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Analysis

Utilising strengths: Operators focus on business process outsourcing solutions
OBG
plus

With the largest population on the continent, half of which is below the age of 25, and English as the official language, Nigeria’s demographics are attractive for business process outsourcing (BPO) recruiters. Geographically, its time zone is closely aligned and well suited to servicing much of Europe, a major advantage over outsourcing destinations in Asia. While the country exhibits some…

Analysis

First impressions: Advertisers invest heavily in the online and mobile segments
OBG
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Over the past five years digital marketing has come to play an important role in Nigeria’s advertising industry. For local brands, ad platforms and strategies that target internet and mobile handset users are considered an integral component of an effective ad campaign. According to InMobi, a multinational digital advertising and research firm, in the first three months of 2013 mobile advertising…

Analysis

Prepping for primetime: The television segment looks set to continue to expand
OBG
plus

Since Nigeria’s broadcasting sector was liberalised in 1992, the country has become one of Africa’s largest television markets. In an early-2012 poll carried out by the US-based research firm Gallup in conjunction with the Broadcasting Board of Governors (BBG), a US federal agency, nearly 79% of Nigerians reported having a working television at home. More than 145 terrestrial television stations…

Analysis

Building up resources: Investment in health infrastructure bodes well for the state’s future
OBG
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Improving human development indicators, including health provision, is a key priority for both federal and state governments, and Oyo State is no exception. The government is investing in social services, which commanded 29% of the 2013 state budget, with health receiving allocations of N3.85bn ($24.25m). However, to meet Millennium Development Goals and address total demand, a sizeable increase…

Analysis

Feeding growth: The large agricultural sector provides much potential
OBG
plus

Given the state’s sizable agricultural output, agro-industrial processing is a large part of Oyo’s industrial activity, with a number of facilities focused on segments like fruit juice production or flour milling – although several other manufacturers are present in the area as well, such as pharmaceuticals. As elsewhere in Nigeria, secondary production is fairly limited, hampered by…

Analysis

Expanding the network: A number of new initiatives are under way to improve services
OBG
plus

With a population of around 168.8m, and low levels of government spending on health care across the board, the provision of health services in Nigeria is defined by a series of challenges and constraints. The public network of health-related facilities, which includes clinics and hospitals at the community, state and federal levels, has been underfunded for decades. Consequently, a substantial…

Analysis

Logged on: New initiatives aim to boost the use of technology in the sector
OBG
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Over the past decade information and communications technology (ICT) has played an increasingly important role in Nigerian society. In the 10 years since the ICT sector was liberalised in 2003, the percentage of the population that regularly accesses the internet has skyrocketed. According to the International Telecommunications Union, the UN’s ICT agency, at the end of 2011 more than 28% of…

Analysis

Fuel to the fire: A far-reaching piece of legislation has sparked intense debate
OBG
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The Petroleum Industry Bill (PIB), which is currently before the federal legislature, establishes the legal and regulatory framework, institutions and regulatory authorities for Nigeria’s petroleum industry and stipulates guidelines for operations in the upstream, midstream and downstream sectors. When the PIB is passed into law, it will have the effect of repealing or reviewing all existing…

Analysis

Time for change: A proactive approach is being taken to building the system
OBG
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As Nigeria continues to seek ways to diversify its economy, governments and corporate organisations recognise the importance of a dynamic tax system that is not only geared toward fiscal growth but addresses today’s business environment. The government, especially through the Federal Inland Revenue Service (FIRS) and the Joint Tax Board, is adopting a proactive approach to building the system.…

Analysis

Untapped potential: Despite many difficulties, the opportunities in agriculture are numerous
OBG
plus

Given that the country’s exports are dominated by hydrocarbons, Nigeria’s agricultural sector provides an estimated 60% of jobs across the nation – a dynamic that is mirrored in many of the states, and Oyo is no exception. Agriculture is currently the main contributor to Oyo State’s economy, comprising 38% of gross state product (GSP) and directly or indirectly employing as much as…