LAGOS, Nigeria, Aug. 13, 2014 (GLOBE NEWSWIRE) -- via PRWEB - FBN Capital , Africa's leading capital and investment firm and subsidiary of FBN Holding Plc (traded under the ticker FBHN:NL), has released a new Economic Research paper for June 2014. A copy of the report can be found here. In it FBN sees that Nigeria's GDP has grown in 2014 at 7.1%. This growth has mainly come on the back of strong non-oil economy.
While FBN Capital sees that the Federal Government of Nigeria's (FGN) agenda is "stuttering in the strength of vested interests," it sees that progress is greatest where those interests are weakest. In particular industries such as agriculture and power have seen and are predicted to see continued progress.
And while the yield of FGN bonds have settled into a range of 12%-13%, and it is likely that the rate of yield will continue downward, FBN Capital is confident that they are still "among the highest anywhere for local markets of comparable liquidity."
Given all these factors, and while Nigeria is not "an island protected from global headwinds," FBN Capital is optimistic about the future. According to the Research Paper, FBN Capital sees growth in 2015 at 7.0%.
According to Gregory Kronsten, "Non-oil growth has averaged 8.0% y/y in the past eight quarters. Household consumption has driven this growth. Its evidence is abundant: the boom in mobile telephony, the beginnings of mobile banking and e-commerce, the rapid expansion of the financial sector (despite the twin bailouts of 2009), infrastructure spending by the more professional state governments such as Lagos, residential development, hotel building in the main centres and the construction of shopping malls''
About FBN Capital
FBN Capital ( http://www.fbncapital.com/ ) provides strategic advice, arranges finances, administers assets, manages funds, sells investment products and invests alongside clients. FBN Capital is Africa's leading Capital and investment organization, a subsidiary of FBN Holdings Plc.
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