by Ibrahim Faruk
The past few weeks has seen increased interaction between Nigeria and the Cable News Network (CNN).
During the World Economic Forum in Davos, Nigeria’s President Goodluck Jonathan was interviewed by CNN’s Christiane Amanpour where he spoke on a wide range of issues revolving around his transformation agenda including power reforms and security.
As a follow-up to the interview, CNN held an Open Mic session in Africa and Christiane Amanpour read some tweets from Nigeria’s based on the Presidents recommendation that she should ask the people on the streets of Lagos and Abuja about the reform in the power sector.
The responses to the Presidents interview and the tweets sampled haven’t been complimentary.
Now, CNN Money has mentioned Nigeria as one of the world’s 5 hottest stock markets in its ‘Best Investments in the world’ report.
The report stated that, “Africa’s second-largest economy has continued to grow at a rapid pace this year, with economic growth clocking in upwards of 6% each quarter in 2012.”
Affirming that the reforms in the banking sector has been paying dividends, CNN Money reports, “In fact, Nigeria’s banks have been among the best performers on the country’s stock exchange. First Bank of Nigeria is up a whopping 70%, while Zenith Bank and Guaranty Trust Bank have both gained about 40% this year.”
“Nigeria is also starting to attract more attention from foreign investors, which analysts expect will only grow with the country’s recent entry into Barclays’ and JPMorgan’s benchmark emerging markets bond indices” is also an indication of increased Foreign Direct Investment in the country.
The report can be read here