Foreign investors have expressed disappointment in President Muhammadu Buhari’s handling of Nigeria’s economy since he assumed office in 2015.
Jan Dehn, head of research at Ashmore Group Plc, which oversees almost $60 billion of emerging market assets, remains unconvinced that Buhari is up to the job.
“So far the Buhari administration has done all the wrong things,” Dehn said.
“Not only has he been incredibly slow in taking any action, when he finally has taken action on the economic front it’s been diametrically opposed to sensible policy. That is a major disappointment given expectations prior to his election,” he added.
The fund manager sold all its Nigerian government debt in the past year.