• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Business News

Markets tank as President Buhari announces intention to run for a second term

Onome Ohwovoriole by Onome Ohwovoriole
April 9, 2018
in Business News, Politics, Spotlight
Share on FacebookShare on TwitterShare on Linkedin

Perhaps in response to President Muhammadu Buhari declaring his intentions to run for a second term, Nigeria’s financial markets all reacted negatively.

The Nigerian Stock Exchange (NSE) All-Share Index closed at 40, 429.18 basis points, down 1.01%.  Year to date gains have since dropped to 5.72%.

Bashir Ahmad, Special Assistant to the President on New Media, broke the news on his twitter handle.

RelatedStories

NGX

Nigerian Stocks post solid gains as January ends in green 

February 2, 2025
NGX

Eight Nigerian stocks soar to triple-digit YtD gains as of August 2024 

September 3, 2024

BREAKING: President Muhammadu Buhari has just officially announced his intention to seek re-election in 2019. Details soon…

— Bashir Ahmad (@BashirAhmaad) April 9, 2018

Possible Market reaction?

Nairametrics Founder, @Ugodre tweeted a snapshot of the market chart at the end of trading on Monday.

Looks like Market tanked just after Buhari announced he will run for a second term. 😳😳 pic.twitter.com/tuKcY8q7YC

— Ugodre (@ugodre) April 9, 2018

 

Yields rose marginally on long-dated bonds, while they dropped on treasury bills. Investors usually pile into bonds during times of uncertainty.

The down markets may not necessarily be a reflection of negative sentiments to the President’s candidature but the heightened uncertainty. The President’s declaration in some ways would be the unofficial start of the campaign period. Governance could also take a back seat.  The National Assembly is yet to pass the 2018 budget into law.

Approaching elections could also increase socio-political tensions in the Niger Delta which has been largely peaceful.

In the coming days

Investors should pay closer attention to the Investors and exporters window. Heavy traffic there could indicate foreign investors are taking their leave from the country.  This could precipitate pressure on the foreign exchange rate.


Follow us for Breaking News and Market Intelligence.
Tags: Nigerian StocksOn the MoneyPresident Muhammadu BuhariSecond term
Onome Ohwovoriole

Onome Ohwovoriole

Onome Ohwovoriole has a degree in Economics and Statistics from the University of Benin and prior to joining Nairametrics in December 2016 as Lead Analyst had stints in Publishing, Automobile Services, Entertainment and Leadership Training. He covers companies in the Nigerian corporate space, especially those listed on the Nigerian Stock Exchange (NSE). He also has a keen interest in new frontiers like Cryptocurrencies and Fintech. In his spare time, he loves to read books on finance, fiction as well as keep up with happenings in the world of international diplomacy. You can contact him via onome.ohwovoriole@nairametrics.com

Related Posts

NGX
Equities

Nigerian Stocks post solid gains as January ends in green 

February 2, 2025
NGX
Equities

Eight Nigerian stocks soar to triple-digit YtD gains as of August 2024 

September 3, 2024
Nigerian Stock Exchange
Markets

Nigerian Stocks lose N334 billion in market cap as bears takeover July 

July 15, 2024
NGX
Equities

Nigerian stocks you can invest in H2’2024 – Investment analysts  

July 3, 2024
NGX
Dividends

Nigerian Stocks with the best dividend yield 2024

July 1, 2024
Major bills signed into law by Presidents Buhari and Tinubu in 2023 
Economy

Major bills signed into law by Presidents Buhari and Tinubu in 2023 

December 31, 2023
Next Post
These are the Six top Mobile Banking Apps in Nigeria today

Ecobank says its app has crossed $1 billion in processed transactions

Comments 2

  1. Vicky says:
    April 11, 2018 at 1:12 am

    This is one reason I hate Nairametrics, you guys just write useless headline or news. This is journalism at it’s worst. What is the meaning of “The market tanked because President Buhari announced his intentions to run for second term”. Was it the President that made Lafarge declare a horrible result where its preys declared fantastic results. What was your headline when the Nigerian stock market was celebrated earlier this year, I bet you won’t have given him credit.

    Abeg you guys can do better.

    Reply
    • Toju Daniels says:
      April 11, 2018 at 1:56 pm

      Your point doesn’t take away the fact that the market tanked +/- 2 hours after PMBs announcement.

      Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank








DUNS

Recent News

  • Pump.fun raises $600 million in 12 minutes as memecoin craze heats up again 
  • 10 Lagos hospitals delivering advanced surgeries and challenging outbound medical tourism 
  • Geregu Power reports N13 billion Q2 2025 profit, up 61% YoY, beats Q2 forecast 

Follow us on social media:

Recent News

Pump.fun raises $600 million in 12 minutes as memecoin craze heats up again 

Pump.fun raises $600 million in 12 minutes as memecoin craze heats up again 

July 13, 2025
10 Lagos hospitals delivering advanced surgeries and challenging outbound medical tourism 

10 Lagos hospitals delivering advanced surgeries and challenging outbound medical tourism 

July 12, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics