‘Capital markets may experience post-election rebound’

This information was contained in Nigeria Outlook 2015 economy, politics, policy and business overview released by RTC Advisory Services Limited. The report focused on the 2015 general elections and the possible scenarios from the election result.
Analysts at RTC Advisory Services projected four C’s which include continuity, change, coalition and crisis and drew implications for each of the scenarios in terms of policy and economy.
The report describes Nigeria in 2015 as being at “multiple crossroads” a nation at a junction faced simultaneously with political, economic, security and social uncertainty and in which multiple scenarios and possibilities co-exist.
According to the report, “Currency devaluation, higher interest rates, lower forecast GDP growth rate and weak financial markets all suggest a tougher business environment, as Nigerian businesses face challenges sustaining profits and growth.
While all these signal greater macroeconomic uncertainty, the recent postponement of the presidential and governorship elections to March 28 and April 11, 2015 highlights the uncertainty around politics as well,” it stated.
It affirmed that the global economy will grow between 3 per cent and 3.4 per cent in 2015. The Nigerian economy is also projected to grow between 4.8 per cent and 5.5 per cent in 2015.
It concluded that 2015 will be a tough year for Nigeria but current macroeconomic challenges will give policymakers opportunity to redress structural deficiencies in the economy.