President's Death: Core Views Intact

Following the death of President Umaru Yar'Adua on May 5, we highlight our core views on Nigeria. There are no immediate policy implications, since (new president) Goodluck Jonathan has been running the country for several months already. The nomination for the new vice president will be crucial, with the chosen candidate likely to become the next president in 2011 and subsequently step down in 2015. However, we cannot rule out Goodluck Jonathan running for the presidency. The impact of Yar'Adua's death on financial markets will be negligible; we remain bearish local government bonds and bullish equities.

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