As Nigeria receives little in the way of mainstream leisure travellers, the tourism sector is represented mainly by the domestic, visiting friends and family (VFF), and corporate travel segments. While the tourism sector faces significant challenges, Nigeria is a market that any travel or hospitality business with serious international and continental ambitions can ill afford to avoid. The...
Having been established in 1991, the State of Osun is one of the younger states in Nigeria, and in recent years the state government has made ambitious efforts to expand and develop the local economy. Named after the River Osun, linked to the Yoruba goddess of fertility, the state was carved out from the former territory of Oyo State during a boundary re-drawing in the 1990s. Over the past two...
In recent years Nigeria has earned a reputation as one of the fastest-growing media markets in Africa. Over the past few decades the nation’s large population – currently estimated at around 170m, according to the World Bank – and rapidly expanding middle class have driven demand for new newspapers, magazines, radio and television programmes, music, film and, more recently, digital media of...
Formal retailing is just getting started in Nigeria, and currently accounts for roughly 5% of the market. There are a host of obstacles to growth, starting with the difficulty of acquiring land on which to establish a mall, store or restaurant. Sourcing goods locally is difficult, while clearing imports is expensive and time consuming. Transporting goods to stores, finding staff and winning...
In spite of the country’s traditional reliance on hydrocarbons, Nigeria’s industrial sector is diversified and growing, ranging from food and beverages to building materials. After a decades-long slump in manufacturing output, triggered by the scaling up of oil production in the 1970s, the country is working to reverse the trend and enable manufacturing and heavy industry to play a larger role...
Over the past decade Nigeria has become the largest telecoms market in Africa and the Middle East, with more than 140m active telecoms subscribers in 2015, according to the Nigerian Communications Commission (NCC), the federal telecoms regulator. As is the case elsewhere in frontier and emerging markets, mobile subscribers accounted for over 99% of this total, with virtually all of that...
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