One Year Into Tinubu’s Tenure, Investors Want More From Nigeria
- Investors deterred by forex volatility, repatriation risks
- Consistency in reforms key to winning investors back
One year after President Bola Tinubu came to office, investor excitement over his reforms has faded, with some saying they’ll reconsider their positions if Nigeria stabilizes its currency and enacts more change.
“We are likely to add to local currency bonds once FX volatility declines, but the timing of that remains up in the air,” said Kevin Daly, a portfolio manager at London-based Abrdn Investments Ltd. “It will require a combination of factors such as further foreign portfolio flows, and more importantly some de-dollarization
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