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Analysis

Investment opportunities in a number of sectors in Nigeria's Osun State
OBG
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Even with such a large income-sensitive population, few markets in Africa offer the potential scale and consumer base as Nigeria, which makes the country a natural destination for manufacturers and industrial firms looking to gain a foothold in the region. High operating costs and cheap unregulated imports have traditionally made it difficult for producers to ensure cost-efficiencies and have dampened…

Analysis

Boosting economic development and facilitating investment in Nigeria's Osun State
OBG
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While it lacks the hydrocarbon resources of Nigeria’s Delta states and, with a modest population, has traditionally received one of the lowest amounts of revenue allocation from federal government, the State of Osun has nonetheless been aggressive about working to promote growth and development. Although Osun does face its fair share of challenges, including a large dependency on the volatile agricultural…

Analysis

Transport and infrastructure upgrades in Nigeria's Osun State aim to enhance capacity and efficiency
OBG
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As part of the State of Osun’s public capital spending campaign, transport and water infrastructure are slated for a host of upgrades in terms of capacity and efficiency, while national initiatives to boost power provision and telecoms coverage should also benefit the local population. The state of infrastructure in Nigeria is a common concern for all levels of government, but there have been a host…

Analysis

Better use of ICT resources in Nigeria's education sector a key part of strategy
OBG
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As part of a wide-ranging effort to prepare young Nigerians for the digital economy, expanding the use of ICT throughout the education system was a key component of the 10-year Strategic Education Plan (SEP), launched in 2007 by the Federal Ministry of Education. The SEP has laid out a number of technology-related objectives for the sector, including the achievement of 100% computer literacy among…

Analysis

Changes to tax regulations in Nigeria raise the level of enforcement
OBG
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Nigeria undertook a rebasing exercise of its GDP in 2014. This brings into sharper focus the very low taxrevenue-to-GDP ratio, which is now about 8% and a much lower ratio of 4% for non-oil taxes. There is pressure on the government to improve the ratio, but in reality this is not a quick fix. It will require a broad-based approach to address the complexity of tax administration, the ambiguities in…

Overview

Democratic transfer of power in Nigeria as the opposition wins the 2015 presidential elections
OBG
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Nigeria is in the midst of its third and longest attempt at sustained democratic rule, with the latest landmark coming with the 2015 presidential election, which saw the country’s first peaceful handover of power in more than three decades. The March poll, which involved a new biometric identity system, saw Muhammadu Buhari, a candidate from the All Progressives Congress (APC), an umbrella opposition…

Overview

Nigeria's economy growing despite various challenges
OBG
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There is no shortage of superlatives to describe Nigeria. It is Africa’s most populous country, the continent’s largest oil producer and a top destination for foreign investment. As of April 2014, Nigeria is now the continent’s largest economy as well, as a result of an overdue revision in its GDP calculation. The revision added a whopping 89% to GDP, while also revealing the true diversity…

Overview

Nigeria's banking sector looking ever healthier after recovering from the last crisis
OBG
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Nigeria’s banks have been through some challenging times in recent years, but for all their travails, they have turned in an impressive performance and continue to present a compelling narrative to foreign investors. However, the challenging times are not over just yet. West Africa’s largest banking sector – accounting for 74% of regional banking assets and now fully recovered from its last crisis…

Overview

GDP rebasing in Nigeria improves rankings but inequality still an issue
OBG
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Fresh from a rebasing exercise in April 2014 that boosted 2013 GDP by 89% to $509.97bn, Nigeria now ranks not only as Africa’s most populous country, but also its largest economy. It has long played an outsized regional role, making up 76% of West Africa’s GDP and around 60% of its population. Despite concerns linked to short-term and cyclical risks, including unequal development, policy uncertainty,…

Overview

Nigeria's capital markets poised for expansion
OBG
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Following two years of rapid, double-digit gains in its equity market and strong foreign investor appetite in fixed income, Nigeria’s capital markets entered 2014 with the wind at their back, thanks in part to the announcement of a favourable reweighting of the MSCI Frontier Index in 2013. The exchange was buffeted by both global and local factors in 2014, however, including the tapering of the…