Nigeria

The Nigerian retail market remains fragmented and dependent on informal sales channels such as neighbourhood markets and kiosks, which account for 90% of retail activity. As in most emerging markets, the bulk of household expenditure in Nigeria is directed towards food. But with traditional in-person shopping limited by lockdowns, and many households facing tighter budgets, the sector...

Nigeria is one of Africa’s largest ICT markets in terms of its share of telecoms subscribers and internet users, and this sector is set to grow in 2021, even as other areas of the economy remain constrained by the pandemic. ICT is being prioritised as part of the country’s longer-term goal of developing a digital economy supported by its large, youthful population. Indeed, the government has...

In recent years focus has returned to agriculture as an important source of revenue for a diversified Nigerian economy. But despite the sector’s robust performance, the...

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...

Nigeria is Africa’s top oil producer and possesses the largest proven gas reserves on the continent, making it a key player in the global energy market. However, despite its wealth of resources, the country has been unable to meet domestic demand and has one of the lowest net electricity generation rates per capita in the world. The pandemic aggravated this trend, as 2020 saw a steady decline...

Both Nigeria’s banking system and capital markets have seen significant changes over the course of recent years. Indeed, measures implemented...