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Following two years of rapid, double-digit gains in its equity market and strong foreign investor appetite in fixed income, Nigeria’s capital markets entered 2014 with the wind at their back, thanks in part to the announcement of a favourable reweighting of the MSCI Frontier Index in 2013. As the portfolio of investable instruments continues to grow with the launch of new platforms, Nigerian...

Nigeria’s banks have been through some challenging times in recent years, but for all their travails, they have turned in an impressive performance and continue to present a compelling narrative to foreign investors. However, the challenging times are not over just yet. West Africa’s largest banking sector – accounting for74% of regional banking assets and now fully recovered from its last...

As the world’s seventh-most-populous country and its 26th-largest economy, Nigeria boasts a medium-sized middle class in absolute, if not relative, terms, and benefits from having had its first peaceful handover of power since 1999 following the presidential electoral victory in March 2015 of Muhammadu Buhari over incumbent Goodluck Jonathan. Although it is on track to become one of the world’...

Nigeria is Africa’s most populous country, the continent’s largest oil producer and a top destination for foreign investment. As of April 2014, Nigeria is now the continent’s largest economy as well, as a result of an overdue revision of its GDP. The revision added a whopping 89% to GDP, while also revealing the true diversity of the economy, with thriving industries such as agriculture,...

Home to an estimated 15.9% of the world’s proven oil reserves, Saudi Arabia is the single largest economy in the Middle East and North Africa. According to the Ministry of Finance, GDP grew by 9.3% to $746bn in 2013. While oil income is expected to continue to account for the majority of government revenues for the foreseeable future, the non-oil sector has expanded significantly in recent...