“So far the Buhari administration has done all the wrong things,”
Dehn said by phone from London ... Not only has he been incredibly slow in taking any action, when
he finally has taken action on the economic front it’s been diametrically
opposed to sensible policy. That is a major disappointment given expectations
prior to his election.”
--------------------
Money that flowed into stocks and bonds in the West African
nation, which McKinsey & Co. says could become one of the world’s 20
biggest economies by 2030, is now fleeing as growth prospects diminish along
with oil prices. While Buhari, 72, has prioritized stamping out the graft that
has plagued Nigeria since
independence from Britain
in 1960, policy-making appears as uncertain and haphazard as ever.
“After the initial euphoria, people have become disillusioned,”
Ayodele Salami, who oversees about $500 million of African equities as chief
investment officer of London-based Duet Asset Management Ltd., said by phone.
“He would probably say that he’s being deliberative and cautious. But we
expected more.” Duet’s Africa fund has cut its
investments in the country to about 24 percent of the total from 38 percent in
the last year.