Global measurement
company, Nielsen, said
Nigeria has again declined in
the prospects rankings of
African countries, falling by a
further three places from its
previous ranking to seventh
position on the firm’s 2016
African Prospects Indicator
(APi) ranking. According to
the firm, while Nigeria topped
its inaugural APi ranking in
the first quarter of 2015, the
country subsequently
dropped to the fourth
position in the second half of
2015.
The firm said:“Nigeria topped
the inaugural list in Quarter
1, 2015, but has
subsequently dropped to a
more moderate fourth
position in the second half of
2015, and currently falls a
further three places to
seventh position.
Its retail, macro and
business prospects have
deteriorated, with the macro
and business indicators,
ranking eighth and sixth
respectively.” Nielsen noted
that market conditions in
Nigeria have remained
extremely constrained,
following the slump in oil
prices.
It added that fuel and power
supply issues, the foreign
exchange crisis, as well as
the naira’s devaluation have
also impacted the economy.
“In April this year, the
International Monetary Fund
(IMF) revised the Nigerian
2016 growth rate down from
the original forecast of 3.2
per cent to 2.3 per cent.
The five main reasons for
this were: lower oil price,
shortfalls in non-oil
revenues, deterioration in
finances of state and local
governments, increased
disruptions in the private
sector activity due to
constraints in access to
foreign exchange, and a
resurgence in security
concerns,” the firm stated.
Nielsen said Cote d’Ivoire,
Kenya and Tanzania maintain
the first, second and third
place on it latest prospects
ranking and currently
provide more stable
investment destinations than
the larger economies of
Nigeria, South Africa and
Angola that have lower
expectations.
The firm further stated that
results reported in the 2016
APi (the third edition) are
based on multiple, weighted
data as at Quarter 1, 2016.
The study covers multi
dimensional, comparative
indicators for nine of Africa’s
leading markets, where
common measurement
information is available, and
is representative of 70 per
cent of Sub Saharan Africa’s
GDP and 48 per cent of the
population.

mamabomboy:
Thank you Mr Dullard