Then on Monday, NGE closed slightly lower after Islamist extremists reportedly attacked a school killing 11, including seven students. That news came after President Goodluck Jonathan admitted late last month that extremists control some Nigerian towns following attacks that left more than 20 Nigerians dead.
Moreover, these are not Nigeria’s first bouts with violence. Some of the world’s largest oil companies, including Royal Dutch Shell (NYSE: RDS-A), have complained about rebel attacks on oil assets and kidnappings of employees. The country is neither politically stable nor bereft of corruption. None of this means NGE is bad ETF, but Nigeria is equal parts potential profit and potential peril. Expect NGE to go along for the ride…good or bad.
Global X Nigeria Index ETF
ETF Trends editorial team contributed to this report.