As we enter into the campaign phase of the 2019 general elections, the politicization of economic policy with data propaganda is becoming more manifest, and is taking precedence over objective analysis.
The 2018 budget is still stuck in limbo, the MPC met and kicked the can down the road again, after 21 months of same old, same old. The economy is at the mercy of the oil markets that are almost outside Nigeria’s control.
In spite of the political uncertainty, investors are becoming more comfortable with the slow but stable GDP growth rate and the general positive trend of the leading economic indicators.
Stock market investors have been relatively sceptical about the earnings results announced by bellwether companies. In all, N557bn has been wiped off the market capitalization of the NSE in March 2018.
All told, the second quarter is likely to be more challenging for investors and manufacturers, as they cope with VAIDs compliance and the new excise duties on alcohol beverages and spirits.
All of these and more have been covered in this month’s edition of the LBS Executive Breakfast Session, in which Bismarck Rewane and the FDC Think Tank provide an analysis of the implications of these developments on your business, investments and personal consumption.
Enjoy your read!