David Gledhill-CEO-Port of Salalah

The government is looking to expand the role of domestic players in the industry

Four years after the passage of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act in April 2010, the results are clearly visible. In terms of in-country spend, the changes have been especially dramatic, although there is still ample room for Nigerian firms to expand in services, fabrication and integration particularly. The pace of local content expansion may accelerate yet further as the Nigerian Content Development and Monitoring Board (NCDMB) stiffens its enforcement of the act, but it will have to strike a balance between support for domestic service contractors and the need for technology transfer from foreign suppliers and contractors. With a growing

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Éric N’guessan-Managing Partner-EY Côte d’Ivoire

Privatisation of power generation assets in Nigeria

The effort to privatise Nigeria’s electricity sector is far from new – it was discussed as early as the late 1990s and the basics were outlined in the 2001 National Electric Power Policy. The spate of policies rolled out over the past two decades came from different administrations, but share a belief that a healthy national power system – one able to meet domestic needs – is unlikely as long as the government is the owner and operator of the system. That is, in part, because the federal budgeting process spreads money across many areas of need, leaving capital-intensive infrastructure like electricity short of the

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Sheikh Ahmad Duaij Jaber Al Sabah-Chairman-Commercial Bank of Kuwait

Nigeria’s plans to make hydro-electric and solar key power sources

Though the focus for power in Nigeria is on leveraging the country’s considerable gas reserves, there is also a master plan and contribution targets for renewable sources. The plan aims to attract investment in a range of related activities beyond building and running power plants, including equipment manufacturing, feasibility studies and capacity building. For now, Nigeria remains more prospective than productive in renewables, with only hydroelectric energy making a major contribution, at about 20% of installed capacity. Running on Renewables Nigeria has set a target that 18% of total capacity should come from renewables by 2020, according to a state presentation. It is an ambitious

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Daouda Coulibaly-Managing Director-Société Ivoirienne de Banque

Air transport in Nigeria has significant potential for expansion

Despite having the continent’s largest economy and population, and a location at the crossroads of West and Central Africa, Nigeria has yet to capture what some would argue is its rightful position as an aviation hub. As existing airports are overhauled and new terminals constructed, this will change. However, demand-side inhibitors, such as the lack of a national carrier, high airline fees and limited open-skies access must be addressed if the country is to fulfil its potential. Continental Gap Nigeria certainly has catching up to do with the likes of South Africa, Kenya, Ethiopia, Morocco and Egypt – five countries with Africa’s largest national carriers

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Nhon Luc Ly-CEO-AIA Myanmar; Son Nguyen-Country President-Chubb Life Insurance Myanmar; Daw Zarchi Tin-CEO

Projects to boost port capacity and address bureaucratic bottlenecks in Nigeria’s transport sector

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The country is facing a substantial capacity deficit when it comes to meeting the current and predicted demand for cargo volumes. This is set to change with the construction of two new greenfield ports in and around Lagos, in combination with a selection of both ambitious and smaller-scale projects serving the south-east part of the country. As competition to establish regional leadership for port capacity ramps up, mainly from expansive projects taking place in nearby Ghana, Togo and Côte d’Ivoire, Nigeria is also hoping that once its new megaports come on-stream, it too will be able to secure a position as one of the region’s

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Emmanuel Macron-President of France

Reviving Nigeria’s rail network through public-private partnerships

Rail transportation, much neglected for the past half decade, is in the midst of a revival as old lines and assets undergo modernisation and are put up for privatisation, and new infrastructure is concessioned through public-private partnerships (PPPs). Traffic volumes are set to increase with rail looking to secure a position as a key mover of goods and people, as dormant services start up again and new lines are constructed. Rehabilitaion Rail contracts in excess of $3bn have been awarded since 2009, and the Nigerian Railway Corporation (NRC) has been allocated a budget of N104bn ($634.4m) over the past five years. Much of the focus

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Nhon Luc Ly-CEO-AIA Myanmar; Son Nguyen-Country President-Chubb Life Insurance Myanmar; Daw Zarchi Tin-CEO

Value-added production the next step for Nigeria’s agriculture market

With 170m people representing a massive domestic market, and a need to improve the supply stability of raw ingredients, Nigeria hopes that growth in agribusiness will help spur demand for the nation’s farmed output. From 2002 to 2012 sales in the food-processing sector doubled to nearly $20bn, according to a US government report, yet that number represents a market that is in its infancy. Talk of a growing middle class in Nigeria, a key element of the country’s investment thesis, ultimately refers to no more than 15% of the population, depending on individual markets, although with a population this large these are still large markets

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Chaim Zach-Managing Director and CEO-Agric International Technology and Trade; Kabiru Rabiu-Group Executive Director-BUA Group; and Aliyu Abbati Abdulhameed-Managing Director

Agricultural yields in Nigeria rise as global cocoa prices slip

As the world’s fourth-largest producer of cocoa – a crop that may have greater importance on a global scale in the coming years due to a projected shortage – Nigeria has seen growing domestic yields in 2014, albeit at a smaller rate than expected. Cocoa farmers in the country face a number of challenges, including volatile weather, disease and pests, and export difficulties, while processing facilities have been operating well below capacity and remain constrained by a lack of access to financing. However, the government’s Agricultural Transformation Agenda (ATA), launched in 2011, has already had some success in improving the situation. The Cocoa Transformation Agenda

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Daniel Asare-Kyei-CEO-Esoko; Curtis Vanderpuije-CEO-ExpressPay; and Daniel Marfo-General Manager-Zipline Ghana

The industry has come together to urge the passage of a national building code

For the past decade Nigeria’s construction industry has remained lively despite the lack of federal building laws. Though a draft National Building Code (NBC) was introduced in 2006, the legislation has been stuck in government limbo since August of that year. As of early 2015, it had yet to be formally endorsed by the National Assembly. While most of Nigeria’s large contractors abide by international building standards or state building codes, many smaller construction firms do not – a situation that has been linked to the rising number of construction-related incidents in recent years, including several collapsed buildings. In 2013 and 2014, therefore, many industry

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Pham Hong Hai-CEO-HSBC Vietnam

The Nigerian government works to meet rising demand for affordable housing

In January 2014, the Nigerian government announced its establishment of the Nigeria Mortgage Refinance Company (NMRC), a state entity that will provide long-term, low-interest financing to local lenders, to encourage them to ramp up their mortgage offerings for end-users. The new firm is the latest in a long line of affordable housing initiatives the government has launched since 2011. Addressing Nigeria’s acute housing shortage – especially in the low- and middle-end market – has been a major focus over the past half decade. “Developers are currently trying to figure out how to build homes for this market while still turning a profit,” Olufemi Oyinsan, head

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