 |
| Bismarck Rewane, CEO, Financial Derivatives Company Ltd |
He
posited that the economy’s data would be positive this year, but would only
make a difference if only the impact would be felt by the citizens.
Rewane,
at the West African Investment Summit, in Lagos, envisaged the nation’s trade
balance rising to a positive $9 billion this year from the $7 billion recorded
in 2017, noting that Non-Performing Loans (NPLs) are going to be on the decline
this year.
“This year, we should think of the impact of the economy and not the
economy. We are happy that some international investors were in the summit and
they are looking at Nigerian this time. Nigeria just successfully raised $25
billion dollars in addition to the previous euro bond issues.
“This means that at a time like this, 12 months from election, we
were still able to raise money at favourable rates, then that’s credit to the
federal ministry of finance for its revenue raising strategy but the important
thing now is how to apply these revenues and invest it rather than consume it,”
he said.
According
to him, the issue is how to invest them in an impactful manner that would
affect the ordinary citizens as the gap between the urban and the rural Nigeria
is becoming very clear.
“Generally speaking, the economy is beginning to limp out of
recession. It’s not fully back on the track, which means that there is work to
be done and to sustain this.
“There is need for the National Assembly to compromise quickly so
that the budget can be passed and the government can get to work and everybody
can be onboard to ensure that this economy sustains its returns. If not, it’s
going to be very difficult as urban unemployment is at 45 per cent.
“Oil revenue will hit $44 billion this year and oil price will
fluctuate between $60 and $65 per barrel. There will be money supply growth at
7.2 per cent, though government revenue will be slow but collection will
improve through the Voluntary Asset and Income Declaration Scheme (VAIDS),” he added.
The
economist posited that exchange rate would remain stable within N360 and N370
and interest rate to fall even as the nation gets close to its general
election, noting that a downside could be the loss of 10 per cent at a value in
a worst case scenario. (Guardian)
Hmmm!!! Folks, have
you ever imagined how the financial status of your firm will be when more than
20,000 CEOs and other key decision makers of blue-chip corporations pay for
your products and services or even give you very juicy deals. The link below
will tell you more: http://www.tectono-business.com/2015/07/tectono-business-review-in-conjunction_21.html
Have you heard
this? Many Nigerian exporters have been defrauded of huge amount of money in
the process of exporting commodities to foreign countries. Do you know why? They
were not trained on export operations, management, documentations and the best
methods of payment in export trade. This is terrible!!! Nigerians cannot
continue to lose money to foreigners in the course of export business.
Exporters, why don’t you get a practical manual that teaches the stages of
export trade from processing and packaging of commodities to receipt of payment
by the foreign buyers. It teaches export operations, export management, export
documentations and methods of payment in export trade? It is a contemporary
step-by-step guide to export trade. It tells all the contemporary dynamics in
export trade. To get it, click on the link below:
No comments:
Post a Comment