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Overview

Strengthening local supply chains to help Nigeria reduce reliance on imports
OBG
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The industrial sector is a key contributor to Nigeria’s GDP, though the impact of the Covid-19 pandemic has weighed on growth in recent years. These effects have been particularly notable in the oil industry – one of the most important segments, given that crude oil exports are the largest contributor to the economy. Oil production was more heavily impacted than any other segment during the crisis,…

Overview

Energy infrastructure enhancements boost Nigeria’s capacity
OBG
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Nigeria remains a key global energy player, exporting significant amounts of crude oil and natural gas. In 2021 it had Africa’s second-largest proven crude oil reserves – at 36.9bn barrels – after Libya. Although the export of hydrocarbons has gradually become a key source of revenue, wider economic headwinds and governance challenges have continued to impede the full development of the energy…

Overview

Nigeria aims to boost insurance penetration and offerings
OBG
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Despite decades of activity, Nigeria’s insurance sector is still largely underexplored, with the industry’s penetration at less than 1% of GDP as of March 2022. The country’s demographic growth – the population is forecast to surpass 233m people by 2025 – combined with its growing economy makes the insurance sector ripe for a significant expansion in the years to come. To unlock its potential,…
Interview

Yomi Olugbenro, Partner and West Africa Tax Leader, Deloitte Nigeria: Interview
OBG
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Interview:Yomi Olugbenro How can businesses stay abreast of the numerous changes in the country’s tax laws? YOMI OLUGBENRO: The updates to tax legislation are necessary because they help to align the laws with current realities. To stay abreast of these revisions, finance officers should undertake continuous training through webinars, and participate in capacity-building programmes and workshops…
Interview

Pieter Slabberts, Managing Director, Eurapharma Care Services: Interview
OBG
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Interview:Pieter Slabberts In what ways can increased investment in Nigeria’s health care sector benefit the country? PIETER SLABBERTS: Increased investment in Nigeria’s health care infrastructure has the potential to solve two of Nigeria’s immediate challenges: unemployment and insecurity. A high number of gainfully employed Nigerians will likely diminish the recruitment pool for crime…
Interview

Muhammad Inuwa Yahaya, Governor, Gombe State: Interview
OBG
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Interview:Muhammad Inuwa Yahaya What is your evaluation of the current economic situation in Gombe State? MUHAMMAD INUWA YAHAYA: The economic landscape has improved in recent years across several key indicators. The state’s debt, for example, is at a sustainable level following the settlement of over 30% of legacy pension liabilities. Moreover, all local governments have maintained positive…
Interview

Ifeanyi Okowa, Former Governor, Delta State: Interview
OBG
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Interview: Ifeanyi Okowa What factors are improving the international investment outlook for Delta State? IFEANYI OKOWA: The level of security that Delta State has enjoyed since 2015 remains central to our development agenda. The Peace Building and Advisory Council as well as the Advocacy Committee Against Vandalism of Oil and Gas Facilities – convened in August 2015 and May 2016, respectively –…
Interview

Adetayo Bamiduro, CEO and Co-Founder, MAX: Interview
OBG
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Interview: Adetayo Bamiduro How has digitalisation transformed the transport and logistics landscape in Nigeria? ADETAYO BAMIDURO: Transport networks in Nigeria have traditionally been informal, which in turn has resulted in a paucity of organisation and transparency. This has made it difficult to keep track of financial flows, and has entrenched the activities of special interest groups. Technology…
Interview

Kingsley Muwowo, CFO, Shelter Afrique: Interview
OBG
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Interview:Kingsley Muwowo How do you assess the efforts of the public and private sectors to reduce the housing deficit? KINGSLEY MUWOWO: The availability and cost of housing require a specific and measurable redress policy. The federal government is taking the initiative by embracing public-private partnerships (PPPs). This model recognises that a key component of affordable housing is the cost…
Interview

Attahiru Bala Usman, Managing Director, Allott Nigeria: Interview
OBG
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Interview:Attahiru Bala Usman How would you assess the quality of local firms that are working on key infrastructure projects? ATTAHIRU BALA USMAN: The quality of local technical consulting has improved tremendously, enabling Nigerian offshoots of international firms to become fully indigenous. This has led to reduced reliance on foreign expertise to execute key phases of large infrastructure…