A potential increase in minimum capital requirements for Nigeria’s insurers is currently under discussion, which could have significant consequences for the domestic sector’s ability to underwrite the country’s large oil and gas projects.
Nigeria
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In mid-June the Central Bank of Nigeria (CBN) introduced a flexible interbank exchange rate market, effectively floating the naira in a major departure from historical policy.
A push by Nigeria to boost the production of staple crops, with a particular focus on cassava, should help improve rural development and food security in the 170m-person country.
In May the Nigerian Sovereign Investment Authority (NSIA), in partnership with the federal Ministry of Health (MoH), signed a series of agreements to modernise and expand health care services through private sector participation.
Recent investments demonstrate sustained investor interest in e-commerce platforms in Nigeria, which boasts the continent’s largest population and economy.
A new mobile operator, ntel, commenced 4G LTE services in Lagos and Abuja in early April, increasing competition in the 170m-person telecoms market.