One of the most visible policy moves by Nigerian authorities in 2016 has been to limit access to foreign currency in the country. The decision to institute capital controls was rolled out as a result of low oil prices, which have led to a drop in dollar-denominated export revenues and put the naira under increasing pressure. To limit the need...
In 2015 and the first half of 2016 mobile data moved to the front and centre of Nigeria’s telecoms sector. In recent years the country’s four established mobile operators – namely the local firm Globacom, the UAE’s Etisalat, South Africa’s MTN and India’s Airtel – have ramped up investment in the development of high-bandwidth mobile data...
The global trend towards more open trade has in recent years faced a number of setbacks, ranging from stalled World Trade Organisation talks to rising protectionism and the UK’s vote to leave the EU. Nigeria is no exception, where a push to increase import substitution, which is intended to reverse a decline in foreign exchange and reduce the...
The industrial sector of what is arguably Africa’s largest economy is a diversified group of producers and outputs, ranging from the large-scale cement plants of Dangote Group, the continent’s largest cement producer, to cottage industries such as plantain chips. With a wide range of accessible feedstock, from agricultural products to...
Over the course of 2015 and 2016 Nigeria’s ICT industry has developed rapidly on the back of state-led growth initiatives and also, increasingly, as a result of rising levels of private sector activity. According to estimates compiled by the Federal Ministry of Communications (FMC), in 2015 ICT-related activities accounted for nearly 11% of...
As both the largest market in Africa in terms of value and population, and a major rising player in ICT uptake and investment, Nigeria’s reputation as a centre for technology start-ups and innovation-driven development has progressed rapidly. One of the major drivers for this is the enormous domestic demand. In June 2016 the country was home...
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