Templeton’s Mobius says good time to invest in Nigerian stocks

LONDON (Reuters) – Veteran emerging markets investor, Franklin Templeton’s Mark Mobius said on Thursday that it was a good time to invest in Nigeria, which he sees as one of the most attractive frontier market destinations.

“There are significant challenges ahead, but we believe the positives outweigh the negatives and think it’s a good time to invest in Nigeria – if we are patient and selective,” Mobius, who runs the Templeton Emerging Markets Trust said in a statement.

“We are particularly interested in opportunities outside the energy sector in consumer products as well in financial services.

“Nigerian presidential elections at the end of March brought to power former military strongman Muhammadu Buhari, in what was the first democratic defeat of an incumbent in Africa’s biggest economy.