Home News Experts Reveal Factors That’ll Shape Nigeria’s Economy in 2022
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Experts Reveal Factors That’ll Shape Nigeria’s Economy in 2022

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A group of capital market owners has rolled out events that will shape the stock market as well as the economy in 2022.

They made this known to the News Agency of Nigeria on Tuesday in Lagos, saying the market and as well as the country’s economy would be impacted by the Monetary Policy Committee, 2022 budget implementation, consumer price index, among others.

In the opinion of the Chief Operating Officer Invest Data Ltd Mr. Ambrose Omordon, budget implementation, economic data, political activities, and fuel subsidy removal would define activities in the coming year.

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Omordion also explained the importance of OPEC meetings, December year-end corporate earnings, interest rate, and industrial output in shaping the nation’s economy in 2022.

He added that OPEC meetings, December year-end corporate earnings, interest rate, and industrial output would also shape economic activities in 2022.

He further listed agriculture, financial services, telecommunications, manufacturing, industrial goods, and healthcare as sectors that are responsible for driving a nation’s growth in the stock market in 2022 as his contribution to the GDP

He revealed how more opportunities will come to the financial services even banks will be advantaged of the free trade zone agreement.

Omordion added that there would be more opportunities for financial services, especially banks expected to take advantage of the free trade zone agreement.

“The telecommunication companies, especially MTNN and Airtel increasing cash flow as a result of ongoing digital economy drive, payment service bank license and others will boost performance in the new year,” Omordion said.

He explained how the removal of fuel subsidies and restructuring of the sector with the PIB in operation would help open new business opportunities in the industry.

Omordion, however, said the outlook for the stock market and the economy in 2022 remained mixed and dicey being a pre-election year with expectations of change in the economic policies of the government.

Also speaking, Mr. Rotimi Olubi, the Managing Director, Morgan Capital Securities Ltd., added the performance of the stock market in 2022 would be defined by several factors.

Olubi said the introduction of IFRS 17 for insurance companies would be an addition to reporting insurance companies’ contracts.

He added that vast deregulation of the oil and gas sector would lead to an increase in the pump price of petrol and the ripple effect would lead to inflation.

He also stated that recapitalization of insurance and pension firms will result in a lot of consolidations and gains as well as possible hostile takeovers in 2022.

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Written by
Tare Magbei -

With more than five years of covering different topics, Tare Magbei is a versatile journalist.

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