First Bank of Nigeria Limited is set to hold its ‘Nigerian Economic Outlook Webinar’ which is aimed at reflecting on national and global economic trends that shaped 2021, and predicting the economic outlook of 2022.
According to a statement from the bank, the virtual event themed ‘A rearview look at 2021, lessons learnt – Outlook 2022’ would set the tone for the year by providing an opportunity for participants to learn directly from economic experts.
With Nigeria’s economy projected to grow by 2.7 per cent in 2022 as predicted by the International Monetary Fund, based on an expected recovery in crude oil prices and production, Nigeria will see economic activities normalising.
“Key economic activities to watch out for in 2022 include the global market trends, removal of subsidies, and floatation of the naira. However, recoveries in the oil sector and maximisation of the e-Naira could help keep the parallel market in check”, the statement reads.
Managing Director/Chief Executive Officer of Financial Derivatives Company Limited, Bismarck Rewane is the keynote speaker of the event while other speakers include the Executive Director, Treasury and International Banking, First Bank of Nigeria, Ini Ebong.
According to the Group Head, Marketing and Corporate Communications of FirstBank, Ms Folake Ani-Mumuney, the bank’s commitment to nation-building is anchored partly on its thought leadership role designed to relentlessly drive growth and scale for all through engagements that showcase versatile subject matter experts endowed with expertise, knowledge and valuable insights.
She noted that the webinar provides a platform for cross fertilisation of ideas and opportunities to learn and grow.
This webinar essential as it is coming at a time the World Bank projected the global growth to decelerate markedly from 5.5 percent in 2021 to 4.1 percent in 2022 and 3.2 percent in 2023, no thanks to the rapid spread of the Omicron variant which is one of the major indices.
Recall that Investors King, in its report on Wednesday, revealed that growth is expected to drop from 6.3 percent in 2021 to 4.6 percent in 2022 and 4.4 percent in emerging and developing economies in 2023. Also, for Sub-Saharan Africa, growth is forecast to accelerate slightly to 3.6% in 2022 and rise further to 3.8% in 2023 while growth in advanced economies is expected to decline from 5 percent in 2021 to 3.8 percent in 2022 and 2.3 percent in 2023.
