FDC BI-MONTHLY ECONOMIC & BUSINESS UPDATE – FEBRUARY 01, 2018

Dear Subscriber,

Technology has evolved rapidly over the years and its growing importance in financial services cannot be overemphasized. FinTech leverages on applied sciences to deliver faster, cheaper and more efficient financial services.  This poses a threat to traditional banks who are currently battling with declining yields on fixed income securities. Brick and mortar banks will have to source for alternative means of funds and embrace digital revolution to stay relevant.

The Federal government increased the fuel pump price from N87/ltr to N145/ltr in May 2016 and promised to review the minimum wage. However, the last review was in 2011 and the clamor for an upward review of the minimum wage continues. In the run up to the elections in 2019, the political pressure for an adjustment will intensify and it is more likely than not that we will see this happen. Such a decision will be politically expedient but not materially convenient.

In this edition of the FDC Bi-monthly publication, the FDC Think-Tank analyzes these issues and their implications on businesses and investments.

Enjoy your read.