Industry

Nigeria has a varied industrial sector, and although the pandemic disrupted international supply chains and local operations, the performance of some industrial segments in Nigeria bucked the trend. Major projects continue to push ahead, such as Nigeria’s first privately owned oil refinery and new cement plants, while government plans to add greater value to agricultural output kicked off with external financing. The construction of new free zones is also ongoing, providing investors with more opportunities close to seaports and in the hinterlands. Other segments such as metal and cement are poised for growth, with producers to benefit from high local demand. Overall, the government sees industry as a way to diversify receipts and cushion the fallout from future oil price declines.

This chapter contains an interview with Jean-Marc Ricca, Managing Director of BASF West Africa.