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Breakingviews: Nigeria needs good luck

Thursday, May 23, 2013 - 03:02

May 23 - Reynolds Holding and Martin Hutchinson discuss how President Goodluck Jonathan can keep the nation humming at more than 6 percent growth.

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Plus good luck Jonathan leader of Nigeria is going to need some good luck if he's gonna continue that African nations. More than 6% growth. Others have had wins here I mean it's a very poor nation. It's not a transparent nation by any means and it's facing an insurgency and some of the northern provinces -- is that right why should we be optimistic about this countries across. Well club forty years it was a shambles because they had oil and that made everything too easy the government just embezzled although it is always a problem -- -- problem. But -- the last ten years they've done all the back to pocket because. Communications mean that would -- selfless and wanna look guys in the -- AG's can actually do stuff and -- connected to the world economy -- -- and Angela and say the result is that the monologue column is doing -- -- -- -- to call them the only problem is about. Flat and on our economy's doing nearly eight -- they've also developed president of standard sovereign fund they're doing some things for the banks. Yes they have a banking crisis that's selling all the banks that they have to nationalize them right making thirteen billion dollars out of that this year so lots of good stops. You know but meanwhile of course he takes a long time for a the good stops and get out to solvency and I am -- is a threat of this insurgency with -- title game four yellows and it's getting us they've lost to a thousand lives fall which is an advocate become pretty serious you know. And they've declared a state of emergency last week they'd still evolving cities in the east stumbled so it's pretty remote area. You've got to Islamist guerrillas obviously -- with some international support. You know trying to take down Nigeria's economy and their feeding off the poverty and the answer is yes that's iPad -- it's a lot to be a guy living among others please -- you know -- and now number one of the government's conduct themselves rise one of the things that I think people may be familiar with them have heard about it and not the not too distant past. Is the piracy and in Nigeria with Somalia it was a sign of some horrendous problems of piracy. That's not a big problem anymore is that right what they've got -- down the government's -- better control and it has tracked ten years animal. Amigo blog telephones as good as Nigeria's -- you know -- -- You know nothing's perfect but the -- level. We don't need to be perfect to get to GDP per capita from 15100 to 3009. And in the context of its neighbors and the rest of Africa. Where does that wears it well it's a place you'd certainly want to invest of course is a lot of easy money around the amendment it's obvious affront to him. But -- some good opportunities -- They get better be very careful they lucky. With this insurgency because it could -- turn into a big problem well good luck is the word from Nigeria will be watching that closely in the -- -- stay tuned for more breaking news tomorrow.