Business Financial experts tie Nigeria's 2014 economic growth to political stability


Some financial experts on Friday advocated the need for sustained political stability and early passage of the budget to boost the nation's economic growth in 2014.

They commended the Federal Government for its efforts so far in stabilising the political environment ahead of the 2015 general elections.

The experts made the remarks in separate interviews with the News Agency of Nigeria (NAN) in Lagos.

Mr Harrison Owoh, the Managing Director, H J Trust and Investment Ltd, said that political stability and security would be the yardstick for investments in 2014.

According to him, the economy will maintain its growth once the nation is stable.

He urged government to pursue friendly investment laws and stable economic policies to support growth and development.

Mr David Adonri, the Chief Executive Officer, Lambeth Trust & Investment Ltd., predicted that the economy and equities market would experience impressive growth in 2014 once the security and political environment were stabilised.

Adonri said that “global analysts foresee a very active year for the equities market in 2014 as global economies grow in all directions”.

He said that good regulatory framework and improvement in corporate fundamentals would enhance investors' confidence in the nation's economy.

Adonri also identified power, agriculture and construction as the major drivers of the Nigerian economy in 2014.

Corruption is the major problem. Only if corruption is kept at bay will there be any significant improvement in Nigeria's economy.