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Nigeria’s banking sector is highly diverse, with large players that follow a universal banking model and smaller actors that cater to certain niches. A regulatory push to consolidate the sector has helped to deepen banks’ ability to lend and fuel economic expansion – an important role for the sector to continue to play as the country recovers...

The Covid-19 pandemic and the corresponding drop in global oil prices caused both a recession and lower inbound investment in the early months of the health crisis in Nigeria. However, GDP and investment figures improved as the economy reopened. Foreign investors shied away from many emerging markets in the early months of 2020 as the pandemic...

Nigeria is home to Africa’s largest economy and population, and is an engine for growth in the continent. While the government is largely reliant on oil and gas revenue, the economy itself is more diversified. Indeed, the non-oil sector accounted for 90.8% of real GDP in the first quarter of 2021. Services were the largest contributor to...