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What Investors should Expect from Nigeria economy in H2 2020

Nigerian Economy Given the negative impact of COVID-19 on the world economy, the Nigerian economy is expected to slide into recession in the second half of the year; in line with IMF’s forecast – it predicted a negative growth rate of 5.4% in 2020. Specifically, depreciation...

Nigeria’s GDP Slows as Growth in Non-Oil Sector Slides by 16.29% in Q1 2020

In Q1 2020, Nigeria’s GDP grew BY 1.87%, slower than 2.55% in Q4 2019 (and 2.01% in Q1 2019). Growth was driven by positive, albeit slower, growth in oil & gas and non-oil sectors by 5.06% and 1.55% from 6.36% and 2.26% respectively. Exhibit M1...

Consumer Digital Commerce Spend to Fall by 14% in 2020, as Industry is Rocked by Coronavirus Impact

A new study from Juniper Research found that global spending on digital commerce will fall by 14% in 2020 as lockdowns and reductions in consumer spending are felt. Spending will fall from $11.2 trillion in 2019 to $9.7 trillion. The new research, Digital Commerce Coronavirus...

Great Lockdown Necessitates Further Downgrade to GDP

In our first assessment of the impact of Covid-19 on economic growth we had assumed that the pandemic will be contained without risk of government implementing measures that will severely restrict economic activity for a sustained period of time (at the time, reported cases...

Unilever Nigeria Q4 2019 Results Review: Losing Grip on the Market

Material cuts to forecast earnings Unilever Nigeria's (Unilever) FY 2019 pretax loss of -N9.8 was far behind our PBT forecast of N295m, following a grossly disappointing Q4. We have therefore made deep cuts to our earnings forecasts. As such, our new target price of N11.9...

CBN Alerts the Public on COVID-19 Cyber-attacks, Fraud

The Central Bank of Nigeria (CBN) wishes to alert the general public that cyber-criminals are taking advantage of the current "COVID-19" pandemic to defraud citizens, steal sensitive information, or gain unauthorized access to computers or mobile devices using various techniques. Proshare Nigeria Pvt. Ltd. This trend...

Of Swans and Free Markets Capitalism – Lessons for Nigeria

By Dr. Temitope Oshikoya Recent global events appear to expose the limits of the market intelligence economists. They espouse free markets and no government interventions in the markets and the economy. They seem to take economic orthodoxy as an extreme ideology on the same plane as...

Fitch’s Negative Outlook on UBA Subsidiaries Linked to Parent Action

Banks in Nigeria have started to scale back their operating expenses as they begin to "right-size" their staffing needs to remain competitive and protect business margins. A clear example of the emerging shift in industry strategy occurred in January 2020 when the United Bank of...

COVID-19: Recommended Investment Strategy over Global Pandemic effects on Nigeria’s Economy

Nigerian Economy and the Threat of Corona virus, Fall in Oil Price Nigeria’s economy, which grew by 2.77% in 2019 (higher than 1.91% in 2018) is currently in dire straits as a result of global COVID-19 (coronavirus) pandemic. The situation has created global uncertainty and...

SMEs must reinvent to remain competitive – Heritage Bank CEO, Sekibo

Business Managing Director/Chief Executive, Heritage Bank Limited, Mr. Ifie Sekibo has advised Small and Medium Enterprises (SMEs) to reinvent themselves in order to remain competitive and overcome the challenges of the COVID-19 pandemic. Speaking on “Converting ideas into reality with focus on SME’s”, Sekibo also stressed...
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