As H2’24 Outlook becomes more encouraging, investment is likely to become more attractive

Plytable:
In H1 '24, Nigeria's economy encountered insecurity and various economic challenges stemming from ongoing reforms.

The change in the trend of capital importation to Nigeria since last year is consequential for the Nigeria economy; to match that Olayemi Cardoso, the CBN governor revealed diaspora remittances, makes 6% of Nigeria’s GDP, in 2024.

Forecast for H2, 2024
To foster growth that will create substantial opportunities across sectors of the economy in H2, it is crucial to pursue strategic investments, address insecurity, particularly in food-producing regions, boost oil revenues, curb corruption, and ensure effective implementation and monitoring of policies.

Domestic
- Inflation to get to an inflection point and begin to a decline
- Capital importation trend to be driven by portfolio investment
- Relatively stable exchange rate due to ongoing reforms of the CBN

Global
- Global trade tensions are likely to persist, especially with the upcoming BRICS summit scheduled for October.
- Environmental concerns and geopolitical tensions are also expected to continue, particularly as the United States prepares for its election.
- US FED to begin policy rate cut
- Global economy to experience moderated growth.

Read details in the full report - https://www.linkedin.com/feed/update/urn:li:activity:7227677307975446531