Business

Nwawudu: Power Privatisation Will Drive Nigeria’s Growth

The Director, CBO Capital Limited, Mr. Bekuochi Nwawudu, has said the successful privatisation of the power sector will stimulate the growth of the Nigerian economy.
 
 
He therefore advised investors to develop investment strategies in mitigating shocks associated with pre-election spending.
Speaking ahead of the firm’s annual investors’ conference scheduled for November 29, 2013 in Lagos, Nwawudu explained that his firm would showcase over $1.5 billion Nigerian projects to foreign and local investors with $5 billion investment financing capacity.
 
 
Commenting on the performance of the Nigerian economy this year, he said: “Typically we have seen significant growth in the Nigeria. The economy is growing strong and the growth is real. There are so many sectors in the economy that are doing very well. The fast moving consumer goods, the power, the telecommunications all have a lot of opportunities.”
 
 
He added: “We have been here for a number years and operating in Nigeria. But the key thing about the election cycle is that it is not really being properly analysed. In Nigeria, they always talk about the fact that pre-election, everything is going to be quiet as politicians are focused on elections and so investments will suffer.
 
 
“So the questions are, how can investors navigate with that uncertainty in mind? What equities can you buy? Should investors focus more on debt instruments? So what we are saying is that next year, as government is going to be busy fixing itself in terms of politics, investors needs to be strategising on the type of investment to go into.” 
 

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