Nigeria

On the back of a massive clean up of the banking sector, Nigeria's insurance regulator, the Nigerian Insurance Commission (NAICOM), is looking to reform its own industry.

The year 2009 is shaping up as a transitional one for Nigerian capital markets, with investors still cautiously trading as the effects of slower economic growth and restructuring in the dominant banking sector play out.

Wide-sweeping changes to Nigeria's energy sector are under review as the federal government considers concerns from international oil companies over a reform bill meant to modernise the sector and improve transparency.

Having been an early convert to the cause of information and communications technology (ICT), both as a tool of the economy and a sector in its own right, Dubai is looking to maintain its edge over regional rivals

The new head of Nigeria's Central Bank announced his presence by calling for a probe into the health of the country's banking system. An Economic and Financial Crimes Commission investigation initiated by the Central Bank governer, Lamido Sanusi, identified five banks with non-performing loans totalling N1.14trn ($7.4bn). A transparency push of this magnitude, unprecedented for Africa, is a sign that that the new governor takes banking reform seriously, and it could lead to comprehensive sector restructuring.

The Nigerian government has reaffirmed its commitment to extending the partial privatisation of the nation's airports, despite lingering doubts over the profitability of Nigeria's 17 remaining state-controlled airports, as it seeks to boost flight frequency and arrival figures.