The Nigerian economy is already showing signs of what to come following President Buhari’s announcement on Monday that he will seek re-election in 2019.

On Monday, the Nigerian stocks dropped to a three-month low immediately after President Buhari said he would seek re-election in 2019.

Of course, his announcement ended months of speculation about his future after bouts of ill health, but it also worsened the stock market loss, which opened on a losing streak.

After the news of his re-election bid, the equity market fell near 40,000 points.

Also Read: Buhari Reveals Why He Is Seeking Re-election

President Buhari’s re-election plan was an open secret.

According to a statement by his Senior Special Assistant on Media and Publicity, Garba Shehu, the President announced his re-election at a closed-door meeting of the National Executive Council of the ruling All Progressives Congress, held at the party’s headquarters in Abuja.

The statement quoted President Buhari as saying that he was responding to the clamour by Nigerians to re-contest in 2019, adding that he wanted to give NEC the honour of notifying them first.

This is a developing story. More details soon....

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