It seems things are turning around for Nigeria. Studies indicate that the economic state of Nigeria is looking better than expected with a stable outlook ahead, though those numbers could potentially unwind once the 2011 presidential elections are underway.
However, Nigerians see otherwise. According to a NOI Poll, 74 percent believed the elections would be conducted fairly and free. This coincides with word from President Goodluck Jonathan and INEC chairman Professor Attahiru Jega that the elections will be credible.
In a Standard and Poor’s Rating Services poll, Nigeria’s fiscal state remained stable with strong external and fiscal balance sheets. “The affirmation reflects our view that Nigeria’s economic performance and external liquidity has been better than we previously expected, although its fiscal performance has been weaker and political risk could heighten in the run-up to the 2011 presidential elections,” said Standard & Poor’s credit analyst Christian Esters. They were rated B+/B within the global scale and ngA+/ A-1 within the Nigeria national scale.
The hesitation regarding Nigeria’s overall stability in relation to the 2011 presidential elections is due mostly to incumbent President Goodluck Jonathan. By running, he will breach the power-sharing agreement made with the People’s Democratic Party. That agreement doesn’t seem to be on the majority’s minds, however, as an NOI Poll from October indicated more than 87 percent believed Jonathan should run again.
Statements made from Jonathan’s organizations retain a positive outlook on the situation, which is mostly likely to the positive numbers NOI Poll polled following their survey last month.
Source: S&P, NOI Polls
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