Nigeria's reform attracts investors, asset prices rebound by 200% with strong momentum.

With increasing confidence in President Buhari's economic agenda, Nigeria's stocks, bonds, and currency assets are experiencing a comprehensive rebound. Among the 92 global indices tracked by Bloomberg, the country's benchmark stock index has risen by 66% in US dollars this year, second only to South Korea's composite stock price index. This brings the index's gains over the past 12 months close to 200%. The performance of local government bonds is better than most emerging market peers, and the Naira is the second best performing currency in Africa, after the Zambian Kwacha. Investors are returning to Nigeria's capital markets, with foreign funds beginning to buy Nigerian stocks, and the country's market receiving a boost after being reclassified as a frontier market.