Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / NewStats: 3,195,362 members, 7,957,973 topics. Date: Wednesday, 25 September 2024 at 06:19 AM |
Nairaland Forum / Nairaland / General / Politics / Breaking:- Investors Flee Nigeria - Bloomberg News!!! (5998 Views)
Goodluck Jonathan Delivers A Speech At Bloomberg (Photos) / PMB Lacks The Capacity To Rule Nigeria- BLOOMBERG / Jpmorgan Exit: Nigerian Bonds Face Downgrade As Investors Flee In Droves (2) (3) (4)
Breaking:- Investors Flee Nigeria - Bloomberg News!!! by citizenisb: 5:29pm On Sep 10, 2015 |
JPMorgan Chase & Co.’s decision to exclude Nigeria from its local-currency emerging-market bond indexes tops a year of pain for a nation reeling from a collapse in oil prices, slowing growth and a lack of economic leadership. Nigeria has gone almost full circle from a favored investor destination in Africa three years ago -- because of its status as the continent’s largest crude producer and most populous nation -- to being rebuffed. While most of the weakening sentiment is due to the more than halving in oil prices since last year, a series of missteps by the central bank and President Muhammadu Buhari’s delay in appointing an economic team are adding to the slide. The JPMorgan news is “a clear signal of dampened investor sentiment,” Manji Cheto, vice president of Teneo Intelligence in London, said by phone on Wednesday. “For things to turn around so quickly in three years’ time shows how important it is for governments to recognize that market sentiment is so fickle, and I don’t think the Nigerian government ever really understood this.” “There will be a significant capital outflow,” Seun Olanipekun, an analyst at Investment One Financial Services Ltd., said by phone from Lagos, Nigeria’s commercial capital. “The major consequence will be the loss of confidence by offshore investors in our markets. The [b]fact that the Central Bank of Nigeria had time to take action and they failed to do so [/b]will negatively impact how the monetary authorities are viewed by the international community.” http://www.bloomberg.com/news/articles/2015-09-10/investors-love-affair-with-nigeria-wanes-as-jpmorgan-cuts-bonds 5 Likes |
Re: Breaking:- Investors Flee Nigeria - Bloomberg News!!! by INTROVERT(f): 5:30pm On Sep 10, 2015 |
flee ke |
Re: Breaking:- Investors Flee Nigeria - Bloomberg News!!! by Nobody: 5:31pm On Sep 10, 2015 |
Blame Buhari 21 Likes |
Re: Breaking:- Investors Flee Nigeria - Bloomberg News!!! by citizenisb: 5:32pm On Sep 10, 2015 |
Buhari, who took power on May 29, has further eroded confidence in Nigeria’s economic management by delaying the announcement of his new cabinet. That’s making Emefiele’s job tougher because he is forced to make monetary policy decisions in the absence of a clear fiscal policy, said Teneo’s Cheto. Nigeria’s growth rate averaged 8 percent between 2000 and last year, when it displaced South Africa as Africa’s largest economy following an overhaul of the data that boosted the size of Nigeria’s gross domestic product. The West African nation’s fortunes have waned along with a slide in the price of crude, which accounts for about 90 percent of exports and two-thirds of government revenue. The economy grew at the slowest pace in at least five years in the second quarter, expanding 2.4 percent from a year ago, compared with 4 percent in the first quarter. 13 Likes |
Re: Breaking:- Investors Flee Nigeria - Bloomberg News!!! by Splashme: 5:33pm On Sep 10, 2015 |
There was a country So sad, very sad 25 Likes |
Re: Breaking:- Investors Flee Nigeria - Bloomberg News!!! by 48noble(m): 5:36pm On Sep 10, 2015 |
One chance bus no dey reach motor park... 28 Likes |
Re: Breaking:- Investors Flee Nigeria - Bloomberg News!!! by DTOBS(m): 5:41pm On Sep 10, 2015 |
baba shangi is in control 11 Likes |
Re: Breaking:- Investors Flee Nigeria - Bloomberg News!!! by psucc(m): 5:43pm On Sep 10, 2015 |
When caution is thrown to the wind, we reap. How do you 'change' good luck. 25 Likes |
Re: Breaking:- Investors Flee Nigeria - Bloomberg News!!! by atlwireles: 5:45pm On Sep 10, 2015 |
Anders Faergemann, senior sovereign portfolio manager at PineBridge Investments, said he was surprised that Buhari had not started tackling the country's economic problems more than three months into his tenure. "As an investor it is flabbergasting that the Nigerian authorities have allowed themselves to be put in this situation," he said. 21 Likes 1 Share |
Re: Breaking:- Investors Flee Nigeria - Bloomberg News!!! by stepo707: 5:46pm On Sep 10, 2015 |
like pick race? |
Re: Breaking:- Investors Flee Nigeria - Bloomberg News!!! by Nobody: 5:50pm On Sep 10, 2015 |
Ouch 2 Likes |
Re: Breaking:- Investors Flee Nigeria - Bloomberg News!!! by plaindealer: 5:58pm On Sep 10, 2015 |
They can cool off and keep their investments for now, we need to get our house in order first. Our status as the largest country in Africa and the most powerful economy won't change so they'll be back in a jiffy and that's even if they are actually leaving. No more business as usual. 6 Likes |
Re: Breaking:- Investors Flee Nigeria - Bloomberg News!!! by CSTR2: 6:00pm On Sep 10, 2015 |
Bloomberg has suddenly become a wailing wailer. They lambasted buhari like a true Nigerian. 13 Likes |
Re: Breaking:- Investors Flee Nigeria - Bloomberg News!!! by CSTR2: 6:01pm On Sep 10, 2015 |
plaindealer:Of course, investors will wait for buhari. According to plaindealer. 27 Likes 1 Share |
Re: Breaking:- Investors Flee Nigeria - Bloomberg News!!! by Whynotthetruth(m): 6:05pm On Sep 10, 2015 |
atlwireles: Passingshot & co were celebrating this misfortune, because to them the warning was issued first in January which was under Jonathan While forgetting that uncertainties surrounding election ignited the initial misgiving back then; while ineptitude, ignorance, and lack of economic leadership nailed the coffin for Nigeria now 28 Likes 4 Shares |
Re: Breaking:- Investors Flee Nigeria - Bloomberg News!!! by Kx: 6:06pm On Sep 10, 2015 |
The investors that A. Built world class refineries B. Established car assembly plants like Toyota, Honda etc C. Turned our cocoa into chocolate D.established world class roads and other infrastructures that profited them and d populace? How come the kind of investors that gets attracted to Nigeria are more of short term fund speculators/investors than long term? 8 Likes 2 Shares |
Re: Breaking:- Investors Flee Nigeria - Bloomberg News!!! by drss(m): 6:06pm On Sep 10, 2015 |
Body odour at work!
Well done Buari. 13 Likes |
Re: Breaking:- Investors Flee Nigeria - Bloomberg News!!! by Whynotthetruth(m): 6:08pm On Sep 10, 2015 |
plaindealer: bolded shows the extent of your exposure to issues... 17 Likes 1 Share |
Re: Breaking:- Investors Flee Nigeria - Bloomberg News!!! by Whynotthetruth(m): 6:11pm On Sep 10, 2015 |
Kx: If short term investors can't trust your economy; do you expect the longterm ones to jump in...it doesn't make sense bro... 30 Likes 2 Shares |
Re: Breaking:- Investors Flee Nigeria - Bloomberg News!!! by ahaika23: 6:13pm On Sep 10, 2015 |
ya'll should just shat up. In the fullness of time body language will do the needful. 3 Likes |
Re: Breaking:- Investors Flee Nigeria - Bloomberg News!!! by ERODEDEAST(f): 6:14pm On Sep 10, 2015 |
Bull.ari the ILLITERATE has killed Nigeria #PATAPATA 11 Likes |
Re: Breaking:- Investors Flee Nigeria - Bloomberg News!!! by CSTR2: 6:14pm On Sep 10, 2015 |
Kx:You want someone to spend billions on your cocoa produce, when you have someone like buhari as president? You can't gurantee investors of their short term benefit, and you want them to commit long term. Please, if you see investors that are solely long term investors in the mould of father christmas , kindly let buhari know. 16 Likes 1 Share |
Re: Breaking:- Investors Flee Nigeria - Bloomberg News!!! by VickJames(m): 6:16pm On Sep 10, 2015 |
Any sane man should relocate his business to another country. I fear something worse coming. Nigeria is failing at the moment. 13 Likes |
Re: Breaking:- Investors Flee Nigeria - Bloomberg News!!! by White007(m): 6:16pm On Sep 10, 2015 |
Re: Breaking:- Investors Flee Nigeria - Bloomberg News!!! by atlwireles: 6:18pm On Sep 10, 2015 |
Whynotthetruth: according to the report Nigeria received two warnings, yet, the sai chanters were counting on body luggage. "While many foreign bonds investors have exited the market since JP Morgan warned Nigeria in [b]January and again in June [/b]that it would get kicked out of the index unless conditions improved, stocks investors were now also pondering whether to stay" 7 Likes 1 Share |
Re: Breaking:- Investors Flee Nigeria - Bloomberg News!!! by ISpiksDaTroof: 6:23pm On Sep 10, 2015 |
atlwireles: Relax, when GEJ and his cohorts are put on trial in the coming months you will fully understand why the rest of the world is angry. |
Re: Breaking:- Investors Flee Nigeria - Bloomberg News!!! by ProfessorPeter(m): 6:24pm On Sep 10, 2015 |
Body language terrorist is working. drss: 6 Likes |
Re: Breaking:- Investors Flee Nigeria - Bloomberg News!!! by atlwireles: 6:26pm On Sep 10, 2015 |
ISpiksDaTroof: How is the taxi driving business, your miserable life is still as is., now fuccck off. 17 Likes 1 Share |
Re: Breaking:- Investors Flee Nigeria - Bloomberg News!!! by kaboninc(m): 6:26pm On Sep 10, 2015 |
Kx: Great observation you've got here. 2 Likes |
Re: Breaking:- Investors Flee Nigeria - Bloomberg News!!! by baralatie(m): 6:27pm On Sep 10, 2015 |
ISpiksDaTroof:if this is the PMB economic plan! there is a very,very,very big problem concerning Nigeria's financial outlook! it speaks that PMB administration does not have or understands governance at all. 11 Likes |
Re: Breaking:- Investors Flee Nigeria - Bloomberg News!!! by otr1(m): 6:28pm On Sep 10, 2015 |
The ones leaving need to go to be honest. Their presence never profited any Nigerian in the first place. Before you quote me, please first find out where the profits they make doing business in Nigeria, go to. |
Re: Breaking:- Investors Flee Nigeria - Bloomberg News!!! by GudluckIBB(m): 6:29pm On Sep 10, 2015 |
. |
NLC Cancels Proposed Strike After Serious Consultation With The FG / Oshomole Is Set To Introduce Islam To School In Edo State / Check Out Some Of Bola Tinubu's Notable Investments In Nigeria (photos)
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 39 |