Have stocks gained from Nigeria’s financial repression?

Nigerian stocks saw a short-lived gain from the artificially low interest rate environment until the Covid-19 pandemic struck. The financial repression tactics employed by Nigeria’s monetary authority, which triggered low interest rates on naira assets, peaked in the fourth quarter of 2019 and contributed to a modest rally in stocks. In that period, Nigerian stocks……

Nigeria’s Situation Room commends conduct of Edo guber election

The Nigeria Civil Society Situation Room has applauded the peaceful conduct of Edo Governorship elections held on Saturday, applauding role of the Independent National Electoral Commission (NIEC), professionalism of security agencies as well as some level of compliance on Covid-19 guidelines. It however calls for a more effective enforcement of election laws that prohibit vote……

Why New National Development Plan must prioritise productive economy, double digit growth

With raging concerns on the weak performance of Nigeria’s economic plans, programmes and policies, industry analysts have challenged the Federal Government to look beyond gross domestic product (GDP) growth and prioritise human productivity as it prepares to unveil a post vision 20:2020 strategic document. This suggestion is coming on the heels of the weak performance……

How risk of Nigeria’s artificially low interest rates exceeds policy gain

Aimed at diverting liquidity away from risk-free instruments to the real sector, Nigeria’s low-interest rate policy may have achieved its purpose but its side effect could mean more challenges for Nigeria’s already troubled economy. The financial repression tactics by the Central Bank of Nigeria (CBN) have eroded the high returns on savings and investments, and……

How pension funds reel from negative real interest rates

A collapse in yields on Nigerian assets is leaving pension fund administrators (PFAs) with no choice but to plough back pensioners’ funds into assets offering rates below inflation. Nigeria’s biggest institutional investors, the PFAs, are reeling from a negative real interest rate environment, after a host of Central Bank of Nigeria’s (CBN) policies aimed at……

Obaseki basks in victory, greets Buhari

As congratulatory messages continue to come the way of Governor Godwin Obaseki over his victory in the off-season gubernatorial election held in Edo State yesterday, the re-elected governor has however thanked President Muhammadu Buhari for defending the nation’s democracy. Obaseki also commended the president for allowing the Independent Electoral Commission (INEC) and the security services……

Hoteliers may abandon franchise, agreement as business declines

Considering the high exchange rate and persisting lull in business occasioned by the coronavirus (COVID-19) pandemic, many Nigerian hoteliers are now struggling more to pay franchise and management fees, which are dollar denominated, to their foreign brand managers. Due to the development, some are already defaulting in fulfilling the management agreements they signed with their……

Lagos labs scramble for reagents as flight resumption surges demand for COVID-19 test

Medical laboratories in Lagos, Nigeria’s epicentre of COVID-19 spread, are scrambling for reagents (mixture/chemical for carrying out test) in an impromptu race to feed the demand surged by the resumption of international flights. The demand has spurred the expansion of sample collection capacity across the state and encouraged labs to take initiatives like logistics support……