bust as Nigeria Policies Irk Investors

Updated on
  • Growth rate set to slow to 16-year low of 3.3% as oil falls
  • Naira policy is biggest concern, Citigroup analyst Howell says

Nigerian President Mohammadu Buhari.

Photographer: Pius Utomi Ekpei/AFP via Getty Images

When Muhammadu Buhari clinched victory in Nigeria’s presidential elections in March, stocks soared as investors looked to the former military ruler to reverse decades of economic mismanagement and policy inertia. Now hopes have fizzled in his ability to turn around Africa’s largest economy and oil producer.

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