NGE - NGE- Key Considerations For Prospective Investors

• Nigeria's restrictive FX policies, unhealthy dependence on oil exports, and unremarkable FDI flows make the Naira vulnerable.
• Dangote Cement has benefitted from convalescing infrastructure rebound across Africa but its long-held pricing power could be at risk.
• Nigerian banks have coped relatively well since the pandemic but could face elevated credit risks once the regulatory forbearance expires.
• NGE’s valuations are dirt-cheap and it does look oversold relative to other African equities.

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