Nigeria’s IT sector holds considerable potential to support both macroeconomic and non-oil growth, supported by a large population of almost 200m citizens, high levels of mobile penetration, and rapid uptake of mobile internet services. Long-term development strategies have highlighted high-speed broadband internet access as an important economic growth driver, and the government has moved…
In an effort to boost non-oil growth and job creation, the government of Nigeria rolled out a new three-year ICT development agenda emphasising domestic industry and local content. The new policy is expected to reduce high levels of ICT imports, with rapid currency depreciation offering the country a new opportunity to foster domestic ICT industries and reduce IT imports. Local talent development…
With investment in new airport infrastructure ongoing, the government is undertaking a series of policy and regulatory reforms aimed at improving aviation operations and following international best practice. Chief among these is a recent move to join the Single African Air Transport Market (SAATM), an agreement among 23 African nations to liberalise their aviation markets in support of increased…
Accounting for the majority of passenger and freight movements, Nigeria’s road network plays a critical role in domestic transport and international trade, although the bulk of its network remains in poor condition and unpaved, a challenge exacerbated by rising traffic volumes. Chronic congestion has had major economic ramifications for the country. The government is taking bold steps to…
Following prolonged population growth, infrastructure networks in the Federal Capital Territory (FCT) are facing unprecedented demand. A series of new and ongoing works are set to expand the network, and the proposed 2018 budget of the FCT Administration (FCTA) focuses much of its expenditure on infrastructure and transport projects. Nevertheless, public spending is set to fall short of rapidly…
The federal government of Nigeria has prioritised agricultural development under its Economic Recovery and Growth Plan, which seeks to create new jobs in labour-intensive sectors including agriculture, boost agriculture’s GDP contribution to more than 8% by 2020, up from current levels of between 3% and 4% annually, and make the country a net exporter of key crops including rice, cashew,…
The UN Food and Agriculture Organisation (FAO) reports that Nigeria is Africa’s leading rice consumer and one of its largest rice producers. It describes rice as an “essential” cash crop for Nigeria, with small-scale farmers accounting for 80% of production but just 20% of consumption. Shifting consumption trends have seen domestic rice demand rise in recent years, with Bloomberg reporting…
Nigeria presents considerable potential to return high yields on investment in the manufacturing industry. The administration has introduced a range of incentives to launch and broaden activities in various manufacturing segments, including agro-processing, biofuels, cement and automobiles. Coupled with the country’s broad resource base, the large and growing working-age population and the government’s…
Access to power remains one of Nigeria’s chief economic and social issues, with about 90m citizens lacking access to electricity, while the World Bank estimates per capita usage is lower in just eight other countries. Indeed, as the biggest domestic market in Africa, the country has great potential for manufacturing, but most investment in the sector tends to prioritise a steady and reliable supply…
With an abundant supply of natural resources, Nigeria’s oil and gas sector plays a key role in global energy. Its oil deposits have been a major source of crude for decades, while its less developed natural gas fields offer resources that have yet to be fully tapped. In addition to being a traditional heavyweight in terms of output, the energy sector is also notable for its early success in building…
