Nigeria has prioritised improving its business climate in recent years, with an emphasis on developing its logistics and trade facilities. These efforts have paid off, with the country having the 10th-most improved ranking in the 2020 edition of the World Bank’s ease of doing business index. Improving 15 places from 2019, Nigeria’s overall score placed it 131st out of 190 countries in 2020 on the…
Interview:Emmanuel Ezenwere To what extent will drones impact the Nigerian economy in the near future? EMMANUEL EZENWERE: First of all, I envision drones will have a large impact on the health sector, making vital medical supplies more accessible to hospitals and primary health care centres that can not adequately store blood, certain vaccines and medicines. The capacity to transport medical…
Although transport networks have historically been underfunded, the government is prioritising their development, as enhanced connectivity is key to supporting growth in non-oil sectors. Demand for transport is set to rebound in the second half of 2021 as the economy reopens and the African Continental Free Trade Area is in force. The most significant gains in the coming years are expected in the road…
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’s transport network has expanded in recent years to accommodate a growing population. The transport and storage sector was valued at N2.6trn ($6.9bn) in current basic prices in 2020, down from N3trn ($8bn) in 2019, according to the National Bureau of Statistics (NBS). This was reflected in a lower contribution to GDP, at 1.8% in the fourth quarter of 2020, down from 2.1% during the same period…
After raising $30m in a recent round of financing, a Nigerian start-up is looking to revolutionise the country’s transport and logistics sector. Freight logistics start-up Kobo360 uses an Uber-like app to organise freight trucking services. In mid-August it announced that it had generated $20m in a Series A funding round led by US investment bank Goldman Sachs. This investment – the fifth largest…
As West African port and rail authorities collaborate to dramatically expand facilities and improve hinterland connections, the potential of the region’s economy grows exponentially. The West African Ports and Rail Evolution event is designed for transport authorities, terminal operators, shipping lines, bulk exporters, investors and governments looking to optimize operations and engage in new economic…
With investment in new airport infrastructure ongoing, the government is undertaking a series of policy and regulatory reforms aimed at improving aviation operations and following international best practice. Chief among these is a recent move to join the Single African Air Transport Market (SAATM), an agreement among 23 African nations to liberalise their aviation markets in support of increased…
Accounting for the majority of passenger and freight movements, Nigeria’s road network plays a critical role in domestic transport and international trade, although the bulk of its network remains in poor condition and unpaved, a challenge exacerbated by rising traffic volumes. Chronic congestion has had major economic ramifications for the country. The government is taking bold steps to…
Interview:Hassan Bello In what ways will the new National Transport Commission (NTC) impact transport regulation? HASSAN BELLO: The new NTC will replace the NSC as regulator of the transport sector. It aims to take a multisectoral approach in attracting private sector investment in developing transport infrastructure. Until now, the government has taken the lead in port, road and especially…