Some interesting perspectives I thought to share with you. Please note these are not my thoughts, but culled
\nfrom different view points and they make a heck of a lot of sense.<\/p>\n
For once, both optimists and pessimist agree on one thing: 2009 would probably be one of the most challenging times in living history for most people in Nigeria and the world.<\/p>\n
Even those who predicted that Nigeria<\/span> was too detached from the global economic crisis<\/span> have all reversed Has the Nigerian stock market<\/strong> reached its bottom<\/strong>? Should I average down by investing at these low prices? Is there a real estate bubble<\/span><\/strong>? Will Naira depreciate<\/strong> further? What else can I invest<\/strong> in? Will I keep my job<\/strong> in 2009?<\/p>\n Will there be a banking crisis or consolidation? How best can I survive in 2009? This is an attempt to answer all these questions and more.<\/p>\n Many experts on the Nigerian economy agree on the following predictions:<\/p>\n Foreign exchange rate<\/span> will depreciate further to between N150 to N175 and maybe closer to N200 per US$1 There would be huge swings in share prices (upwards and downward) with an average slow trend upwards; Generally, all you need in 2009 are the 3 C’s: CASH, COURAGE<\/strong> and CALM<\/strong>.<\/p>\n CASH<\/strong> to survive and take advantage of all the golden opportunities which will arise.<\/p>\n COURAGE<\/strong> to aggressively implement all the highlighted recommendations\/ Tips; and<\/p>\n CALM<\/strong> to remain steadfast.<\/p>\n What do you think? fill in your comments below.<\/p>\n","protected":false},"excerpt":{"rendered":" Some interesting perspectives I thought to share with you. Please note these are not my thoughts, but culled from different view points and they make a heck of a lot of sense. For once, both optimists and pessimist agree on<\/p>\n
\ntheir positions. Warren Buffet (arguably the greatest investor of our time) says: The secret to making money is to be cautious when everyone is greedy and to be greedy when everyone is cautious. But a lot of questions are to be answered:<\/p>\n
\nby mid to year end 2009; Nigeria’s foreign reserves may have halved by 2009 ending, from about US$52billion in December 2008 ($63bn in September 08); Prime lending rates<\/span> would range between 20% and 25% depending on CBN’s willingness to print money and the mode of financing our N1 trillion deficit budget;
\nCrude Oil prices<\/span> would range between $25 to $55 per barrel depending on weather conditions and events in the Middle East; Real Estate prices would adjust downwards by between 10% to 50% (especially in Ikoyi, Lekki and Victoria Island); Nigeria ‘s cocoa exports would drop significantly;<\/p>\n
\nUnemployment would rise (especially amongst bankers); Consumer confidence would drop and crime rate\u00a0 would rise; and the Foreign exchange<\/span> ‘black’ market would re-emerge and trade at a premium of between 5% to 10% above the official exchange rate.<\/p>\n