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Analysis

New regulatory body to overhaul Nigeria's energy sector
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It was just one step in the right direction, but the Nigerian Senate’s passage of an energy industry bill, the Petroleum Industry Governance Bill (PIGB), in May 2017 felt like a huge leap to many in the country. Nigeria has been waiting for a decade for comprehensive energy sector reform, with the existing regulatory framework showing its age, causing investment inflows to slow as a result. The…

Analysis

Pharmaceuticals production in Nigeria set to meet rising domestic demand
OBG
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With a variety of both local and foreign firms, Nigeria’s pharmaceutical market comprised more than 130 active companies in 2017, including global giants such as GlaxoSmithKline and Procter & Gamble, as well as smaller domestic start-ups. Although there is a heavy presence of drugs producers, the country still faces a significant shortfall in terms of domestic supply, which meets just…

Analysis

Development of local supply chain revitalises Nigeria's textiles industry
OBG
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Nigeria once had a thriving textiles industry, but as with so many of its peers across the continent, the sector has suffered under intense competition following the end of the Multi-Fibre Arrangement (MFA), which set rules for the international trade of textiles and garments until 2004. Given the role the MFA played in relation to employment, the development of a local supply chain and the…

Analysis

Policymakers aim to increase revenue from Nigeria's cassava crops
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No single crop defines the Nigerian agriculture sector more than cassava. The nation is the world’s largest producer of this root vegetable. Yet despite its proficiency in production, Nigeria has not been able to turn this position into a substantial revenue generator. However, efforts to capitalise on this competitive advantage speak to renewed optimism in the sector. Untapped Potential In…

Analysis

Lending constraints removed for Nigeria's agriculture sector
OBG
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As the government turns to the agriculture sector to boost economic growth, there is a greater emphasis on access to credit and financing for the industry. This stems from the awareness that more funds, in terms of both loans and grants, need to be supplied to the sector in order for it to reach its full potential. Adding Up Financing has been a consistent challenge for agricultural producers…

Analysis

Telecoms operators compete to offer 4G to Nigerian market
OBG
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Given the drive towards high-speed mobile broadband, access to spectrum has become one of the leading issues in the Nigerian telecoms market. This problem is not only likely to determine the government’s ability to meet its goals for broadband accessibility, but also define the parameters of the market and its competitiveness moving forward. In 2016 there was a concerted drive to roll out…

Analysis

Nigeria works to increase the broadband penetration rate
OBG
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Abuja has turned its attention towards infrastructure in a bid to boost telecoms quality and coverage. Given the efforts by the Nigerian Communications Commission (NCC) to improve services, along with the government’s aim to increase broadband penetration rate to 30% by 2018, there is recognition that the market faces significant infrastructure deficiencies. Structural Aid As of July 2016…

Analysis

Changing demographics drive rapid e-commerce expansion in Nigeria
OBG
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While e-commerce is starting from a relatively low base, the market looks promising for rapid expansion. Demographics, income and internet uptake all suggest that online retailers are well placed to generate strong revenue in this key African market. However, e-commerce faces several impediments to growth, including poor distribution infrastructure, existing consumer payment preferences and…

Analysis

Nigeria's rail master plan to connect the country
OBG
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Long-awaited modern rail services in Nigeria have finally begun to pick up momentum since 2016. Construction of a new standard-gauge corridor linking Lagos in the south to Kano in the north is under way, with the first section connecting Abuja and Kaduna opening in July 2016. The cross-country project represents one step towards offering locals greater transport options and alleviating the…

Analysis

New public transport options aim to ease traffic congestion in Nigeria
OBG
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There are a wide variety of urban mass transit options in Nigeria, with many of these services privately run. Options in large cities include regular taxis, ride-sharing services, motorcycle cabs, rickshaws and minibus services. However, when it comes to public transport, the choices and routes are more limited. There are some public services in the country, such as Lagos’ LAGBUS, which…