Nigeria

Combining oil and gas wealth with the entrepreneurial efforts of its predominantly young population, Nigeria has developed a business-friendly environment over the past two decades of civilian rule. The country has effectively leveraged its abundance of natural resources and harnessed the strength of its 193m-strong population to become a key nation both on the African continent and beyond.

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As environmental, social and governance concerns become increasingly important in the corporate world, insurance companies are emerging as potentially key players in the shift away from fossil fuel-powered projects.

Despite an increase in crop production and international trade following a pandemic-disrupted 2020, global food prices have risen to 10-year highs, increasing pressure on many emerging markets.

With a large youth population and growing network penetration, Africa has demonstrated its ability to innovate and technologically leapfrog mature markets.

From lockdowns to remote work and widespread job losses, the Covid-19 pandemic has dramatically changed the way people work. These interruptions are likely to have a significant impact on the global labour market well into the future.

A recent report has highlighted the significant potential of Nigeria’s burgeoning tech start-up scene, but also outlined a series of limitations that need to be addressed for the segment to emerge as a true engine of the country’s recovery from Covid-19.

While West Africa is one of the largest producers of cotton, it has the ability to process less than 2% of the crop locally; around 90% is exported to markets in Asia, where value is added through spinning and weaving.

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