As Africa’s most populous country, its second-biggest economy and a major hydrocarbons producer, Nigeria has often drawn sizable capital inflows but only in recent years have real estate investors taken a studious look at the sector. Supply shortages in some segments, including high-end office space, have pushed prices and rents to highs in some cases above those of developed countries. With more…
A mix of reforms and investments aimed to revive Nigeria’s agriculture industry are set to stimulate growth up and down the production chain and create new jobs that could number in the millions. However, vital to this plan will be efforts to encourage banks to boost lending to crop farmers and large-scale processors, as well as for the government to deliver on its promises.Speaking in Geneva on…
After a major debt issue by a World Bank organisation, Nigeria’s bond market is expected to pick up momentum in 2013. Hunger for its emerging-market issues have pushed down yields, helping lower the cost of investment in Africa’s second-largest economy.The first bond offer by a non-resident issuer in Nigeria proved a stellar success at its launch, as the International Finance Corporation (IFC)…
In spite of the “water no get enemy” mantra that is plastered across the blue and white pipelines of Lagos, Nigeria is in danger of falling short of targets it set more than a decade ago to provide clean water and sanitation to the majority of citizens. However, increased government funding for water management and calls to encourage private investment in treatment plants and distribution systems…
Oxford Business Group is pleased to announce its media partnership with the 13th Annual Nigeria Oil & Gas Conference which will be held on 18 – 20 February, in Nigeria. In this respect we send you the following message from the conference organisers: Dear Oxford Business Group Subscribers, There is less than 1 week remaining until the 13th Annual Nigeria Oil & Gas Conference taking place…
A major policy rethink for Nigeria’s cement sector is set to steer the industry in a new direction aimed at building up an export market and improving competitiveness.Although controversies over pricing and imports have been an issue in the past, local cement output has increased at a remarkable rate in the past decade, largely due to the introduction of the Backward Integration Policy (BIP), which…
Although penetration rates continue to lag behind those of other formal financial services, Nigeria’s insurance sector offers plenty of room for expansion over the coming years. Even so, there are a number of factors that could hamper growth and restrict earnings.Speaking late last year, Fola Daniel, head of industry regulator the National Insurance Commission (NIC), said the Nigerian insurance…
President Goodluck Jonathan and his economic team began 2012 with a renewed focus on their Agenda for National Transformation (ANT), targeting wholesale reform across a range of economic sectors.The new agenda, which was designed to complement the Vision 20:2020 development strategy, contained a number of macroeconomic objectives, led by the aim to maintain real GDP growth at around 7-8%. Other targets…
Given the country’s comparatively low visitor figures, and its drive to diversify away from primary sector activity, Nigeria has long stated its desire to develop its tourism industry, although it will need to tackle challenges in human resources and training if it is to keep pace with the competition.Tourism currently contributes just 1.6% to Nigeria’s GDP, according to the latest report of the…
As the latest step in the country’s long march to encourage diversification, the Nigerian government has been facing a growing chorus of calls to step up efforts to support the manufacturing sector and reverse the decline the labour-intensive industry has been experiencing for some 20 years. However, any turnaround will require high levels of investment from both the public and private sectors.The…
