Tag Archives: economics

Emir Sanusi: Northern #Nigeria Needs Economic “Marshall Plan”


Interview with the new Emir of Kano Muhammed Sanusi II (AKA Sanusi Lamido Sanusi) about the Boko Haram insurgency in northern Nigeria.

Key points made by Sanusi:

  • Islam “preaches education for all adherents”.
  • Marrying young Muslim girls off at a young age is actually a cultural (not Islamic) practice “that is not consistent with the teachings of the (Muslim) religion)”.
  • Poverty level in northern Nigeria provides a fertile breeding ground for militancy. Says the same thing happened in the Niger Delta.
  • Boko Haram insurgency must be tackled via an economic “Marshall Plan” for northern Nigeria.
  • Says insurgency calmed down in Kano because of investment in infrastructure there.
  • “As long as people as gainfully employed they are not likely to jump into the bandwagon of insurgency”.

http://www.bbc.com/news/world-africa-29221283

The McKinsey Report on Nigeria’s Economic Growth


MGI_Nigerias_renewal_Full_report

 

http://www.mckinsey.com/insights/africa/nigerias_renewal_delivering_inclusive_growth?cid=other-eml-alt-mgi-mck-oth-1407

 

Jumia – Nigeria’s Online Shopping Answer to Amazon


http://www.bbc.co.uk/news/business-24483600

 

Report on the growing online shopping sector in Nigeria.

http://www.economist.com/blogs/baobab/2013/11/shopping-nigeria?fsrc=scn/tw_ec/an_amazon_com_for_africa_

http://www.bbc.co.uk/news/business-24959254

Africa’s Economies: Nigeria, South Africa and Zimbabwe


 

Al-Jazeera report focusing on the economies of three African countries: Nigeria, South Africa and Zimbabwe.

 

Although Nigeria’s economy is typecast one-dimensionally about oil, Nigeria’s agriculture sector accounts for 40% of GDP. It also spends a whopping one-third of Nigeria’s federal budget on food imports.

 

http://www.aljazeera.com/programmes/countingthecost/2013/08/201381514574696881.html

 

http://www.youtube.com/watch?v=t7gL3e3206E

Investing in Africa: Opportunities and Challenges


 

Sub-Saharan Africa will be home to seven of the world’s ten fastest growing economies in the next five years. At a recent Thomson Reuters event, U.S. Sen. Christopher Coons joins top African investment managers and business leaders before a live audience to identify key opportunities and ways to address risks, in a panel moderated by Reuters Editor-at-Large Sir Harold Evans. The video features local investors such as Yemi Lalude of Adlevo Capital and Bismark Rewane of Financial Derivatives Company Limited as well as a number of Africa focused foreign investors. Watch the video below.

Big Spending Nigerian Shoppers Besiege London


Good article in the Guardian about how Nigeria’s rising middle class are outnumbering most foreign shoppers in London.

 

http://www.guardian.co.uk/world/2012/sep/10/nigeria-shoppers-rival-russia-middle-east?CMP=twt_gu

 

Key stats:

*Nigeria has 142,000 visitors to the UK per year.

*US supermarket giant Wal-Mart sees space for 50 stores in Nigeria.

*Other big name brands like Apple see potential in Nigeria’s expanding economy and rising middle class.

 

Nigeria: The Young and the Unemployed


 

Al-Jazeera feature on youth unemployment in Nigeria. Despite Nigeria’s fast-growing economy and rich natural resources, there do not seem to seem to be enough jobs to go around for the hordes of young graduates each year.

 

Demographics are not helping either. Nigeria also has one of the fastest growing populations in the world, which is set to double by the year 2035. Rising unemployment + rising population growth = big trouble ahead.

http://www.youtube.com/watch?v=-hsmqQaE7wE

MTV Base Interview with Aliko Dangote: Africa’s Richest Man


In other news, Dangote is apparently in talks with South African company Tiger Brands to sell a controlling stake in his flour company Dangote Flour Mills PLC for about $125 million dollars.

http://www.forbes.com/sites/mfonobongnsehe/2012/05/07/africas-richest-man-aliko-dangote-may-sell-off-food-business/

 

He also plans to spend $7.5 billion dollars in the next 4 years to expand his business.

 

http://af.reuters.com/article/investingNews/idAFJOE84904K20120510

http://www.youtube.com/watch?feature=player_embedded&v=Lx_H_LrZ1DE

Sudan: the “Divorce” between North and South


For those who think secession is the answer to Nigeria’s problems – take a look at Sudan. A country with an Islamic north, and Christian oil-rich south. Oil pipelines run northward. Does that remind you of another west African country?

Interesting discussion that highlights the role and vested interests of China and the United States of America. The “US has no problem dealing with dictators. They just don’t like dealing with dictators that don’t play ball”. How succinct!

http://uk.news.yahoo.com/video/skyworldnews-14898227/war-looms-for-world-s-newest-nation-29135154.html

 

Yet North and South Sudan are on the brink of war, not long after South Sudan voted for independence from the North.

Porsche and Luxury Brands Come to Nigeria


 

http://castroller.com/Podcasts/ReutersUsBusiness/2822038

Popping Champagne and speeding Porsches: Luxury brands come to Nigeria to target wealthy elite.

Moet and Louis Vuitton are already in Nigeria. Next comes Porsche who are opening showrooms in Lagos and Abuja.

http://www.washingtonpost.com/world/africa/popping-champagne-and-speeding-porsches-luxury-brands-come-to-nigeria-to-target-wealthy-elite/2012/03/22/gIQA9tiCTS_story.html

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