Nigeria

Bolstered by the country’s large population and emerging middle class, the growth of Nigeria’s insurance sector appears inevitable with time – especially given the current, extremely limited level of insurance spending. Regulators are pursuing several reforms they hope will speed up the process, and the National Insurance Commission (NAICOM) has initiated changes and...

The last year has seen the launch of several new market platforms in Nigeria, ranging from an alternative board on the Nigerian Stock Exchange (NSE) dedicated to high-growth small and medium-sized enterprises (SMEs) to platforms for trading over-the-counter (OTC) equities and fixed-income securities. The new tools have seen varying levels of success, with the fixedincome...

With a growing population of 170m and penetration still low, Nigeria’s insurance sector holds much latent potential in demographics alone. For investors that see an attractive market for insurance in the country, such considerations are enough to outweigh the relatively small size of the sector, as well as the obstacles created by legal and regulatory shortcomings....

The Company

Oando was listed on the Nigerian Stock Exchange in February 1992 and in 2005 became the first African company to have a cross-border inward listing on the Johannesburg Stock Exchange. In 2012 its upstream business, Oando Energy Resources, became the first indigenously Nigerian firm to be listed on...