Nigeria

With a population of over 200m, Nigeria is a large and diversified economy, despite the government’s reliance on oil and gas revenue. While the Covid-19 pandemic and subsequent oil price crash caused a contraction in economic growth in 2020, it also led to rapid digitalisation across commerce, education and communication. This shift is expected to put Nigeria in a favourable position for recovery in the medium term.

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Financial technology (fintech) has been gaining momentum in Nigeria as start-ups look to create innovative solutions to fill socio-economic gaps such as exclusion from the formal banking system. An estimated 56% of Nigerian adults are unbanked and 36.8% do not have access to financial services. The country’s more than 200 fintech firms – which...

The authorities have been working for years to ease the burden of non-performing loans (NPLs) on the financial system. In 2009, in part due to the global financial crisis, the Central Bank of Nigeria (CBN) bailed out eight distressed lenders by injecting $4bn into the market. The Asset Management Corporation of Nigeria (AMCON) was formed the...

EKO HOTELS & SUITES 1415 Adetokunbo Ademola Street, Victoria Island T: (+234) 1 277 2700-25 reservation@ekohotels.com www.ekohotels.com Rooms: 824 rooms, including superior rooms, luxury rooms and executive suites. Business & Conference Facilities: Largest convention centre in Nigeria, 350-person ballroom and various meeting rooms. Health & Leisure...

With a population of more than 200m across 250 ethnic groups, a fast-growing youth cohort, and high levels of poverty and unemployment, Nigeria has prioritised delivering quality education – although this also remains one of the government’s biggest challenges. A pressing concern for the sector is underfunding, with the authorities unable to meet investment targets related to...

National reforms leading to the unbundling and privatisation of Nigeria’s Power Holding Company in 2013 resulted in the creation of the privately owned distribution firm Kaduna Electric, which is licensed to supply power in the state. At the same time the Kaduna Power Supply Company (KAPSCO), fully owned by the Kaduna government, was created to undertake energy initiatives in...

State authorities have worked to develop Kaduna’s infrastructure and business climate in recent years, identifying them essential to sustainable growth. The Kaduna State Infrastructure Master Plan (KADIMP) 2018-50 is the state’s long-term strategy for coordinated infrastructure development. The plan lays out interventions in the key sectors of transportation, housing,...

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