Thursday, 22 October 2020

NIGERIA IN FOCUS: LCCI, INFLATION, NAIRA AND #ENDSARS PROTESTS

#endsars protest in nigeria

Lukman Otunuga,

Senior Research Analyst at FXTM

 

According to the Lagos Chamber of Commerce and Industry (LCCI), Nigeria has lost roughly N700 billion Naira to the #EndSARS protests over the two weeks.

 

Fellow #Nigerians, are you aware that our #crude #oil will soon become useless? Yes, it will, in no distant time, become #valueless owing to the fact that the #countries that rely on it as their only source of #energy are developing more affordable #alternative sources of energy. When this finally happens, what will we do? How are we currently preparing for this imminent #economic doom? Which other sector will continue to stabilize our economy? Nigerians, the only #solution is developing the #agricultural sector. In fact, this is the only #solution. Very soon, the major source of revenue will become agriculture and #agro-exports. How are you positioning yourself to play big in agro-export #business? Why don’t you get a practical manual that explains the stages of export trade from #processing and #packaging of #commodities to receipt of #payment by the #foreign buyers? Yes, arm yourself with the #contemporary #trends in #export #trade. This manual explains export #operations, export #management, export #documentations and methods of #payment in export trade? Yes, 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 this link: http://www.tectono-business.com/2016/02/contemporary-step-by-step-guide-to.html   

 

This unfavourable development will most likely compound to Nigeria’s woes as the country tussles with rising inflationary pressures, dollar restrictions and depressed oil prices. Inflation is projected to accelerate in the coming months due to removal of fuel subsidies, lower interest rates and recent VAT hike. Such a scenario may enforce downside pressures on the Naira while hitting consumers due to a drop in purchasing power.

 

In a perfect world, the government could pursue deflationary fiscal policy in the form of higher taxes and lower spending to tame inflation. However, such a move could end up worsening matters for Africa’s largest economy which needs both fiscal and monetary support to battle the coronavirus menace.

 

Do you know that the kind of #vehicle you drive goes a very long way in affecting your #image? Yes, your vehicle tells people, including your #prospective #clients, how #comfortable you are. #Comfort is directly proportional to #competence. Of course, if you are competent in what you do, you will be comfortable enough to afford at least a #brand #new vehicle. Have you ever wondered why #banks and other #financial #institutions give their #marketers brand new cars? Your level of comfort goes a long way in determining if your prospective clients will trust you. The reason why you have not won those contracts or deals could be because your prospective customers think that you are incompetent owing to how worn-out your car is. Yes, the onus is on you to acquire brand new cars. Top sales people buy new cars every year. Do you know what? That worn-out vehicle that you currently drive can look like a brand new one. We, at GOF AUTOS LIMITED can make it possible via total #body #work, #refurbishing, #priming, #painting with the best #paint in the #world called #SIKKENS #PAINT, #OVEN #BAKING with a world-class oven and #BUFFERING. #Blue-chip #companies, #CEOs and top #managers give us all their worn-out vehicles for body work. You, too, can enjoy our world-class services. For details about GOF Autos Limited, click: http://www.tectono-business.com/2017/06/gof-autos-limited-best-automobile.html

 

Despite the gloomy outlook and likelihood of Nigeria entering a technical recession during the third quarter of 2020, Nigeria's All Share Index is up almost 7% year-to-date. Given how rising inflationary pressures have hit fixed income securities with Nigeria boasting continual low-yields in the debt market, investors may closely eye local equity markets.

 

Outside of Nigeria, global markets remain influenced by the same old themes. Uncertainty remains the name of the game as the presidential elections approach a deafening crescendo while the stimulus saga in Washington has placed most on an emotional rollercoaster ride! In the latest twist and turns to this overextended series, Nancy Pelosi has set an end-Tuesday deadline to reach an agreement on the US coronavirus stimulus plan.

 

Extra-smart #people deserve extra-smart #investment in #landed #properties at the new #Lagos, otherwise known as #Ibeju #Lekki. This is where great #developmental #projects are currently going on and in the next two years, it will surpass #Lekki Phase 1 Estate. Are you aware that #Lekki #Port will commence full operations in 2022? This implies #port #operations and #development are shifting from #Apapa to Ibeju-Lekki. Any plot of land you buy in Ibeju-Lekki now will appreciate by excess of 200% in 2022. Other notable attraction here include: Lekki #Free #Trade #Zone, #Dangote #Refineries, Eleko #Beach, Lekki, New #Epe #International #Airport, #Eleganza #Industrial #Estate, Pan #Atlantic #University etc. If you have not invested heavily in landed properties, you have not landed. Acquire genuine plots and hectares of land free from government encumbrance in our estates at Ibeju-Lekki. For details, click: http://www.tectono-business.com/2019/07/have-share-of-new-lagos-by-investing-in.html

 

Looking at commodities, Gold is waiting for a fresh directional fundamental catalyst. Talking technicals, major support can be found at $1845 and major resistance can be found around $1985. There is minor support around $1890 and minor resistance at $1935 and $1965. The price action displayed on the daily suggests that Gold is waiting for a fresh catalyst to break out or down. Until then, the precious metal is likely to find comfort within the current $140 range.

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