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By Tope Alake Nigeria’s series of economic policy missteps in recent weeks highlighted some of the uncertainties investors face in buying into its high-yielding assets and Analysts Concern that Africa’s biggest economy is missing an opportunity created by rising oil prices to attract much-needed foreign currency. First, the country allowed fuel subsidies that have been a drain on state coffers in the past to creep back by allowing pump prices to stay low as the price of crude rose. Then the central bank devalued the naira, without providing any guidance on its currency-policy goals. And ...

Nigeria Wastes Oil Rally as Policy Muddle Deters Investors Bloomberg 3/10/2021 Tope Alake (Bloomberg) -- Nigeria isn’t making it easier for foreign investors to buy into its high-yielding assets. A series of policy missteps in recent weeks highlighted some of the uncertainties investors face, and raised concerns that Africa’s biggest economy is missing an opportunity created by rising oil prices to attract much-needed foreign currency. First, the country allowed fuel subsidies that have been a drain on state coffers in the past to creep back by allowing pump prices to st...

Nigeria Wastes Oil Rally as Policy Muddle Deters Investors Bloomberg 3/10/2021 Tope Alake (Bloomberg) -- Nigeria isn’t making it easier for foreign investors to buy into its high-yielding assets. A series of policy missteps in recent weeks highlighted some of the uncertainties investors face, and raised concerns that Africa’s biggest economy is missing an opportunity created by rising oil prices to attract much-needed foreign currency. First, the country allowed fuel subsidies that have been a drain on state coffers in the past to creep back by allowing pump prices to st...