Making this call at the media presentation of the bank’s monthly economic and financial market outlooks, Head of Research, FSDH Merchant Bank, Mr. Ayo Akinwunmi noted that the Nigerian economy is not expanding enough to lift citizens out of poverty and it therefore it needs to expand faster than it is at the moment”.
He said the economic pressure points identified by the bank include: weak disposable income in the country; high unemployment rate in the country; weak infrastructure development in the economy that may not support the growth ambition of the FG; economic depression in the real estate sector of the Nigerian economy; fragile foreign exchange market and weak revenue generation for the federal government leading to large fiscal deficits.
The bank also called for investment in data generation in the solid mineral sector, adding that government can sell the data to potential investors interested in the sector and this will help to reduce the risk inherent in the sector
Source: Financial Digest (financialdigest.net)
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