Sovereign Analysis /
Nigeria

Nigeria: Stagflation will continue without major reforms

  • Negative per-capita growth and double-digit inflation plague economy, and are unlikely to reverse

  • Marginal progress on reform is not enough to right the ship, with FX liberalisation especially necessary but unlikely

  • Likely to get worse before it gets better but default risk remains low; Retain Sell on T-bills and Hold on eurobonds

Nigeria: Stagflation will continue without major reforms
Patrick Curran
Tellimer Research
26 July 2021
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