Nigeria Banking & Financial Services Q4 2018
Nigeria offers investors a combination of a large banking sector and regionally competitive capital markets. With regardsto the banking sector, Nigeria has a relatively high level of banking penetration in urban areas and large businesses also enjoy a fairlyhigh degree of connectivity to international financial markets. Nevertheless, high interest rates as well as the difficulties that firmsface in obtaining foreign currency and credit at competitive rates are some of the most problematic aspects of doing business in thecountry. In the near term, a brightening economic outlook for 2018 and 2019, thanks to recovering oil prices, will have a positive, ifsmall, impact on the growth of the market's banking and financial services sector, following years of instability in the wake of the oilprice collapse.
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