Tag: Andrew Nevin
Buhari stops Nigeria’s Central Bank from issuing foreign exchange for food imports
These are trying times for Nigeria's economy, as an expected recession means the government has to take pro-active steps to mitigate the impact of the recession and recover in the shortest period.
PwC Nigeria: How the COVID-19 lockdown extension, OPEC production cut impacts Nigeria
As Nigeria extends the lockdown for another 14 days, OPEC and Allies agreed to cut oil production by 9.7 million barrels from the first of May, through to the end of June.
Dipping oil prices putting Naira under pressure, how badly is this affecting Nigerian economy?
A spike in parallel market rates in the past few days has seen the Nigerian Naira come under pressure in recent days, but the Central Bank of Nigeria (CBN) maintains that market fundamentals do not support devaluation at this time. The CBN says it is investigating to clamp down on people involved in speculative market behaviour. As Nigerians also await communication from the committee set up to assess and respond to the impact of the coronavirus on the 2020 budget and Nigerian economy, Andrew Nevin, Partner and Chief Economist at PwC Nigeria and Aminu Gwadabe, President of the Association of Bureau De Change Operators of Nigeria joins CNBC Africa to assess how recent developments impacts Nigeria's economy.
UK pushes for deeper trade ties with Africa ahead of Brexit
The Nigerian Investment Promotion Commission (NIPC) and the UK Department for International Development (DFID) launched the Nigeria Investment Guide on the side-lines of the ongoing UK-Africa Investment Summit. Meanwhile, the International Monetary Fund says Nigeria’s economy is estimated to grow by 2.5 per cent in 2020 and 2021. Kyari Bukar, Former Chairman of the Nigerian Economic Summit Group and Andrew Nevin, Partner and Chief Economist at PwC Nigeria join CNBC Africa to discuss these developments.
The impact of IMO’s global sulphur cap on Africa
From the first of January 2020, the International Maritime Organisation's Fuel Sulphur Regulation comes into effect. The regulation provides a 0.5 global sulphur cap on fuel content from 3.5 per cent. Andrew Nevin, Partner and Chief Economist at PricewaterhouseCoopers (PwC) Nigeria and Steve Jones, Founding Director of Energex Partners join CNBC Africa’s Kenneth Igbomor to discuss how this will impact the oil industry in Africa.
The impact of diaspora remittances to African economies
PwC Nigeria says official remittances to Sub-Saharan Africa grew by 10 per cent to $46 billion in 2018. Andrew Nevin, Partner and Chief Economist at PwC Nigeria says these funds are supporting economic activities on the continent. He joins CNBC Africa’s Esther Awoniyi for more.
Unlocking dead capital in Nigeria
PwC estimates the amount of dead capital in residential real estate and agricultural land alone could be between $300 to $900 billion. Andrew Nevin, Partner and Chief Economist at PwC Nigeria joins CNBC Africa to explore ways to unlocking Nigeria’s dead capital.
CBN governor Godwin Emefiele shares 5-yr policy direction
Governor of the Central Bank of Nigeria, Godwin Emefiele says the apex bank plans to pursue a program of recapitalising the banking industry in the next five years. He made this known while unveiling his 5-year policy direction for his second term in office. Andrew Nevin, Partner and Chief Economist at PwC Nigeria joins CNBC Africa to assess the CBN’s 5-year plan.
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