The Nigerian economy has been a subject of four downgrades to its growth projections and economic outlook in the last four months. One was by the IMF reducing the GDP growth forecast to 2% while the others were by the rating agencies lowering the country’s economic outlook from stable to negative.
As if that was not bad enough, enter Covid-19 with an infected Italian arriving in Lagos. Nigeria needed this infection as much as a bullet in the head. Oil prices plummeted and the travel industry went into a free fall.
The resilience of the Nigerian economy remains intact with Q4 GDP growth at a 3-year high of 2.55%. The Naira has remained relatively stable in the forex market.
In this period of market uncertainty and policy imponderables, the FDC Think Tank attempts to decipher these unknowns to enable you to review your strategy and implementation in 2020. In the link below, these issues are comprehensively discussed by Bismarck Rewane in this month’s edition of the LBS Breakfast Session.
Download the “COVID-19: When It Rains, It Pours – LBS Executive Breakfast Session (March 2020)” full report here