With the largest population in Africa and one of the continent’s fastest-growing economies, Nigeria has emerged as a prime market for international retailers targeting its 168.8m citizens as potential consumers of processed foods, mobile phones and cars. While almost all retail is currently conducted in informal markets, international chains are...
More than a decade after Nigeria’s telecoms sector was liberalised in the early 2000s, the provision of high-quality, uninterrupted services remains a major challenge for local operators. Dropped calls and other interruptions have become so common in recent years that many mobile subscribers have taken to carrying more than one SIM card and either a...
Nigeria’s reserves are often characterised as a drop of oil in an ocean of natural gas. With total proven natural gas reserves ranging between 182trn standard cu ft (scf), according to BP’s “Statistical Review of World Energy 2013”, and 187trn scf, according to the Nigerian National Petroleum Corporation (NNPC) – making it the world’s ninth largest...
As Nigeria’s upstream mix shifts increasingly offshore, developing onshore assembly and fabrication capacity will be crucial for the floating, production, storage and offloading (FPSO) facilities key to extracting this oil. The local content of FPSOs in Nigeria has gradually increased with FPSOs such as Bonga, Agbami and Usan, yet the Total-operated...
Implementation of the 2010 Nigerian Oil and Gas Industry Content Development Act has raised the share of in-country sector spending, contracting and funding. While international oil companies (IOCs) are making efforts to comply with the act, foreign contractors are increasingly establishing local ventures, and local firms are gaining a larger share...
While growth prospects remain dim in the world’s advanced economies, Nigeria’s position as a key frontier market offers sharply different perspectives. The country has achieved consistently high growth over the past decade, including 7.4% in 2011 and 6.6% in 2012, according to the African Development Bank (AfDB). This expansion makes Nigeria one of...
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