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Analysis

Flare not, want not: Progress has been made in the effort to eliminate gas flaring
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The Nigerian oil industry has stepped up efforts to reduce the flaring of gas in recent years, with private sector investments paying dividends. Cutting down on flaring, which is economically improvident and environmentally damaging, goes hand-in-hand with the development of infrastructure to process natural gas. FALSE ECONOMY: Flaring is the combustion of so-called associated gas – that is,…

Analysis

Lafarge Cement WAPCO Nigeria: Building materials
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THE COMPANY: Lafarge Cement WAPCO Nigeria has leveraged its manufacturing heritage to become a significant strategic player in the building materials sector. Created in 1833, Lafarge is a global industry leader, with top-ranking positions in all of its businesses: cement, aggregates and concrete, and gypsum. Having acquired West African Portland Cement (WAPCO), AshakaCem, Atlas Cement, as well…

Analysis

Nigerian Breweries: Beverages
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THE COMPANY: Nigerian Breweries is the leading brewing company in Nigeria, operating eight breweries and distributing across the country. The company has a rich portfolio of leading brands, including Star, Gulder, Legend, Climax, Heineken, Maltina, Amstel Malta and Fayrouz. As of December 2011, the company had 7.56bn outstanding shares, translating into a market capitalisation of N715bn ($4.6bn).…

Analysis

Going upstream: Taking to the waterways to alleviate pressure on the roads
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Having reaffirmed its intention to liberalise its inland waterways system as a means of easing overwhelming pressure, particularly from freight, on Nigeria’s creaking road infrastructure, the Ministry of Transport (MoT) will need to demonstrate more commitment than past administrations for private investors to respond in force. Though it has the 14th-largest waterway network in the world, Nigeria…

Analysis

In the pipeline: A new regulatory framework is close to completion
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It has been a long pipeline – and Nigeria’s Petroleum Industry Bill (PIB) is not quite at the end of it yet. Just how long depends on definition. It was back in 2000 that Nigeria’s fledgling democratic government set up the Oil and Gas Reform Implementation Committee (OGIC) with a mandate to overhaul the country’s hydrocarbons legislation, replacing 16 laws with one and a modernising the…

Analysis

Never again?: Aircraft safety has become a top priority
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Four years after the last deadly crash, Nigeria’s aviation is still reeling from twin disasters in June 2012 that have served as a wake-up call for the industry. Although Africa was the continent with the highest number of crashes (yet the lowest level of traffic) in 2010, the absence of fatal air crashes in Nigeria since 2008 seemed to indicate stricter controls and enforcement by the industry…

Analysis

Liquidity ratios: Producing and selling natural gas in different forms
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With the natural gas extracted from underground coming in a gaseous state, it is somewhat amazing that much of what is produced by Nigeria has so far left the country in liquid form. Interesting, too, that the form of gas with which the local consumer is most likely to come into direct contact is also liquid, and comes in bottles. The former is liquefied natural gas (LNG), and the latter liquefied…

Analysis

New beginnings: The latest long-term strategy could transform the sector
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As the economy expanded rapidly over the past decade, Nigeria’s national transport system became increasingly strained. The country’s road network, which moves 90% of goods and people, according to the Ministry of Transport (MoT), is largely in a state of disrepair and heavily congested. The rail network, meanwhile, is only partially operable due to decades of underinvestment. The nation’s…

Analysis

Local heroes: Domestic firms increase their role in the hydrocarbons sector
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At the moment, it is the big international players – or the ventures involving them – that extract most of Nigeria’s oil and gas. In 2011, in fact, the respective proportions were around 90% and 95%. However, local players are not to be underestimated and look to be growing in importance as time passes. MARGINAL UTILITY: The first major push by authorities to promote local companies’…

Analysis

Opening the door: Bringing more international carriers in will require a careful approach
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Aerial passenger traffic has risen dramatically since 2007, when 8.5m people took to the Nigerian skies. In 2011 the figure was 14.6m — a 72% increase in four years. Of those, 12m flew on domestic flights, underscoring the key role of the country’s carriers. The largest of these is Aero, which has a domestic market share of around 35%. Aero’s occupancy rate on its flights in 2011 was 84%,…