NGX | Flooding incidences and impact on the economy and FMCG companies

    Over 15 states in Nigeria are battling excessive flooding, with National Emergency Management Agency (NEMA) estimating that more than 600,000 persons have been displaced while over 637,000 hectares of cropland are submerged. The crisis has been attributed to the release of excess water from the Lagdo Dam in Cameroon, which cascaded into Nigeria through River Benue and its tributaries, thereby inundating communities. In our view, the ongoing challenge Is a downside risk to agric GDP growth and upside risk to inflation.

    In this report, we assessed the impact of the flooding on agric GDP and inflation, as well as the likely vulnerability of FMCGs.


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    CardinalStone is a full service investment banking firm with a vision to build a world class investment banking firm of African origin; operating out of Lagos, Nigeria. The firm was incorporated in April 2008 and began operations in June 2008. CardinalStone is duly registered with the Securities & Exchange Commission in Nigeria to carry on business as an Issuing House, Fund Manager and Broker/Dealer The Firm's activities are carried out across five business units: Asset Management, Investment Banking, Private Equity, Securities Trading and the Business Support Group.
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