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Bet on Nigerian recovery draws investors seeking to dodge trade wars - FT

MARCH 19, 2025

Africa’s most populous country among former crisis-hit economies attracting foreign inflows


BY   in Lagos and in London


Foreign investors have flocked to Nigeria’s markets in recent months, as the threat of a US trade war with larger developing economies has sent portfolio managers looking for cover in former crisis-hit frontier markets now on the rebound.

The Nigerian naira is among the world’s top-performing currencies since November’s US election with a rise of more than 7 per cent against the dollar, as a turnaround in the continent’s most populous nation — and the lure of yields of 20 per cent to 25 per cent — trigger a rally in the local bond market following a massive devaluation. https://www.ft.com/content/5b5...

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