A major policy rethink for Nigeria’s cement sector is set to steer the industry in a new direction aimed at building up an export market and improving competitiveness.
Nigeria Industry
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As the latest step in the country’s long march to encourage diversification, the Nigerian government has been facing a growing chorus of calls to step up efforts to support the manufacturing sector and reverse the decline the labour-intensive industry has been experiencing for some 20 years. However, any turnaround will require high levels of investment from both the public and private sectors.
With the National Bureau of Statistics(NBS) recording a real GDP growth rate, on an aggregatebasis, of 7.13% in the first quarter of 2011, and a slightly lower 6.17% for the same quarter in 2012, Nigeria boasts the continent’s second-largest economy after South Africa. Africa’s largest oil producer, Nigeria is the third-largest recipient of foreign direct investment in the continent after Angola and Egypt, according to the US Diplomatic Mission.
Interviews & Viewpoints | OBG talks to Oba Otudeko, Chairman, Honeywell Group from The Report: Nigeria 2012
by attracting investment for adequate refining capacity to produce different types of fuel for local consumption and export. The act has therefore thrown open a number of very significant business opportunities.
What are keys to mitigating imported inflation and exchange rate fluctuations?
Articles & Analysis | Recognising potential: The government promotes manufacturing while the private sector invests in some key projects from The Report: Nigeria 2012
With its large population, its GDP still showing growth in the high-single digits in a recession-haunted world and its vast if underexploited natural resources, Nigeria is an attractive but challenging market for industrial firms. The sector is still quite small overall, accounting for less than 1% of GDP. Some fields are expanding rapidly, while...
Interviews & Viewpoints | OBG talks to Olusegun Aganga, Minister of Trade and Investment from The Report: Nigeria 2012
What are some of the effects you anticipate an environmental protection act (EPA) would have on the country’s production capacity?