Nigeria’s financial markets under strain after US threats

Nigeria’s Stock exchange has suffered sharp losses and markets are on edge after US President Donald Trump’s threats of sanctions, reports Africanews on November 20th.

Trump has been accusing Nigeria of persecuting Christian minorities. There were also reports that the US was “preparing for action” in Nigeria.

Nigeria has an important trade relationship with the US and is particularly reliant on crude oil exports, as well as minerals and agriculture. There are fears that any sanctions would impact the economy significantly.

Africanews, Maghrebi.org