No sooner did President Muhammadu Buhari declare his intention to seek reelection than Nigerian stocks dipped to a three-month low on Monday.
The stock market, which opened on a losing streak after Lafarge Africa announced a surprise 2017 loss, worsened its decline.
The equity market fell near 40,000 points.
Buhari said on Monday that he would seek re-election in 2019, ending months of speculation about his future after bouts of ill health.
The president communicated his intention to the meeting of All Progressive Congress (APC) National Executive Council (NEC).