More Filters
There were 1481 results found for:

All Regions and All Sectors

Viewpoint

Afamefuna Nwokedi, Principal Counsel and Group Head, Stillwaters Law Firm: Viewpoint
OBG
plus

Viewpoint:Afamefuna Nwokedi Early in 2017 the federal government of Nigeria began a reform process for commercial entities by setting up the Presidential Enabling Business Environment Council (PEBEC). Its immediate aim is to improve Nigeria’s ranking in the next edition of the World Bank’s “Doing Business” report by at least 20 positions, up from its current position of 169 out of 190…
Viewpoint

Yomi Olugbenro, Partner and Head of Tax, Deloitte Nigeria: Viewpoint
OBG
plus

Viewpoint:Yomi Olugbenro Micro-, small and medium-sized enterprises (MSMEs) are the driving force for economic activity and innovation. They contribute to growth through job creation, investments, exports and taxation. In Nigeria the economy is largely dominated by MSMEs, with an estimated 96% of all businesses falling in this category. MSMEs account for 84% of the country’s workforce and…
Analysis

Nigeria takes a leading role in building African cooperation

Posted OBG AdminPosted in Uncategorized

Given the size of its population and economy, and its high diplomatic profile in the African arena, Nigeria has a widely acknowledged role as continental heavyweight. Through successive administrations, and evidenced by the large military and financial contributions it has made to regional economic and peacekeeping efforts, Abuja has long assumed a lead role in everything from encouraging regional…
Analysis

Nigeria builds its relations with major world powers

Posted OBG AdminPosted in Uncategorized

With a variety of economic and diplomatic ties linking it with superpowers both old and new, Nigeria has long been a prominent player in both the continental and global arena. While simultaneously pursuing a leadership role on a variety of cooperative initiatives with its West African neighbours, the country’s diplomatic efforts internationally have also largely succeeded in garnering support from…
Analysis

The Central Bank of Nigeria floats the naira

Posted OBG AdminPosted in Uncategorized

With hydrocarbons accounting for 90% of Nigeria’s foreign exchange, sustained low oil prices in 2014 and 2015 reduced the availability of dollars and other major foreign currencies. This reverberated throughout the economy, given the need for dollars to buy imports for key staples ranging from rice to diesel fuels. As a result, Nigeria teetered for months on the edge of a currency crisis,…
Analysis

Nigeria uses international debt markets to fund its budget

Posted OBG AdminPosted in Uncategorized

Nigeria has seen notable success in recent months on global debt markets. In February 2017 the government issued a 15-year, $1bn dollar-denominated eurobond at a yield of 7.9%, which was eight times oversubscribed. The following month it issued an additional $500m eurobond at a yield of 7.5%, testament to the continued appetite for debt in Africa’s largest economy. The February and March…
Analysis

Nigerian government launches its Economic Recovery and Growth Plan

Posted OBG AdminPosted in Uncategorized

In response to Nigeria’s 2016 recession, the government launched the Economic Recovery and Growth Plan (ERGP) in March 2017. The ERGP sets out broad targets ranging from macroeconomic stability to economic diversification and improving governance. It identifies five priority areas: stabilising the macroeconomic environment; achieving agricultural and food security; improving transportation…
Analysis

Nigeria's private sector pushes for finance

Posted OBG AdminPosted in Uncategorized

Financial intermediation – the process of matching savers with borrowers – is a primary function of the banking sector. Intermediation channels excess funds towards productive uses, spreading the risk across a bank’s entire depositor base so no single saver bears the losses in the event of a loan default. However, in Nigeria intermediation is slowing, with lending activity being affected…
Analysis

Increased use of electronic banking in Nigeria

Posted OBG AdminPosted in Uncategorized

While Nigeria’s economy remains largely cash-based, there has been an increased focus since 2012 on reducing inefficient cash transactions. According to the Central Bank of Nigeria (CBN), an excess of currency in circulation has hindered plans to stabilise prices. In addition, the costs associated with currency sorting, cash management, transport and frequent printing have also kept bank…
Analysis

Central Bank of Nigeria increases foreign exchange liquidity in the market

Posted OBG AdminPosted in Uncategorized

A primary issue affecting Nigeria’s economy in recent years has been the decline in foreign reserves, particularly the shortage of US dollars, which have been hit by low oil prices. This slump in the price of oil has caused major complications for the Nigerian economy as a whole, particularly given the increasingly high demand for imports ranging from industrial equipment to food staples. A…