Industry
From The Report: Nigeria 2022
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Nigeria has a varied industrial sector, and although the pandemic disrupted international supply chains and local operations, the performance of some industrial segments in Nigeria bucked the trend. Major projects continue to push ahead, such as Nigeria’s first privately owned oil refinery and new cement plants, while government plans to add greater value to agricultural output kicked off with external financing. The construction of new free zones is also ongoing, providing investors with more opportunities close to seaports and in the hinterlands. Other segments such as metal and cement are poised for growth, with producers to benefit from high local demand. Overall, the government sees industry as a way to diversify receipts and cushion the fallout from future oil price declines.

This chapter contains an interview with Jean-Marc Ricca, Managing Director of BASF West Africa.

Articles from this Chapter

Overview

Building back better: The government sees industry as a way to diversify receipts and cushion the fallout from future oil price declines
OBG
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Nigeria has a varied industrial sector, evidenced by the number of separate activities tracked as part of the government’s GDP valuations. Despite 2020 being a tough year for many sectors worldwide, two industrial segments that the country is known for posted positive growth. Major projects continue to push ahead, such as Nigeria’s first privately owned oil refinery and new cement plants, while government plans to add greater value to agricultural output kicked off with external financing. The…

Interview

The path forward: Jean-Marc Ricca, Managing Director, BASF West Africa, on supporting long-term manufacturing development
OBG
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Interview: Jean-Marc Ricca In what ways has the Covid-19 pandemic affected industry and consumers in Nigeria? JEAN-MARC RICCA: The economy was already under pressure before the Covid-19 pandemic due to subdued growth, low oil prices and currency issues; and the health crisis exacerbated these issues. However, due to the fact that industry was considered essential, production was not significantly disrupted. While measures related to the lockdown had a negative impact on consumption in the initial…

Analysis

Active collaboration: Government initiatives aim to increase the mining and mineral segment’s contribution to GDP
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The Nigerian landscape holds over 30 types of solid minerals in an identified 450 locations. Deposits span gemstones, metallic ores, energy minerals and construction materials, such as granite. While the mining sector was a mainstay of the economy up until the late 1960s, the focus on oil from that point on has seen the mining’s share of GDP fall to 0.5% in 2019. To diversify economic activity and export composition, the government launched the Roadmap for Solid Minerals in 2016, a three-phase…