In recent years Nigeria has earned a reputation as one of the fastest growing media markets in Africa. Over the past few decades the nation’s large population – currently estimated at around 170m, according to the World Bank – and rapidly expanding middle class have driven demand for new newspapers, magazines, radio and television programmes, music, film and, more...
Formal retailing is just getting started in Nigeria, and currently accounts for roughly 5% of the whole market. There are a host of obstacles to growth, starting with the difficulty of acquiring land on which to establish a mall, store or restaurant. Sourcing goods locally is difficult, while clearing imports is expensive and time-consuming. Transporting goods to stores...
Despite the challenges inherent in retailing in Nigeria, the quick-service restaurants (QSR) segment has been growing rapidly. Like many areas of the economy, its long-term potential stands out in a global context because of Nigeria’s sizeable population, currently standing at around 170m. But while investors in most consumer-facing industries are expecting smaller...
Thanks to a new policy on automobile imports and key foreign investment, passenger cars are being produced in Nigeria for the first time in decades, and could lead to a domestic automotive assembly industry in the country. While a small trickle of commercial vehicles have been assembled in Nigeria in recent years by local manufacturers such as Innoson Group, the first-to...
In spite of the country’s traditional reliance on hydrocarbons, Nigeria’s industrial sector is diversified and growing, ranging from food and beverages to building materials, and catering to a market of over 170m people. After a decades-long slump in manufacturing output, triggered by the scaling up of oil production in the 1970s, the country is working to reverse the...
The National Information Technology Development Agency (NITDA) held Nigeria’s first National Outsourcing Conference in August 2011. The event marked a major push by Nigeria to carve out space in the business processing outsourcing (BPO) sector. The rationale behind this is clear. BPO firms are major employers in markets like India and the Philippines – a key...
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