Fitch Ratings Estimates 31% Debt to GDP for Nigeria. Fitch Ratings has projected 30.7% debt to gross domestic product (GDP) for Nigeria in 2020, the data is contained in a special report on Sub-Saharan Africa.
'FG to Use ₦162.5bn Proceed of Sukuk to Finance Road Projects'. The recent ₦150 billion Sukuk issued by the Debt Management Office was 5 times oversubscribe and the proceed will be used for capital projects in the country.
Nigerian Senate Up Oil Price Benchmark For Budget 2020 to $28. In what looks like improved optimism about global prices of oil, the Nigerian Senate on Tuesday raised oil price benchmark for budget 2020. The Senate on Tuesday lifted the price outlook from $25 per barrel oil price benchmark proposed by the executive.
MPR Cut Positive for FG Borrowing Plan, Negative for inflation. Analysts have interpreted the Central Bank of Nigeria’s Monetary Policy Committee decision to cut rate as part of big plan to reduce the nation’s borrowing cost as budget deficits widened.
'Policy Rate Cut Unlikely To Move Yields in Fixed Income Market'. Analysts at Tellimer have said the monetary authority decision to slash the policy rate by 100 basis points is unlikely to move yields in the fixed income market.
Analysts’ $40 Brent Forecast to Hurt Nigeria’s FX receipts. Federal Government’s expectation of improve global prices of oil may be douse as Reuter’s poll of dozens of analysts set target price below $40 a barrel for 2020.
ARM Securities Forecasts Nigeria's GDP to Shrink 1.95%. ARM Securities Limited has estimated that Nigeria’s economy will contract 1.95% in the second quarter of 2020. The assets and resources management firm stated this in a macroeconomic research document obtained by MarketForces.
Oil supply cut will hurt Nigeria’s economy - Fitch Ratings. Fitch, an international rating, agency has stated that reduction in Nigeria’s oil supply into the market will affect growth, and impact on the nation’s external finances.
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Experts forecast FX outflow, say scarcity drives bargain hunting in fixed income market
Remittance inflow to Nigeria, other African countries to shrink in 2020– Analysts