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,…
With greater government support and a growing role as a generator of export earnings, Nigeria’s mining sector is poised to maximise its considerable potential in precious metals and gems. Total revenue from the sector is expected to rise by 25% to N3.6bn ($8.5m) in 2023, reflecting its resilience, as well as continued federal and state support. The implementation of new mining regulations is expected…
Transitioning from Africa’s largest economy to most industrialised one is contingent on its efforts to boost production, reduce its dependence on imports and drive the export trade. For those changes to materialise, manufacturers need reliable, affordable access to electricity and other vital infrastructure, while potential investors require attractive regulatory frameworks to inspire confidence…
With Africa’s second-largest proven crude oil reserves – 36.9bn barrels as of 2021 – Nigeria remains a key global energy player. Despite the rise in crude oil prices resulting from Russia’s invasion of Ukraine, structural challenges facing the industry in Nigeria have constrained its ability to maximise export revenue from hydrocarbons. The country has the potential to benefit significantly…
The insurance sector has only skimmed the surface of what Nigeria’s economic growth could offer. However, raising gross written premium is likely to require a change in the market’s current structure. The large number of competitors – and the limited financial capacity of some of them – has made it difficult for the sector to deepen its penetration. The delay in the implementation of higher…
– Several emerging markets have developed internationally known film industries – Streaming services are leveraging local content to expand to new markets – The global industry is receiving funding from more emerging market sources – Many countries are targeting increased investment in local production As audiences return to entertainment in physical venues following the…
Regtech Africa Conference is the premier Conference on Regulatory Services Innovation and Excellence with focus on Africa. It provides the platform for regulators, regulated and key industry stakeholders to engage, collaborate and share knowledge around new technologies and practices that support better regulations. The annual event connects hundreds of executives, thought leaders and decision…
− Aviation’s post-pandemic recovery buoyed by a surge in tourism − Emerging markets launch new airlines to boost status as global aviation centres − Historic aircraft deals signal return of investor confidence to sector − New emissions regulations present opportunities for sustainable fuel production With global aviation passenger numbers rebounding, emerging markets…
− Commercial drone revenue is on track to outpace that of military drones by 2025 − Regulatory and safety concerns have slowed rollout in developed markets − Companies are testing their fleets by delivering essential supplies in emerging markets − Partnerships with e-commerce firms could make instant delivery a reality Emerging markets are capitalising on commercial drone…
