Nigeria

In a bid to improve the quality of Nigeria’s universities and ensure that more secondary school graduates opt to attend local rather than foreign institutions, the government has unveiled plans to increase the number of campuses and improve funding for state education initiatives.

It is no secret that China has been increasing its economic links with Africa at an exponential rate in recent years, with hydrocarbons-rich countries such as Nigeria among the chief beneficiaries. The previous decade has seen Abuja concluding multibillion-dollar deals with Beijing-based conglomerates across a variety of sectors. While the relationship does have its critics, China’s role in both trade and investment in Nigeria has become increasingly central – and not only in the oil sector.

Major changes are in the works for the Nigerian aviation sector, with plans to upgrade a number of airports. Officials have also called for a review of the government’s airport concession agreements, with an aim to generate more revenue to support further development of the country’s air travel infrastructure.

Nigeria’s new Sovereign Wealth Fund (SWF), to be established with an initial $1bn in investment, should significantly improve the country’s management of its crude oil earnings. The launch of the new fund, announced recently by the minister of finance, should also provide greater economic stability, improve national infrastructure and boost investor confidence.

As the most populous country in Africa – and one recently experiencing some of the highest and most sustained GDP growth anywhere in the world – Nigeria is going through the early days of a major boom in its retail sector.

After only one year operating, NTA-Star TV Network, a joint venture between state broadcaster Nigerian Television Authority (NTA) and Chinese media company StarTimes, has attracted some 400,000 subscribers to its digital terrestrial television (DTT) service. The company, currently in several major urban areas, plans to expand to more markets across the country within the next five years.