Nigerian Investment Promotion Commission signs new MoU with Oxford Business Group
Nigeria’s efforts to attract foreign investment for sectors of its economy earmarked for growth, despite the challenging external environment prompted by the coronavirus, will be mapped out in a new report by the global research and advisory firm Oxford Business Group (OBG).
The Report: Nigeria 2020 will shine a spotlight on the country’s plans to roll out new transport and other infrastructure projects in the coming years as part of a broader bid to accommodate its growing population and rising levels of urbanisation.
Key topics explored will include the growing emphasis on public-private partnerships in Nigeria’s infrastructural drive that is supporting a push to increase the part played by the private sector in the economy.
With the delayed Dangote refinery back in the spotlight in December, when the huge crude distillation column was inaugurated, The Report: Nigeria 2020 will consider the significant contribution that the facility will make to the national economy by processing local crude and, in turn, reducing fuel imports.
There will also be wide-ranging coverage of Nigeria’s ICT development, which is proving to be crucial in helping the country to reduce its reliance on hydrocarbons and encourage entrepreneurial activity.
In addition, OBG will look at both the benefits that the African Continental Free Trade Agreement, signed by Nigeria in July 2019, is expected to bring in terms of strengthening trade and commercial activity across the continent, and the challenges that could hinder its success.
The Nigerian Investment Promotion Commission (NIPC) has signed a further memorandum of understanding (MoU) with OBG for its forthcoming publication. Under the agreement, the commission will once again help OBG to carry out the research for The Report: Nigeria 2020 and other content that will be made available across its platforms.
Welcoming the partnership, Wen Qian Chang OBG’s Country Director in Abuja, said she looked forward to teaming up again with the NIPC, which, she added, was one of the Group’s longstanding partners.
“Despite global problems, such as the current coronavirus outbreak and lower oil prices, Nigeria remains an attractive emerging market for the international business community, buoyed by a rapidly growing middle-class population and abundant natural resources,” she said. “Our research for The Report: Nigeria 2020 has already highlighted an uptick in business confidence this year.
The Report: Nigeria 2020 willmark the culmination of more than 12 months of field research by a team of analysts from Oxford Business Group. It will be a vital guide to the many facets of the country, including its macroeconomics, infrastructure, banking and other sectoral developments.
OBG’s publication will contain contributions from leading representatives across the public and private sectors. It will be produced with the NIPC, the Lagos Chamber of Commerce and Industry and the Abuja Chamber of Commerce and Industry.
Oxford Business Group (OBG) is a global research and advisory company with a presence in over 30 countries, from Africa, Asia and the Middle East to The Americas. A distinctive and respected provider of on-the-ground intelligence on the world’s fastest growing markets for sound investment opportunities and business decisions.
Through its range of products – Economic News and Views; The OBG CEO Survey; OBG Events and Conferences; Global Platform, which hosts exclusive video interviews; The Report publications – and its Advisory division, OBG offers comprehensive and accurate analysis of macroeconomic and sectoral developments.
OBG provides business intelligence to its subscribers through multiple platforms, including its own verified subscribers and the ones of Dow Jones Factiva, Bloomberg Terminal, Refinitiv’s Eikon (previously Thomson Reuters), Factset and more.