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Nigeria’s transport network has expanded in recent years to accommodate a growing population. The transport and storage sector was valued at N2.6trn ($6.9bn) in current basic prices in 2020, down from N3trn ($8bn) in 2019, according to the National Bureau of Statistics (NBS). This was reflected in a lower contribution to GDP, at 1.8% in the fourth quarter of 2020, down from 2....

Nigeria’s real estate sector experienced a challenging 2020 in line with broader economic trends, characterised by a drop in demand, movement restrictions and global supply chain disruptions associated with the Covid-19 pandemic. The health crisis resulted in various negative effects across almost all real estate segments: commercial...

Even as the authorities work to create more opportunities for Nigerians to own affordable homes, mortgage penetration continues to be low. The ratio of outstanding mortgages to GDP was 0.5% in 2020 – up from 0.2% in 2019 – compared to 18.9% in Namibia, 16.2% in South Africa, 10.2% in Tunisia, 2.2% in Kenya and 1.6% in Ghana, according to the...

Home to the largest consumer market on the continent, Nigeria offers attractive opportunities for investors and retailers that apply growth strategies tailored to specific consumer preferences and take into account distribution challenges. While macroeconomic headwinds and currency volatility have weighed on consumer spending power in recent...