TAG: Africa
While world trade is in the midst of a turbulent period – with US-China relations continuing to deteriorate, the UK disengaging from the EU, and currencies in emerging markets like Turkey and Argentina in turmoil – many countries are seeking to strengthen or foster new relations with Africa.
Although the Nigerian economy has continued to achieve positive growth as it recovers from the negative impacts of the oil price shock and the 2016 recession, more remains to be done to achieve economic diversification.
Although the local economy has continued to recover from the negative impacts of the oil price shock of 2014 and the 2016 recession, more remains to be done to achieve economic diversification. The results of our second Business Barometer: Nigeria CEO Survey show increased confidence among C-suite executives, with 85% expressing positive or very positive expectations of local business conditions in 2018. Nevertheless, the economy remains over-reliant on the export of hydrocarbons, with 82% of interviewees citing a rise in oil prices as the top external event that could impact the Nigerian economy in the short to medium term.