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Nairametrics| In a recent publication, titled Nigeria in 2017, SBM an Africa focused market intelligence and communication firm, made some predictions for 2017. While some of the predictions may seem shocking, the current pattern of events seem to back them up. SBM also has a track record of accurate predictions. The most recent being, predicting Donald Trump winning the US presidential elections.

Nairametrics got a copy of the report, and the predictions are as follows.
1. The government will be forced to increase the pump price of petrol in 2017.
2. The FX situation will continue to worsen and the parallel markets will cross N500 to the dollar and close 2017 at a point close to N600 naira to a dollar.
3. The 2017 budget will have a poor execution of capital expenditure as occurred in the 2016 budget.
4. Nigeria will struggle to produce above 2 million barrels of crude oil per day in 2017. The Petroleum Industry Bill (PIB) will not be passed thus hampering investments in the oil sector. Crude oil price gains will be minimal, and the end 2017 about the same levels in 2016.
5. Power tariffs will be increased in 2017, but by a marginal rate to avoid political backlash. The federal government will end up subsidizing the Generating Companies (Gencos). Nigeria will be unable to meet the 10,000 MW mark.
6. The All Share Index will continue to decline in 2017, but a slower rate of about 5%.
7. There will be an increase in foreign investment (Foreign Direct Investment and Foreign Portfolio Investment) in 2017, but not up to 2015 volumes.
8. Food costs will continue to rise in 2017 and Nigeria may resurrect the 1980s regime of essential commodities. There will be increased scarcity of drugs.
9. The pastoral conflict in the middle belt will intensify. The clash between the Islamic Movement of Nigeria (IMN) and the government will evolve to a full scale insurgency in 2017. Kidnapping and armed robbery will also increase.

Onome Ohwovoriole has a degree in Economics and Statistics from the University of Benin and prior to joining Nairametrics in December 2016 as Lead Analyst had stints in Publishing, Automobile Services, Entertainment and Leadership Training. He covers companies in the Nigerian corporate space, especially those listed on the Nigerian Stock Exchange (NSE). He also has a keen interest in new frontiers like Cryptocurrencies and Fintech. In his spare time, he loves to read books on finance, fiction as well as keep up with happenings in the world of international diplomacy. You can contact him via onome.ohwovoriole@nairametrics.com


  1. I can only add and say” how dare you nairametric”.the worst have happened.the main issue in Nigeria economy presently the way apc handled the economy is thatTHEY MSSED AT LEAST 3 OPPORTUNITIES TO RE-FLOAT THE ECONOMY,THEY WERE TIMIDLY IN MANAGING THE ECONOMY.
    A MAN SHOULD ONLY THINK THROUGH HIS SOUL AND EXISTENCE,YOU should not LISTEN TO ANYBODY or you can get deceived or you’re deceiving yourself,to love or hate somebody can be political,YOU SHOULD LISTENS TO YOUR SOUL,YOUR EXISTENCE AND YOUR RIGHT AS A PERSON.This recession was mere correction,the economy will come out stronger,this recession exposes the defects in Nigerian economy,the govt will handle the economy better as,they are more wiser than before,in ex-president johnathan administration,his govt and it’s economic policies created more economic imblanced,and wealth were displaced shamelessly,that is why this recession is legitmate.
    I was hoping that the in-coming govt would have taken measures to arrest the suitiation,my concern is that many Nigerians are going to suffer un-necessarily due to ignorance

  2. LMAO!! The first comment hit the nail on the head… How pessimistic…
    Surely some good will come out of Nigeria this year.. Let’s be a bit optimistic shall we

  3. Tochi and anodebenze both ur comments actuallly indicates the problem with this country nigeria
    People in this so called country decide not to recognise facts and figures,so that they can then tailor their thoughts and feelings appropriately.
    The universe is already settled in terms of its exitence, such that things like the law of Kerman, actions and reactions, cause and effects are already written and engraved into the way the universe operates.
    Where nigeria is now is a result of past thoughts,feelings,and actions,so where we will be in future will be a result of the ways we now start to think, feel and act.
    We have attracted this so called unfortunate incidence by our past and current thoughts and actions, this is true of the law of attraction that operates in the universe. ASK BELIEF AND RECEIVE. We asked for our current situation either consciously or unconsciously by our actions and thoughts, and we have now received same.
    What will get us out of this is a new way of thinking, a new pattern of behaviour, and starting to act with a common goal rather than our current fight and struggle for who gets wat.
    I do not want to come across as a prophet of doom, but 2017 is not going to be a great one for nigeria because we will still continue to reap from what we have sowed.
    This is not going to be MAGIC, its the law of the universe which most of the people in nigeria do not operate in.
    My prayer is for nigerians to now begin to serve god in truth and spirit and thereby obey the basic law of the lord which is to first love ur god ur god and then love ur neighbour as ur self.
    Its not just only by praying, its also by doing the right things, and seek knowledge about how things work in the universe.

  4. 2016,2017,2018 or whatever year is not the only measurement for time and events,its just one of many ways that we measure time and events.
    Its just that we nigerians give too much weight to yearly things,hence our level of fixations on years.
    The question is not 2017 but a question of where we are in our development cycle, and in our so called vision for our nation.
    Try ask a typical nigeria wat the vision for the nation is and they will most likely break it down into years like 2017 the year of great beginning,2015 the year of exploits,2014 year of gladness,2012 year of greater heights.
    We are very good at making colourful declarations without any plan, no long term visions, no concept, no direction, no structure, and no order.


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