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USA 2020 : Biden’s victory will attract $700b to Nigeria, other emerging markets, say experts

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5 years ago

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A win for former United States (U.S.) Vice President Democratic Party presidential candidate Joe Biden will attract $700 billion investments to Nigeria and other emerging markets, Renaissance Capital (RenCap) analysts have predicted.

RenCap Chief Economist Charles Robertson said a Biden victory will, in the long run, shift trillions of dollars to Nigeria and other emerging markets.

In a report to investors titled: “Biden’s victory, trillions into EM and lockdown” released on Thursday, Robertson explained that if that happens, many people will wonder why this election race was tight.

The expert at the global investment and research firm said he expects Biden to clinch victory this evening (London time) with Nevada due to give him six Electoral College votes after 5pm London time.

On the outlook for Nigeria and other emerging markets, he argued that U.S. President, Donald Trump’s possible defeat is good for emerging markets. He said global investors will start re-allocating cash to emerging markets in a big way.

He disclosed that already, Blackrock’s head of fixed income, who is responsible for $2.6 trillion of that firm’s $7.8 trillion in assets (Africa’s Gross Domestic Product is $2 trillion to put this into perspective), said they will invest more in merging market.

“The stock of Africa’s Eurobonds only topped $100 billion in 2018, and even if it is only Blackrock’s actively managed part of the business more like $2 trillion in all asset classes (perhaps $700 billion in fixed income), that starts to shift to Emerging Markets this could be very helpful.

“Our base case is that Foreign Direct Investment will stop being a net positive for the US due to Trump’s defeat, and portfolio flows will also go to EM, and together, these will drive the $ gradually weaker in coming years,” he said.

Robertson said this becomes a self-reinforcing cycle of emerging market forex appreciation giving good returns to dollar investors, which in turn attracts more money to emerging market and in turn pushes emerging market forex stronger

He predicted: “Georgia is also looking like another Democrat victory (Biden is 23,000 votes behind with two per cent of the vote, about 100,000, still to be done and they have been flowing his way).

“This gives Biden 270 electoral college votes with Nevada, which is what he needs to win and 286 if he does get Georgia. With Pennsylvania votes counted yesterday – and Democrats expecting a big win from remaining mail-in votes, Biden might well end up with 309 Electoral College votes to 229 for Trump (who is likely to win North Carolina).”

Robertson explained that if that happens, many people will wonder why this election race was tight.

He explained that talk of recounts in Wisconsin have been dismissed by a former Republican governor Scott Walker as having no chance of changing the results – previous recounts have changed voting tallies by a max 300 votes but Biden is 20,000 ahead.

Robertson said that even if challenges in any states get to Supreme Court, the suspicion was that Trump will find that his appointees do not owe him a personal favour to come down on this side.

“They will instead do what is institutionally correct. It would be surprising if there were so many successful challenges that Trump could keep the presidency. So, our base conclusion from May that Trump would lose because that’s what always happens to incumbents in a recession year, will come good,” he said.

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Breaking : APC National Chairman, Abdullahi Ganduje, Resigns

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5 days ago

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June 27, 2025

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Ganduje, a former Governor of Kano State, cited health reasons for his resignation, stating that he needs to “focus on his well-being.”

Mr. Ganduje’s time as APC chairman has been fraught with controversy and internal challenges.

While his resignation letter attributes his decision to health-related concerns, sources close to the situation suggest that mounting political tensions within the party may have influenced his move to step aside.

There have also been allegations of financial misconduct tied to his leadership, with some party members reportedly protesting against what they described as “excessive financial demands” from his office

 

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BREAKING: At last, Fubara meets with Amaewhule, Rivers lawmakers, as they shared jokes and laughter

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6 days ago

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June 26, 2025

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Suspended Rivers Governor Siminalayi Fubarahas met with the suspended Speaker of the House of Assembly, Martins Amaewhule and other aggrieved state lawmakers.

Multiple sources confirmed on Thursday evening the meeting held and ended with Fubara holding the hands of Amaewhule as they shared jokes and laughter.

It was gathered that the meeting, which was held in Abuja, was the first reconciliatory move between the governor and the state lawmakers.

A source, who spoke in confidence, said Fubara’s engagement with the lawmakers was fruitful but added that an enlarged peace meeting would hold to discuss peace terms.

“The suspended Governor is determined to make peace. He has started the real engagement,” the source said.Fubara was suspended from office on March 19 following a state of emergency declared by President Bola Tinubu and ratified by the National Assembly to stop the escalating political crisis in the state.

 

The President appointed former Naval Chief, Vice-Admiral lbok Ete-Ibas for the first six months as an administrator for Rivers to allow the warring politicians to reconcile their differences.

 

Though Fubara had met with his estranged benefactor, Nyesom Wike and President Tinubu on the Rivers situation, the Thursday meeting he held with the lawmakers was said to be the most important step towards genuine reconciliation.

Wike had said on different occasions that to actualise genuine reconciliation Fubara must meet with the various stakeholders he offended especially members of the House of Assembly, whom he withheld their salaries and allowances for over two years.

 

It was learnt the Thursday elicited applauses from various stakeholders in the state including the simplified family of Fubara with many of them describing it as a step in the right direction.

 

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Renewed Hope: Jubilation in A’Ibom as Tinubu, Akpabio Welcome Governor Eno to APC on Saturday

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2 weeks ago

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June 19, 2025

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Security has been heightened in Uyo, the Akwa Ibom State capital, ahead of President Bola Ahmed Tinubu’s visit for the grand reception of Governor Umo Eno into the All Progressives Congress (APC) on Saturday.

The event, to be held at the Godswill Akpabio International Stadium, Uyo, will be hosted by Senate President Godswill Akpabio, alongside the APC National Chairman, Abdullahi Ganduje.

Dignitaries expected at the high-profile reception include members of the Progressive Governors’ Forum, the APC National Working Committee, party chieftains, and key political stakeholders from across Nigeria.

The planned reception was confirmed in a statement issued by Aniekan Umanah, chairman of the media & publicity subcommittee “The All Progressives Congress (APC) is pleased to announce that all is set for the grand reception of the Governor of Akwa Ibom State, His Excellency, Pastor Umo Bassey Eno, Ph.D., and his team into the APC.“The historic event is scheduled to hold on Saturday, June 21, 2025, by noon at the Godswill Akpabio International Stadium, Uyo.

  • “His Excellency, Alhaji Dr. Abdullahi Umar Ganduje, the National Chairman of the APC, will formally receive Governor Umo Eno and his team into the party, following an official presentation by the Akwa Ibom State APC Chairman, Obong StephenThe event will be graced by the President and Commander-in-Chief of the Armed Forces, Federal Republic of Nigeria, and Leader of the APC, His Excellency, Asiwaju Bola Ahmed Tinubu, GCFR, who will officially welcome Governor Eno into the progressive fold.

“Also expected is the Chief host and President of the Senate, His Excellency, Distinguished Senator Godswill Obot Akpabio GCON, whose presence will further underscore the spirit of unity and political alignment between Akwa Ibom State and the Federal Government. This moment marks a significant milestone in fostering collaboration for the progress and prosperity of the State.

“Other dignitaries expected include members of the Progressive Governors’ Forum, the APC National Working Committee, senior party chieftains, and key political stakeholders from across the country.

“The APC warmly invites traditional rulers, political leaders, women and youth groups, and all citizens and residents of Akwa Ibom State to be part of this historic celebration.

“Come and join us in giving President Bola Ahmed Tinubu, the Senate President, and other distinguished guests a rousing welcome as we celebrate unity, progress, and the rising hope of Akwa Ibom State under the APC”, the statement added.

Meanwhile, the state commissioner of police, Baba Azare, disclosed that adequate security is being put in place for the event.

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