Aspiring to join the ranks of the world’s top-20 economies by 2020, Nigeria’s growth trajectory is currently being impeded by one thing above all others: its small and dated electric power system. Government officials are aware of this, however, and solutions are high on the national “to-do” list, with some remedies already well in progress.
Commodities have played a key role in Africa’s growth narrative for centuries, most notably at the Berlin Conference of 1884, when Europe’s imperial powers sought to divide up a continent based in part upon its abundance of natural resources. In the intervening years, African countries have churned out everything from platinum in South Africa to...
As domestic migration and population growth increase the pressure on urban waste management infrastructure, Nigeria’s federal and state-level policymakers are increasingly turning towards the private sector to attract investment and management expertise.
In the second half of July 2012 hopefuls submitted technical and financial bids for 17 of the 18 companies formed from the state-owned Power Holding Company of Nigeria (PHCN). With announcement of the preferred bidders for five out of six generation companies made in September 2012. An accumulated total of over $1bn had been offered for the power...
In terms of electricity production, Nigeria’s power sector faces many challenges. According to June 2012 remarks by Bart Nnaji, the former minister of power, the Power Holding Company of Nigeria (PHCN), which is being unbundled, had debts of N400bn ($2.56bn). With its own plants gas-fired, PHCN had been paying just 50% of what it owed for that gas...
The fate of Nigeria’s economy has long been intertwined with the trajectory of its single-largest export: oil. As a result, the country is sensitive to the ups and downs of the global crude market, which can have significant repercussions on domestic growth and capital accumulation. Oil prices thus play a crucial role in underwriting both the short-...
Stay updated on how some of the world’s most promising markets are being affected by the Covid-19 pandemic, and what actions governments and private businesses are taking to mitigate challenges and ensure their long-term growth story continues.
Register now and also receive a complimentary 2-month licence to the OBG Research Terminal.
Register Here×