Gross Domestic Product
Moody’s: Nigeria’s debt affordability will remain weak
Research institute, Moody’s, says Nigeria’s debt affordability will remain weak and the country’s revenue is expected to remain low at around 8 per cent of Gross domestic product (GDP) until 2022. Meanwhile, oil producer club, Organization of the Petroleum Exporting Countries (OPEC) and its allies have agreed to an additional 500,000 barrel supply cut beginning from the first of January. Victor Aluyi, Head of Portfolio Management at Comercio Partners joins CNBC Africa for more.
Nigeria’s Senate passes record N10.59tn 2020 budget
Nigeria’s Senate has passed the record N10.59 trillion 2020 budget. The budget passed by Nigeria's parliament assumes a deficit of 1.52 per cent of the estimated Gross domestic product (GDP) – representing about N2.18 trillion to be financed through foreign and domestic borrowing. Chamberlain Peterside, CEO of Xcellon Capital Advisors joins CNBC Africa to unpack the budget.