When President Muhammadu Buhari took office in 2015, he pledged to increase the country’s crude oil refining capacity, fix state facilities and put an end to expensive fuel imports. The effort to address refining is ongoing; however, as more businesses enter the market, progress on these issues could make private sector involvement a crucial...
Automobile manufacturing is poised for accelerating growth over the medium term, as major carmakers like Nissan, PSA Group and Volkswagen move to revive, expand or build new manufacturing and assembly bases in-country. These firms and their domestic partners should reap the potential dividends of Nigeria’s large and growing automotive market,...
Although the oil and gas sector has driven economic growth in recent decades, Nigerian mining offers considerable potential gains. Home to abundant, untapped reserves, and increasingly the focus of pro-business policies, the sector is poised for robust near- and midterm growth as investors move to capitalise on opportunities in iron ore, gold...
Growth of the population, set to reach 300m by 2030 and 400m by 2050, coupled with an expanding middle class, suggests there is strong growth potential for the fast-moving consumer goods (FMCG) segment, and underscores the fundamental attractiveness of the Nigerian market. In addition to these long-term drivers, manufacturers are set to...
Amid the tentative recovery from recession, the cement market grew rapidly in the first half of 2018, as sales by volume increased by 9.8% over the first half of 2017, from 10.2m tonnes to 11.2m tonnes. The Nigerian manufacturer Dangote Industries led the way in that growth, as sales of locally produced materials grew by roughly 11% between...
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