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Overview

Efforts at better regulatory enforcement in Nigeria's insurance sector
OBG
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With a growing population of 170m and penetration still low, Nigeria’s insurance sector holds much latent potential in demographics alone. For investors that see an attractive market for insurance in the country, such considerations are enough to outweigh the relatively small size of the sector, as well as the obstacles created by legal and regulatory shortcomings. At present, a large number of…

Overview

Vast energy reserves waiting to be unlocked in Nigeria
OBG
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Still Africa’s largest oil producer, with an industry that in past decades has fuelled the growth of what is now its largest economy, Nigeria has the most voluminous reserves remaining on the continent. Yet it faces steep challenges, from policy uncertainty amid looming legislative reform to output disruptions due to unrest in the Niger Delta, the heart of its producing region. These obstacles have…

Overview

Expanding access to electricity and clean water in Nigeria
OBG
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The lack of power has been among the biggest obstacles to higher levels of economic growth, and Nigeria is in the midst of a long and complex effort to increase electricity supply by more than fivefold by 2020, from the current level of about 3400 MW to 20,000 MW. The immediate result of this is a spike in demand for capital to rehabilitate existing capacity and add new supply, making foreign investment…

Overview

Liberalisation of Nigeria's transport sector set to enhance connectivity
OBG
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Upgrading and developing new transport infrastructure is essential to unlocking Nigeria’s undeniable growth potential. Without adequate infrastructure to move people and goods into and around the country, many of the attributes that make Nigeria a production and consumption base primed for sustained expansion could be negated. Given that state coffers are strained, and multiple sectors are competing…

Overview

State efforts to boost agricultural output in Nigeria
OBG
plus

With the world’s seventh-largest population, which continues to grow rapidly from a base of 170m, agriculture is an exceptionally important element of Nigeria’s economy. After decades of declining production, trends have been moving in the opposite direction in the past several years as overall food supply rises. Guided by the Agricultural Transformation Agenda (ATA), which was launched in 2011…

Overview

Increased demand and investment have driven rapid expansion in Nigeria's construction sector
OBG
plus

In recent years the construction market in Nigeria has been among the world’s fastest growing, forecast to have expanded by 13% in 2014 on the back of a diverse array of demand drivers, including substantial state investment in infrastructure, rising levels of foreign direct investment and rapidly increasing urbanisation rates. According to the National Bureau of Statistics (NBS), the sector made…

Overview

Demand for housing, retail and office space is driving Nigeria's real estate market
OBG
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In the last few years Nigeria’s real estate market has expanded rapidly, continuing a decade-long upward trend fuelled by rising per capita incomes, steadily increasing foreign direct investment (FDI), fast urbanisation and strong corporate demand. According to a January 2015 report by CBO Capital, the sector was valued at N6.4trn ($39bn) and growing at 10% a year. Even though local and foreign developers…

Overview

A handful of mobile operators dominate Nigeria's rapidly expanding telecoms sector
OBG
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Over the past decade Nigeria has become the largest telecoms market in Africa and the Middle East, with more than 140m active telecoms subscribers in 2015, according to the Nigerian Communications Commission (NCC), the federal telecoms regulator. As is the case elsewhere in frontier and emerging markets, mobile subscribers accounted for over 99% of this total, with virtually all of that segment controlled…

Overview

Efforts to ensure Nigeria's technology and IT industries live up to their potential
OBG
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In the past five years Nigeria has grown into one of Africa’s largest and most vibrant markets for ICT products and services, with an ecosystem that ranges from software start-ups to infrastructure firms. According to the Federal Ministry of Communication Technology (FMCT), the federal oversight body, the nation accounts for 29% of all internet usage on the continent, and this figure is expected…

Overview

Opportunities in Nigeria's non-oil industrial sectors
OBG
plus

In spite of the country’s traditional reliance on hydrocarbons, Nigeria’s industrial sector is diversified and growing, ranging from food and beverages to building materials, and catering to a market of over 170m people. After a decades-long slump in manufacturing output, triggered by the scaling up of oil production in the 1970s, the country is working to reverse the trend and enable manufacturing…