The vast consumer market in Nigeria is attracting a growing number of Western fashion and clothing retailers, despite significant challenges in finding suitable mall rental space or standalone properties. While its large population of over 168m – expected to grow to as much as 433m by 2050 according to UN estimates – has a low average disposable...
The government is leveraging packages of fiscal incentives and one of the world’s fastest-growing mobile phone markets, to entice international mobile phone producers to assemble products locally. As a result of these policies several handset firms, including Africa-focused Mi-Fone and China’s Tecno, have already announced intentions to set up local...
The creation of a sustainable, local ICT industry is a primary long-term objective of the Federal Ministry of Communication Technology (FMCT), which is working to boost Nigerian participation. Local private involvement is also on the rise, as firms work to tap into the rapid expansion of mobile data subscribers. Both the FMCT and the private sector...
As the economy grows, sales of buses, trucks and cars are rising in Nigeria. Automakers are capitalising on the vehicle boom and setting up dealerships across the country, while some firms are taking a stab at local assembly. However, ensuring that the vehicles – whether imported formally or locally produced – can compete with cars sold on the grey...
Vehicle sales in Nigeria are growing rapidly, with automakers seeing double-digit growth over the past year. In order to capture more demand, firms are looking to expand retail detailerships while some are even attempting local assembly. The government has taken steps to support domestic production, but investors say that without greater protections...
The largest contributor to Nigeria’s GDP, the agriculture sector accounted for a 40.1% share as of mid-2013, according to the Nigerian National Bureau of Statistics (NBS). It is also the main source of employment in the country, responsible for more than 60% of jobs, as per figures from the International Fund for Agricultural Development. Increases...
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