There are huge potentials yet untapped in organising the informal sectors…
The Managing Director/Chief Executive Officer, Sigma Pensions, Mr. Dave Uduanu, and other experts have hinted that despite adverse macroeconomic indicators, Nigeria remains a viable investment haven.
This was the shared view as finance professionals converged to discuss “Preserving Value in Turbulent Times” at Sigma Pensions business roundtable in Lagos.
Why Nigeria Is Still An Investment Destination
Panelist at the roundtable were the Co-Founder and Managing Director, CardinalStone Capital Advisers, Chief Marketing Officer, Ikeja Electric, Mr. Ugo Obi-Chukwu, Mr. Femi Ogunjimi, Vice President Sahel Group, Ms. Tosin Ojo, Principal at Actis, Ms. Folaseto Akin-Olugbade, and the Director Real Estate, Actis, Ms. Funke Okubadejo.
Speaking on the investment climate in Nigeria, Uduanu said: “Nigeria could be at an inflection point and for us to come out stronger we have to believe in markets, especially with unifying exchange rates.”
He stated that there are huge potentials yet untapped in organising the informal sectors, technology as well using funding assets.
On his part, Ogunjimi said: “I think Nigeria is definitely investable. I have a bit of a contrarian view when it comes to investments. And I think is really usually institutions of turmoil that you create generational wealth because if you have a perfect environment, it’s hard to get any kind of investment when all the problems have been solved. So the question is, how do you look at the problems we have as opportunities? I do agree that those problems create a lot of challenges, especially for us as institutional investors but for people as individual investors, I think there are a lot of opportunities.”
Current Inflation rate in Nigeria: On a year-to-date basis, Nigeria’s inflation rate has increased by over 400 basis points from 15.63% recorded in December 2021 to 19.64% in the review month. This implies that the consumer price index has increased by 12.7% between January and July 2022.