By Ian Hargreaves King & Wood Mallesons’ London Offcie
A sea change in Nigeria’s political and economic history took place on 28 March 2015. What was widely expected to be a tense and possibly violent election proved to be a peaceful democratic handover with General Muhammadu Buhari becoming the first Nigerian to unseat a sitting President at the ballot box.
The euphoria that followed found its way to the markets almost immediately. Shortly after President Goodluck Jonathan’s concession, the Nigerian stock market recorded an unprecedented rally on gaining NGN 904 billion, as investors reacted positively to the peaceful conclusion of the elections.
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