In this study, a comprehensive analysis was undertaken
to examine the impact of political activities in Nigeria,
particularly primary elections (for the APC and PDP
parties) and the General Election, on various economic
indicators and financial markets. Comparative research
design was used to investigate the effects of the parties’
primary and general elections in 2023 on different
economic indicators in Nigeria, namely inter-bank rates,
exchange rates, all share index, and crude oil price.
Data gathered for 30 days prior and 30 days subsequent
to the party primaries and 2023 general election were
evaluated for potential alterations or disparities that
arose as a consequence of the election. The collective
findings underscore the interplay between political
events, economic indicators, and financial markets.
They support the notion that political events, particularly
elections, have strong synergies on economic and
financial variables. The consistent pattern of significant
differences in interbank rates, All-Share Index, crude oil
prices, and exchange rates between pre-election and
post-election periods suggests that investors and market
participants are attuned to the potential economic and
policy implications of political transitions. These findings
have practical implications for stakeholders in Nigeria's
financial and economic landscape, including
policymakers, investors, and analysts. Understanding the
dynamics between politics and economic indicators
can inform investment decisions, risk management
strategies, and policy planning.