Nigeria | - Part 4

Nigeria and Angola’s dependence on oil and gas creates challenges

LAGOS (Capital Markets in Africa) – Although Nigeria (B2 stable) and Angola’s (B3 stable) economies, external positions and public finances are expected to stabilise, their continued dependence on oil and gas means they will both face a range of challenges in the coming years, Moody’s Investors Service said in a report today. For Angola, the key issue will be managing its liquidity pressures and higher debt burden alongside further currency devaluation. For Nigeria, it will…

INTO AFRICA June 2018 Edition – Renewed Optimism: African Real Estate

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) –Welcome to the June 2018 edition of INTO AFRICA, a publication with fresh insight into Africa’s emerging capital markets. This month’s edition, titled: Renewed Optimism: African Real Estate, examines the opportunities as well the challenges in the African real estate markets. Africa’s continuing economic and social development is encouraging investors to expand their portfolios in the continent and the yearning for long-term investment has drawn increased numbers of international investors…

Easing Inflation, Stable Naira Show Nigeria MPC May Be Right

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LAGOS (Capital Markets in Africa) – Nigerian central bank Governor Godwin Emefiele’s tight monetary-policy stance and system of multiple exchange rates may have paid off through slowing inflation and a stable naira, and he’s not about to change that soon. The Monetary Policy Committee is meeting this week with price growth at a two-year low. All but four of the 15 economists in a Bloomberg survey said the panel will continue its unchanged stance on Tuesday. The MPC…

Nigerian Economy Expands in First Quarter as Oil Output Rises

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LAGOS (Capital Markets in Africa) – Nigeria’s economy expanded for a fourth straight quarter in the first three months of the year, boosted by an increase in oil prices and output. Gross domestic product expanded 1.95 percent in the three months through March from a year earlier, Abuja-based National Bureau of Statistics said in an emailed report Monday. That lags the 2.6 percent median estimate in a Bloomberg survey. While it accounts for only about 10…

Nigeria Holds Key Rate at Record-High 14% on Inflation Risks

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Nigeria’s central bank held its main lending rate at a record-high 14 percent as it seeks to bring inflation down to within its target band. Of the nine members of the Monetary Policy Committee who attended this week’s meeting, eight voted to leave the benchmark rate, Governor Godwin Emefiele told reporters in the capital, Abuja, on Tuesday. That decision matched the median estimate in a Bloomberg survey. Lawmakers only approved 2018 spending…

Nigerian Oil and Gas Sector: Regulations and Incentives

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Nigeria is currently facing significant challenges in its petroleum industry because of the volatility of oil prices1, pipeline vandalism and illegal refining. It is clear that the country must reduce its reliance on crude oil income by developing its midstream and downstream sectors and leveraging on its natural gas reserves. The existing petroleum regulatory framework however discourages investment in the sector and has proved to lack the requisite comprehensiveness…

INTO AFRICA May 2018 Edition: Bouncing Back – African Oil and Gas

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Welcome to the May 2018 edition of INTO AFRICA, a publication with fresh insight into Africa’s emerging capital markets. This month’s edition, titled: Bouncing Back: African Oil and Gas explores oil and gas laws and regulations across African countries as well financing options for oil and gas projects. With the oil price pushing through to the US$70 mark, and further confidence that the price will remain more stable in…

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