17 January 2014, Lagos – The Oxford Business Group (OBG), a global publishing research and consultancy firm, has identified the power sector as the investment hub in the economy in 2014. As a result of the latest development in the sector, the report stated that the sector looks set to play a major role in addressing the country’s long-standing electricity shortage.
According to the Director, Circulation and Communications, OBG Ms. Stephanie Parker, the sector is compared to oil and gas, banking and manufacturing.
The report, which is tagged ‘Nigeria 2013’ contains contributions from President Goodluck Jonathan and sector-by-sector guide for investors.
It also includes a wide range of interviews with leading political, economic and business representatives, including the Coordinating Minister for the Economy and Minister of Finance, Ngozi Okonjo-Iweala, the Canadian Minister of International Trade, Ed Fast and the former President of Brazil and Honorary President of the Lula Institute Luiz Inácio Lula da Silva.
OBG’s new report identifies the spotlight on Nigeria’s banking industry, providing wide-ranging coverage of the central bank’s efforts to improve the sector’s operating environment. Key industry players from four of Nigeria’s main banks also reflect their views on a range of topical issues, including the national drive to recover past losses through restructuring and the important role earmarked for consumer credit in boosting economic growth.
Explaining the impact of the research work by the group, Parker said the report analysed the country’s bid to overhaul its oil production infrastructure, which is seen as key to sustaining output and boosting downstream processing.
She also pointed out that the report reflects the challenges facing the country as an oil producer, while documenting new initiatives, such as plans to channel funds into deep water reserves exploration.
Parker added that the report covers the nation’s evolving ICT industry, which it described as one of the most dynamic on the continent.
“With growth in the mobile segment accelerating and internet penetration on the rise, the considers the potential for expansion in segments such as online shopping. It also provides extensive coverage of the development taking place in Oyo, where efforts to streamline procedures and improve infrastructure are garnering investor interest, particularly across the state’s agricultural sector,” she said.
Regional Editor, Robert Tashima, acknowledged that key question marks hang over Nigeria, such as the passage of the Petroleum Industry Bill (PIB) and heightened security risks in some areas.
– This Day