A SUPPLEMENT TO EUROMONEY/APRIL 1999: NIGERIA
A step in the right direction
In the past, for every step forward, Nigeria has taken two steps back. The difference now, say Lagos-based bankers who describe themselves as “cautious optimists”, is that the recent presidential election suggests that Nigeria is finally making some progress.
Barring any monumental upheavals, the country will on May 29 return to civilian rule for the first time since 1993. In February’s presidential election, the Peoples Democratic Party (PDP) led by the former military ruler General Olusegan Obasanjo, amassed almost 63% of the vote.
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