Nigeria’s plans to put the private sector at the heart of the next phase of its economic development will be explored in an upcoming report by global research and advisory firm Oxford Business Group (OBG).
The Report: Nigeria 2023 will examine in detail the key sectors of the country’s economy with high growth potential, including agriculture, energy, ICT and industry.
It will also examine the important role played by public-private partnerships in supporting Nigeria’s infrastructure development, with major projects such as the Lekki Free Zone and the Lekki-Epe road among those in the spotlight.
The openings expected to emerge from the African Continental Free Trade Area will be another focal point, with an in-depth analysis of the potential the initiative holds to boost exports and foster new business partnerships.
Other topics to be covered include an ongoing campaign to encourage innovation and the introduction of technological solutions across all economic sectors, with the aim of galvanizing the growth of nascent segments, such as fintech.
Oxford Business Group has signed a new Memorandum of Understanding (MoU) with the Lagos Chamber of Commerce and Industry (LCCI) as it begins work on The Report: Nigeria 2023. As part of the agreement, LCCI will partner with OBG to produce the group’s first post-pandemic analysis of Nigeria’s investment opportunities and economic development, as well as other related content.
The MoU was signed by Wen Qian Chang, Country Manager, OBG, and Chinyere Almona, General Manager, LCCI.
Commenting after the signing, Almona said that OBG’s new report comes at a time when Nigeria is looking to the private sector to unlock the potential of key legislative reforms put in place in recent years and usher in a new era of growth.
“These have been difficult times for Nigeria, with recession and high inflation weighing on the country’s economic performance. However, higher oil prices and an increase in post-Covid remittances combine to improve the outlook,” she said. “Oxford Business Group is known for producing detailed and highly regarded resources on emerging economies and has consistently provided accurate and thorough analysis of Nigeria’s economic development over the years. I look forward to working closely with its representatives to highlight the latest openings in the economy as the country prepares for a new chapter in its growth story.
Chang said she was delighted to have the LCCI on board for Oxford Business Group The 2023 Nigeria Report on Nigeria, with the country looking to build on its strengths, led by an abundant supply of natural resources, a large workforce and a vibrant business scene, in the recovery phase.
“Long a regional power, Nigeria is currently assessing the impact of measures adopted during the pandemic aimed at building resilience and enabling the economy to withstand future shocks,” she said. “The private sector is recognized as the linchpin of Nigeria’s economic power, with businesses ably supported by key organizations such as the Lagos Chamber of Commerce and Industry, which provides a wide range of services aimed at encouraging the innovation and growth. I am delighted that our research into the many emerging investment opportunities in Lagos and beyond will benefit from the local knowledge and expertise of its members.
The Report: Nigeria 2023 will iark the culmination of more than a year of field research by a team of analysts from Oxford Business Group.
It will be an essential guide to the many facets of the country, including its macroeconomics, infrastructure, banks and other sectoral developments. OBG’s publication will also feature contributions from prominent representatives of the public and private sectors.
The Report: Nigeria 2023 will be available online and in print. It will be part of a series of bespoke studies that OBG is currently producing with its partners, alongside other highly relevant research tools including ESG and Future Readiness reports, articles and interviews on growth prospects. and recovery specific to each country.