Viewpoint :Muhammadu Buhari We would do well to reflect on what binds us together and the great strength our diversity bestows on us. Ours is an ambitious nation, and as citizens we have every right to look forward to the future with well-founded confidence and optimism, considering where we find ourselves today. There has been a steady improvement in the security situation in the north-east,…
Viewpoint:Peter N Orizu, Nkwachi Abuka MSMEs are critical to the development of any nation due to their numerous contributions to the economy. MSMEs are perceived to be the engine of growth and catalyst for socio-economic transformation of any country because of their significant contribution to the advancement of new product development and processes, and employment generation. In developing…
Amid the tentative recovery from recession, the cement market grew rapidly in the first half of 2018, as sales by volume increased by 9.8% over the first half of 2017, from 10.2m tonnes to 11.2m tonnes. The Nigerian manufacturer Dangote Industries led the way in that growth, as sales of locally produced materials grew by roughly 11% between those same periods, from 6.6m tonnes to 7.3m tonnes, and grew…
Although Nigeria’s 2013 move to privatise the majority of its power sector assets has by many standards failed to create the level of returns hoped for, market participants still see the country’s electrification as an investment opportunity. However, there has been a shift in focus from the national system to smaller, local projects. The 2017 Power Sector Recovery Programme (PSRP) is unique in…
Growth of the population, set to reach 300m by 2030 and 400m by 2050, coupled with an expanding middle class, suggests there is strong growth potential for the fast-moving consumer goods (FMCG) segment, and underscores the fundamental attractiveness of the Nigerian market. In addition to these long-term drivers, manufacturers are set to benefit from improved economic performance in 2018. According…
When President Muhammadu Buhari took office in 2015, he pledged to increase the country’s crude oil refining capacity, fix state facilities and put an end to expensive fuel imports. The effort to address refining is ongoing; however, as more businesses enter the market, progress on these issues could make private sector involvement a crucial factor, with a number of collaborative plans seeing progress…
Automobile manufacturing is poised for accelerating growth over the medium term, as major carmakers like Nissan, PSA Group and Volkswagen move to revive, expand or build new manufacturing and assembly bases in-country. These firms and their domestic partners should reap the potential dividends of Nigeria’s large and growing automotive market, as well as recent protectionist initiatives that have…
As the only member of the Organisation of the Petroleum Exporting Countries reliant on imported fuels, Nigeria has long dealt with an expensive trade situation, which has soaked up finite foreign currency reserves and put pressure on the naira. Sector stakeholders have called for the full deregulation of petrol prices, arguing that removing subsidies would trigger investment and discourage wasteful…
Health coverage is one of the areas most primed for growth in Nigeria’s insurance sector in the near future. Nigeria is working towards a goal of universal health care, and the responsibilities for realising this goal are distributed throughout multiple levels of government. New initiatives are expected to boost coverage and understanding of how health insurance can help mitigate risks, and private…
Nigeria’s latest bond issuances reflect the market’s shift away from government debt towards alternative funding instruments, such as infrastructure and green bonds, some of which may come with sovereign guarantees that partially cover default risks. For example, Abuja plans to use eurobonds more frequently for its funding needs, which is likely to lower its cost of finance as well as leave the…
