Nigeria’s Needs Political Stability For 2014 Economic Growth, Experts

Nigeria’s Needs Political Stability For 2014 Economic Growth, Experts

According to financial experts, Nigeria needs sustained political stability and early passage of the budget in order to boost the nation’s economic growth in 2014.

They applauded the Federal Government for its efforts thus far in stabilizing the political environment ahead of the 2015 general elections.

The experts made the remarks to the News Agency of Nigeria, reported The Nigerian Bulletin.

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

According to Owoh, the economy will maintain its growth once the nation is stable politically. He also urged the government to pursue friendly investment laws and stable economic policies as this would support growth and development.

In a separate interview, David Adonri, the Chief Executive Officer, Lambeth Trust & Investment Ltd., estimated that the economy and equities market would experience impressive growth in 2014 once the security and political environment were stabilized.

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

He also noted that good regulatory framework and improvement in corporate fundamentals would further enhance investors’ confidence in the nation’s economy.

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