We live in a world of uncertainties and uncertainties rewrite expectations and optimal plans. For instance, the Coronavirus pandemic took the world by surprise and putting many countries of the world in the position of emerging economies. All macroeconomic projections for the year 2020 failed with an especially longer-term impact on emerging African markets.
In 2021 and beyond, it is still not certain what the African Continental Free Trade Agreement (AfCFTA) would mean for African economies. It is, therefore, pertinent that governments, firms, and households have a broad view of the uncertainties that abound. It is to this end that the Expert Area Finance and Investments are developing several indices to track economic uncertainties in Nigeria. The indices are:
- Nigerian Economic Policy Uncertainty Index (NEPU)
- Nigerian Monetary Policy Uncertainty Index (NMPU)
- Nigerian Fiscal Policy Uncertainty Index (NFPU)
- Nigerian Equity Market Uncertainty Index (NEMU)
- National Security Uncertainty Index (NSUI)
These indices can be replicated for more African countries; however, it requires extensive programming to develop and frequent recalibrations to maintain. We, therefore, seek funding in terms of partnerships, sponsorships, and collaboration to develop these critical indices. The indices will be launched in a conference on uncertainty in the year 2021 (dates to be announced).