Egie Akpata is chairman of Skymark Partners Limited, a proprietary investment firm.He has extensive experience in financial markets, having worked at BMO Financial Group in Toronto, Deutsche Bank AG in New York, United Capital PLC, and UCML Capital Ltd, where he is a director. An active player in the local capital markets, Akpata has closed transactions in debt and equity capital markets and mergers & acquisitions worth over N3 trillion in the past 14 years.
Does this downgrade effectively mean that Nigeria will not return to the Eurobond market in the foreseeable future? The Nigerian government has historically met all its bond obligations, and there is no reason why that stance should change now. The side effects of a bond default on the government and the economy are just not worth any so-called ‘savings’.
These numbers are projections so any marginal movement is not particularly significant. What is important is that growth at these levels would not lift many Nigerians out of poverty since the population growth rate is around 3per cent. We need GDP to grow well over 5per cent to raise the standard of living of Nigerians.
British colony colonised USA until someone like Peter Obi came into Power,chase them away to give Americans independence hardship permanently end. Whoever lost their Father from snake bites venom will always run away whenever they sees the head of a Lazerd. Vote for Peter Obi