NIGERIA Invest in 2012-13 - Newsdesk Media

More documents

Recommendations

Info

24 the policy agenda Realising Nigeria’s investment potential A new road leads from Abuja’s airport to the city centre. Major changes are under way across Nigeria to upgrade critical infrastructure invest in nigeRia 2012-13
Nigeria has experienced a decade of democracy, a credible election in 2011, and is now positioned as one of the world’s fastest-growing economies. Heather McKenzie considers the country’s investment potential in light of the recent transformation policy outlined by President Goodluck Jonathan Between 2003 and 2010, Nigeria recorded average GDP growth of 7.6 per cent, in part driven by an ambitious reform agenda and almost a decade of political stability. With the largest population in Africa – around 167 million people – and significant reserves of natural resources, Nigeria is attracting increasing interest from international investors. The World Bank’s Country Brief on Nigeria states: “With these large reserves of human and natural resources, Nigeria is poised to build a prosperous economy, significantly reduce poverty, and provide health, education and infrastructure services to its population needs.” But there are challenges ahead for Nigeria if it is to fulfil such potential. At a meeting in January 2012, at the London School of Economics, Lamido Sanusi, governor of the Central Bank of Nigeria (CBN), said the Nigerian economy was still plagued by some daunting challenges, despite its robust growth. These challenges, which have slowed down the transmission of growth into higher employment opportunities, include weak links between the main growth drivers of agriculture and manufacturing and the high cost of infrastructure. “The need for low-cost, long-term infrastructure financing requires more than the Central Bank of Nigeria alone can tackle,” he said. “Major bottlenecks and supply-side constraints, including an enabling legal framework, have slowed the responsiveness of some CBN reform measures.” the policy agenda 25 In a developing economy such as Nigeria’s, the central bank should not only offer price stability, but also play a developmental role to support positive economic transformation and rapid growth, he said. In its appraisal report of its economic and power-sector reform programme in Nigeria, the African Development Bank Group (ADB) pointed out that the second-round effects of the global financial crisis and its associated economic downturn had adversely impacted the economic outlook of Nigeria. “This situation still presents tremendous macroeconomic challenges for Nigeria, as oil continues to play a dominant role in the economy, accounting for over 95 per cent of exports and nearly 80 per cent of government revenue. It also threatens the significant gains from reforms successfully implemented by the Federal Government of Nigeria (FGN) since 2003, and the subsequent economic performance achieved so far.” Signs of economic improvement Overall, recent developments indicate that the macroeconomic framework of Nigeria is improving as a result of past successful reforms, the government’s response to the global crisis and the improving external environment, said the ADB. However, major constraints remain and have been exacerbated in the context of the global crisis, it added. Challenges faced by the government include maintaining macroeconomic stability, ensuring the banking sector’s soundness and addressing power-sector bottlenecks. This will create an enabling environment for private activities in order to sustain growth in the non-oil sector, create jobs and reduce poverty. Major changes are under way in the country to diversify the economy beyond petroleum, improve food sufficiency, upgrade critical infrastructure and increase private-sector participation in the economy, says Niyi Yusuf, managing director of consultancy firm Accenture Nigeria. He cites seven important changes that “have the invest in nigeRia 2012-13
Page 1 and 2: Invest in NIGERIA 2012-13 Published
Page 3 and 4: Mubadala is an investment and devel
Page 5 and 6: Invest in NIGERIA 2012-13 Editor La
Page 7 and 8: Trade Facilitation/Development Init
Page 9 and 10: Contents Forewords 16 21 The Policy
Page 11 and 12: 44 Promoting free and fair election
Page 13 and 14: 120 Industrial Infrastructure 124 1
Page 16 and 17: 16 FOREWORD Goodluck Ebele Jonathan
Page 18 and 19: Ahmadu Bello University, Zaria, Nig
Page 20 and 21: since 1989 Rotary kiln incinerators
Page 22 and 23: Pushing boundaries An emerging lead
Page 26 and 27: Foreign policy and the investment e
Page 28 and 29: 28 the policy agenda prospects of l
Page 30 and 31: www.nosakgroup.com Corporate Offi c
Page 32 and 33: 32 the policy agenda Democracy and
Page 34 and 35: Sustainable business, social repons
Page 36 and 37: 36 the policy agenda There is no do
Page 38 and 39: 38 the policy agenda Working to ach
Page 40 and 41: 40 the policy agenda they had sexua
Page 42 and 43: 42 the policy agenda “The improve
Page 44 and 45: 44 the policy agenda Promoting free
Page 46 and 47: 46 the policy agenda The April 2011
Page 48 and 49: 48 the economy and finance Nigeria
Page 50 and 51: Murphy Shipping…………Bridging
Page 52 and 53: 52 the economy and finance has been
Page 54 and 55: Since 1994, Nigeria Inter-Bank Sett
Page 56 and 57: 56 the economy and finance Facts an
Page 58: 58 the economy and finance petroleu
Page 61 and 62: Driving growth through Mobile Money
Page 63 and 64: elevating the country to the upper
Page 65 and 66: Zenith Bank plc Zenith Bank was est
Page 67 and 68: the economy and finance 67 Public r
Page 69 and 70: Improving Nigeria’s electricity n
Page 71 and 72: supply of electricity, though, will
Page 73 and 74: oil, gas and minerals 73 Nigeria’
Page 75 and 76:
aBc Human development consultants l
Page 77 and 78:
oil, gas and minerals 77 The decisi
Page 79 and 80:
Empowering Nigeria Seven Energy Int
Page 81 and 82:
Reliable partner in NIGERIA JASCON
Page 83 and 84:
Crude oil exports by destination, 2
Page 85 and 86:
The leading indigenous suppliers of
Page 87 and 88:
DrillPet International Limited (DIL
Page 89 and 90:
Step on the gas The Nigerian Gas Ma
Page 91 and 92:
The original GMP proposed a gas inf
Page 93 and 94:
Find out more at www.oriental-er.co
Page 95 and 96:
To encourage the participation of l
Page 97 and 98:
NEITI: the Nigerian Extractive Indu
Page 99 and 100:
Cakasa (Nigeria) Company Limited St
Page 101 and 102:
The government has ambitious plans
Page 103 and 104:
Potential for growth The Nigerian g
Page 105 and 106:
Oil and the Niger Delta Nigeria’s
Page 107 and 108:
Shell estimates it has an additiona
Page 109 and 110:
High Voltage transmission sending s
Page 111 and 112:
Despite being rich in natural resou
Page 113 and 114:
HEAD OFFICE POWER GENERATION TRANSM
Page 115 and 116:
former university academic addresse
Page 117 and 118:
Although efforts to bring electrici
Page 119 and 120:
www.ilf.com ILF - Engineering Excel
Page 121 and 122:
of one gigawatt coal-fired power pl
Page 123 and 124:
© 2012 Caterpillar All Rights Rese
Page 125 and 126:
The National Economic Development P
Page 127 and 128:
Vehicle imports General cargo Conta
Page 130 and 131:
Engineering & Construction STEMCO,
Page 132 and 133:
132 INDUSTRIAL INFRASTRUCTURE Suppo
Page 134 and 135:
134 INDUSTRIAL INFRASTRUCTURE One o
Page 136 and 137:
136 SOCIAL INFRASTRUCTURE Populatio
Page 138 and 139:
138 SOCIAL INFRASTRUCTURE Tackling
Page 140 and 141:
140 SOCIAL INFRASTRUCTURE the chanc
Page 142 and 143:
142 SOCIAL INFRASTRUCTURE Healthcar
Page 144 and 145:
144 SOCIAL INFRASTRUCTURE Obstetric
Page 146 and 147:
146 agriculture and water Growing t
Page 148 and 149:
Electrical, Mechanical, Civil, Wate
Page 150 and 151:
150 agriculture and water sesame an
Page 152 and 153:
Siat Group Investment Company in Tr
Page 154 and 155:
154 agriculture and water The devel
Page 156 and 157:
156 media, tourism aNd culture A ri
Page 158 and 159:
158 media, tourism aNd culture The
Page 160 and 161:
160 MEDIA, TOURISM AND CULTURE A ci
Page 162 and 163:
162 MEDIA, TOURISM AND CULTURE Top
Page 164 and 165:
164 DIRECTORY Government ministries
Page 166 and 167:
166 DIRECTORY Tel: 236 0521, 236 05
Page 168 and 169:
168 DIRECTORY United States of Amer
Page 170 and 171:
170 Index of advertisers Aero .....
Page 172:
ffordability - innovation eliabilit
show all

NIGERIA Invest in 2012-13 - Newsdesk Media

Create successful ePaper yourself

Delete template?

Save as template?