Should Nigeria Be Worried About Trump’s America-First Trade Policies?
The answer is NO.
Granted, Nigeria is an oil dependent economy, but America has since ceased to be one of the major buyers of Nigeria’s crude.
More so, there is the fact that the discovery of shale oil impacted global oil prices.
However, the shale oil producers have also discovered that they need stability in the energy market to be profitable, which accounts for the stability we have seen in the global oil prices market recently.
“So, we feel that the impact of US economy growth on Nigeria will be minimal,” said Ayodeji Eboh, who is the Managing Director of Afrinvest Securities Limited.
According to Eboh, “With the return and stability that the Nigerian economy is currently enjoying, we expect that if there are no self-inflicted injuries, Nigeria would be a preferable investment destination.”
Part of the things expected of the government to make this a reality this year are policies that will attract private investments into Nigeria and by providing confidence for investors.
“We expect that the Public Private Partnership, PPP law should be reviewed as soon as possible. We have not seen most PPP arrangement in Nigeria work out in the recent past and government should be bothered,” noted Eboh.
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He further pointed out that, “Government cannot drive this economy, even with the 8.6 trillion-naira budget. The infrastructure, housing deficits is significant.
“And if government really wants to drive this economy, the contribution of the private sector is critical but there needs to be confidence.”
He added: “The private investors need to be assured that there will be no instability. If there is no confidence, people will just come in to take advantage of the economy in form of foreign portfolio investment.”
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