Securing appropriate funding for Nigeria’s education ecosystem remains one of the sector’s most important goals, and is key to improving outcomes. Underinvestment has created knock-on effects for the nation’s employment rate, with the private sector struggling to find qualified workers. More than half of all wage-paying jobs in the country are in the public sector –...
Nigeria has prioritised improving its business climate in recent years, with an emphasis on developing its logistics and trade facilities. These efforts have paid off, with the country having the 10th-most improved ranking in the 2020 edition of the World Bank’s ease of doing business index. Improving 15 places from 2019, Nigeria’s overall score placed it 131st out of 190...
After growth of 1-2% per year between 2017 and 2019, in 2020 the Nigerian construction sector contracted for the first time since 2016, when the economy last entered a recession. The government launched the Economic Recovery and Growth Plan (ERGP) 2017-20 at that time to reinvigorate the economy by prioritising infrastructure investment, among...
In early 2021 the government launched a slate of major projects to help bridge Nigeria’s infrastructure gap. In support of this, the country’s leaders created the Infrastructure Corporation of Nigeria, or InfraCorp, in February of that year: a public-private fund to finance critical infrastructure such as railways and roads. The construction...
Even as the authorities work to create more opportunities for Nigerians to own affordable homes, mortgage penetration continues to be low. The ratio of outstanding mortgages to GDP was 0.5% in 2020 – up from 0.2% in 2019 – compared to 18.9% in Namibia, 16.2% in South Africa, 10.2% in Tunisia, 2.2% in Kenya and 1.6% in Ghana, according to the...
Nigeria’s transport network has expanded in recent years to accommodate a growing population. The transport and storage sector was valued at N2.6trn ($6.9bn) in current basic prices in 2020, down from N3trn ($8bn) in 2019, according to the National Bureau of Statistics (NBS). This was reflected in a lower contribution to GDP, at 1.8% in the fourth quarter of 2020, down from 2....
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