BREAKING: Allowing states to generate, transmit, distribute electricity ’ll trigger 3% GDP – Rewane

Managing Director Financial Derivatives Company Limited, Bismarck Rewane has said that allowing states to generate, transmit and distribute will trigger Gross Domestic Products (GDP) output growth by at least 3 per cent…..CONTINUE READING…CONTINUE READING

Rewane who made the statement in Lagos at the Lagos Business School (LBS) Executive breakfast for September said the distribution of electricity by States will bring about GDP growth despite tax drive and subsidy reduction.

He said as long as vandalism continues in the oil industry it will be difficult for the country to increase oil production.

According to him “oil production will not increase as long as oil vandalism continues.

The Niger Delta crisis will remain a deterrent to investors while the commercialization of Nigerian National of Petroleum Corporation (NNPC) will make the outlook for investors more favorable.”

Speaking on “The Global New Disorder and Recolonization of Africa,” he said that the fiscal deficit as a percentage of GDP will remain above four per cent while wage review and productivity gains will increase consumer spending in late 2024.

He stated that the erosion of external reserves as revealed by the audit means a shallow forex market and the naira will fall before recovering in 2024.

He said the $3 billion emergency funding from Afrexim bank will help a partial naira recovery, adding that headline inflation for August is likely to reach 25.5 per cent and the erosion of external reserves buffers as revealed by the audit means a shallow forex market…..CONTINUE READING