In 2016, the world’s worst-performing stock market (in dollars) was Nigeria.
2017 is a very different picture for the African nation…
Having politely refused OPEC’s demands to cut crude production, Nigerian stocks have rallied for 16 successive days, a feat last accomplished in 2001…
As Bloomberg notes, the benchmark index is up almost 50 percent since early March, the best globally.
Traders are reportedly betting the economy will soon emerge from a recession and a foreign-exchange shortage will end thanks to a new currency-trading window for investors.
Or maybe the ‘dash for trash’ has gone global?
