PEVCA, Nigeria hosted members and industry participants at its 2019 Q1 Forum. The session’s focus was on reviewing macroeconomic dynamics and outlook and how this impacts on the operating environment for private equity managers and investors. Guest speakers were Dr. Okechukwu Enelamah, Honorable Minister of Industry, Trade and Investment; Ms. Eme Essien, Country Manager IFC Nigeria and Dr. Andrew S. Nevin, Advisory Partner and Chief Economist at PwC West Africa.
Following a presentation by Dr. Andrew Nevin, which highlighted relevant macro indicators and trends, a rich dialogue ensued around the challenges of managers having to weigh investment decisions against relatively volatile economic cycles and uncertain policy environment. There was uniform acknowledgment of the critical impact an enabling environment has on business confidence and subsequently domestic investments/FDI with the private sector having more to lose if the attractiveneness of the Nigerian market continues on a decline. The private sector was encouraged to passionately push through on establishing partnerships with relevant government agencies on negotiated areas of benefit to both parties – partnerships or engagements that also result in policy reforms where needed. In engaging government and or policy influencers the industry participants must come together to accomplish this on the back of common interests under an umbrella body such as PEVCA.