Given Nigeria’s demographics, the country’s retail sector holds significant potential. However, in line with many other African economies, formal retailing remains nascent and accounts for just 5% of all shopping. With 189m consumers in the country, there is ample room for growth, but navigating domestic hurdles has proven difficult. Currency depreciation and rising inflation, combined with a...
Following a difficult 2016 the Nigerian construction sector showed signs of stronger growth in the first half of 2017. The uptick in activity comes on the back of a low base, however, as the country’s first recession in 25 years affected private investment in real estate building and oil companies had to scale back investment plans due to lower global oil prices. The stabilisation of the naira...
With Africa’s largest economy and its biggest population, Nigeria’s growth potential has been widely reported; however, long-term bottlenecks have prevented the country from realising that potential. The transport sector has been identified over the years as one of those bottlenecks. As a result of decades of poor maintenance and underinvestment in new capacity, the sector is marked by...
Despite facing many challenges in 2016, the Nigerian telecoms market continues to grow and offers significant potential for investment. With a population of 189m, this substantial consumer base offers a variety of opportunities for mobile operators, broadband companies and content providers. Furthermore, the government’s intention to use telecoms and ICT not only for economic development, but...
As Nigeria’s economy contracted in 2016, the country’s agriculture sector took on even more importance. Long touted as a remedy to the West African nation’s dependence on oil, agriculture is now seen as a potential economic saviour. Before hydrocarbons became the main source of economic growth and export revenue, agriculture dominated the local economy. A number of indicators have been stalled...
Comprising major food and consumer staples producers, Africa’s largest cement manufacturers, and a handful of heavy industries and light manufacturing, Nigeria has a diversified industrial sector. According to data from the Nigerian Investment Promotion Commission (NIPC), the country is home to the largest manufacturing sector on the continent and, along with Egypt, South Africa and Morocco,...
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