Foreign
investors fleeing Nigeria as oil prices plunge are leaving stocks undervalued
in Africa’s biggest economy, the bourse’s chief executive officer, Mr. Oscar
Onyema has said.
The
benchmark index’s 18 per cent decline this year isn’t justified by economic
changes and as a result Nigerian equities are “effectively on sale,” Oscar
Onyema said in an interview with Bloomberg in Diani, Kenya.
“The
fundamentals demand higher valuations.”
Nigerian
stocks dropped as crude slid into a
