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Interview

Kashifu Inuwa, Director-General and CEO, National Information Technology Development Agency (NITDA): Interview
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Interview:Kashifu Inuwa What steps must be taken to implement Nigeria’s National Digital Economy Policy and Strategy? KASHIFU INUWA: The National Digital Economy Policy and Strategy (NDEPS) outlines eight pillars to facilitate the digitisation of the economy. This comports with former President Muhammadu Buhari’s vision to diversify Nigeria’s economy away from its dependence on oil and…
Interview

Olu Akanmu, President and Co-CEO, OP ay Nigeria: Interview
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Interview:Olu Akanmu In your view, how feasible is the central bank’s financial inclusion target for 2024? OLU AKANMU: In 2020 the financial inclusion rate was 64%, which the Central Bank of Nigeria (CBN) can feasibly grow to 80-90% by leveraging the expanding range of financial technology services. However, roughly 50% of the population holds a formal bank account, whereas informal financial…
Interview

Ebele Enunwa, CEO and Founder, Sundry Markets: Interview
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Interview:Ebele Enunwa What are the biggest challenges for modern retail chains to reach meaningful scale in Nigeria? EBELE ENUNWA: The biggest challenge to reaching scale is a lack of quality retail space due to limited investment by property developers. We have had to build our own retail spaces to address the lack of supply, rendering it difficult to scale since it entails operating beyond…
Interview

Sefihait Kone, Managing Director, Bayer Nigeria: Interview
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Interview:Sefihait Kone How can public-private partnerships (PPPs) mobilise capital to narrow the agricultural funding gap? SEFIHAIT KONE: Access to affordable financing remains a key challenge in the agricultural sector, especially for smallholder farmers who account for more than 80% of the production base in sub-Saharan Africa. This funding gap is driven mainly by the notion that agri-lending…
Interview

Ayodeji Balogun, CEO, AFEX Commodities Exchange: Interview
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Interview:Ayodeji Balogun What are the challenges to successful capital allocation for the production, trading and processing of agro-commodities in Nigeria? AYODEJI BALOGUN: Agriculture remains pivotal to the development of Nigeria’s economy, contributing an average of 23% to the country’s GDP per year over the last decade. The agriculture sector grew by 1.34% year-on-year in real terms…
Interview

Bose Owolabi, Managing Director, Dukia Gold & Precious Metals Refining Company: Interview
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Interview:Bose Owolabi To what extent can the Lagos Commodities and Futures Exchange (LCFE) help drive investment? BOSE OWOLABI: Under Basel III banking regulations gold, similar to cash, is deemed a zero-risk-weighted asset, enabling financial institutions to hold part of their investment in gold. Facilitating this requires a structured and regulated platform on which gold and other investment…
Interview

Seleem Adegunwa, Managing Director, Rite Foods: Interview
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Interview:Seleem Adegunwa What key features underpin the attractiveness of the Nigerian consumer market? SELEEM ADEGUNWA: The population size and the litany of embryonic segments within the market are enticing to investors. While the market is still in its infancy in terms of infrastructure, logistics and service delivery, the growth potential is exponential, with a customer base of over 200m…
Interview

Olumide Adeosun, CEO, Ardova: Interview
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INTERVIEW:Olumide Adeosun In what ways can the downstream sector benefit from the Petroleum Industry Act (PIA)? OLUMIDE ADEOSUN: Political will and private sector engagement are necessary to benefit from liberalisation under the PIA. Separating the Nigerian National Petroleum Corporation’s roles as regulator, operator, competitor and price determiner should stabilise fuel prices and availability,…

Overview

Gombe State’s young, growing population to play key role in development
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Gombe State in north-east Nigeria has become a major economic and trading centre, with strong agriculture and mining sectors. With the government announcing new projects to further tap the state’s economic potential, Gombe State is expected to continue to grow and become a major force in the north of the country. History & Culture Gombe State – the name of which comes from its capital, Gombe…

Overview

A focus on human capital offers a path to expansion and industrialisation in Nigeria’s Delta State
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Delta State is one of six states that make up Nigeria’s South-South geopolitical zone. Situated on the Niger River delta, the state is one of the country’s main oil-producing regions and has contributed significantly to its GDP growth in recent years. History Nigeria was under British and French rule in the 20th century before achieving independence in October 1960. Therefore, Delta State’s…