A year after Nigeria’s government passed an ambitious plan to revamp its capital markets, low trading volumes, high inflation and a lack of economic policy direction have investors voicing doubts over whether stocks and bonds can power the growth of Africa’s most populous country.
After years of promising growth rates backed by high oil prices, Nigeria has entered recession in 2016, following two quarters of contraction that were driven by a slowdown in oil production, intermittent fuel shortages and a much-criticised monetary policy.
