In its 2020 Country Private Sector Diagnostics report for Nigeria, the International Finance Corporation argues that Nigeria must focus on a wider private sector-led growth strategy to create millions of quality jobs for its population.
The Joint Ministerial Monitoring Committee of oil producer club, OPEC will meet virtually today to assess the state of the market. But expert say they do not expect any major decision on crude supply until the two-day meeting scheduled for the 1st of December. Uchenna Minnis, Managing Partner at BluFX Nigeria joins CNBC Africa for more.
The Nigerian Stock Exchange aims to bring the spotlight on the importance of data in mitigating shocks in the capital markets and focus on how identifying consistent patterns can help deliver a better return on investment. Jude Chiemeka, Head of Trading Business Division at the NSE joins CNBC Africa’s Kenneth Igbomor for more.
Nigeria’s headline inflation for the month of September recorded a 49-basis point rise to 13.71 per cent year-on-year, compared to the 13.22 per cent recorded in August. Food inflation increased for the 14th consecutive month to 16.66 per cent year-on-year. Financial Derivatives say Nigeria’s upward inflationary pressures are exerted by a string of factors compounded by the electricity tariff hike, currency weakness and forex scarcity. Funmi Adebowale, Research Analyst at Financial Derivatives joins CNBC Africa for more.
The International Monetary Fund says remittance flows contracted sharply during the early lockdown period but have shown signs of recovery. Although the IMF says the risk of a decline in payments and transfers from migrant workers back to their home countries is very significant, particularly for those in sub-Saharan Africa. Michael Famoroti, Chief Economist at Stears joins CNBC Africa to discuss what this means for Nigeria’s economy.
Nigeria’s President Muhammadu Buhari signed the Nigeria Police Bill, 2020 on the 16th of September. Less than a month after this, Nigerians have taken to the street to demand a reform of the police, as the #ENDSARS protest is seeking an end to police brutality and human rights violations. Kabir Adamu, Security Risk Management Expert & Managing Director of Beacon Consulting joins CNBC Africa for more.
As countries position to take advantage of the opportunities in the Africa Continental Free Trade Area, we will examine Nigeria's preparations and if Africa's largest economy can adequately compete in the automotive industry. Bambo Adebowale, Chairman of the Auto and Allied sector of the Lagos Chamber of Commerce joins CNBC Africa for more.
Nigeria’s manufacturing PMI contracted for the fifth consecutive month in September according to data by the Central Bank of Nigeria. Meanwhile, President Muhammadu Buhari is expected to present the 2021 budget to the National Assembly this week. Emmanuel Odiaka, the Managing Director and CEO of ECOB Capital joins CNBC Africa’s Wole Famurewa for this discussion.