Political instability, crude oil price and production, among others, would determine the fate of Nigeria’s economy, according to the Nigerian Stock Exchange (NSE).
Concise News reports that the NSE Chief Executive Officer Oscar Onyema predicted this on Monday when he also listed the global economy as one of the factors that would shape Nigeria.
According to Onyema, who said this in Lagos State at the 2019 Market Recap/2020 Outlook, the current impasse between the US and Iran, oil supply shocks and progress in trade negotiations between US and China may exert pressure on crude oil in 2020.
Onyema listed infrastructure revival and the promotion of laws to back the business environment as key to a successful economy for the West African nation in the new year.
“Domestically, market sentiments may be buoyed by a steady and stable recovery in the domestic economy, alongside continued sustainability in monetary policy,” he said.
This is as he assured that: “Accordingly, the exchange will continue to advocate for business-friendly economic environment, working in conjunction with both the public and private sectors.”