Mr. Bismarck Rewane, Chief Executive Officer (CEO) of Financial Derivatives Company, has emphasized the need for key policy changes to drive Nigeria towards economic resilience in 2024. Speaking at an Economic Outlook Session organized by the Lagos Chamber of Commerce and Industry (LCCI), Rewane outlined various factors impacting the nation’s economic landscape.
The event, themed: “Building Economic Resilience in 2024: Strategies for a Sustainable Future,” saw Rewane predict a 3.3 per cent growth for Nigeria in 2024.
He also projected a potential increase in the minimum wage from N30,000 to N50,000. Addressing currency valuation, Rewane noted that the Naira is undervalued by 33.58 per cenr at the parallel market rate and 4.16 per cent at the Nigerian Autonomous Foreign Exchange Market (NAFEM) rate.
Identifying key macroeconomic challenges, Rewane highlighted issues such as suboptimal and non-inclusive growth, increasing income inequality, high poverty and unemployment rates, spiraling inflation, widening fiscal imbalance, and currency pressures.
The CEO stressed that economic resilience could be measured through four indices: macroeconomic stability, good governance, macroeconomic market efficiency, and social development. He outlined inevitable policy changes for 2024, including external and internal factors
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