Jonathan’s Exit Is Needed Spark To Ignite Nigeria’s Stocks Market – Bloomberg

A new Bloomberg report that features an analysis of Nigeria’s stocks market and foreign investment concludes that a loss for president Goodluck Jonathan at Saturday’s presidential polls may be necessary to stimulate the economy.

The report gives a not so encouraging overview of the present state of the market in a paragraph thus:

“Since rising to a five-year high in July, Nigeria’s benchmark stock index has plummeted 30 percent and is now only 11 percent higher than when Jonathan took office in May 2010. Stocks in South Africa and Kenya rallied 90 percent in the period, while those in Zambia and Ghana more than doubled. The naira fell to a record in February, and domestic government bond yields of almost 16 percent are the highest among 31 emerging markets monitored by Bloomberg indexes.”