The Guide contains listings of leading hotels and resorts in Nigeria for both business and leisure travellers, helpful information for new arrivals to the country and details on current visa requirements for tourists. …
Nigeria’s tax system has undergone a significant transformation due to the enactment of three annual finance acts, which have amended a total of 19 pieces of legislation, and 167 provisions of tax and fiscal laws – changes that have included a gradual shift from direct to indirect tax and a higher value-added tax rate. While many stakeholders have continued to advocate for a total overhaul of the…
Although Nigeria’s growing population poses a number of challenges to the provision of health care, the sector’s longer-term investment prospects remain promising, as the Covid-19 pandemic created more opportunities for private sector innovation. Moreover, further reforms and greater government spending on health care have the potential to create significant positive outcomes. As for education,…
Gombe State has a strong agriculture sector, and has the potential to further develop its agro-industry, mining, manufacturing and energy sectors to accelerate economic growth. Ranking first in Nigeria’s 2021 and 2022 subnational ease of doing business surveys, the state’s business environment has attracted a significant number of micro-, small and medium-sized enterprises. Moreover, with GDP growth…
Situated at the epicentre of the petrochemicals industry, Delta State has the third-largest economy among Nigeria’s states, accounting for around 21.5% of the country’s oil output as of March 2023. While its internally generated revenue is predicated on oil and gas proceeds, the state has seen an expansion in other areas of the economy, with the non-oil and gas sector accounting for 52.5% of GDP…
The increasing integration of the transport sector with the growing economy is underscored by the need to move huge amounts of natural resources and merchandise to support mining, agriculture, energy and manufacturing. Efforts to bridge such infrastructure gaps, particularly in road and railway systems, has led successive governments to allocate funds to transport projects. Despite the governance challenges…
With the sector recovering from the stresses of the Covid-19 pandemic and the government’s key financing schemes experiencing notable success, Nigeria’s construction landscape is beginning to look brighter. While the real estate sector has enjoyed a rebound since pandemic-related restrictions began to ease, the lack of affordable housing is a growing concern that has been exacerbated by inflation,…
The second-largest contributor to GDP, the retail sector has long been a driver of growth and a bellwether of Nigeria’s economic trajectory. Several challenges have impeded the sector from fully leveraging the potential of its large consumer market, such as inflation, volatility in the exchange rate and a vulnerability to external price fluctuations. However, there is room for optimism, highlighted…
With a population of close to 220m and an internet penetration rate of 51% at the beginning of 2022, Nigeria’s large ICT consumer market offers room for growth, making it an enticing prospect for local and international investors, particularly with the population forecast to reach 377m by 2050. Inadequate policy implementation has long prevented the sector from reaching its potential, but the government’s…
Agriculture remains a linchpin of Nigeria’s economy, contributing nearly 25% to GDP and employing 70% of the country’s workforce. To leverage its arable land and favourable climate, and reverse its status as a net food importer, greater investment is needed to develop Nigeria’s downstream food processing and agri-business industries. The sector faces a number of challenges across its value chain,…
