Some capital market operators have listed events that will shape the stock market and the economy in 2022.
Speaking with newsmen on Tuesday in Lagos, they said the market and the economy would be impacted by the Monetary Policy Committee, 2022 budget implementation, consumer price index, among others.
Mr Ambrose Omordion, Chief Operating Officer, InvestData Ltd., said budget implementation, economic data, political activities and fuel subsidy removal would determine activities in the coming year.
He added that OPEC meetings, December year end corporate earnings, interest rate and industrial output would also shape economic activities in 2022.
He also listed agriculture, financial services, telecommunications, manufacturing, industrial goods and healthcare as sectors that would drive the growth of the stock market in 2022, going by their contributions to the GDP.
Omordion added that there would be more opportunities for financial services, especially banks expected to take advantage of the free trade zone agreement.
“The telecommunication companies, especially MTN and Airtel increasing cash flow as a result of ongoing digital economy drive, payment service bank licence and others will boost performance in the new year,” Omordion said.
He explained that removal of fuel subsidy and restructuring of the sector with the PIB in operation would open new business opportunities in the industry.
Omordion, however, said the outlook for the stock market and the economy in 2022 remained mixed and dicey being a pre-election year with expectations of change in the economic policies of the government.