By: highcelebritysquard
FBNQuest Research, the investment banking and asset management subsidiary of FBN Holdings Plc, has projected modest gains for equities amid higher debt yields in the Nigerian economy in 2022.
The company said in a statement that the projections were released at a webinar held to elaborate on its 2022 outlook report published in January 2022.
It said, “With regards to asset values, FBNQuest forecasts another positive year for equities in 2022, projecting gains between five and 10 per cent.
“A number of banks, as well as non-financial stocks, are expected to outperform in 2022. These include Access Bank, Zenith Bank, GT Bank, Seplat, Presco, and MTN Nigeria.”
The research also projected that Nigeria’s economy will grow by 2.7 per cent this year.
According to FBNQuest, as the second term of the President, Major General Muhammadu Buhari (retd.), winds down, the achievements of the administration would have been mixed.
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It noted the passage of the Petroleum Industry Act, the 2020 and 2021 Finance Acts, and some infrastructure development as notable achievements.
Ahead of the 2023 general elections, FBNQuest Research anticipated that the withdrawal of monetary accommodation and other tightening measures by the US Federal Reserve and other advanced economy central banks might weaken emerging and frontier market currencies.
