Africa from the inside
Spotlight on Nigeria: Government tightens regulatory reins
A Deloitte view on topical issues, changes, developments in Africa and what these would mean for our clients with interests in these jurisdictions
The global oversupply of petroleum products and the slowdown of the global economy has caught many oil-producing countries but also some investors by surprise. As Africa’s largest oil producer, Nigeria’s growth outlook and fiscal position have been implicated negatively by ‘half-priced’ oil. In its most recent forecast for Nigeria, the IMF cut the country’s 2015 GDP growth rate from 4.5% to 4%, in contrast to actual growth of 6.3% in 2014.