The Regional Head, Financial Markets in Africa and the Middle East, Standard Chartered Bank, Mark Price and Head, Financial Markets Nigeria & Rates & Credit West Africa, Standard Chartered Bank, Ayodeji Adelagun, in this joint interview highlighted some of the challenges affecting the Nigerian economy and stressed the need for improved fiscal and monetary policy alignment.
Furthermore, I’ve already mentioned that the government is doing a lot to reduce crude oil wastage. The thing that I learnt about that is of interest to me is that wastage and the potential for increased production off-shore is there, and investing in that in a way that means that we can grow off-shore production in Nigeria. And clearly, if you can refine it yourselves, it means that it’s a significant uplift that can be achieved.
In a nutshell, attracting investors is a combination of multiple variables and as soon as that begins to clear up, we can be hopeful that investors will come in. Of course, there is the need for us to continue to give, at the minimum, double-digit interest rates for them to look inwards.
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