Dear Subscriber,

Santa with a mask

By the Gregorian calendar, we are in the season of laughter, joy and good cheer. There are quite a few things dampening the holiday spirit – Omicron, oil price volatility and renewed travel restrictions, but we move! Music concerts are back, football stadiums were running at full capacity before the latest glitch, and we can even go to the cinemas and block parties. It is not the typical “Detty December” but we are better off than last year and this raises hope for a brighter 2022.

As the curtain calls on 2021, it is now time for sober reflection and hard choices. Nigeria’s GDP growth rate (4.03%) is still below its potential GDP growth rate (8%); commodity prices are high and forex policy is far from clear, as the naira is still a victim of speculation, fear and panic. Not only that, the much desired investment flows are negative. The appetite for new deals is stalling due to policy ambiguity and electoral political risks.

As 2022 beckons, there is hope and promise and we remain cautiously optimistic about a better year. As you chill out and read this Christmas Edition of the FDC Relaxnomiks, remember that 2022 will require determination, hard choices and an optimal mix of leisure and work.

Merry Christmas and a happy new year!!!

Enjoy your read!