Nigeria

With food security becoming a growing concern worldwide, the Nigerian agriculture sector has recently become the focus of multiple investment programmes. The government is taking a proactive approach to boosting domestic production and has designed a plan to help the nation fulfil its agricultural potential.

While power outages and widespread lack of access to electricity have long been problems in Nigeria, the administration of President Goodluck Jonathan is seeking to breathe new life into the government’s electricity privatisation programme, and an influx of private investment may finally solve the country’s power troubles.

Looking to continue its trend of major capital expenditures, the Nigerian government is planning a debut international bond sale. However, the country’s debt portfolio has reached an all-time high, and some are cautioning that Nigeria scale back borrowing.

Nigeria’s government is intervening to address understaffing at public universities following concerns over funding levels, while the private sector is also being bolstered to meet the country’s educational needs.

Nigeria’s once vibrant textile industry has all but disappeared in recent years under competition from cheaper foreign goods. However, strengthening the real sector of the economy is a central component of the government’s plan to diversify away from hydrocarbons. A large-scale funding programme is in the works to bail out textile companies and promote the manufacturing sector as a whole.

Nigeria’s access to the internet has long been hampered by a shortage of bandwidth, but a trio of new undersea cables is set to greatly improve the country’s connectivity. The first of these went active in July, promising cheaper and more reliable access for the Nigerian market.