Trump's Threat Triggers Sharp Stock Decline in Nigeria
The Nigerian stock market experienced its steepest decline in November, dropping 1.19% due to profit-taking by investors following President Trump's threat to enter Nigeria to combat alleged terrorism. This led to a decrease in stock value by N1.3 trillion, extending losses over three days to N2.1 trillion.
The market's return for the year decreased by 46.52%, with fears of Trump's threat raising the risk premium on Nigerian assets. The Central Bank of Nigeria reported a slight increase in demand for dollars, causing the Naira to weaken against the dollar.
Plus234Feed summary based on reporting from Business Day. Read the original report below.
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