Nigeria’s stock market drops to 3-month low after President Buhari declared his intention to seek re-election-Reuters

Nigerian stocks dropped to a three-month low after President Buhari declared his intention to seek re-election in 2019, Reuters reports.

The stock market, which opened on a losing streak after Lafarge Africa announced a surprise 2017 loss, worsened its decline. The equity market fell near 40,000 points yesterday.

President Buhari at the APC National Executive Committee meeting in Abuja, officially announced his intention to run for a second term. Mixed reactions have trailed his declaration. While some Nigerians are happy he is coming back to office, some Nigerians have expressed anger and dissappointment about the news.