Some Nigerians believe that the country is in dire straits and are asking themselves as to how we got to this point on the economic decay curve. We conducted a survey of investors, manufacturers, consumers and analysts to find out their views.
At this month’s LBS Breakfast Session, we broke with the routine and shared with members 5 baffling questions that were common to our respondents in the survey. The questions reveal a thread of frustration, desperation and near hopelessness. However, there are signs of cautious optimism & flickers of hope at the end of a dark tunnel. Some of the questions are
Q1) Official Headline inflation in Nigeria rose to 18.6% in June
What is the true & actual level of inflation in Nigeria?
Is the country suffering from hyper, run-away, spiralling or natural inflation?
Q2) After a sharp drop in the value of the Naira in the parallel market to almost N725/$, it has quickly corrected itself to N640/$ and is now climbing back again to N660.
Some pessimists say that a N1000/$ is around the corner while some say it will continue bouncing around like a yoyo.
Is the Naira jinxed? Or what the h - - - k is going on?
What can I do? Should I go long on the dollar and short on the naira?
Q3) Two years ago, somebody told me that the best hedge against inflation was real estate. Some others said US dollar equities was the real thing, some brave ones said bitcoin and cryptos were stable.
I went into all of these and lost my shirt.
What do I do now, with what I have left?
Should I invest in Nigerian equities or money market instruments?
Should I just buy precious metals or just go to church and my Pastor?
Q4) With all of these economic challenges – falling naira, slow growth, rising inflation, high debt, rising poverty and unemployment, some people say the only solution is getting a PVC and voting. Is this true and
How does getting a PVC solve an unresolvable problem?
In answering these questions at the LBS Breakfast Session, Bismarck Rewane and the FDC Think Tank analyze the current developments in the market, the economy and its impact on your business and strategy.
Kindly Download - The LBS Executive Breakfast Session – August 2022