BRIU
Nigeria's leading finance and market intelligence news report.

Regional analysis of the telecom sector’s internet subscribers (Part 2)

Internet usage continued to gain ground across regions in Nigeria as it recorded 47.33 per cent penetration among 195 million Nigerians in 2018. Nigeria leads the African continent in internet usage going by the number of internet users in the country which increased to 92.3 million in 2018. The figure is projected to grow to 134.2 million users by 2020. In Q4 2018, the number of active internet subscribers’ base grew by 13.54 percent year-on-year (YoY). Active internet subscribers’ base increased across the 6…

Regional analysis of the telecom sector’s voice subscribers (Part 1)

The Nigerian telecommunications sector, a subsector of the service sector, has through technological advancement and introduction of innovative services of GSM (Global System for Mobile Communications) thrived tremendously across the geopolitical zones in Nigeria in 2018. The industry is a major contributor to the growth of other sectors of the economy as it fosters businesses across-the-board and cross-borders. By the end of 2018, telecoms contributed 77.42 percent to the information and communication sub sectoral GDP…

Why the power sector needs reorganisation

Since the advent of the democratic regime in Nigeria, there have been significant strides in the reform of the power sector; but efforts so far have been unable to provide adequate and stable power supply in the country. As the largest economy in Africa, it is entangled with limitations in the power sector which continue to constrain economic growth. Nigeria is endowed with large oil, gas, hydro and solar resource, and it already has the potential to generate 12,522 megawatts (MW) of electric power from existing plants…

Tapping the opportunities in the rising consumption of rice in Nigeria

More than anywhere else in the world, rice, the most widely consumed staple food in the world dominates overall crop and overall food consumption (measured by the share of rice in total caloric intake) in Asia. Nearly 640 million metric tons of rice is grown in Asia, representing 90 per cent of global production. Sub-Saharan Africa produces about 19 million metric tons and Latin America some 25 million metric tons. What distinguishes Asia from the rest of the world is its great dependency on rice for the majority of the…

How political uncertainties affect foreign investment portfolio

Since 2014, foreign portfolio investors continued to exit the Nigerian economy albeit at a slower rate as it was manifested in 69.16 percent decrease in total foreign outflow from N846 billion in 2014 to N261 billion in 2016. At the same time, there is a positive correlation between foreign outflow and inflow as the latter was down by 62.95 percent between 2014 and 2016 from N692 billion to N256 billion. Local investors likewise continued to pull out of the market as they reduced their investment from N1.1 trillion in…

The worrisome trend in human capital development in Nigeria

Since 2014, government expenditure on education as a proportion of total expenditure has been on the decline, while the percentage spent on health has also been falling since 2015. In addition, the proportion spent on education and health has not amounted to 10 percent each of the entire government spending from 1999 till date. This trend is worrisome despite the huge emphasis placed on human capital development around the world towards accelerating the economic growth. There exists a strong relationship between human…

How development funds can drive sustainable agriculture and improve rural livelihood

Agriculture has been the backbone of the Nigerian economy providing employment and means of livelihood for the increasing population as it contributed 25.08 percent to the GDP of Nigeria as at 2017. As a major source of livelihood for rural dwellers, a strong and efficient agricultural sector has the capacity to enable a country feed its growing population, generate employment, gain foreign exchange, and improve the standard of living. The agricultural sector also has the potential to be the industrial and economic…

Rice farming at the ‘Point of No Return’

The historic point of no return, which is the beginning of the journey to unknown destination, is located in Gberefun village in Badagry, Lagos west senatorial district. That was the spot where our forefathers who were sold into slavery had the opportunity to look at the Nigerian shores for the last time. Another history is to be made in the same village, albeit, a good one. Rice farmers who are being coordinated by, Segun Atho, the deputy national president, Rice Farmers Association of Nigeria (RIFAN) have resolved to turn…