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Consumers’ Hope Rise as Election Ends

By on April 29, 2011

Few days  after the conclusion of the general elections, Nigerians have begun to anticipate a better economic outlook from the third quarter of 2011.

In an interview with THISDAY in Lagos, a Chartered Accountant, Mr.  Niyi Odewale said the peaceful conduct of the elections, will encourage trade and investment as more investors and business owners will be willing to put their money into the economy.

“A critical appraisal of world economy has shown that the best managed economies are those from countries that get their politics right. As a nation, we can go nowhere if our politics is bad. Now, with the way the election went, it is natural for investors to believe that better days are coming, from the third quarter, things will be picking up positively.”

The Chartered Accountant, who also predicted that the success of the election would assist Nigeria in its bid to create a good image, called on stakeholders to turn around the nation’s economic policies the way INEC was transform to get good result.

Also, a consumer, Mrs Ifeoma Okoro, has predicted that the success of the election would rub on the economy and bring succour to consumers.

Okoro, who described the last two years under President Goodluck Jonathan as transition period, said she was confident the president would now settle down and tackle pressing economic issues.

In a related development, Reuters has reported that Consumer confidence in Canada rose in April as more people felt ready to make a major purchase and their outlook on jobs improved. The report said the Conference Board of Canada said on Wednesday.

The board’s consumer confidence index rose to 87.7 in April from 83.7 last month, above its level of 12 months ago but still below pre-recession levels.

The survey was conducted April 7-17, in the early days of a federal election campaign leading up to the May 2 vote, which is focusing largely on the economy and jobs.

Participants in the survey were, on balance, more optimistic on their current finances, future finances, job creation and major purchases in April.

“While all questions showed improvement, the driver behind the overall increase in consumer confidence was the sharp turnaround in attitudes toward major purchases (such as a new home, vehicle or large appliance),” the board said in a release.

Source : Thisday