Nigerians began voting on Saturday in one of the closest elections since the West African nation’s return to democracy two decades ago.
(Bloomberg) — Nigerians began voting on Saturday in one of the closest elections since the West African nation’s return to democracy two decades ago.
More than 175,000 polling stations were scheduled to open at 8:30 a.m. local time, with 87.2 million people who registered to vote eligible to cast their ballots. The polls are scheduled to close at 2:30 p.m., though the electoral commission has said it will allow anyone who’s already in the queues at that time to vote.
While there are 18 candidates vieing to succeed President Muhammadu Buhari the race will come down to three of the contenders — Bola Ahmed Tinubu of the ruling All Progressives Congress, Atiku Abubakar of the Peoples Democratic Party and outsider candidate Peter Obi of the Labour Party.
Candidate Who Led Polls May Come Up Short (Feb. 25, 6:33 a.m.)
Nearly every opinion poll before Saturday’s presidential election in Nigeria put Obi far out in front — making him the first third-party candidate with a real shot at the top job in Africa’s biggest democracy.
The two major parties scoff, as do many observers. Despite the former Anambra state governor’s passionate young following — known as “Obidients” — Nigeria’s complex electoral math and the sheer cost of mounting a credible national campaign means he may come up short.
To win in the first round, a candidate needs to secure a simple majority of all votes cast and at least a quarter of the votes in two-thirds of Nigeria’s 36 states and the capital, Abuja. The problem for Obi is that his support is concentrated in the south, which has far lower turnout than the more populous north.
Naira Scarcity Adds to Inflation Pain (Feb. 24, 6:43 p.m.)
Heineken NV’s Nigerian unit said a shortage of naira banknotes has worsened a lack of demand by consumers after inflation curbed purchasing power.
The situation has been compounded in the past two months by increased security concerns before Saturday’s presidential elections.
“Nigeria business environment remains very turbulent,” Hans Essaadi, chief executive officer of Nigerian Breweries Plc, said on an investor call on Friday. “The naira scarcity has aggravated things.”
Land Borders Closed Before Election (Feb. 24, 11:51 p.m.)
Nigeria’s government ordered the closing of the nation’s land borders ahead of the election.
The borders were to be shut for 24 hours from midnight on Saturday, the Nigerian Immigration Service said in an emailed statement. The tradition of closing borders dates back to the return of democracy in 1999 and is aimed at preventing non-Nigerians from crossing through the country’s porous borders to vote.
Port Expansion (Feb. 23, 7:48 p.m.)
As Nigeria faces dwindling foreign direct investment, the a new Lekki Deep Seaport could offer a boost to West Africa’s trade volume.
Nigerian Ruling Party Confident of Victory (Feb. 22, 6:41 p.m.)
The presidential candidate of Nigeria’s ruling party is on course for a decisive victory in the election despite opinion polls indicating that it will be a tough race, according to a senior member of his campaign.
The All Progressives Congress expects nothing less than “a comfortable win” for Bola Tinubu, the former governor of Lagos state who is vying to become the next head of state of Africa’s largest economy, said Babatunde Fashola, the party’s head of election planning.
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