Yields Rush to Rescue of One of World’s Worst Stock Markets
- Nigerian share dividends offer opportunity, Tundra Fonder says
- Projected yield on Lagos stocks triple the MSCI global index
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Nigerian stocks may be among this year’s worst performers, but that’s at least boosting the appeal of their yields.
The benchmark index in Africa’s biggest oil producer has fallen 14% this year, making it the fourth-worst among 94 major bourses tracked by Bloomberg. The slump underscores foreign investors’ frustration over a lack of policy progress since President Muhammadu Buhari won re-election in February.