Nigeria’s GDP growth decelerated in 2022 amid global headwinds, including elevated commodity prices and soaring inflation resulting from Russia’s invasion of Ukraine. The IMF’s GDP growth projection of 3.2% for 2023 is in recognition of the measures Nigeria has undertaken to boost oil production. Nevertheless, the country’s medium-term economic plan, the National Development Plan (NDP) 202
– Several emerging markets have developed internationally known film industries – Streaming services are leveraging local content to expand to new markets – The global industry is receiving funding from more emerging market sources – Many countries are targeting increased investment in local production As audiences return to entertainment in physical venues following the…
Nigeria is the biggest economy in Africa, with GDP of $432.3bn in 2020, according to the World Bank, and home to one of the largest proven oil reserves on the continent. The country has developed an investment-friendly business climate over two decades of civilian rule and in the nearly 60 years since independence, boosted by its oil and gas wealth, and the entrepreneurial spirit of its young popu
Nigeria is continuing to gradually recover from the recession caused by the drop in international oil prices in 2014, with the economy returning to positive growth in 2017 and the IMF estimating that GDP will expand by 1.9% in 2018 and 2.3% in 2019. That said, more remains to be done to achieve economic diversification, and major reforms are expected to be enacted following the general election in
A number of new records set by Nollywood – the colloquial name for Nigeria’s domestic film industry – brought 2016 to a successful close. In the last two weeks of the year The Wedding Party, a locally produced film, broke records for the biggest opening weekend, the biggest week and the highest box office sales total for a Nigerian film, eclipsing the previous record of N178m ($629,000).…
Nigeria’s first news outlet was established in 1859, and the country’s media sector has since grown into a prosperous industry that comprises newspapers, radio broadcasters and television stations, and caters to an audience of over 189m in a variety of languages. As is the case for many media industries around the world, the shift to digital has resulted in changes in Nigeria. Some alterations…
Interview:Jason Njoku What are the main challenges in delivering content to viewers in sub-Saharan Africa? JASON NJOKU: We have found that the lack of affordable and reliable broadband internet has been one of the main challenges in reaching the viewership goals we would like to achieve. In 2015 we decided to de-emphasise the streaming platform of our products, and instead reconfigured our…
Nigeria’s first news outlet was established in 1859, and the country’s media sector has since grown into a prosperous industry that comprises newspapers, radio broadcasters and television stations, and caters to an audience of over 180m in a variety of languages. As is the case for many media industries around the world, the shift to digital has resulted in changes in Nigeria. Some alterations…
Nigeria’s television and broadcasting industry is about to undergo dramatic changes, as the government oversees the process of migrating broadcasting from analogue to digital. While several countries in Africa have switched off their analogue signal, Nigeria is set to become the first country on the continent to transition from analogue to free digital TV. This presents authorities with significant…
Nigeria is the biggest economy in Africa with a GDP of $487bn in 2015, according to the World Bank. The country assumed the mantle of the continent’s largest economy in 2013, following a rebasing exercise. However, its large population means that Nigeria remains a comparatively poor country in per-capita terms, with a lower GDP per capita than several of its sub-Saharan neighbours. Following a r
