Nigerian Economy News Today

The African Capital Alliance (ACA), a private equity fund manager in western Africa, announced the raising of $200 million from investors in July last year. The third installment of the Capital Alliance Private Equity (CAPE) fund will target important sectors like power, oil and gas, communications and financial services in Nigeria and throughout the sub-Saharan region. The ACA is confident of eventually raising an overall total of $350 million for your fund from aid agencies, international banks and Nigerian institutional investors. The development reflects mounting confidence in Nigeria’s resurgent economy, taking into consideration the country’s fist such fund that began in 1998 by using a capital of just $35 million.

While there is no conclusive data on the actual size of the Nigeria equity market based on naija news, estimates for the of Africa place it over $6 billion in 2000; South Africa, the continent’s largest economy, accounting for half the share. High economic growth fuelled by an enthusiastic reforms programme has seen Nigeria’s growth scale to almost double the figure for developed markets recently. The country’s GDP growth rate in 2006 stood at 5.6%, significantly higher than the united states (3.2%) or perhaps the UK (2.8%)1.

While the private equity industry is still in the infancy here, increasing opportunities to invest in high-growth businesses have succeeded at some level in eroding the typical insistence on public equity and debt. However, there continue being significant risks attending investment in Nigeria because of unhealthy policies, a volatile security situation and massive infrastructure shortfalls. Much of this holds true for your continent at large and explains why it receives simply a fragment of global foreign direct investment (FDI). Out of the estimated $250 billion in global FDI to developing countries in 2001, Africa received only $11 billion2.

Naija News That You Can Make The Most Of

Over the last decade, Nigeria has displayed a stable dedication to reforms. An Investment and Securities Decree was passed into law soon after the return of civilian rule in 1999, opening up the economy to foreign investment. The us government of former president Obasanjo also established your time and money and Securities Tribunal for speedy resolution of disputes arising out of investment deals. More recently, the Securities and Exchange Commission slashed transaction rates for equities from 6.9% to 4.2%. International venture capital investors have demostrated increasing fascination with Nigeria after the liberalisation of numerous important markets like telecommunications, transport, and oil marketing. The point that fresh policies have persuaded at least some investors to neglect the high expense of doing business in Nigeria can be a significant achievement in itself.

These statistic established that the better designed a country is the lower the contribution of agriculture to Gross Domestic Product. Economy diversification is an economic development strategy characterized by increasing the numbers of the revenue base of any economy. The Nigerian economy is a mono-cultural economy based on oil because the main supply of her revenue, it is vital that government should never continue believing that oil gives an endless source of revenue.

As a matter of priority, Nigeria government must encourage the rapid diversification of Nigeria’s economy since this is the sole sustainable strategy to survive the actual environment of global economic uncertainty of international oil price volatility and shocks, unfavourable quota system and depletion.

Undoubtedly, Nigeria like seen on nigerian news is surely an investment haven with countless and lucrative investment opportunities including oil and gas, solid mineral, agriculture, tourism, telecommunication, power and steel, transport, trade processing zone, financial sector, real estate property / property, manufacturing, sport and entertainment, and fashion industry. Investors have a wide array of opportunities to choose from. It is important to keep in mind that the pace of expansion of investment is fantastic and exponential in any of these sectors. Investors are in good thing about presenting their goods and services to already-made market making the most of the population of more than 140 million.

In telecommunication, statistics reveals that mobile phone users in Africa were about 280 million, overtaking United States Of America and Canada making use of their 277 million users within the opening quarter of 2008. With 70 million connections in 2007, the Continent became the fastest growing region on earth, representing a growth of 38 %, in front of the Middle-East (33 percent) as well as the Asia-Pacific (29 per cent).It was also revealed that the fastest growing investing arenas are based in northern and western Africa, representing altogether 63 % of your total connections in the area.

Peter Osalor as seen on news can be a multi-skilled director, chairman of trusts, proprietor and consultant. Peter Osalor is a successful entrepreneur since 1992 as he formed Peter Osalor & Co and that has since grown to a large client base using a turnover of millions. He or she is currently a fellow of the Association of Chartered Certified Accountants (ACCA) and the Institute of Chartered Accountants in Nigeria (ICAN). Peter can be another an affiliate the Chartered Tax Advisors and the Chartered Institute of Taxation in Nigeria (CITN).

He or she is a company mentor for Princess Trust throughout the uk. He is part of the Inter Governmental Committee of ICAN and also a member of BCBC, which represents Black Church Membership of Christians whose responsibility is to make sure that the Christian companies are not left out in the industry opportunities arising from the 2012 Olympics In London.