Olajide Oyadeyi’s Post

Publication Alert! Our research explores the short-run dynamics between macro-financial drivers and Nigeria's bond market, shedding light on key factors that shape its development. Key Findings: Negative Impacts: Fiscal deficits, inflation, and GDP per capita growth hinder bond market growth. Positive Impacts: Domestic debt and stock market development drive market performance. Insights: Banking size and monetary policy rate had insignificant effects, and no long-run relationship was found between drivers and market performance. Policy Recommendations: 1️⃣ Redirect public spending to projects that stimulate economic growth. 2️⃣ Promote financial inclusion to enhance the domestic debt market. 3️⃣ Ensure macroeconomic stability to build investor confidence. 4️⃣ Foster stronger integration between bond and stock markets. This research underscores the need for dynamic fiscal discipline and structural reforms to unlock the potential of Nigeria's bond market as a driver of economic growth. You can read the full article here: https://lnkd.in/geVeg4bF #Finance #Macroeconomics #BondMarket #Nigeria #EconomicGrowth #Research

I recently had the opportunity to present my seminar paper on the intriguing subject of financial deepening, lending rates, and aggregate output in Nigeria. Delving into the intricacies of Nigeria's financial landscape, my research uncovered some key findings that shed light on the economic dynamics and provide valuable insights for policymakers and stakeholders alike.   Key Findings: 1. Using different financial deepening indicators, my research reveals that the state of financial deepening in Nigeria lags behind that of many emerging economies. Despite considerable progress in recent years, Nigeria's financial system still has untapped potential compared to its peers. 2. Despite the low state of financial deepening, financial deepening has a positive effect on aggregate output. Financial deepening also has a reducing effect on borrowing costs. This underscored the immense potential of financial deepening to contribute to output growth and foster a conducive environment for economic expansion. By facilitating greater access to financial services and reducing borrowing costs, an enhanced financial system can spur investment, entrepreneurship, and ultimately, economic prosperity. 3. An increase in lending rate has a minimal negative effect on aggregate output. Aggregate output in Nigeria exhibits an inelastic response to changes in lending rates.   Recommendations: 1. There exist significant untapped opportunities in the business of financial intermediation in Nigeria. Policymakers and industry stakeholders should focus on fostering a conducive regulatory environment, promoting innovation, and enhancing financial literacy to harness these unrealized gains.   2. Since output growth is less elastic to changes in lending rate, raising the monetary policy rate to fight inflation and exchange rate depreciation is a relatively safe policy option because although it will lead to an increase in lending rate, losses in output will be minimal.   Implications: The implications of these findings and recommendations are profound. Financial deepening may not be achieved by relying totally on market forces to produce optimal outcomes. A concerted effort is required to heighten the supply and demand for financial services. The seminar paper offers valuable insights into the nexus between financial deepening, lending rates, and aggregate output in Nigeria. It is my sincere hope that these findings will inform policy discussions, inspire further research, and contribute to the ongoing efforts to build a stronger, more inclusive financial system. #FinancialDeepening #LendingRates #OutputGrowth #NigeriaEconomy #PolicyRecommendations #ResearchInsights

Day 2 @ NES 65th Annual Conference Lecture 1: Monetary-Fiscal Coordination in Price and Exchange Rate Stability Economists have long advocated for the alignment of monetary and fiscal policies to achieve Nigeria's macroeconomic goals, particularly in terms of price and exchange rate stability. However, due to institutional irregularities and the political motivations behind many fiscal policies, achieving this alignment has proven challenging. Consequently, the Central Bank of Nigeria (CBN) has had to expand its jurisdiction to encompass aspects of fiscal policy. The hypothesis that price and exchange rate stability can be managed solely by the CBN is flawed. Inflation, particularly in Nigeria, is both a monetary and fiscal phenomenon. This dual nature of inflation necessitates a coordinated approach between monetary and fiscal policies. Recently proposed fiscal policy reforms, such as implementing zero tax on food items, aim to address price instability. Food inflation, which constitutes a significant portion of the Consumer Price Index (CPI), illustrates the need for a cohesive strategy. Although this reform is a short-term solution, it demonstrates the necessary collaboration between Nigeria’s fiscal and monetary policies to achieve the desired macroeconomic objectives. Lecture 2: The Renewed Hope Agenda: 15 Months After: What have we learnt and the Pathway for the future. A careful analysis of this agenda was done and it was concluded that its actualized objective it way behind its project objective. #NES65thAnnualConference #RenewedHopeAgenda #FiscalMonetaryPolicyCoordination #Nigeria #Insight

🚀 FINANCIAL LIBERALIZATION AND ECONOMIC GROWTH NEXUS: AN EMPIRICAL EVIDENCE OF NIGERIA [1970 – 2020]. Research paper by Ogwudire, Chinonso Emmanuel, Chris-Ejiogu Uzoamaka Gloria and Prof A.B.C Akujuobi Federal University of Technology, Owerri, Nigeria 📊 I am thrilled to share my latest research examining the intricate relationship between financial liberalization and economic growth in Nigeria over the past five decades. 🔍 Keywords: Financial liberalization, Exchange rate, Inflation rate, Gross domestic product This study delves into how policy shifts and economic reforms have shaped Nigeria's economic landscape, providing valuable insights into the impacts of financial liberalization on key economic indicators. 🌍 Understanding these dynamics is crucial for policymakers, economists, and stakeholders aiming to foster sustainable economic growth in developing economies. Stay tuned for more updates and detailed findings! Read the full paper here: https://lnkd.in/g5CxEkkC #FinancialLiberalization #EconomicGrowth #Nigeria #EmpiricalResearch #Economics #GDP #ExchangeRate #Inflation

What’s the macro outlook for the continent? Hear from your international macro experts.

I’m excited to dive into "Public Policy and Agent Interests: Perspectives from the Emerging World" edited by the renowned Shamsuddeen Usman. This timely publication brings together expert insights from around the globe, such as Temitope Laniran Charlie Robertson Andrew S Nevin, PhD Oyebode Oyetunde, Ph.D. Francis Osuyah Olufemi Taiwo Dr. Sarah Alade shedding light on the complex relationships between public policy, agent interests, and economic growth in emerging economies like Nigeria. As someone passionate about public policy and its impact on our communities, I'm looking forward to learning from Dr. Usman's wealth of experience as a former Minister of Finance, Minister of National Planning, and Deputy Governor of the Central Bank of Nigeria. Thank you Maryam Buba for this priceless gift🙏🏼 Key Takeaways I'm Expecting: *Principal-Agent Relationship-Understanding the dynamics between public servants and the public they serve *Emerging Economies-Insights into the unique challenges and opportunities facing countries like Nigeria *Public Policy Formulation-Expert advice on designing and implementing effective policies If you're interested in public policy, economic development, or leadership, this book is a must-read. Join me in exploring these critical issues and let's discuss our thoughts! #PublicPolicy #EconomicDevelopment #Leadership #BookClub #EmergingEconomies

As we approach 2025, the economic and investment landscape of Nigeria is a topic of keen interest. Investors, economists, and policy makers are all eager to understand the future trends that will shape the country's future. Against this backdrop, we are delighted to announce the 3rd edition of our annual Nigeria Economic Breakfast Meeting scheduled to be held on the 23rd of January, 2025 in Lagos. #NEBM25 will convene an important meeting place for industry executives, policy makers, project financiers, investors, development partners, providing them with an opportunity to access key insights, intelligence and data as it relates to the state of Nigeria's economic and investment landscape, how it affects their business and how to navigate the situation. Industry leaders will converge to analyse and predict what key indicators will drive the growth of Nigeria's economic and investment fortune, with key discussions and debate across policy and institutional choices that will spur the country's development. We have assembled some of the country's leading and brightest minds who will share their insights and expertise at this important gathering. These will include; JUDE CHIEMEKA, CEO, Nigerian Exchange Group (NGX Group), Hon Folashade Ambrose-Medebem, Commissioner for Commerce, Cooperatives, Trade & Investment, Lagos State Government, Farooq Oreagba, Managing Director, NG Clearing Limited, Joshua Egba, Country Representative (West Africa) U.S. Trade and Development Agency (USTDA), and Niyi Yusuf, Chairman, Nigerian Economic Summit Group (NESG), Managing Partner, Verraki Africa Stay ahead of Nigeria's economy, don't miss out on this incredible opportunity to network with industry leaders, gain valuable insights and be a conversations, targeted at shaping the future of Nigeria's economic and investment landscape. Register for your early bird pass via https://lnkd.in/d8tD2fgw #Investments #Policy #Economy #Governance #Regulation #Finance #SustainableGrowth #Reforms #FDI #MarketStrategy

#Why Nigeria Will Remain Poor: A Capitalist Nation's Quagmire Introduction: Nigeria's financial system is plagued by numerous challenges that have hindered its economic growth and prosperity. As a capitalist nation, Nigeria's reliance on oil exports, limited financial inclusion, high inflation, and weak regulatory framework have created a perfect storm of poverty and underdevelopment. Challenges Facing Nigeria's Financial System: - Dependence on Oil Exports: Nigeria's reliance on oil exports makes it vulnerable to fluctuations in global oil prices, which can have a devastating impact on the economy. - Limited Financial Inclusion: Many Nigerians lack access to formal financial services, which limits their ability to save, invest, and access credit. - High Inflation: Nigeria has experienced high inflation rates in recent years, which can erode the purchasing power of consumers and reduce the value of savings. - Foreign Exchange Challenges: Nigeria has faced challenges in managing its foreign exchange reserves, which can impact the availability of foreign currency for imports and investments. Solution: To address these challenges, we propose a shift in focus towards capital development and evolution. This includes creating systems that stimulate capital development, such as investing in education, infrastructure, and innovation. We also propose that policymakers prioritize capital development over money development and create policies that support the growth of capital markets. Conclusion: Nigeria's financial system is complex and multifaceted, with numerous challenges that have hindered its economic growth and prosperity. However, by prioritizing capital development and evolution, We shall create a more prosperous and equitable society for all. But we need to encourage policymakers to focus on capital development and evolution and create policies that support the growth of capital markets.

Our GCEO, Dr. Toyin F Sanni , joined financial experts Bismark Rewane and Gregory Kronsten on CNBC Africa to analyse and shed light on the latest Nigeria Monetary Policy Committee (MPC) decisions. Their discussion offered critical insights on how these policies will shape the economic landscape and what it means for businesses and individuals moving forward. Click the link https://lnkd.in/ddrEGiQR for more highlights from the conversation, as we explore the far-reaching impacts of these decisions on investment, inflation, and growth in Nigeria’s dynamic economy. #emergingafrica #CNBCAfrica #Nigeria #Africa #Economy

🌍 Invitation to the 2024 Vanguard Newspaper Economic Discourse Dear Friends and Colleagues, I am honoured to be the Keynote Speaker at the upcoming 2024 Vanguard Newspaper Economic Discourse, themed *"Reforms in an Era of Global Uncertainties: Whither Nigeria?"* Join me on **May 23rd, 2024, 9AM, at the Civic Centre, Victoria Island, Lagos, Nigeria, for an insightful frank discussion on the "mixed effects of current reforms and the path forward for Nigeria". In my address, I will explore how, despite the challenges, Nigeria can rise to become again the leading economy in Africa and a significant global player. Key to this transformation is enhanced collaboration between the public and private sectors, the implementation of supportive government policies for the business community, currency stabilization, emphasis on trade facilitation, reduced taxation, policy consistency, and active stakeholder engagement before rolling out or cancelling any policy or law. I am extending a special invitation to you to be my guest at this significant event. Together, we can address these challenges and opportunities in a frank and constructive atmosphere. Let's unite in our shared goal of driving Nigeria to new heights. Your presence and participation would be greatly valued. Warm regards, Hon.Dele Kelvin Oye National President Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) [email protected] #Vanguard #naccima #Nigeria #easeofdoingbusiness #trade #nipc #exhibitions #acci #wto #cipe #agriculture #traders #deik #statesman #hyperinflationary #cbn #customs #nass #msme #nasme #nassi #man #neca