Inflation Up, Stock Market Down, What Next? - LBS Executive Breakfast Session SEPT 2014


Thursday, September 04, 2014 9:53 PM / FDC

Nigeria’s ranking in the recently published Global Competitiveness Index (GCI) slipped 7 points to No. 127 out of 144 countries. This comes as a surprise after the euphoria surrounding the rebasing of the GDP and hosting of the WEF in Abuja this year.

This report showed that Nigeria’s poor ranking was mainly due to weak institutions and public finances. The government had been basking in the afterglow of the largest economy in Africa status before this hitch.

Also, in the month of August, the leading economic indicators were mixed and the PMI as compiled by FBN slid by 1.6 points. Oil revenues and FAAC funds fell and oil prices declined to as low as $102pb, while inflation increased for the 5th consecutive month by 0.1%.

As the 2015 elections approach, it is becoming clear that it is not likely to be a one-horse race. According to Harold Wilson, the former British Prime Minister, twenty-four hours is a long time in politics.

These and other burning issues are part of the discussions at this month’s LBS Executive Breakfast session with B.J. Rewane and the FDC team.

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