In 2017, Nigeria’s Gross Domestic Product (GDP) growth was 0.83% (compared to a decline of 1.58% in 2016). In the second quarter of 2017, the country officially emerged from a recession which had lasted about a year.
Nigeria’s economy is exiting a painful recession, but policy implementation needs to move quickly and comprehensively to facilitate economic recovery and help the country reap its longer-term potential.
A recent report on the Nigerian Mobile Sector by Africa’s leading e-commerce company Jumia, has revealed an 11% increase in the number of Nigerians who visited the Jumia Website via their mobile phones, 79% in 2017 versus 71% in 2016.
The latest West Africa Consumer Confidence Index (CCI) figures released by Nielsen for Quarter 4, 2017 show a marked increase and continued positive performance for both Nigeria and Ghana.
Despite its existence for more than ten years, the Nigerian REITs market is underdeveloped with only three established and with a combined market capitalization of $151 million, or 0.36 per cent of the local stock market.
In Nigeria, international remittance is a critical source of income for the people and has changed their standard of living to a great extent.
General Electric Nigeria today released a whitepaper titled "The Future of Work in Nigeria. Bridging the Skills Gap: The Key to Unlocking Nigeria’s Inherent Potential" as part of the company’s global ‘The Future of Work’ series to highlight the need for investment in sustainable skills development.
Following the flag-off of oil search on the Nasarawa State end of the Benue Trough last week, the Nigerian National Petroleum Corporation has commenced a move to mobilize for oil exploration in the Benue State sector of the Benue Trough.
Despite Nigeria’s retail sector being dominated by independent formats like Open Markets and Kiosks in terms of absolute store numbers, modern trade formats like Supermarkets and Hypermarkets are stepping up to fulfil the needs of consumers.
Based on August 2017 data from STR, Africa currently shows 301 hotel projects in the pipeline, accounting for 57,011 rooms, or 11.0% of the continent’s existing room supply.