Nigeria’s plans to drive non-oil growth to be analysed in forthcoming report Lagos Chamber of Commerce and Industry signs MoU with Oxford Business Group

Lagos, October 2019: The Lagos Chamber of Commerce and Industry (LCCI) has signed a memorandum of understanding with OBG for its forthcoming publication. Under the agreement, the LCCI will help to produce The Report: Nigeria 2020 and other content that will be made available across the Group’s platforms.


A new report by the global research and advisory firm Oxford Business Group (OBG) will shine a spotlight on the sectors of Nigeria’s economy that are ripe for investment as the country steps up its bid to reduce its reliance on oil revenues.


The Report: Nigeria 2020 will highlight the key role that an infrastructure drive planned for the agricultural, manufacturing and service industries is expected to play in attracting new investors and boosting inflows. It will also examine the country’s efforts to develop the green energy segment, which is being primed to play a pivotal part in boosting power provision.


In separate coverage, OBG’s report will chart the transformation that has taken place in Nigeria’s telecommunications sector and the many ways in which other industries have been able to harness the introduction of new technologies for their own development.


Readers will also find detailed coverage of the measures implemented to enhance Nigeria’s business climate, which have helped to reduce delays for start-ups and taken key processes online. In addition, OBG will consider the issues that remain a challenge for investors, with power supply problems and weak physical infrastructure high on the list.


LCCI Director General Muda Yusuf said he was delighted to be teaming up with OBG for its forthcoming report and ensuring investors were kept informed of the latest developments in Nigeria’s evolving economy.


“Despite being a key regional player and the largest economy in Africa, Nigeria has historically struggled to provide investors with the up-to-date, reliable business intelligence they need to make informed decisions,” he said. “As a market leader, Oxford Business Group has played a key role in filling this void since launching its operations here, furnishing representatives from both the private and public sectors with extensive, accurate data and analysis on the rapidly changing domestic economic landscape. I look forward to working with its team on their exciting new project and sharing the results with the global investment community.”


Welcoming the LCCI on board, Christophe Bonami OBG’s country director for Nigeria, agreed that these were exciting times for Nigeria, as the country looks to bridge infrastructure gaps, encourage innovation and galvanise growth outside of the oil sector.


“The Lagos Chamber of Commerce and Industry has long been a driving force on the city’s business scene, with its efforts to promote trade and commerce, encourage investment and support entrepreneurial activity delivering positive results both locally and nationally,” he said. “I’m thrilled that our team will benefit from the expertise and experience that its members will bring to our research as we prepare to chart the next chapter of Nigeria’s fascinating growth story.”


The Report: Nigeria 2020 will mark the culmination of more than 10 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 also contain contributions from leading representatives across the public and private sectors. The Report: Nigeria 2020 will be produced with the Lagos Chamber of Commerce and Industry and the Nigerian Investment Promotion Council. It will be available online and in print.


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About Oxford Business Group


Oxford Business Group (OBG) is a global research and advisory company with a presence in over 30 countries, from Africa, the Middle East and Asia to the Americas. OBG is 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 Business Barometer CEO Survey; OBG Events and Conferences; Global Platform, which hosts exclusive video interviews; The Report publications – and its Consultancy division, OBG offers comprehensive and accurate analysis of macroeconomic and sectoral developments.


OBG provides business intelligence to its subscribers through multiple platforms, including its subscribers, CNKI, Dow Jones Factiva subscribers, the Bloomberg Professional Services’ subscribers, Refinitiv’s (previously Thomson Reuters) Eikon subscribers, and more.


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Marc-André de Blois

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