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Analysis

The thick of it: Stockbrokers are now becoming the focus of more regulatory attention
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Some of the hardest hit players during the 2008 crash, stockbrokers now look set to experience major regulatory changes in the coming years. Alongside stricter oversight and higher capital requirements from the Securities and Exchange Commission (SEC), the Nigerian Stock Exchange (NSE) is upgrading its trading platform and spinning off its post-trade settlement mechanism to allow for greater transparency…

Analysis

Transitioning: Steps are being taken to manage reform and secure domestic supplies
OBG
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Policymakers in Nigeria would like to create a fully market-driven natural gas system. However, ever since – indeed, before – the Gas Master Plan was drawn up in 2008, it has been understood that this objective will not be realised in the short term, and that carefully planned transitional mechanisms are necessary to ensure both that progress and the economy’s growing needs are catered for…

Analysis

Applied theory: Developing the nation’s local mobile content
OBG
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Even a small fraction of a dynamic market of some 101.8m SIM cards, according to May 2012 data from the Nigeria Communications Commission (NCC), can lead to large scale profits. Thus while smartphones account for a mere 5% of the market – over 5m users – intense competition for a share of the mobile app segment is spreading to Nigeria and users’ appetite for app downloads appears substantial.…

Analysis

Investment potential: The private equity market is expanding, particularly in the property development segment
OBG
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Private equity has rapidly developed as an alternate source of funding across Africa, and Nigeria, as a risky but often undervalued market, is no exception. Although development finance institutions have long dominated private equity projects on the continent, an increasing number of private funds, both foreign and domestic are active, attracted in part by the success seen by the development institutions.…

Analysis

Glass half full: Competition in the market for beer heats up
OBG
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It is not Africa’s biggest market, but it is promising. According to Russian investment bank Renaissance Capital, Nigerian beer consumption in 2011 totalled around 19.5m hectolitres. At around 12 litres per head, that is a lot lower than the global average of 27 litres, and far below South African levels of 63 litres. But growth has been brisk: Renaissance puts the compound annual growth rate…

Analysis

A new direction: Draft policy will lay out the technology sector’s future
OBG
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The future structure of information and communications technology (ICT) in Nigeria is taking shape. Following national elections in 2011, a new minister, Omobola Johnson was selected to lead the Ministry of Communications Technology (MCT), the main government body overseeing the sector. The emergence of a draft national policy on ICT in the wake of the elections has also been seen as a positive…

Analysis

A clear message: Innovations in advertising open up new avenues
OBG
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It is difficult to travel around Nigeria without noting the sheer volume of advertising space, on billboards, over the airwaves and in print publications. Glossy magazine ads target consumer products for high-end clients, while billboards promote mobile networks. However, Nigeria has felt the effects of the global economic downturn with some of the sector’s main advertisers becoming more reluctant…

Analysis

A home away from home: Numerous new hotel projects are slated to come on-line
OBG
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West Africa is the new frontier for international hotel chains, and, as home to over half the region’s population, Nigeria is right at the centre of this trend. While the industry has long been dominated by a small number of large business hotels, the past few years have seen a significant increase in international hotel brands, particularly in Lagos, the country’s commercial centre. Some examples…

Analysis

Manufacturing on the rise: The government is implementing an ambitious long-term industrial development policy
OBG
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Nigeria’s industrial sector is expected to grow considerably over the course of the coming decade, largely as a result of Vision 20:2020, the state’s overarching long-term economic development blueprint. Under the plan, which was introduced in 2010, the government aims to expand the industrial sector’s contribution to GDP from its current 4-5% to at least 25% by the end of the decade. To…

Analysis

Blockbuster potential: The film industry’s rise to fame attracts global interest
OBG
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In 1992 a movie about the occult titled Living in Bondage was released on video and became the first major success of the Nigerian film industry. Since then, Nigerian cinema has taken off, as filmmakers have developed innovative methods of making motion pictures. This has especially been the case in recent years, as digital cameras have enabled filmmakers to produce movies much more efficiently…