Agriculture played an important role in driving Nigeria’s economic growth prior to the discovery of crude oil in 1956. Indeed, between 1962 and 1968 the main source of foreign exchange was export crops. In more recent times, focus has returned to the agriculture sector as an important source of revenue as the country seeks to diversify the...
The Nigerian landscape holds over 30 types of solid minerals in an identified 450 locations. Deposits span gemstones, metallic ores, energy minerals and construction materials, such as granite. While the mining sector was a mainstay of the economy up until the late 1960s, the focus on oil from that point on has seen the mining’s share of GDP...
Nigeria has a varied industrial sector, evidenced by the number of separate activities tracked as part of the government’s GDP valuations. Despite 2020 being a tough year for many sectors worldwide, two industrial segments that the country is known for posted positive growth. Major projects continue to push ahead, such as Nigeria’s first...
Nigeria is Africa’s top oil producer and possesses the largest proven gas reserves on the continent, making it a key player in the global energy market. However, despite its wealth of resources, the country is unable to meet domestic demand and has one of the lowest net electricity generation rates per capita in the world. The nationwide...
Nigeria’s capital markets ecosystem has made significant developmental progress in the last 10 years by growing the type of tradeable instruments and number of platforms available to carry out activity, which has brought more investors to the market. The years since 2017 have seen a particular push to diversify and strengthen the markets, and...
The year 2020 was a dramatic one for the global energy sector, with the Covid-19 pandemic slashing demand for hydrocarbons and upending market norms. Seeing that investment in oil took a hit while renewable energy remained resilient, some stakeholders expect the pandemic to result in a permanent realignment of the international energy market...
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