Nigeria Stocks Extend Slump on Policy Delays, Central Bank Steps
- Foreign investors are ‘not comfortable,’ CSL analyst says
- Steps to push bank lending weighing further on sentiment
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Nigeria’s benchmark stock index fell for a fifth day, a slump that underscores foreign investor frustration over a lack of policy progress since President Muhammadu Buhari won re-election in February.
The index dropped 0.5% by Tuesday’s close to the lowest since May 2017. It has declined 13% in the five months since Buhari, who is still to announce his cabinet, was declared the winner of the national vote.