Ojo Lasisi’s Post

How DFIs Local Investors Can Drive Economic Development in Nigeria 2024. How DFIs and Local Investors Can Drive Economic Development in Nigeria 2024 and Beyond by Dr Kenny Odugbemi Development Finance Institutions (DFIs) tend to look for investments that can drive economic development in a market where there is ease of doing business through digital interface✓Government to local investors ( #DrkennyOdugbemi #Nigeria

fantastic article by Chukwuemeka Uwanaka giving us an indepth analysis and diagnostic of the economic situation in Nigeria and drawing lessons from history! Let me know what you think! #economicmanagement #lessonsfromhistory #leadership #Nigeria

My take on how a review of Nigeria's economic history, suggests a feasible pathway out of its pressing macroeconomic challenges, especially foreign debt obligations, just as economic history of the Great Depression of 1929 guided leaders in the U.S. in managing the Global Financial Crisis of 2007-8: "Nigeria’s economic history suggests the need for an economic team with members that have proven experience of the international economic system, and political economy knowledge of debt relief, so that debt relief can ‘allow Nigerians to breathe’. We look forward to such human resource additions, for enhanced economic management, FDI and positive socioeconomic outcomes." Nigerian Economic Summit Group (NESG) MANUFACTURERS ASSOCIATION OF NIGERIA Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) https://lnkd.in/dEN4CaKq

The prospects of cutting the cost of governance in Nigeria look promising. But will it propel Nigeria's journey to economic prosperity? Backed up by excerpts from experts, I highlighted how the implementation of the Oronsaye report will drive industrial growth in Nigeria. Read the article here: https://lnkd.in/d8hrp2nD

#Repositioning Nigeria: economic development 1. Prosecute Nigeria's assets as an opportunity to attract forex inflows: - Strengths: Leverages Nigeria's natural resources and assets to attract foreign exchange, boosting economic growth. - Weaknesses: Requires effective management and governance to avoid corruption and mismanagement. - Recommendations: Establish a transparent and accountable framework for asset management and forex allocation. 2. Change for consolidation from trade, industries, and investments: - Strengths: Diversifies Nigeria's economy, promoting industrial growth and trade, and reducing dependence on oil. - Weaknesses: Requires significant investment in infrastructure and human capital development. - Recommendations: Develop a comprehensive industrial policy and invest in infrastructure, skills development, and innovation. 3. Secure peace, security, and stability: - Strengths: Essential for attracting foreign investment, promoting economic growth, and ensuring citizen well-being. - Weaknesses: Requires effective governance, security sector reform, and addressing root causes of conflict. - Recommendations: Implement a comprehensive security strategy, address humanitarian crises, and promote inclusive governance. 4. Close infrastructural gaps: - Strengths: Critical for economic growth, job creation, and improved living standards. - Weaknesses: Requires significant investment and effective project management. - Recommendations: Develop a prioritized infrastructure development plan, leveraging public-private partnerships and innovative financing. 5. Develop accountability matrix and carry out major justice reform: - Strengths: Essential for promoting transparency, accountability, and good governance. - Weaknesses: Requires political will, institutional reform, and capacity building. - Recommendations: Establish an independent anti-corruption agency, implement judicial reform, and promote civic engagement and participation. These strategic initiatives can reposition Nigeria for economic growth, stability, and prosperity, but require effective implementation, governance, and accountability to succeed.

Business News. Exclusive: Nigeria's NNPC seeks new oil-backed loan to boost finances Nigeria's NNPC is in talks for another oil-backed loan to boost its finances and allow investment in its business, its chief executive told Reuters, as pressure mounts on the state-backed oil company the economy depends upon. https://lnkd.in/dib6t_Y9 Labour, FG fine-tune talks on minimum wage President of the Trade Union Congress (TUC) Festus Osifo said labour and the Federal Government were in talks before the bill on a new national minimum wage was forwarded to the National Assembly by President Bola Tinubu https://lnkd.in/dKebp2Ta Shippers’ Council Act lacks 21st Century Int’l regulations – ES, NSC The Executive Secretary of the Nigerian Shippers’ Council, Barr. Akuteh Pius Ukeyima has hinted that the Shipper’s Act 1987, needs urgent parliamentary review to fall in line with the 21st-Century International Maritime policies. https://lnkd.in/dDXvSXvK Green Economy’s 198% Return Second Only to Tech in the Past Decade Green economy firms have seen total market returns of 198% over the past decade, making the sector the second-best performing equity segment over the past decade, behind technology, Bloomberg reported on Tuesday, citing a report from London Stock Exchange Group Plc (LSEG).   https://lnkd.in/dqzmk25d African startups get $1bn boost as Timbuktoo launches hub The United Nations Development Programme, African governments and the private sector plan to raise $1bn to kick-start start-up innovation in the continent received a huge boost as the Timbuktoo fintech hub centre was unveiled in Lagos on Tuesday. https://lnkd.in/dpb-EfWC Damilola Hassan Lydia Amobi-Offor Michael Abiodun Thomas Ola Belgore ACIArb #business #greeninvestment #tech #startup #news #growth #economy #nse #stocks #exchange #forex #energy #un #fintech #oil #maritime #trade #loan #financing #investment #investing #funding #policy #equity #finance #innovation #africa #tax #funds

Dear Prof. Ndubuisi Ekekwe To attract FDI and foster economic growth and stability in Nigeria, crucial policy adjustments by the Tinubu led administration should involve the following: 1. Enhancing Legal and Regulatory Frameworks: Simplifying business registration procedures, ensuring robust contract enforcement, and rationalizing the tax system can establish a more favorable environment for investment. 2. Empowering Property Rights: Clarifying land ownership statutes and mitigating herder-farmer conflicts can bolster investor confidence, particularly in the agriculture and real estate sectors. 3. Promoting Economic Diversification: Diversifying away from oil by investing in sectors like agriculture, manufacturing, and services can attract a wider array of investments. 4. Tackling Security Challenges: Implementing effective security strategies to enhance national safety can provide reassurance to investors regarding the security of their investments. 5. Enhancing Infrastructure: Investing in power, transportation, and internet connectivity can lower operational costs and enhance operational efficiency for businesses. 6. Championing Transparency: Establishing transparent and consistent policies while combating corruption can heighten Nigeria's appeal as an investment hub. 7. Boosting Investment Promotion and Facilitation: Enacting policies that actively market Nigeria as an investment hub and offering investor support services can facilitate FDI attraction. 8. Promoting Sustainable Development: Ensuring that investment policies align with sustainable development objectives can draw investors increasingly mindful of environmental and social governance criteria. These policy adjustments, coupled with a stable political environment, can significantly elevate Nigeria's allure for foreign investors, thereby fostering economic growth and stability.

I currently have a pending research proposal regarding FDI particularly on Nigerian economy and how it has been adversely affected. A few of the literature reviews and impact assessments I’ve done recently indicates that poor infrastructural facilities and frequent insecurities are players along with political instability in the declining rate of FDI. Africa as whole suffers from this syndrome but Nigeria is at a more disadvantaged stand. Is not only the multinational companies that are leaving the country, indigenous firms are also struggling in the harsh economiy hence finding it difficult to survive and shutting down completely. In the last one year, about six companies have shut down up until December 2023 and in the last four months, many firms have battled with inflation rising from the incessant FX rate against the declining value of naira. More firms will obviously shut down if nothing is down abruptly to interrupt this menace. The below are list of companies that are not in operation again: Okadabooks shutdown in November DropX closed operations in December Jubilee Syringe Man. Com. ceased operations in December Lazarpay closed down in April after two years of operation 54Gene shutdown in September MABISCO shutdown in September This is a clarion call on government, regulatory bodies, agencies and parent companies to interfere in this trending matter before it breeds more heinous damages

The second quarter of 2024 has been a pivotal period for Nigeria’s economic image on the global stage, particularly concerning foreign portfolio investments (FPI) and foreign direct investments (FDI). A noticeable shift has occurred, with several FPIs and FDIs relocating their bases, which has sparked a conversation about the underlying factors and the implications for Nigeria’s economy. Foreign Direct Investment Trends Nigeria has experienced fluctuations in FDI over the years, with a significant increase in 2021 followed by a decline in 2022. The trend in 2024 suggests a continued challenge in attracting and retaining FDIs. The reasons for this shift are multifaceted, including economic policies, global market dynamics, and internal challenges such as infrastructure and regulatory environments. Read More; https://lnkd.in/dwKH7BU7

Tanzania's rating upgrade by Moody's is a big deal because it sends the message that the country's economy is on the right footing, according to experts. The upgrade from of the Government of Tanzania's long-term issuer ratings to Bl from B2 and a change in the outlook to stable from positive, gives the country a chance to easily and affordably source development financing from international lenders. "Moody's is simply sending a message to the international community - which includes the lenders - that Tanzania is financially disciplined," said economics professor, Semboja Haji. According to Prof Haji, the rating gives Tanzania another reason to easily and affordably source financing for its development endeavours. "It means that since, as a country, we use development funds for the intended pur-pose, then lenders must have faith in us. This is a message to the international community that there is stability, sustainability and predictability in Tanzania's development strategy," he said.