By AFPMore by this AuthorLAGOS,Nigerians who were surprised when the country's presidential election was postponed Saturday might suffer a second shock when they learn the cost, some economists and business leaders say. "The cost to the economy of the postponement of the election is horrendous," said Muda Yusuf, general director of the Lagos Chamber of Commerce and Industry who advanced an estimate of $1.5 billion. For many, the cost of leaving cities where they work to go home and vote in their native regions is substantial. For economist Bismark Rewane however, "the most important cost ... is the reputational cost. "Investors' confidence will be eroded" and in the long term, when indirect costs were taken into account, the delay might cost the equivalent of two percentage points of national output, he said.

Source: Daily Nation February 17, 2019 13:41 UTC