Nigeria: Can Ex-General Buhari Boost Economy & Crush Boko Haram?

Muhammadu Buhari, Nigeria’s President-Elect

Muhammadu Buhari will bring change as the new president of Nigeria, but investors shouldn’t expect a fast economic turnaround.

Investors took the news well, however: The Global X MSCI Nigeria ETF (NGE) rose 2.4% today, while the Market Vectors Africa Index ETF (AFK) rose 0.5% and the Vanguard FTSE Emerging Markets ETF (VWO) was down slightly.

Nigeria depends on oil exports, and with the price of oil cut in half over the past year, the economy under President Goodluck Jonathan has faltered. There will be legal challenges to the election result that could take nine months in the worst case to resolve, writes Teneo Intelligence Analyst Manji Cheto.

Read more: Nigeria: Can Ex-General Buhari Boost Economy & Crush Boko Haram? – Emerging Markets Daily – Barrons.com.

Recommended