The Squandering of a Golden Economic Opportunity - LBS EBS Apr 2016

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Saturday April 09, 2016 08:00 AM / FDC

On the first anniversary of the historic election that swept General Buhari into power, analysts are asking pertinent questions on the economic performance of his administration.

In the last twelve months, the price of oil has declined by another 33%, the stock market has diminished by 26%, vacancy factor in residential and commercial properties increased by 77% and 48% respectively and inflation has spiked to a 3-year high of 11.4%. Fuel queues are back and the naira is still in the dog house.

The public perception is that the Nigerian leadership is totally committed to Economic Growth but there is a need for a Greater Sense of Urgency. The good news is that the 2016 Budget is now ready for disbursement. The naira is now stable in the parallel market and the external reserves have stopped haemorrhaging. The political cost of the delay in making economic decisions is astronomical and the favourability ratings are also dropping.

This edition of the LBS breakfast session / Bismark Rewane and the FDC team looks at the possible risks in the squandering of this Golden Economic Opportunity and its implication on businesses.

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