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Analysis

Renovations to oil refineries in Nigeria’s Delta State to help meet demand
OBG
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Delta State’s energy sector has historically been dominated by hydrocarbons due to its position in the oil-rich Niger Delta. The Nigeria Extractive Industries Transparency Initiative, the country’s oil industry auditor, estimated that Nigeria earned $741.5bn from oil and gas between 1999 and 2020. In recent years the Delta State government has been working to diversify away from its reliance on…

Analysis

Emphasis on health and education infrastructure to drive growth in Nigeria’s Delta State
OBG
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The path to universal health care coverage in Delta State began in February 2016 with the establishment of the Delta State Contributory Health Scheme (DSCHS) under the oversight of the Delta State Contributory Health Commission (DSCHC), which aims to help the state achieve its long-term goal of reaching universal health coverage. As of March 2023 some 1.3m residents were covered by the DSCHS – or…

Analysis

How Nigeria’s Delta State aims to boost the non-oil sector
OBG
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Delta State has the third largest economy in Nigeria, valued at roughly $14.5bn-15bn, according to a report published in November 2022 by the then-governor’s office. However, the report indicated that the state has experienced significant levels of unemployment, citing a rate of 31% in 2020. Nigeria’s National Bureau of Statistics’ (NBS) “Labour Force Statistics: Unemployment and Underemployment…

Analysis

What is the role of transport in plans for urban redevelopment in Nigeria’s Delta State
OBG
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Delta State has undergone significant urban renewal and infrastructure development in recent years. This has manifested in the construction of roads and bridges, linking rural areas and riverside communities with urban centres, and thus stimulating intra- and inter-state trade. Ensuring metropolitan areas are designed to accommodate growth is another priority. Improvements have been made to urban centres,…

Overview

How Nigeria aims to boost multi-modal transport integration
OBG
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The transport sector has become increasingly integrated with Nigeria’s general economy. With a fast-growing population of over 218.5m people as of July 2022, and the need to move huge amounts of natural resources and merchandise to support mining, agriculture, energy and manufacturing activities, one of the greatest challenges facing the sector is expanding transport infrastructure to keep pace with…

Overview

Economic diversification drives real estate growth in Nigeria
OBG
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Nigeria’s real estate sector is showing signs of revival following the negative impacts of the Covid-19 pandemic. The upward trend in sector activity is expected to continue in the coming years, with the government keen to secure private investment and public-private partnerships in order to boost infrastructure, especially affordable housing construction. The sector was significantly affected…

Overview

What is expected to drive construction growth in Nigeria
OBG
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Following a slowdown preceding the Covid-19 pandemic, Nigeria’s construction sector contracted in 2020, in line with the cessation of global economic activities. In the years since the start of the health crisis, the government has shown a renewed focus on infrastructure in recognition of its importance to broad-based economic stability and expansion. By prioritising critical sectors such as transport,…

Overview

Booming population and e-commerce in Nigeria spur innovation in retail
OBG
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With a population of nearly 255.8m as of November 2022, Nigeria boasts Africa’s largest consumer market, with retail being a key contributor to GDP second only to oil. The presence of formal retail outlets has undergone notable expansion since the turn of the century, and more space is set to come online in 2023. However, informal retail establishments still dominate the sector. Issues such as inflation,…

Overview

Enhanced connectivity and start-ups central to ICT growth in Nigeria
OBG
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A strong ICT ecosystem provides the foundation for an efficient modern economy, significantly enhancing business procedures, public services and job creation. With this in mind, Nigeria’s government is following a long-term development blueprint with the aim of harnessing digital technological capabilities to diversify the economy and reduce dependence on hydrocarbons revenue. Sector-specific strategies…

Overview

How Nigeria aims to increase agriculture’s contribution to the economy
OBG
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Contributing nearly 25% to GDP and employing 70% of the workforce, agriculture is both a key area of the economy and a way of life for Nigerians. Indeed, the agriculture sector was the country’s main export earner until oil and gas production became Nigeria’s economic mainstay. Since then, however, the country has become a net food importer. Key segments include livestock, forestry and fisheries.…