Economy Articles & Analysis

Chapter | Economy from The Report: Nigeria 2017

The past few years have been difficult for Africa’s largest economy, with a fall in oil prices from more than $100 per barrel in 2014 to roughly $50 per barrel at the start of 2017 having damaging consequences for Nigeria. The fall in revenues from the country’s largest export-earner led to a slowdown in investment throughout the economy, a ballooning of federal government debt, a rise in non-performing loans in the private sector and high inflation. These factors contributed to the economy contracting 1.5% in 2016, compared to growth of 2.8% in 2015. This marked the country’s first recession in 25 years. The government, which was voted into office in 2015, has made a number of moves to stoke a recovery, with some success. Broader efforts have also been taken to accelerate growth in the coming years, with a focus on import substitution, industrialisation, diversification and export orientation. This chapter contains interviews with Kemi Adeosun, Minister of Finance; Akinwunmi Ambode, Governor of Lagos State; Laoye Jaiyeola, CEO, Nigerian Economic Summit Group; and Yewande Sadiku, Executive Secretary, Nigerian Investment Promotion Commission.

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On the back of efforts to encourage more international business activity, the Philippines registered the highest rate of foreign direct investment (FDI) growth in the ASEAN region last year, with the country hoping to capitalise on the global attention generated by hosting the bloc’s most recent summit to enhance trade and investment flows.

What is your assessment of the potential for Indonesia’s life insurance market?

In what ways has the hygiene and personal care segment in Morocco been developing?

Articles & Analysis | Nigeria's Hotel Listings from The Report: Nigeria 2017

 

HOTEL MOORHOUSE MGALLERY 1 Bankole Oki Road, Ikoyi, Lagos T: (+234) 1 461 5409 - 20 F: (+234) 1 461 5423 www.accorhotels.com; www.mgallery.com h2770-sl1@accor.com Rooms:  Superior rooms, luxury rooms and executive suites, 90 in total. Business & Conference Facilities: 8 meeting rooms with a maximum capacity of 80 people and...

 

ETIQUETTE: Relationships are very important within the business community. Meetings typically open with a handshake, followed by a casual conversation about family, health and travel. In the Muslim north, wait for a woman to extend her hand before offering yours. The business discussion begins at...

 

What reforms has the government instituted, and what more can it do to promote economic growth?