Overview

Regulatory initiatives address challenges in Nigeria's ICT sector
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Despite facing many challenges in 2016, the Nigerian telecoms market continues to grow and offer significant potential for investment. With a population of nearly 189m, this substantial consumer base offers a variety of opportunities for mobile operators, broadband companies and content providers. Furthermore, the government’s intention to use telecoms and ICT not only for economic development,…

Overview

Structural reforms open up Nigeria's transport systems to private investment
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With Africa’s largest economy and its biggest population, Nigeria’s growth potential has been widely reported; however, long-term bottlenecks have prevented the country from realising that potential. The transport sector has been identified over the years as one of those bottlenecks. As a result of decades of poor maintenance and underinvestment in new capacity, the sector is marked by…

Overview

Efforts to boost middle-income home ownership in Nigeria
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Nigeria’s real estate sector has traditionally been defined by an abundance of demand and relatively limited supply, whether in residential, commercial or retail space. The boom in the country’s economy in the years following the global financial crisis of 2008 led to a surge of investment in Nigeria and attracted a range of businesses, leading to a shortage of grade-A office space. Although…

Overview

Domestic supply sustains growth in Nigeria's construction sector
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Following a difficult 2016 the Nigerian construction sector showed signs of stronger growth in the first half of 2017. The uptick in activity comes on the back of a low base, however, as the country’s first recession in 25 years affected private investment in real estate building and oil companies had to scale back investment plans due to lower global oil prices. The stabilisation of the…

Overview

Nigeria's retail players demonstrate impressive e-commerce potential
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Given Nigeria’s demographics, the country’s retail sector holds significant potential. However, in line with many other African economies, formal retailing remains nascent and accounts for just 5% of all shopping. With 180m consumers in the country, there is ample room for growth, but navigating domestic hurdles has proven difficult. Currency depreciation and rising inflation, combined…

Overview

Nigeria's media landcape undergoes rapid change
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Nigeria’s first news outlet was established in 1859, and the country’s media sector has since grown into a prosperous industry that comprises newspapers, radio broadcasters and television stations, and caters to an audience of over 180m in a variety of languages. As is the case for many media industries around the world, the shift to digital has resulted in changes in Nigeria. Some alterations…

Overview

Nigeria's young population necessitates improvements to the education system
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Demographic booms come with both opportunities and challenges. Emerging countries with young populations can see a rise in economic growth; however, the so-called “demographic dividend” is contingent on the provision of ample jobs for a growing working population and the ability of workers to meet the demands of the labour market. With 43% of its 186m citizens under the age of 15, Nigeria…

Overview

Nigeria makes significant progress towards universal health care coverage
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In February 2017 the Nigerian government approved the second National Strategic Health Development Plan (NSHDP II). Announcing the policy, Isaac Adewole, the minister of health, said that a technical working group headed by his predecessor, Eyitayo Lambo, had identified the key challenges and mistakes of the past in order to reposition the country’s health care sector. Adewole noted that…

Overview

A review of Nigeria's legal system
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Corporate law is one of the highly regulated areas in Nigeria, which is not surprising given its effect on the country’s economy and polity. The Companies and Allied Matters Act (CAMA) is the principal law governing corporate law in Nigeria. Other laws regulating corporate practice in the country include the Nigerian Investment Promotion Commission (NIPC) Act, the Investments and Securities…

Overview

An overview of national tax policy and administration in Nigeria
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Over the past three years the Nigerian economy and public finances have been dealt a heavy blow by the fall in oil prices and depleted foreign exchange reserves. With the decline in oil revenue, focus has shifted to taxation as a source of income. National Tax Policy A revised national tax policy (NTP) was approved by the Federal Executive Council on February 1, 2017. The NTP is a document…