Yet investors are shunning the opportunity, wary of a mix of domestic and external threats, according to Bloomberg.
According to the report, pension fund managers aren’t favouring the market either: just 4.9 per cent of N10.8tn in retirement savings assets is invested in domestic equities, compared with 5.7 per cent in January and an average permitted ceiling of 15 per cent, according to pensions commission data.
Locals are avoiding the market given the poor outlook for the economy because of the COVID-19 pandemic and the effect of lower oil prices on the country.
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