Access to power remains one of Nigeria’s chief economic and social issues, with about 90m citizens lacking access to electricity, while the World Bank estimates per capita usage is lower in just eight other countries. Indeed, as the biggest domestic market in Africa, the country has great potential for manufacturing, but most investment in the sector tends to prioritise a steady and reliable...
Nigeria Industry
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Combining oil and gas wealth with the entrepreneurial efforts of its predominantly young population, Nigeria has developed a business-friendly environment over the past two decades of civilian rule. The country has effectively leveraged its abundance of natural resources and harnessed the strength of its 193m-strong population to become a key nation both on the African continent and beyond.
Some of Nigeria’s main cement producers have seen earnings rise on the back of strong demand, but although sustained consumption growth is forecast for the near term, challenges remain in the form of high logistics costs.
Nigeria is proving to be an attractive draw for major manufacturers of fast-moving consumer goods (FMCG), supported by an expanding domestic market and renewed momentum in the broader economy.
Articles & Analysis | New roadmap for Nigeria's mining industry from The Report: Nigeria 2017
Mining is big business in Africa and a cornerstone of many national economies. It accounts for a quarter of GDP in the Democratic Republic of the Congo, and in Botswana the figure has been as high as 40%. Yet despite the huge potential for deposits of precious metals, base metals, coal and iron ore, the Nigerian mining sector contributed only...
Articles & Analysis | Development of local supply chain revitalises Nigeria's textiles industry from The Report: Nigeria 2017
Nigeria once had a thriving textiles industry, but as with so many of its peers across the continent, the sector has suffered under intense competition following the end of the Multi-Fibre Arrangement (MFA), which set rules for the international trade of textiles and garments until 2004. Given the role the MFA played in relation to employment...