It is yet another season, a season of roses, lemonades, grapes and jingle bells. Thus let me begin by congratulating us and wishing us good life, prosperity and the best of everything in this new year and beyond.
2022 is gone and hopefully it's gone for good. An investigation by Abuja Network News finds out that Nigerians have a lot to rejoice in this year than in the previous years, life will be a lot easier and better all thanks to some developmental projects and investments by both the government and the private sector.
Most prominent upcoming events that will most likely change Nigeria for the better include but not limited to the fact that the first quarter will witness a major elections, a new President will be elected in the process political parties and politicians will do everything possible to outspent each other, money will flow from top to bottom of the economy with hospitality businesses, decorations, food and beverages, advertisements, tailoring amongst other business experiencing a major boost. As faith will have it the lower and the middleclass stands to benefit more from this upward trend.
Major events to look forward to in 2023 include.
1. 2023 is an election year and will see a brand new President, FEC members, Senate and House of Representatives amongst others come into office early second quarter of the year. It is expected that there will be upward trend in political activities in the first quarter which will translate to upshoot in economic activities immediately the elections are concluded and new leaders emerged.
Once a new President emerges, government agencies as well as investors are likely to increase their investments in different sectors of the economy due to certainty in the system and the new government will ease the bottlenecks in doing business in the country. Investors will compete with each other in taking advantages of the new government's policies and this will positively affect the life of Nigerians.
2. Dangote refinery will commence full operation in 2023. This will be a major boost to the economy of Nigeria, beside providing jobs to Nigerians the refinery will drastically reduce Nigeria's dependant on imported fuel and the country will be under less pressure for the need of almighty dollar to provides it's energy needs. This will also drastically reduce the much criticised subsidy regime that has sunk billion of dollars over the years. As such government will have more funds to invest positively in the development of the nation. The more investment government made the better the lives of Nigerians will be.
3. Crude oil from the North will hit the market. In 2023 Nigeria's output of crude oil which is the major income earner for the country will increase significantly with the discovery and mining of oil in the Northern part of the country. 2023 will see an upward trend in output which will translate to upward trend in income, giving the government more access to needed resources to invest in the development of the nation.
4. Oil Prices will most likely go up. With the current crises in Ukraine with no end in sight and the OPEC's somewhat refusal to increase output, oil prices will most likely continue to go up. This means more resources to the government, with more resources it is expected that the government will invest positively thus making the lives of Nigerians a lot better in 2023.
5. Siemens's takeover of Nigeria's electricity distribution will be completed thus increasing access to power in the country. One of the major challenges facing Nigerians today is the issue of power distribution. Businesses are finding it difficult to survive on generators due to exorbitant fuel prices. It cannot be gainsaid that with the little improvement in power distribution witnesses recently businesses are breathing a new life, with the completion of Siemens takeover and the government's recent investment in the power sector 2023 will be more a promising year.
6. The Zungeru 700MW power generating plant in Niger state and the 40MW Kashimbila Power generating plant in Taraba will come to live thus increasing the power generation capacity of the country which will translate to more power for domestic consumption and for exports. Meaning more income for the country, this will tremendously increase the government's spending power this impacting the lives of Nigerians positively.
7. The recent CBN Naira redesign and withdrawal policy will also force a lot of currency that were hitherto hidden, horded and stucked and are out of circulation to be back into the system. And directly or indirectly many Nigerians will benefit from it thus making life a bit more easier.
In summery Abuja Network News is predicting a very joyous new year for Nigerians where life will be alot easier.
Once again we wish you a very happy new year.
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