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Economy improving slowly but bumpy days still ahead, says expert

Increase in petrol price inevitable –Rewane

A recent review of the 2020 outlook of the Nigerian economy, detailing the prospects of key measures defining possible fiscal growth, has revealed the odds of Nigeria witnessing economic contraction.

Bismarck Rewane, CEO, Financial Derivatives Company Ltd, registered this fear in his publication titled: The Nigerian Economy and Prospect in 2020.

Drawing from the result of the 2019 economy ups and downs, the financial expert noted that the observed tendencies for the economy in 2020 to remain in a low growth cycle, was enough metric to reveal that the country might not be having a smooth ride if growth pointers are not carefully harnessed to serve the good lot of the economy.

Read also: YEAR IN REVIEW: Stumble, tumble. How Nigeria’s capital market fared in 2019 and outlook for 2020

According to Bismarck, the economy is expected to grow at 2.10% in 2020, which will be below population growth at 2.6%.

The report further revealed the odds of low investments and that might serve as constraints to growth.

He explained that the “huge infrastructural deficit” of $300 billion will continue to add to the effect of lower oil prices, in slackening growth rate. Find the detailed publication here.

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