Nigerian stocks dropped to a
three-month low, after President Muhammadu Buhari officially announced he would
seek re-election in 2019.
Reuters reports that the stock
market, which opened on a losing streak after Lafarge Africa announced a
surprise 2017 loss, worsened its decline.
The equity market fell near
40,000 points.
This came as Buhari declared at
the National Executive Committee (NEC) meeting of the All Progressives
Congress, that he will contest in next year’s election.
The news has drawn mixed
reactions from Nigerians, as some expressed gladness, while others criticized
the president for making such decision despite challenges facing the country.
Buhari defeated Goodluck Jonathan
in 2015 to become president, after previously failing to win in three
consecutive polls.
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