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FBN Capital to highlight benefits of GDP rebasing

By BusinessNews Staff on October 17, 2014

FBN Capital Limited, the Investment Banking and Asset Management subsidiary of FBN Holdings Plc, has concluded arrangements to showcase how Nigeria can capitalise on the recent gross domestic products (GDP) rebasing.
In a statement yesterday, the company said the GDP rebasing has propelled Nigeria to the position of the largest economy in Africa, and also shine the spotlight on previously under-represented fast-growing sectors of the economy which the recent rebasing has brought into focus.
Managing Director of FBN Capital, Mr. Kayode Akinkugbe, said the strategy the country can employ to take advantage of the rebasing will be revealed at the 4th edition of its Annual Investor Conference, holding in November this year.
“The theme of this year’s event is “Lifting the lid on emerging Nigeria”, with a focus on the recently rebased GDP of Nigeria, and how investors and stakeholders can tap into the potential that this new data presents.
Over the last three years, he said, the company had explored key aspects of Nigeria’s economic evolution as it transitions from a frontier to an emerging economy.
He said, the need to focus on the GDP rebasing at this time cannot be over emphasised, “Nigeria’s revised GDP for 2013 is currently N80.2 trillion ($509.9 billion). This represents an increase of about 89 per cent over the old GDP estimate for 2013, and the new GDP numbers paint a more realistic picture of the economy by showing that the Nigerian economy is more diversified than previously estimated or reported.”
He added: “Headlining this year’s event are the Minister for Trade and Investment, Mr. Olusegun Aganga; the Minister of Communication Technology, Mrs. Omobola Johnson; the Governor of the Central Bank of Nigeria, Mr. Godwin Emefiele; and the Director General, Nigerian Pension Commission, Mrs. Chinelo Anohu-Amazu, among other speakers and panelists.
“Also billed to speak at the event is Dr. Anil Gupta, a scholar widely regarded as one of the world’s leading experts on strategy, globalisation and entrepreneurship. Gupta will be discussing his ideas on how Nigeria can handle the “too big to ignore” tag which comes with the elevated position the country finds itself in after the rebasing,” he said.
According to him. Gupta is ranked by Thinkers 50 as one of the world’s “most influential living management thinkers” and is one of only three professors in the world to have been elected by his peers as a Lifetime Fellow of all three of the most prestigious bodies in the field–Academy of Management, Strategic Management Society, and Academy of International Business.

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