In 2016 the government turned its attention to bitumen – also known as asphalt, which is used in road-surfacing – placing the country’s large standalone deposits of the hydrocarbon mixture at the centre of its plans to bolster the extractive industries and support economic diversification and growth. While this has the potential to support...
The retail sector in Nigeria is based on the latent potential of Nigeria’s population, currently estimated at 184m and growing. Firms hoping to cater to that block of consumers must overcome challenges such as finding land to build retail space, importing goods and managing currency risk. The naira, under pressure since the drop in oil prices...
Since Nigeria’s mobile telecoms sector was liberalised in 2001, call quality has improved dramatically, primarily on the back of some $32bn in telecoms-directed investments made by the nation’s four leading mobile operators. This high level of spending has helped turn the 184m-person country into the largest mobile telecoms market in Africa,...
In 2015 and the first half of 2016 mobile data moved to the front and centre of Nigeria’s telecoms sector. In recent years the country’s four established mobile operators – namely the local firm Globacom, the UAE’s Etisalat, South Africa’s MTN and India’s Airtel – have ramped up investment in the development of high-bandwidth mobile data...
One of the most visible policy moves by Nigerian authorities in 2016 has been to limit access to foreign currency in the country. The decision to institute capital controls was rolled out as a result of low oil prices, which have led to a drop in dollar-denominated export revenues and put the naira under increasing pressure. To limit the need...
Over the course of 2015 and 2016 Nigeria’s ICT industry has developed rapidly on the back of state-led growth initiatives and also, increasingly, as a result of rising levels of private sector activity. According to estimates compiled by the Federal Ministry of Communications (FMC), in 2015 ICT-related activities accounted for nearly 11% of...
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