Outlook 2021: Emerging Technologies Have Potential to Spur Growth


Thursday, February 25, 2021   /03:40 AM / By Proshare Research/ Header Image Credit: EcoGraphics

 Proshare Nigeria Pvt. Ltd.  

Technology in 2020

The side effect of the COVID-19 pandemic on world economic activities have turned out to be a blessing in disguise for some of the Information Technology (IT) based businesses as there was an increase in their revenue during this period when other businesses had to be closed due to the lockdown imposed by various countries all over the world. While airline companies were either cutting staff salaries or relieving some staffs of their jobs, Amazon's revenue for Q2 2020 grew by +17.8% to $88.91bn from $75.45bn in the preceding quarter. 


Also, video conferencing platforms like Zoom, Google Meet, and Skype became popular as people used them to hold meetings, learn from home, or to keep in touch with friends and family. This specifically imparted positively on the price of Zoom's stock on the Nasdaq, as it had a positive outlook given the increase in the number of users of the platform. The total number of participants as of December 2019 was almost 10m, this number was reported at 300m+ by April 2020. As of January 2, 2020, before the coronavirus became full-blown, its price was a mere $68.80, but by April 30, 2020, its price opened at $139.99. Furthermore, it came to an all-time high of $572.50 on October 16, 2020, which is a whopping +732% increase in share price within ten months. Its revenue for Q2 2020 was $5.5m from a mere $0.2m a quarter earlier.


Although the coronavirus pandemic also hit Nigerian businesses, IT firms, telecommunication firms, companies, and banks that were quick to adopt the use of IT in their operations were able to stay afloat and record improvements in their top and bottom line. MTN Nigeria recorded a leapfrog in its revenue in Q2 2020, as the company's revenue increased by +48%. Its revenue increased to N638bn in Q2 2020 from N329bn in Q1 2020. The Q3 result was even more outstanding as MTN posted almost N1tn as revenue (see Chart 82).    


Chart 82: MTN Nigeria Revenue and PAT (N'bn) Q1 2020 - Q3 2020

Proshare Nigeria Pvt. Ltd.

Source: MTN Nigeria financial statements


The coronavirus pandemic adversely affected the interest income of banks. But as banks adapted to the "new normal" by focusing on their e-channels, they recorded improvements in their non-interest income as bank customers switched to online platforms. Therefore, banks were able to generate revenue through the fees and commission charged on electronic transactions. The top five banks in Nigeria by market capitalization which include First Bank, UBA, GTBank, Access Bank, and Zenith Bank (FUGAZ) recorded improvements in their fees on electronics products as a percentage of their non-interest income in Q3 2020 Q-o-Q. In Q3 2020, FBN, Zenith Bank, and GT Bank recorded a reduction in non-interest income Y-o-Y, while Access Bank, UBA, and GT Bank recorded improvements (see Table 42).


Table 42: E-Products Revenues of Tier 1 Banks in Nigeria Q1 2019 - Q3 2020

Proshare Nigeria Pvt. Ltd.


The fintech firms in Nigeria have blazed the trail in many stands. Nigeria is now home to over 200 fintech standalone companies, plus there are several fintech solutions offered by banks and mobile network operators as part of their product portfolio. Nigeria's youthful population, increasing smartphone penetration, and a focused regulatory drive to increase financial inclusion and cashless payments, are combining to create the perfect recipe for a thriving sector. To further add spice to the fintech community in Nigeria, the news of the acquisition of Paystack (a Nigerian e-payment start-up) by Stripe for $200m which broke out in October, was met with a lot of excitement.


Illustration 48: Macroeconomic Reactions and Impact on Fintech Landscape

Proshare Nigeria Pvt. Ltd.


The year was not just a sweet ride for all Fintechs in Nigeria. Some fintech companies in Nigeria were affected by regulations that hindered the flow of their business and hence kept them out of business e.g., Lagos State Government banned the use of motorcycles on major highways in the state which led to e-hailing companies like O-ride, Max.ng, and Gokada having to close businesses hence a loss of investment for the owners and employments for the riders. This ban came after the government had already welcomed them into the state with open arms assuring them of cordial relationships and a conducive business environment. In the same vein, the state came up with other controversial regulations for e-taxi hailing companies. This was however reviewed, and a compromise was reached (see Table 43).


Table 43: Lagos State Government's Ride-Hailing Regulations

Proshare Nigeria Pvt. Ltd.


As if the regulatory impediments by the Lagos State government were not enough, the lockdown which was triggered by the coronavirus made it even tougher. For over 6 weeks, OCar, Taxify, and Uber did not work due to the lockdown. Even after the lockdown was suspended, people were still sceptical about using public transport out of fear of contracting the virus which affected the demand for ride-hailing services and hence led to a decline in their revenue.


Digital Currency

The use of digital currency like cryptocurrencies also received a massive boost as people see them as an investment hedge against inflation and as the "future" for means of payment. Bitcoin (BTC), and some "altcoin" witnessed upticks in their prices in 2020. The increase experienced by BTC was attributed to varied reasons ranging from supports from influential people like the co-founder and CEO of Twitter; Jack Dorsey as well as the purchase by institutional investors, and the information by Paypal that it will allow its users to make payments with it on its platform. Furthermore, the rise in bitcoin price could be attributed to the unwillingness of BTC whales to sell their holding of the coins which caused excess demand and led to the phenomenal increase in its price. Towards the end of the year, BTC recorded a YTD increase of +270% (data as of December 28th, 2020) in price. It also rose to an all-time high of $24,000 in December 2020.


Also, in the year, Facebook backed digital currency "Libra" was rebranded "Diem" which is a Latin term for "day" in readiness for its potential 2021 launch of a single, dollar-pegged stablecoin. Also, a major headline that made waves in 2020 was China's ambitious test of a digital version of the yuan. Experiments have begun in four Chinese cities where transactions totalling more than 2bn yuan ($300m) have already taken place.


The best top five cryptocurrencies reviewed in 2020 based on YTD performance were Kusama (KSM) +4,464.01%, SwissBorg (CHSB) +2,891.65%, Celsius Network (CEL) +2,751.47%, CyberVein (CVT) +2,490.91%, and Band Protocol (BAND) +2,202.61%. On the flip side, the five worst cryptocurrencies reviewed in 2020 based on YTD performance were Revain (REV) -71.99%, Orchid Protocol (OXT) -30.44%, Ontology (ONT) -14.57, USDC -0.53%, and Paxos Standard (PAX) -0.51% (see Table 44).


Table 44: The 5 Top Best and Worst-Performing Cryptos YTD

Proshare Nigeria Pvt. Ltd.


The top five (5) cryptos by market cap in 2020 were Bitcoin (BTC) $27,266.12, Ethereum (ETH) $736.74, Tether USD (USDT) $0.9993, XRP $0.2866, and Litecoin (LTC) $130.63 (see Table 45).


Table 45: The 5 top cryptos by market cap performances YTD

Proshare Nigeria Pvt. Ltd.


The Top 10 Emerging Technologies of the Year 2020

According to a special report done by the World Economic Forum, the top 10 emerging technologies below have the potential to spur progress in societies and economies by outperforming established ways of doing things. They are novel yet likely to have a major impact within the next three to five years (see Table 46).

Table 46: Top 10 Emerging Technologies of the Year 2020

Proshare Nigeria Pvt. Ltd.


It is noteworthy to mention that the future of technology will likely be quantum computing. Quantum computers are machines that use the properties of quantum physics to store data and perform computations. This can be extremely advantageous for certain tasks where they could vastly outperform even our best supercomputers. Classical computers, which include smartphones and laptops, encode information in binary "bits" that can either be 0s or 1s. In a quantum computer, the basic unit of memory is a quantum bit or qubit.

For instance, eight bits is enough for a classical computer to represent any number between 0 and 255. But eight qubits is enough for a quantum computer to represent every number between 0 and 255 at the same time. A few hundred entangled qubits would be enough to represent more numbers than there are atoms in the universe. The race to Quantum Computing superiority between the US and China is note-worthy. President Xi funded a multi-billion-dollar quantum computing mega-project with the expectation of achieving a significant quantum breakthrough by 2030. However, thanks to investments by tech giants - IBM, Google, and Microsoft - the United States has maintained its lead in quantum computing. Google recently achieved quantum supremacy by solving a problem in 200 seconds that would take a classical computer 10,000 years to solve.

Technology and the New Normal

The COVID-19 pandemic has given prominence to the technology sector as technology firms recorded a remarkable increase in their profit in 2020. Companies like Zoom, Netflix, Amazon, Facebook were major gainers despite the ravishing effect of the coronavirus on other businesses.

Some analysts have predicted that there might be a reversal in the profit trends of some companies that have benefited from the pandemic. For example, it is predicted that when countries inoculate their citizens and fewer people work from home, there will be lower demand for the use of video conferencing applications like Zoom, Google meet, etc. On the other hand, a company like Amazon would likely record a continuous rise in profit as its services rendered remain relevant regardless of the presence or absence of a pandemic.

Technology is the future. Therefore, companies, countries, and individuals who are quick to adopt technology to operations and governance are likely going to remain relevant in the future.

Tech Firms

There are fears that the surge in revenue experienced by tech firms because of the coronavirus pandemic lockdown won't be sustained in 2021, but the 2nd wave of the virus seems to suggest the opposite. Major European countries are on lockdown while some states in Nigeria have threatened to lockdown their economies if the numbers of infections continue to rise and citizens do not adhere to the protocols put in place to curb the spread. Furthermore, some company's decision to retain the work from home principle seems to suggest that some tech companies in Nigeria will remain profitable as video conferencing app like Zoom, Skype, and Google Meet and telecommunication companies like MTN, Airtel, Glo and 9moile would record an increase in data usage. This suggests that there might be a repeat of 2020, where some employees would need to work from home, official meetings will be held online, and webinars would continue to be the order of the day. Also, it implies that internet data would be needed for official and personal reasons. E-commerce companies, therefore, are likely going to remain profitable, as gain in online sales prominence will likely be retained. Therefore, 2021 promises to be a good year for the tech firms (GSM service providers, fintech companies, e-commerce businesses, etc).

Fintech companies, however, should quest for opportunities that exist within the education and health sector to address societal challenges such as student financing, digital learning, and affordable health insurance. Also, fintech companies can spread their tentacles by coming up with products to cater to the unbanked as most of their customers seem to be banked. This will drive financial inclusion significantly in Nigeria.

Going forward, it is expected that regulators do their due diligence while formulating policies to avoid the policy summersault like that which was experienced in Lagos State last year where the investors in the ride-hailing business were welcomed with open hands and within a short time, a pronouncement was made which capitulated their businesses. Inconsistency in government policy is a disincentive for the inflow of FDI, as investors tend to flock to economies where there is consistency in government policies.


With an increase in the use of electronic channels (USSD, mobile and online Banking, ATMs), by Bank’s customers, it is expected that the share of e-products revenues as a percentage of non-interest income (NII) would continue its upward momentum in 2021. The likely increase would be attributed to the maintenance of social distancing and other COVID-19 protocols in the bank to halt the spread of the virus. Thus, it is expected that customers would find it more convenient to access alternative banking channels provided by their respective banking institutions. On the flip side, if Nigeria's economic woes worsen in 2021, Nigeria banks might be adversely affected and hence they might need to either restructure their loans to avoid an increase in their non-performing loans.


Digital Currency

It is expected that the unprecedented increase in the prices of some cryptos last year will continue this year as many people now see them as a store of value or investment. It is forecasted by some analysts that Bitcoin (BTC) could get to $100,000 by the end of 2021. Their forecast is hinged on the persistence of low-interest rates and the rise in BTC buyers. However, it should be noted that the cryptocurrency market is very volatile, therefore investors should always diversify their investment portfolio. Furthermore, investment in cryptos could be used as a hedge against naira devaluation.


Quantum Computing

Quantum computing could spur the development of breakthroughs in science, medications to save lives, machine learning methods to diagnose illnesses faster, materials to make more efficient devices and structures, financial strategies to live well in retirement, and algorithms to quickly direct resources such as ambulances. The development of quantum computing is slow as of now as commercial use is not expected until decades from now. However, with the huge investment by the US and China, this could be sooner than expected. Business organizations like banks, pharmaceutical companies, business consulting/advisory firms, and financial analysts are therefore expected to acquaint themselves with this next big thing in the technology world so as not to be left behind. 


Adapting Technology to Cope with Uncertainty

A new year comes with new aspirations and plans by individuals and corporates organizations alike. It is therefore expected that businesses in Nigeria adapt the use of technology to their operations as there are still uncertainties as well as opportunities that the new year will present.

Watch Video

Proshare Nigeria Pvt. Ltd.

Proshare Nigeria Pvt. Ltd.

Downloadable Version of Goodbye 2020, Hello 2021, Understanding the Mega Trends of a Crucial Year for an Economy Report (PDF)

1.     Complete Report: Outlook 2021: Understanding the Mega Trends of a Crucial Year for an Economy- Jan 28, 2021

2.     Executive Summary: Outlook 2021: Understanding the Mega Trends of a Crucial Year for an Economy- Jan 28, 2021

Proshare Nigeria Pvt. Ltd.

Related Links

1.      Outlook 2021: Understanding 2021's Mega Trends

2.       Outlook 2021: Emerging Technologies Have Potential to Spur Growth

3.       Outlook 2021: A Gaze into Market Performance - Nigeria and the Commodities Market

4.       Outlook 2021: A Gaze into Market Performance - Equities Market

5.       Outlook 2021: A Gaze into Market Performance - Fixed Income and Currency Markets

6.       Outlook 2021: How Sectors of the Economy Fared in 2020 - Transportation Sector

7.       Outlook 2021: How Sectors of the Economy Fared in 2020 - Finance and Insurance Sector

8.       Outlook 2021: How Sectors of the Economy Fared in 2020 - Telecommunication Sector

9.       Outlook 2021: How Sectors of the Economy Fared in 2020 - Oil and Gas Sector

10.  Outlook 2021: How Sectors of the Economy Fared in 2020 - Agriculture Sector

11.  Outlook 2021: How Sectors of the Economy Fared in 2020 - Manufacturing Sector

12.  Outlook 2021: A Review of Monetary and Fiscal Policies Introduced in Nigeria in 2020

13.  Outlook 2021: Inside a Perfect Storm: Monetary and Fiscal Sword Fencing -Monetary Policy

14.  Outlook 2021: Inside a Perfect Storm: Monetary and Fiscal Sword Fencing - Nigeria's Fiscal Policy

15.  Outlook 2021: The Year 2020 in Retrospect - A Bleak Year for Households

16.  Outlook 2021: Eyeballing Major Economic Indicators in 2020 - Exchange Rate

17.  Outlook 2021: Eyeballing Major Economic Indicators in 2020 - Nigeria's Public Debt

18.  Outlook 2021: Eyeballing Major Economic Indicators in 2020 - Trade Balance

19.  Outlook 2021: Eyeballing Major Economic Indicators in 2020 - Capital Inflow

20.  Outlook 2021: Eyeballing Major Economic Indicators in 2020 - Unemployment

21.  Outlook 2021: Eyeballing Major Economic Indicators in 2020 - GDP

22.  Outlook 2021: Eyeballing Major Economic Indicators in 2020 - Inflation

23.  Outlook 2021: Examining Global Economic Indicators - Trade

24.  Outlook 2021: Examining Global Economic Indicators - Unemployment Rate

25.  Outlook 2021: Examining Global Economic Indicators - Inflation Rate

26.  Outlook 2021: Examining Global Economic Indicators - GDP

27.  Outlook 2021: Examining Global Economic Indicators - PMI

28.  Outlook 2021: Fiscal and Monetary Measures Were Applied to Cope With the Effect of COVID-19

29.  Outlook 2021: Understanding the Mega Trends of a Crucial Year for an Economy

Proshare Nigeria Pvt. Ltd.

Related News on Growth and Recovery

1.       African Statistical Yearbook 2020: Africa Experienced Strong GDP Growth from 2000 to 2019

2.       How Countries Are Performing on the Road to Recovery

3.       World Bank Appears Less Optimistic About Growth Prospects Across the Globe

4.       Corruption and COVID-19: The Pandemic Has Heightened The Importance of Stronger Governance

5.       Global Output Expected to Expand by 4% in 2021, Still Below Pre-Pandemic Trend

6.       AfDB Takes Steps to Accelerate the Circular Economy in Africa

7.       World Bank Group to Boost Nigeria's Efforts to Reduce Poverty

8.       IMF Staff Completes 2020 Article IV Mission to Nigeria

9.       Open Trade and Economic Inclusion Key to Post-COVID Recovery

10.  AfDB's AgriPitch Competition Awards $120,000 in Prizes to African Youth Agripreneurs

11.  Bridging the Digital Divide to Scale Up the COVID-19 Recovery

12.  AfDB, AIF Founding Partners Announce Postponement of the Africa Investment Forum to 2021

13.  Remittance Flows to Shrink 14% by 2021 Due to COVID-19

14.  How COVID-19 Will Increase Inequality in Emerging Markets and Developing Economies

15.  SSA October 2020 Regional Economic Outlook: A Difficult Road to Recovery

16.  Communique of the 42nd Meeting of the IMFC Chaired by Mr. Lesetja Kganyago

17.  WEO: A Long and Difficult Ascent - Global Growth Projected at -4.4% in 2020

18.  IMF Executive Board Approves the Extension of Increased Access Limits Under the RCF and RFI

19.  IMF Extends Immediate Debt Service Relief for 28 Eligible Low-Income Countries for 6-months

20.  Reform of the International Debt Architecture is Urgently Needed

21.  African Development Bank Named to the Board of World Business Angels Investment Forum

22.  COVID-19's Negative Impact on Health and Education May Last Decades

23.  Opening Remarks at the 2020 International Conference on Sustainable Development

24.  World Bank Sets Ambitious Targets for Green and Resilient Economic Growth in Africa

25.  Supporting Migrants and Remittances as COVID-19 Rages On

26.  IMF Managing Director Georgieva's Remarks at the Global Steering Group Global Impact Summit

27.  Supporting Public Private Partnerships in Africa: AfDB Ready to Scale Up

28.  Event of the Finance Ministers on Financing for Development in the Era of COVID-19 and Beyond

29.  Nigeria in the Time of COVID-19 - Rising to the Challenge

30.  Final Communique of the 55th AGM of the Board of Governors of AfDB

31.  COVID-19: Without Help, Low-Income Developing Countries Risk a Lost Decade

32.  2020 Annual Meetings of the AfDB: A Renewed Commitment to Economic Resilience in Africa

33.  Tourism Trauma and COVID-19

34.  COVID-19: Youth Resilience is the Boost We Need Right Now

35.  External Sector Report: Global Imbalances and the COVID-19 Crisis


Proshare Nigeria Pvt. Ltd.

CMO Reports

1.       Nigeria: 2021 Full Year Outlook - Awaiting Dawn

2.       Bracing for a Different Future - Meristem Annual Outlook 2021

3.       2021 Economic Outlook - Light at The End of The Tunnel

4.       The Nigerian-British Chamber of Commerce 2021 Economic Outlook

5.       Q1 2021 FX Outlook: Risk-on Stages a Comeback

6.       Nigeria Economic Outlook 2021: A Shot at Recovery

7.       2021 Outlook - Is The Tunnel Getting Darker or Brighter

8.       Nigeria in 2021: Positioning in the New Normal

9.       Nigeria 2021 Outlook - Navigating Unsteady Terrain

10.  Nigeria FY 2021 Macroeconomic Outlook - A Break in the Clouds

11.  Nigeria 2021 Outlook: COVID-19 Recession and the Long Road to Economic Recovery

12.  Q4 2020 Economic Outlook: Out of Reverse and into Second Gear

13.  Nigerian Equity Market Outlook: COVID Out, Riots In?


 Proshare Nigeria Pvt. Ltd.

Related News on Reviews and Outlooks

1.       Candid Dialogue on Africa's Investment Landscape

2.      Negative Outlook for Sub-Saharan African Sovereigns as Debt Costs Will Intensify Post Pandemic

3.      The Nigerian-British Chamber of Commerce 2021 Economic Outlook

4.      Fitch Revises Coronation Merchant Bank's Outlook to Stable; Affirms IDR at 'B-'

5.      Moody's - Nigeria's Deficit and Debt to Stay High After Coronavirus and Oil Shocks

6.      Moody's Takes Ratings Actions on 32 Banks in Africa Following Update to Country Ceilings Methodology

7.      Risks to Nigerian Banks' Asset Quality Loom in 2021 and Beyond

8.      Moody's Announces Changes in Country Ceilings Following Methodology Update

9.      Fitch Ratings Sees Gradual Recovery for African Banks in 2021

10.   DCSL to hold its 13th Webinar Series Focused on the Year 2020 Business Review

11.    Uncertain Recovery: 10 Macro Trends That Will Shape 2021

12.   Fitch Affirms Seplat at 'B-'; Outlook Positive

13.   Agusto and Co Unveils its 2020 Consumer Digital Banking Satisfaction Index

 Proshare Nigeria Pvt. Ltd.


Related News on Monetary Policy

1.       Monetary and Interest Rate Policy in 2021: Going for Growth

2.      CBN to Sustain Expansionary Monetary Policy Till Q1, 2021 - Cordros Securities

3.      Ten MPC Members, One Shared Outlook

4.      Further Slowdown in PSCE Growth in November 2020

5.      Personal Statements By The MPC Members At The 133 MPC Meeting of Nov 23-24, 2020

6.      CBN Rolls the Dice to Tackle Market Liquidity and Dollar Dearth

7.      Implications of CBN's Introduction of Its Special Bills to the Market

8.      CBN Introduces Special Bills to Deepen the Financial Markets, An Additional Liquidity Mgmt Tool

9.      Faltering Increases in Private Sector Credit Expansion

10.   Post-November 2020 MPC View: Back to the Committee's Favoured Stance

11.    CBN Communique No. 133 of the MPC Meeting - Nov 23-24, 2020

12.   As Expected, MPC Retains All Key Parameters At The End of November 2020 Meeting

13.   Monetary Policy Committee Decision Preview: MPC Expected to Retain Policy Parameters - Access Bank

14.   A Pause to Reflect from the MPC

15.   LDR Policy: Over One Year After, Where Are We?

16.   Monetary Policy Response in Emerging Market Economies: Why Was it Different this Time?

17.    Endorsement of the CBN's Development Finance

18.   Slowdown in the Expansion of PSCE

19.   Personal Statements By The MPC Members At The 132 MPC Meeting of Sep 21-22, 2020

20.  MPC Surprise Rate Cut: Limited Impact on Credit Growth

21.   LDR Policy: Plausible But Insufficient to Stimulate Growth

22.  Banks Lend, the CBN Pushes Forbearance

23.  Low Liquidity Expected to Dampen Impact of Lower Rates

24.  Possible Implications of MPC's 100bps Policy Rate Cut

25.   CBN Communique No. 132 of the MPC Meeting - Sep 21-22, 2020

26.  CBN MPC Reduces MPR to 11.50%, Retains Other Parameters After Sept 2020 Meeting

27.   An Eye into Possible MPC Outcomes

28.  MPC Preview: Balancing FX Stability and Moderating Economic Contraction

29.  Several Pointers to Same Again From the MPC

30.  Implications of CBN's Downward Review of the Interest Rate on Savings Deposit

 Proshare Nigeria Pvt. Ltd.

Related News on Fiscal Policy

1.       Nigeria Fiscal Guide 2020

2.      SERAP Calls for Simplification of Government Processes for COVID-19 Management in Nigeria

3.      SERAP Calls for No Budget Allocation to MDAs That Fail to Remit to Federation Account

4.      FGN Revises Excise Regime and Removes Import Duty on Materials Used in The Production of Banknotes

5.      DMO Clarifies China's Loans to Nigeria; Economic Viability and Revenue Issues Left Out

6.      Taiwo Oyedele To Speak on Nigeria's Fiscal Sustainability Tomorrow on WebTV

7.      Suleyman Ndanusa To Speak on Nigeria's Revenue Diversification Tomorrow on WebTV

8.      Addendum to the 2020 - 2022 MTEF and Fiscal Strategy Paper

9.      LCCI Report Affirms Need for Fiscal Authorities to Act

10.   Framework for the Management of COVID-19 Funds in Nigeria under the Treasury Single Account

11.    COVID-19: Federal Government Exempts Medical Supplies from VAT and Import Duty

12.   Stimulant is Necessary but not Sufficient - FDC

13.   Fiscal Position: Still Critical but Temporary Panacea in Sight

14.   Pick and Mix in Nigeria's Response to the COVID-19 Virus - FBNQuest

15.   FG Adds to Armory for COVID-19 Showdown

16.   COVID-19: Federal Government of Nigeria Announces Fiscal Stimulus Measures

17.    Fiscal and Monetary Responses to COVID-19 Menace: Racing Against Time

18.   FG Launches Financial Transparency Policy Portal

19.   Treasury Single Account - The Puerto Rican Government Earned $49m in Interest Fiscal YTD

20.  Friedrich Hayek and The Price System: The Future Of Classical Liberalism and The Free Market

21.   Economic and Institutional Restructuring for the Next Nigeria - Soludo

22.  How Government Policy Affects Business , Society In National Development and Changing Environment

23.  Nigeria's Fiscal Quandary: A Revenue Problem Or A Debt Problem?

24.  Irrespective of Who Wins 2019 Elections, ERGP Should Be Sustained - Toyin Sanni

25.   2019-2021 MTEF and Fiscal Strategy - First Fiscal Projections Through to 2021

26.  Government Role In The Economy - Differentiating Policies And What Elections2019 Comes Down To

27.   Federal Government releases 2018 Fiscal Policy Measures

28.  Buhari Signs Bills Granting Financial Autonomy To State Assembly And Judiciary; Signs 3 Others

29.  NESG leads Discourse on Low Carbon Investments Opportunities in Nigeria

30.  NESG establishes Nigeria Fiscal Policy Roundtable to help boost government revenues

 Proshare Nigeria Pvt. Ltd.

Related News on Nigerian Economy

1.       Nigerian GDP Better Than Thought

2.      Inflation Spikes Despite Harvest and Land Border Re-opening

3.      Nigeria's Misery Index Rises as Inflation Reaches 15.75%

4.      FGN to Convert CBN Loans to Tradable Securities as Debt Soars

5.      Headline Inflation Increases by 15.75% YoY In December 2020, 0.86% Higher Than November 2020 Rate

6.      FGN's External Debt Service Obligations Reached a Total of US$507m in Q3 2020

7.      Nigeria's High Recurrent Costs, Low Revenue and Escalating Debt Numbers

8.      62.18% of Nigeria's Total Public Debt as of Q3 2020 Was Domestic - NBS

9.      Q4 2020 Macroeconomic and Markets Report - Growth Expectations Remain Gloomy for Nigerian Economy

10.   Rising Crude Oil Prices and the Nigerian Economy

11.    COVID-19 Containment and ESP Implementation Key for Nigeria's Economic Recovery - Prof. Akpan Ekpo

12.   Q3 2020 Debt Stock: World Bank Almost The Largest External Creditor

13.   Headline Inflation to Continue its Runaway Trend in December 2020

14.   FGN's Domestic Debt Service on a Plateau, Totalled N604bn in Q3 2020

15.   Naira Crawling Peg?

16.   PMI Reading No 93: A Seasonal High for the Year

17.    Nigeria's Public Debt Stock as of September 30, 2020 Stood at N32.22trn

18.   The Year 2020 in Retrospect: A Bleak Year for Households

19.   All Commodity Group Import Index Rose by 1.89% in Q3 2020 - NBS

20.  A Year in Two Charts

21.   PMI Readings Show Pessimism in the Month of December 2020

22.  FGN's Q3 2020 Deficit on Target, Spending Compressed

23.  CBN Poll: Respondent Firms Expect the Naira to Depreciate Next Month

24.  Economic Crisis to Sink 7million People into Poverty in Nigeria

25.   Revenue Collection Again Below Benchmark in Q3 2020

26.  CBN Poll: 60.8% of Respondents Believe Nigerian Economy would End Up Weaker if Prices Rise Faster

27.   Interest Rates on the Rise

28.  The Nigeria's FX Crisis: Overarching Consequences of Insecurity and Structural Deficiency

 Proshare Nigeria Pvt. Ltd.

Special Reports & Publications

1.      Oil and Gas: Working the New Normal in the Time of a Pandemic

2.     Banks in H1 2020: Imagining Beyond COVID-19

3.     Online Trading Ranking Report 2020 - Trading in a Period of a Virus; Building Good Habits

4.     Banks in H1 2020: Imagining Beyond COVID-19

5.     CEO Remuneration 2020 Report: Between 2019 and 2020; Understanding The New Realities

6.     Memo To AMCON: Nigerian Tax Payers are not Responsible for Repayment of Bad Debt

7.     Coronanomics (1) - Understanding the Realities of an Impending Recession

8.     Bank NPLs  - The Case for a New Industry Approach

9.     NCM2020 - Fin. MKT in Transition: Understanding Past Uncertainties; Preparing for New Possibilities

10.  Banks' H1 2019 Numbers: Top Line Growth, Bottom Line Uncertainty

11.   Budget 2019: The Hidden Monsters

12.  Surviving Uncertain Times in the Nigerian Financial Market

13.  The Rich, The Poor and Buharinomics

14.  Nigerian Banks- Performance - H1 2018

15.  AMCON and Financial Services Debt Burden in Nigeria

16.  Poverty Tracker and Nigeria: Raising The Red Flag

17.  POCKET Economics: Addressing Income Inequality

18.  The Silent Drug Epidemic: A Gathering Storm

19.  Judging IMF’s Position on Development Indices

20. Money Market: The Folk Road

21.  The Headache of Missing Targets

22. 2018 Outlook on the Nigerian Economy: The Need for an Even Keel

23. Nigeria External Economy and the White Noise of Import Dependency

24. States and the Rising Weight of Debt

25. Money Supply: Reeling from Policy Response


 Proshare Nigeria Pvt. Ltd.


 Proshare Nigeria Pvt. Ltd.


Related News