nigeria

today
volume 1
Nigerian Communications Commission head quarters in Abuja

Yar Adua conference centre in Abuja

 3
welcome

Welcome
Professor Dora Akunyili, Minister of Information and Communications,
Welcomes you to the land of opportunities, Nigeria.

W
elcome to Nigeria.
The Land of Opportunities. Apart from
being sub-Saharan Africa’s largest oil
producer, the country has limitless opportunities in
agriculture, tourism, mining and financial services,
to mention but a few. Beyond our natural resources,
we have one of the most dynamic and well-
trained workforces in the world. Our educational
institutions guarantee a pool of skilled personnel for
any industry. Nigerians are generally renowned for
their spirit of enterprise and industry. Long before
colonialism reached our shores, our merchants were
trading with fellow Africans around the littoral belts
and with European states.
Since 1999, when a democratically elected
government came into power, the focus has
been on creating an enabling environment for
harnessing our potential. We are investing heavily
in infrastructure: building roads to open up new
areas, opening new universities staffed with lecturers
trained in Europe, America and Asia. We are also Besides investment Nigeria is also
providing social infrastructure such as hospitals, the place to be as it offers a high quality of life.
schools and recreational facilities. Our coastline has beautiful beaches, while the interior
More than this we are offering a has serene flowing rivers and our people are friendly
package of unique incentives for investment, which and go out of their way to make others feel welcome.
would be rare to find in other parts of the world. Nigeria is then a paradise and treasure trove.
Some states of the federation are offering free land, I invite you to discover it as an investor, our tourist.
infrastructural support for industries, advisory We are prepared to do all within our power to assist
services and political support. The sum of our you realise your business and personal dreams.
resources, infrastructure and incentives offer the Welcome. Opportunities beckon
prospect of very high returns on any investment. in Nigeria Today.

nigeriatoday
4
map of nigeria

Base 802144 (R00931) 5-93

NIGERIA quick FACT FILE

Nigeria, officially the Federal Republic of Nigeria, covers a total of 923,768km² and has an estimated
population of 148,000,000 (Nigeria 2006 Census). The country comprises thirty-six states, one
Federal Capital Territory, and borders with the Republic of Benin to the west, Chad and Cameroon to the
east, and Niger in the north; to the south is the Gulf of Guinea, part of the Atlantic Ocean. The capital city
is Abuja which as of the 2006 census had a population of 778,567, whilst Lagos is the largest city. English
is the official language, with another 4 recognised languages spoken: Hausa, Igbo, Yoruba, Edo.

nigeriatoday
 5
contents
03 Welcome Minister
of Information and
Communications
04 Map
06 Nigeria at a Glance
08 National Anthem
10 Icons and legends
20 Historical Dates

ECONOMY
24 Building on Success
30 Fostering a Conducive
Business Environment
36 A Banking Revolution
44 Solid Minerals
50 Agriculture

ENERGY
52 Oil and Gas
58 Power Generation

Infrastructure
60 Developments
in Transport
Infrastructure
24
63 Telecoms
66 Companies Operating
in Nigeria
68 Tourism
76 Sport and Youth
80 Media and Film
86 Reforms and
Challenges
88 Seven plus two
Point Agenda
90 National Economic
Empowerment and
Development
Strategy (NEEDS)
91 Directory of Contacts
94 Nigeria, the
Heart of Africa
52 68

The publisher acknowledges the

assistance of all the individuals and
organisations that have contributed
to this publication. All rights
reserved. No part of this publication
may be reproduced or transmitted
in any form without the written
permission of the publisher.
© Ministry of Information and
30 Communications 2008.

nigeriatoday
6
nigeria at a glance

Nigeria
at a Glance
Nigeria is one of the leading economies of the 21st century
as welll as the most populous nation in Africa.

N
igeria is one of Africa’s
largest countries, stretching
across 923,768.64 Square
km. It lies within the tropics on the
western coast of Africa, bordering
Benin, Niger and Cameroon.
The country’s 800 km coastline
is lettered with natural harbours
and sandy beaches.
Over 140 million people live
in Nigeria making it the most
populous nation in Africa.
According to estimates one in every
five Africans is a Nigerian. The
Yar’Adua addressing
population is split into 250 ethnic
the United Nations
groups: the largest being the Hausa, General Assembly
Fulani, Yoruba and Igbo. Although
English is the official language, each
distinct group has its own language. Under President Umaru Musa Yar’Adua,
Following independence from
Britain in 1960, there were a Nigeria is undergoing tremendous
succession of military coups that change and reform
meant critical long term projects
were never started and the country’s
infrastructure suffered as a result. is underpinned by the foreign is currently developing a non-oil
However, since the return to currency it brings in. Current minerals sector, as the country
civilian democracy in 1999 with production of over two million has significant deposits of tin,
the election of President Olusegun barrels per day accounts for 80% of coal, iron ore, copper, lead and
Obasanjo, Nigeria has established government revenues. Previously, zinc. Aside from minerals, the
a robust democratic structure and agriculture and the growing of government is also promoting
begun a series of economic and crops such as cotton, corn, millet, the tourism, telecommunications,
social reforms that are bearing palm products, sorghum and rubber manufacturing and technology
fruit. Under the administration of were the country’s biggest earners. industries as areas of considerable
President Umaru Musa Yar’Adua, But in recent years crop production growth potential.
Nigeria is undergoing tremendous has not been able to keep pace with With the governments continued
change and reform and stands the rapidly expanding population commitment to encourage local
on the brink of achieving more and the government is now forced companies, maintain democratic
substantial and more sustainable to import food from abroad. stability and attract foreign
economic growth in the years ahead. In the wake of a financial and investment through its policies of
economic downturn, investors liberalization, privatization and
Exports and Agriculture are increasingly looking to the deregulation, Nigeria is in a position
Nigeria’s biggest export is oil mineral-rich economies of Africa to become one of the leading
and the country’s economy as investment destinations. Nigeria economies of the 21st century.

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 7
nigeria at a glance
NIGERIA FACT FILE

Location West Africa

Federal States Nigeria is divided into 36 administrative divisions (states)
and one federal capital territory.
Federal Capital Abuja
Area 923,768.64 Square km
Population Over 140 million (National Census 2006)
Ethnic groups Over 250
Religious groups Islam, Christianity and Traditional Religion
National Day October 1
Official Language English
Other Major Languages Hausa, Fulani, Igbo and Yoruba
Head of State and Government President Umaru Musa Yar’ Adua, Grand Commander of the
Order of the Federal Republic (GCFR), President and Commander
in Chief of the Armed Forces, elected April 2007
Membership of International Including, amongst others, ACP (Africa, Caribbean and
Pacific States), AU (African Union), Commonwealth, ECOWAS
Organisations (The Economic Community of West African States), IBRD
(International Bank for Reconstruction and Development), IFAD
(International Fund for Agricultural Development) and WTO
(World Trade Organisation)

Commercial Cities Lagos, Kano, Port Harcourt, Warri, Kaduna, Onitsha, Ibadan,
Aba, Maiduguri
Main Airport Abuja, Lagos, Kano, Port Harcourt
Road Network Over 194,200km
Inland Waterways 8,575 km
Rail network 4,332 km
Principal Rivers Niger and Benue
Currency Naira
1 Naira (N) = 100 kobo
Vegetation Mainly forest and savannah
Climate Humid sub-tropical: with wet season from April to October
and dry season from November to March
Legal System Based on English Common Law and Customary Law
Weight and Measures Metric System
Natural Resources Petroleum, Tin, Columbite, Iron Ore, Coal, Limestone,
Lead Zinc, Natural Gas
Cash Crops Cocoa, Cassava, Groundnut, Kolanut, Palm Produce, Cashew Nut
Major Industries Crude Oil, coal, tin, columbite, food processing, palm oil, peanut,
textiles cotton, rubber, wood, hide and skin, building materials,
footwear, chemicals, printing, ceramic, steel
Main trading partners UK, US, China, Brazil and the European Union
Electricity 220V

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8

The National Anthem

The National Anthem adopted at independence in 1960 was entitled
“Nigeria, we hail thee”. It was replaced on October 1, 1978 by a new anthem
composed by Mr. Ben Odiase, Director of Music of the Nigerian Police Band.

The anthem truly reflects the rich vibrant culture and heritage
of Nigeria. It takes into account the history as well as the aspirations
of the future generation and aims to unite all Nigerians across the country.

Nigeria
Arise, O Compatriots,
Nigeria’s call obey
To serve our Fatherland
With love and strength and faith.
The labour of our heroes past
Shall never be in vain,
To serve with heart and might
One nation bound in freedom, peace and unity.
O God of creation,
Direct our noble cause;
Guide our Leaders right:
Help our Youth the truth to know,
In love and honesty to grow,
And living just and true,
Great lofty heights attain,
To build a nation where peace and justice reign.
 9

The Nigerian National Pledge

The National Pledge is recited by all school
children at the beginning and end of each school day.

I pledge to Nigeria, my country

To be faithful, loyal and honest,
To serve Nigeria with all my strength,
To defend her unity and uphold
Her honor and glory.
So help me God.

The National Flag

The National Flag of the Federal Republic Nigeria was designed in 1959
by Mr. Michael Taiwo Akinkunmi, then a student in London and was officially
hoisted on 1st October 1960, Nigeria’s date of Independence…

The flag is divided vertically into three equal parts. The two green parts
represent agriculture. While the white represents unity and peace.
10
icons & legends
Fela Kuti
Fela Anikulapo Kuti (1938-97),
legendary international musician,
known as “Abami eda” (the strange
one), was the most creative and
celebrated Afro-beat superstar.
His music transcended cultural
and political barriers and he has
been ranked by HMV records as
one of the top 100 most influential
musicians in the 20th century.

Chinua Achebe
Professor Chinua Achebe is a world-acclaimed novelist, university don and
author of many books who was nominated for the 1987 Booker Prize for
literature. He is best known for his first novel the classic “Things Fall Apart”
published in 1958 which has been translated into 80 languages and is one of
the most widely read books worldwide. In January 1999, he was appointed
the Goodwill Ambassador for The United Nations Population Fund (UNFPA).

Ngozi Okonjo Economic team responsible for

implementing a comprehensive home
Iweala grown economic reform program that
Dr. Ngozi Okonjo-Iweala is presently a stabilized the macro-economy and
Managing Director of the World Bank. tripled the growth rate to an average
6% per annum over 3 years. As Finance
Educated at Harvard, Dr. Okonjo-Iweala Minister she garnered international
is a member or chair of numerous recognition for improving Nigeria’s
boards and advisory groups, including financial stability and fostering greater
DATA, the World Resources Institute, fiscal transparency to combat corruption.
the Clinton Global Initiative, the Nelson In October 2005, she led the Nigerian
Mandela Institution, Friends of the Global team that negotiated the cancellation
Fund Africa, and the African Institute of US $18 billion or 60% of Nigeria’s
of Science and Technology. She has external debt with the Paris Club. The
served as adviser to several international debt deal also included an innovative
investment groups working in emerging buy-back mechanism that wiped out
markets and lectured on Africa and Nigeria’s Paris club debt and reduced
development all over the world. the country’s external indebtedness from
Previously, she was Minister of Foreign US$35 to US$5 billion. Dr. Okonjo-Iweala
Affairs of Nigeria, overseeing Nigeria’s oversaw Nigeria’s first ever Sovereign
External Relations from June to August credit rating of BB- from Fitch and
2006. From July 2003 to June 2006 Standard and Poor’s – a rating that
she served as Minister of Finance grouped Nigeria with other emerging
and Economy of Nigeria and Head of market countries such as Brazil,
Nigeria’s much acclaimed Presidential Vietnam, Venezuela, and Philippines.

nigeriatoday
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icons & legends

Chief Emeka Anyaoku Jay Jay

One of the crop of young men recruited into the Nigeria diplomatic service
at independence, went on to become the Commonwealth Secretary-
Okocha
General (1990-2000). He became the third secretary general at a time Augustine Azuka “Jay-Jay” Okocha
when the organisation was undergoing fundamental changes. In early a footballer who was known for
1997, he organised the first African Commonwealth Heads of Government being one of the best dribblers
Roundtable to promote democracy and good governance on the continent. and most skillful players in the
In 1998 he received the freedom of the city of London, and was later world. He was a member of both
decorated by Queen Elizabeth as an Honorary Knight Grand Cross of the the victorious 1994 Africa Cup
Royal Victorian Order (GCBVO). of Nations squad and the 1996
“Dream Team” who won gold at the
Olympic Games in Atlanta, USA.
At the 2004 Africa Cup of Nations
Wole held in Tunisia, Okocha’s goals and
Soyinka brilliant performances lifted a largely
unheralded Nigerian team to the
Akinwande Oluwole “Wole” semi-final. He was subsequently
Soyinka, a celebrated Nigerian named the tournament’s Most
playwright, poet, social critic, Valuable Player, MVP. Further
teacher, actor and political activist confirmation of his ability was
is regarded by many as Africa’s yielded by his inclusion in the FIFA
greatest writer and one of the list of 100 greatest living footballers,
world’s most salient dramatists. compiled as part of activities
He was awarded the 1986 Nobel marking the centenary celebrations
Prize for literature, the first African of the football governing body.
to be so honoured. The Swedish The British Broadcasting
Academy described him as “one Corporation (BBC) also voted
of the finest poetical playwrights Okocha its footballer of the year
that have written in English”. three times in 2003, 2004 and 2006.

nigeriatoday
12
icons & legends

Agbani Darego
Darego was crowned the Most
Beautiful Girl in Nigeria in 2001. Later
that year she traveled to South Africa
and became the first black African
winner of the title. Her victory was
widely welcomed in Nigeria and her
one year tenure included goodwill
trips and scheduled appearances on
behalf of the pageant.

Ken
Saro-Wiwa
Ken Saro-Wiwa (d. 1995), a
well known Nigerian author and
television producer, was president
of the Movement for the Survival
of Ogoni People (MOSOP), an
organisation set up to defend the
environmental and human rights Aliko Dangote
of the Ogoni people who live in Aliko Dangote is the first recognised Nigerian billionaire according to the
the Niger Delta. His life provided yearly survey conducted by Forbes, the influential American magazine.
a legacy of great inspiration for With an estimated net worth of US$3.3 billion, Nigeria’s industrial magnate
human rights and environmental is ranked 334th richest person in the world. He heads the Dangote Group,
activists around the world. currently the largest industrial conglomerate in West Africa. The group is
He was awarded the Goldman one of the foremost diversified business conglomerates in sub-Saharan
Prize in 1995 for international Africa. With a hard-earned reputation for excellent business practices and
environmental heroes.
product quality, it has about 11,000 people in its employment.

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icons & legends
Dr Nnamdi
Azikwe
Publisher, politician and academic,
Dr Nnamdi Azikwe, known
worldwide as Zik of Africa, became
Nigeria’s first indigenous Governor
General in 1960. He later became
President of Nigeria 1963 – 1966
and leader of Nigerian People’s
Party 1978 – 1983. Dr Azikwe
played a significant role in the
growing nationalist movement,
establishing a newspaper, the West
African Pilot. As a patriot with a
strong love for his country, he fought
for the freedom and independence
of Nigeria from colonialism.

In Nigeria today, his efforts,

transparency and love for Nigeria
have been remembered. His
portrait is reflected on Nigerian
N500 currency note and many
King Sunny Ade streets are named after him. The
international airport in the Federal
King Sunny Adé (Sunday Adeniyi, was the first popular performer of
Capital Territory in Abuja is also
Yoruba Nigerian Juju music on the international stage. With his band,
named after him and his statue was
King Sunny Adé and His African Beats, he became an international
built in his hometown, Onitsha. An
star across Africa during the mid-1980s, touring and gaining a
internationally renowned and widely
significant audience in throughout the USA and Europe. Well known respected figure, Zik’s contribution
as the Minister of Enjoyment, King Sunny has recorded over 100 to the Pan-African struggle is ranked
albums in Nigeria. His album Odu was nominated for Best World with the likes of Marcus Garvey
Music album in 1999. and W.E.B. DuBois.

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14
icons & legends
Sa’adu Zungur
Sa’adu Zungur (1915-1958) was
a leading Hausa poet and political
activist who fought for Nigeria’s
independence. During the pre-
independence period, he was a
member of the National Council
of Nigeria and the Cameroons,
NEPU and the Northern People’s
Congress. Zungur was an
outspoken activist and nationalist
at a time when few non aristocratic
Hausa men were conspicuous in
political matters. He is sometimes
called the leading Hausa poet of the
mid-twentieth century.
Alhaji (Dr)
Mamman
Shata Katsina
Alhaji (Dr) Mamman Shata Katsina
born in 1923 in Musawa village,
Katsina State, Nigeria, died on
9th June, 1999. A well-known
Hausa musician in West, East and
Central Africa, his vocals are often
accompanied by talking drums
known as kalangu. He performed
for the Hausa people of Northwest
Nigeria for more than half a century.
He performed in many African
countries and the US and was one
of Polygram’s best selling artists
from the North in the 1980’s.
nigeriatoday
Ben Okri
Described as one of Africa’s
greatest writers, Ben Okri who
was awarded the 1991 Booker
Prize for Fiction for his acclaimed
novel, The Famished Road. Ben
Okri is a Vice-President of the
English Centre of International
PEN, a member of the board of
the Royal National Theatre, and
was awarded an OBE in 2001.
Professor Chris Doghudje
After graduating with BA Mass
Communication from the University of
Lagos in 1967, Doghudje went straight
into advertising. He operated as an
advertising professional on the client
side from 1967 to 1992, and headed
Lintas, West Africa’s first advertising
agency between 1985 and 1992. Lintas
was a member of the UAC Group and
was incorporated in 1928 in the UK.
Since he retired in 1993, Doghudje has
been managing his advertising agency,
Zus Bureau, which also publishes
Adnews. He is currently the chairman
of the Advertising Practitioners
Council of Nigeria (APCON) and has
unarguably remained the leading
light and an authority in the Nigerian
advertising profession.
Margaret Ekpo
Margaret Ekpo (1914-2006) was
Nigerian women’s rights activist
and social mobilizer who was a
pioneering female politician in
the First Republic. She played
major roles as a grassroots
and nationalist politician in the
Eastern Nigerian city of Aba. She
is nationally and internationally
acclaimed as an icon of Nigerian
politics and a pioneer activist of
women’s rights.

Abubakar Imam
Abubakar Imam was a Nigerian
writer and journalist who first
came to prominence when he
wrote Ruwan Bagaja for a literary
competition in 1933. He was
an outstanding journalist who
became the first editor of Gaskiya
Hajiya Gambo
Sawaba
Hajiya Gambo Sawaba was an
independent political activist
who dedicated her life fighting
for causes against injustice,
inequity and inequality.
She sowed the seed for the
on-going emancipation of
African women from the
African tradition and the
structures of the African
nation-states.
icons & legends
Ta Fi Kwabo, a Hausa newspaper
established in 1939. He became
active in politics in Northern Nigeria
whilst also contributing to the
development of Gaskiya. In 1961,
he became the chairman of the
Public Service Commission.
Professor
Claude Ake
Professor Claude Ake (1939 - 1996)
was a Nigerian political scientist.
He held various academic positions
at institutions around the world,
including Yale University, Nairobi
and the University of Port Harcourt.
He was active in Nigerian politics
and is well-known for his work
in studies of development and
democracy, his overriding concern
being Africa.
15
Nwankwo Kanu
Nwankwo Kanu, usually known
simply as Kanu, is a professional
footballer who plays as a striker
for Nigeria and for the English
club Portsmouth. He is the most
highly-decorated African footballer
in footballing history, having won a
UEFA Champions League medal,
a UEFA Cup medal, three F.A. Cup
Winners Medals and two African
Player of the Year awards. He is the
only current Premiership player to
have won the UEFA Champions
League, UEFA Cup, Premiership, FA
Cup and an Olympic Gold Medal.
Pius
Okigbo
Pius Okigbo (1924-2000), was
one of the most outstanding
Nigerians of his generation.
A world-renowned economist,
academic and administrator;
he served different Nigerian
governments and the United
Nations in various roles
and was the first Nigerian
Ambassador to the
European Community.
nigeriatoday
16
icons & legends
Alhaji Sir
Ahmadu Bello
Al-Haji Sir Ahmadu Bello (1910-
1966) was a Nigerian politician
and was the first premier of the
Northern Nigeria region from 1954-
1966. As leader of the Northern
People’s Congress, the party was
able to win the 1959 parliamentary
elections. His greatest legacy was
the modernization and unification
of the diverse people of Northern
Nigeria. The Ahmadu Bello
University is named after him
and his portrait adorns Nigeria’s
200 naira note.
Tai Solarin
Augustus Taiwo “Tai” Solarin
(1922-1994) was a Nigerian
educator and author. He wrote
regularly for the Daily Times, the
Nigerian Tribune and The Guardian
as well as publishing several books
including Towards Nigeria’s Moral
Self-Government and A message for
Young Nigerians. In November 1995,
the Nigerian National Universities
Commission formally recognized the
Tai Solarin University of Education
(TASUED) Ogun State, as the first
specialized university of education.
Isaac Boro
Isaac Jasper Boro was a radical
young nationalist who led a
revolt against the oppressors to
change the environment of the
Niger Delta. His revolt against the
Federal Government led to the
creation of the 12 State in 1967.
The tree of political and economic
freedom of the oil producing
people was planted by Boro who
dedicated his life to the struggle
for the liberation of mankind.
nigeriatoday
Hubert
Ogunde
Hubert Adedeji Ogunde
(1916-1990) was a Nigerian
actor, playwright, theatre
manager and musician who
founded the Ogunde Concert
Party in 1945 in Nigeria. He
founded Ogunde Theatre, the
first contemporary professional
company in Nigeria. By this
act Ogunde began the rise of
modern professional theatre in
Nigeria, a movement in which
he remains the supreme artist
and father figure.
Sade
Chief Tony Helen Folasade Aduu, OBE,
Okoroji better known as Sade is a
Nigerian British singer-songwriter,
Singer, songwriter, producer and
composer and record producer.
architect of Nigerian Copyright She has achieved success in the
law, Chief Okoroji has been
1980’s, 1990s and 2000s as the
instrumental in setting up the lead vocalist of the hugely popular
Nigerian Copyright Commission
Grammy Award winning English
and has made the struggle for group Sade.
the rights of Nigerian creative
artists the labour of his life.
He is currently Chairman of the
PMRS, the copyright collective Dr Sam Epelle
management organisation and Pioneer and founder of the Nigerian
event organiser for the prestigious Institute of Public Relations (NIPR) and
Nigerian Music Awards. first President between 1963-1968.
Sonny
Okosun
Sonny Okonsun (1947-2008)
was one of the leading
Nigerian musicians from the
late 70’s to mid 80’s. His
1977 song, “Fire in Soweto”,
became a major international
hit. His musical styles ranged
included reggae, highlife,
Afro-funk and gospel and he
made music in Edo language,
Yoruba and English.

Tijani
Babangida
Tijani Babangida is a former
footballer known for his pace and
skill. He spent the majority of his
playing career at Ajax Amsterdam
and took part in two Africa Cup
of Nations tournaments and won
Olympic gold in 1996.
Chief Dr
Joseph Sanusi
Between 1979 and 1984, Chief Dr
Sanusi was the Executive Director,
Monetary and Banking Policy,
Central Bank of Nigeria and later
Deputy Governor in 1988. In 1990,
he became the Managing Director
and Chief Executive of United Bank
for Africa, one of the three biggest
banks in Nigeria, a post he held until
1992, when he was moved to First
Bank of Nigeria, the oldest bank in
Nigeria in the same capacity. Chief
Sanusi retired from First Bank of
Nigeria in 1998, and in May, 1999,
he was brought out of retirement
and appointed the Governor of the
Central Bank of Nigeria.
icons & legends
Professor Ishaya Audu
Professor Ishaya Audu was
born on March 1 1927 at Zaria,
Kaduna State. He was the pioneer
indigenous Vice Chancellor of
Ahmadu Bello University Zaria
and ran the institution from 1966
to 1975. He was Minister of
External Affairs between 1979
17
and 1983. A proprietor of the
Samaru Medical Centre, a private
clinic he established in 1985 after
disengaging from politics, Professor
Audu was a onetime personal
physician to late Premier of the
Northern Region, Sir Ahmadu Bello
between 1960 and 1962.
Femi Oke
Femi Oke is a British Nigerian
television presenter and journalist.
She is a former anchor for CNN’s
International World Weather
service and regularly presented
weather segments for the
programs Your World Today and
World News. She also regularly
hosted Inside Africa, a programme
that looks into the economic,
social and cultural affairs and
trends in Africa.
nigeriatoday
18
icons & legends

Adamu Ciroma
Adamu Ciroma is a politician and former
Governor of the Central Bank of Nigeria.
He served as Minister of Finance from 1999
to 2003. He is currently a member of the
People’s Democratic Party.

Justice
Mohammed
Bello
Educated during the colonial
era, Justice Bello set an
academic record at the Katsina
Elementary and Middle Alhaji Umar Muttalab
schools before he went to Dr. Mutallab is a Fellow of both Cooperation and Supply (1976).
Kaduna College. He graduated the Association of Chartered and He played a major role in introducing
with LLB in 1956 in London. Certified Accountants (FCCA) and the Islamic banking into Nigeria. He was
In 1975, Justice Bello rejected Institute of Chartered Accountants the Executive Chairman & Managing
his first appointment as chief of Nigeria (FCA). He is a former Director of United Bank for Africa
justice of Nigeria on the Federal Commissioner of Economic (UBA) and presently the Chairman
ground that there was a more Development (1975) and also of of First Bank of Nigeria Plc.
senior judge in the Supreme
Court. Instead, he accepted
to serve as the chief judge of Osita Osadebe
Kaduna State, and became
Chief Stephen Osita Osadebe
the first Nigerian to hold that
(1936 - 2007) was one of the
position. Later in 1987, he
most well known Igbo Highlife
was appointed chief justice of
musician, from Southeastern
Nigeria, a position he held until
Nigeria. Known as the “Doctor
1995. In all, he served Nigeria
of Hypertension”, a reference
for 39 years, 20 of which he
to the healing power of his
spent in the Supreme Court.
music, his career spanned over
When he retired, he had no
40 years. His 1984 “Osondi
befitting home or car. He died
Owendi” was the biggest-selling
peacefully in his home on
record in the history of
November 4, 2004.
Nigerian music.

nigeriatoday

Funmilayo
Ransome Kuti
Funmilayo Ransome Kuti (1900
- 1978), was a teacher, political
campaigner, and women’s
rights activist. Ransome-Kuti’s
political activism led to her being
described as the doyen of female
rights in Nigeria and was regarded
as “The Mother of Africa.”
Professor
Babs Fafunwa
Professor Aliu Babatunde Fafunwa
is a Nigerian educationist, scholar
and former minister for Education.
He is known for his early writings on
the need to re-appraise the inherited
colonial system in to introduce
relevant cultural goals, subjects
and local languages into the
system, in order to accommodate
the developmental and cultural
pattern of the country. He is also a
notable authority on the history of
educational planning in Nigeria.
Vincent Maduka
Former broadcast Engineer,
Vincent Maduka was the first
Nigerian Director-General
Ismail Babtunde Jose
Ismail Babatunde Jose
(1925 - 2008)
Alhaji Ismail Babatunde Jose
is the most respected journalist
in Nigeria. Through hard work
and unwavering dedication to
journalism, he rose through the
ranks to become reporter and
later news editor in 1957 of The
Daily Times Group. By 1962, he
had reached the peak, when he
icons & legends
Michael
Imoudu
Pa Michael Imoudu is Nigeria’s
first labour leader and for the
half of this century, he was in the
thick of trade unionism. A leader
of populist and mass oriented
political parties, he is popularly
known as Nigerian labour
leader No 1.
Abdul-Ganiyu
“Gani” Oyesola
Fawehinmi
Abdul Ganiyu “Gani” Oyesola
Fawehinmi is an author, publisher,
philanthropist, social critic,
human and civil rights lawyer and
Politician. He fought for the rule
of law, the hopes and aspirations
of the poor and against military
dictatorship. In 2001, he was
awarded the Senior Advocate
of Nigeria, the highest legal title
in the country.
of the Nigerian Television
Authority (NTA – was
inaugurated in 1977).
was appointed Managing Director,
Chairman/Chief Executive,
a position he held till 1976. Today,
the history of Nigerian journalism
would be incomplete without a
worthy recognition to the foot
prints of the man who has been
deservedly named The Doyen
of Nigerian Journalism; father of
modern day journalism or simply
Mr. Nigerian Journalism.
19
Justice
Akinaola
Aguda
Akinola Aguda (1923 - 2001)
was a jurist and a former Chief
Justice of Botswana. Prior to
becoming Chief Justice, he
was a lawyer and a high court
judge in the western region
of Nigeria. He was the first
indigenous African to head
the position of Chief Justice
in Botswana.
Justice
Taslim Elias
Taslim Olawale Elias (1914
- 1991) was a Nigerian jurist.
He modernized and extensively
revised the laws of Nigeria.
In 1976, Elias was appointed
a judge of the International
Court of Justice at The Hague.
In 1982, Elias was elected
President of the International
Court of Justice, and became
the first African jurist to hold
that honor. Five years later
Elias was also appointed to the
Permanent Court of Arbitration
at The Hague.
nigeriatoday
20
Late 1400’s 1862 1893 1890’s
The Portuguese Lagos Island Oil Rivers British reporter
become the first annexed as a colony Protectorate Flora Shaw suggests 1897
Europeans to reach of Britain. renamed that the country be The British
Nigeria. Niger Coast named “Nigeria” overthrow Oba
Protectorate after the Niger River. Ovonramwen of
and Calabar Benin, one of the last
1400’s 1800’s becomes the independent West
capital. African kings.

1900 The Niger 1914 1920 1923

Coast Protectorate, The Northern The National The Nigerian
merges with the colony and Southern Congress of British National Democratic
and protectorate of Protectorates were West Africa is founded to Party founded by
Lagos and is renamed amalgamated to form fight for participation in Herbert Macaulay
the Protectorate Nigeria. Colonial the governance of their wins three seats
of Southern officer Frederick own countries by people reserved for native
Nigeria. 1900’s Lugard is appointed of African descent in the 1920’s Nigerians in the
Governor General. West African countries. Legislative Council.

1925 1929 1936 1937 1942

The West African Women in the Dr Nnamdi Azikwe The Pilot and The
Student’s Union is eastern commercial Nigerian establishes the Comet, two papers
founded in London
by Ladipo Solanke to
city of Aba hold a
victorious protest
Youth newspaper, the West
African Pilot.
owned by Dr Azikwe
are banned by the
provide a forum for against high taxes Movement colonial government.
West African students
and to promote
and low prices of
Nigerian exports.
is formed.
1930’s 1940’s
African culture.

1942 1944 1945 1947

The Nigerian Trade Dr Azikwe The Egbe Omo The (Sir Arthur)
Union Congress founds the Oduduwa, a cultural Richards Constitution
is granted official National Council organisation of comes into effect. The
recognition by the of Nigeria and Yorubas, is formed Constitution establishes
colonial government. the Camerouns in London. a Legislative Council and
(NCNC). divides the country into
three regions, North,
East and West.

1949 The 1951 1951 Nov-Jan 1952 1953

The British decide to Nigeria’s first elections are The London
Northern grant Nigeria internal held and the NCNC wins majority Constitutional
People self-rule, following
a protest led by Dr
seats in the East; the Action
Group (AG) wins majority seats in
Conference agrees on
a federal constitution
Congress Nnamdi Azikiwe’s the West and the Northern and the granting of
(NPC) is political
party the
People Congress
(NPC) wins majority
self government to
any region that
1950’s
formed. NCNC. seats in the North. wishes for it.

1954 1958 Nigerian 1959 The 1959 (Dec)

The position of Armed Forces Federal elections 1960’s
Governor was created transfers new Nigerian are held. No party
in the three regions
(North, West and
to Federal control.
The Nigerian Navy
currency, wins absolute majority
so the NPC and Niger
East) with adoption of is born. the Pound, is Delta Congress (NDC) 1960 (Jan)
federalism under the
Lyttleton Constitution.
introduced. form a coalition
government.
Abubakar Tafawa
Balewa is elected
Prime Minister.

1960 (Oct 1) 1960 1961 (June 1)

Independence Day. Nigeria joins with Northern Cameroon became Sardauna
Nigeria becomes Liberia and Togo Province of Nigeria, the thirteenth province
an independent in the “Monrovia of Northern Nigeria as the country’s map
sovereign state. 1960 (Nov 16) Group”, seeking assumed a new shape.
Dr. Nnamdi Azikiwe some form of a
becomes Nigeria’s confederation of
first indigenous African states. 1961 (October 1) Southern
Governor General. Cameroon ceases to be a part of Nigeria.
 21
1962 The Federal 1963 1965 (Nov)
government declares Nigeria sheds the bulk of its political affinity Federal elections
a state of emergency with the British colonial power to become a are held in the
in the Western region. Republic within the Commonwealth. Dr Nnamdi Western region. But
The first census Azikiwe becomes the first President. violence erupts and
in Nigeria since there is criticism of
independence is held the political ruling
amidst widespread 1964 Federal elections are held. They class creating unease
controversy. are widely boycotted in the East and West. in the new republic.

1966 (January 15) Junior officers of the Nigerian army, 1966 (May 29)
mostly majors overthrow the government in a coup d’etat. The Massive rioting starts
coup leaders pledge to establish a strong and efficient government in the major towns of
committed to a progressive program and eventually to new elections. Northern Nigeria and
They vow to stop the post-electoral violence and stamp out corruption attacks on the Igbos
in the civilian administration. General Johnson T. Aguiyi-Ironsi, the and other easterners
most senior military officer, an easterner (Igbo), who stepped in to to avenge the death of
restore order, becomes the Head of State. many senior northerners
in the coup.

1966 (July 29) 1966 (Aug 1) 1967 (Jan 4)

A group of Northern officers Lt. Col Nigeria’s military leaders travelled to Aburi
and men storm the Western Yakubu in Ghana to find a solution to problems facing
Region’s governor’s residence Gowon a the country and to avert an imminent military
in Ibadan where General Aguiyi junior officer clash between the North and the East.
Ironsi was staying with his host, from the
Lt. Col Adekunle Fajuyi. Both north becomes (May 30) Lt Col Ojukwu,
the Head of State and Governor the new Head Governor of the East, declares his
are killed. of State. region the Republic of Biafra.

1967 (July 6) 1970 (Jan 15) 1971 (April 2) 1973 (May)

First shots were The civil war ends Nigeria switches Gowon establishes the
fired heralding and reconstruction from driving on the left National Youth Service
a 30-month war and rehabilitation hand side (like Britain) Corps Scheme and
between the Federal begin. to the right, introduces compulsory
government and the like all its one-year service for all
rebel Republic of neighbouring university graduates, to
Biafra. 1970’s countries. promote integration and
peace after the war.

1974 General Gowon said he could not 1975 (October)

keep his earlier promise to return power to a
democratically elected government in 1976.
He announced an indefinite postponement of
a programme of transition to civil rule.
1974 (April 1) The Jerome Udoji Salary
reviews are paid to all workers in the public
service.
Gowon is overthrown in a coup, on
the anniversary of his ninth year in office.
Brigadier (later General) Murtala Mohammed,
the new Head of State promised a restoration
of democracy.

1976 The federal government adhering 1976 (Feb 14) 1976 (Septr 2)
to the recommendations of a panel earlier General Mohammed The Universal
set up to advise it, approves the creation of is succeeded by Primary Education
a new Federal Capital Territory, Abuja, away General Olusegun Scheme (UPE) was
from Lagos. Obasanjo who introduced, making
pledges to pursue education free and
1976 (February 13) General Murtala his predecessor’s compulsory in the
Mohammed was killed in the traffic on his way transition programme. country.
to work.

1977 1979 (Oct 1) 1983 The conduct 1983

Nigeria hosts 1979 General Obasanjo of the general (Sept)
FESTAC the Nigeria hands over to Alhaji elections was Shagari was
festival of arts Shehu Shagari as first criticised by opposing re-elected
and culture drawing gets a new elected executive parties and the media. president
black talent and constitution. President and the first Violence erupts of Nigeria
civilisation from politician to govern in some parts in August-
around the world. Nigeria since 1966. of the West. 1980’s September
1983.
22
1983 (Dec 31) 1985 (August 27)
Following a coup Following accusations of callousness and 1989
d’etat, the military overzealousness, Buhari was overthrown in a (Oct)
returned to power.  palace coup. The army chief, General Ibrahim Chief
Major-General Babangida took over power. Emeka
Muhammadu Buhari 1986 The seat Anyaoku
was named Head of of government was becomes
State. officially moved from Secretary-General of
Lagos to Abuja. the Commonwealth.

1990 (April) 1992 (Dec) 1993 (March)

Chief Hubert Chairman of UAC of Nigeria, Chief Chief Adeyemi Lawson, one of Nigeria’s
Ogunde, doyen of Ernest Shonekan becomes Chairman of the foremost industrialists, dies.
Nigerian theatre, dies.
Transnational Council and Head of Government
after his election by other members. 1993 (June 12) After several
1991 (Dec) The postponements by the military administration,
seat of the Federal presidential elections were held. Businessman
Government formally 1990’s and newspaper publisher Moshood Abiola of
moves to Abuja. the SDP took unexpected lead in early returns.

1993 (June 23) Babangida on national 1993 (October)

television offered his reasons for annulling the The Movement for the Advancement
results of the Presidential election. Riots take of Democracy (MAD) hijacked a
place in the southwest, Abiola’s home area. Nigerian airliner to neighbouring
Niger in order to protest against
(Aug 26) Under severe opposition and official corruption. Nigerian troops
pressure, Babangida resigned as military stormed liberated the plane at the
president and appointed an interim government N’djamena airport, Republic of Niger.
headed by Chief Ernest A. Shonekan.

1996 (May) 1994

Nnamdi Azikiwe, Abiola, who had
Nigeria’s first escaped abroad
president dies. after the annulment,
1993 (November 17) returned and
General Sani Abacha, defence minister in the proclaimed himself
interim government and most senior officer, president. He was
seizes power from Shonekan, and abolishes the arrested and charged
constitution and suppresses the opposition. with treason.

1995 (July) 1995 1997 (Aug) 1997(Dec)

Former head of state, (Nov) Fela Anikulapo- Major general Shehu
Obasanjo was sentenced to Writer and Kuti, the Afro-beat Musa Yar’Adua dies
25 years in prison by a secret minority King, dies of a heart in prison custody.
military tribunal for alleged rights activist attack and other He was convicted by
participation in an attempt Ken Saro- complications arising a Military Tribunal
(widely believed to have been Wiwa and from AIDS. for plotting a coup
fictional) to overthrow the eight others in June 1995 and
government. are executed. sentenced to jail.

1998 (June 8) 1998 (June 9) 1998

General Abacha Gen. Abdulsalaam A month after General
dies suddenly and Abubakar was named Abacha’s death
mysteriously. The Nigeria’s new Head of the United Nations
official cause of State, the country’s General-Secretary
death: heart attack. eighth military ruler. Kofi Annan arrives in
Nigerians swarmed He promises to Nigeria to conclude
the streets rejoicing. restore civilian rule deals for the release
promptly. of Chief Abiola.

1998 (July 7) 1998 (July 20): 1999 (Feb 15)

Abiola dies in detention Abubakar Former military
of a heart disease, a week addresses ruler Obasanjo won
after Annan’s visit, before the nation the presidential
he could be released in a and disbands nomination of the
general amnesty for political three transition Peoples Democratic
prisoners. Rioting in Lagos agencies. Party (PDP). 
led to over 60 deaths.
 23
1999 (May 29) 1999 (Sept) 1999 (Oct)
1999 (May) Former Military Femi Anikulapo Kuti The first consignment
A new Head of State, wins two prestigious of Nigerian LNG,
Olusegun Obasanjo, is prizes (‘Best Male singer 120,000 Metric
Constitution sworn in as Nigeria’s from West Africa’ and Tonnes is exported to
is adopted. democratically ‘Best African Musician’ at the Italian company
elected civilian the KORA Music Awards ENEL.
President. ceremony in Sun City,
South Africa.

2000 2001 2001 (October) Nigerian President

Adoption of Islamic, or Sharia, law by several Tribal war in Olusegun Obasanjo, South African
northern states in the face of opposition from Benue state, President Mbeki and Algerian President
Christians. Tension over the issue results in in eastern- Bouteflika launch the New Partnership
clashes between Christians and Muslims. central for African Development (NEPAD), which
Nigeria, aims to foster development and open
displaces government and end wars in return for
2000 thousands of aid, foreign investment and the lifting
people. of trade barriers to African exports.

2002 2003 (April) First legislative

Clashes occur in Lagos between Hausas
from mainly-Islamic north and ethnic Yorubas
from predominantly-Christian southwest. Four
days of rioting occurs stoked by Muslim fury
over the planned Miss World beauty pageant
in Kaduna in December. The event is relocated
to Britain.
elections take place since the end of
military rule in 1999. Polling marked by delays
and allegations of ballot-rigging. President
Obasanjo’s People’s Democratic Party wins
parliamentary majority with
more than 60% of vote.
Opposition parties reject
the result.

2003 (July) 2004 (Jan) UN

Nationwide brokers talks between
general strike Nigeria and Cameroon
called off after about disputed
nine days after 2003 (Sept) border. Both sides
government Nigeria’s first agree to joint security 2004 (May) State of emergency is declared
agrees to lower satellite, NigeriaSat- patrols. in the central Plateau State after clashes
recently-increased 1, launched by between Christians and Muslims. Further
fuel prices. Russian rocket. clashes occur in oil city of Port Harcourt.

2005 (July) 2006 (Jan) 2006 (April) 2006 (May)

Paris Club of rich Militants in the Helped by record The Senate rejects
lenders agrees to Niger Delta attack oil prices, Nigeria proposed changes to
write off two-thirds pipelines and other oil becomes the first the constitution which
of Nigeria’s $30bn facilities and kidnap African nation to pay would have allowed
foreign debt. foreign oil workers. off its debt to the President Obasanjo to
The rebels demand Paris Club of rich stand for a third term
more control over the lenders. in 2007.
region’s oil wealth.

2006 (Aug) 2006 (Oct) 2007 (April)

Nigeria cedes sovereignty over Spiritual leader Umaru Yar’Adua of
the disputed Bakassi peninsula of Nigeria’s the ruling People’s
to neighbouring Cameroon under millions of Democratic Party is
the terms of a 2002 International Muslims, proclaimed winner
Court of Justice ruling. A special the Sultan of the presidential
transitional arrangement for the of Sokoto, election.
Nigerian civilian administration is killed in
will be in place for five years. a plane crash.

2007 (Sept) 2008 Oil trades

2007 (Sept)
Golden Eaglets win the FIFA U17 World Cup
for the third time by beating Spain in a penalty
shoot out. They were previous winners of the
tournament in 1985 and 2003.
The rebel Movement for the at $100
Emancipation of the Niger Delta a barrel
(MEND) threatens to end a self- for the
imposed ceasefire and to launch first time.
fresh attacks on oil facilities and
abductions of foreign workers.
2008
24
the economy

[Nigeria has] the brains, the people,

the energy and the entrepreneurial
spirit… it is just spending money
on getting the technology and the
basic infrastructure right that will
make Nigeria blossom
nigeriatoday
 25
the economy

Nigeria’s Economy is one of the fastest

growing in the world with the International
Monetary Fund projecting a growth of 9% in 2008.

The Economy:
Building on
Success
Nigeria is Africa’s most populous country, and now
approaching its 50th anniversary of independence from Britain.

A
frica’s most populous
country approaches its 50th
anniversary of independence
from Britain in 2010, with growing
optimism about economic
prospects, maturing democracy and
fiscal probity, as well as deepening
financial markets thanks to a
strenuous banking sector. Lost
decades under military rule have
denied Nigeria its position in the
global community, however, the
coming years should witness the
emergence of a superpower within
the emerging-market regions.
Merrill Lynch, the Wall Street
bank, noted: “They have the brains,
the people, the energy and the
entrepreneurial spirit. They have
everything, but it is just spending
money on getting the technology
and the basic infrastructure right
that will make Nigeria blossom.”
The International Monetary Fund
(IMF) applauded Nigeria’s robust
macro- economic performance
in recent years. “Growth is high,
inflation is in single digits and
external and fiscal positions have
strengthened significantly. These
gains reflect the implementation of
an ambitious reform programme
guided by the homegrown National
Economic Empowerment and
Development Strategy (NEEDS)
and supported by a Policy Support
Instrument 2005-07, as well as a
favourable external environment
and debt relief.” The IMF believes
the outlook is bullish, provided
that ongoing structural reforms are
maintained.

spending money on getting the

technology and the basic infrastructure
right that will make Nigeria blossom
nigeriatoday
26
the economy
Macro Ecconomic indicators Estimate Estimate
2004 2005 2006 2007 2008 2009
Nominal Gross Domestic Product (GDP)
at market prices (US$bn)¹ 87.85 112.25 145.43 165.68 211.31 228.69
Real GDP Growth* 10.6 5.4 6.2 5.9 6.2 8.1
Real Per Capita GDP Growth* 7.6 2.6 3.4 3.1 3.4 5.2
Hydrocarbons GDP* 3.3 0.5 -4.5 -5.6 9.0 7.5
Crude Oil production (Mn bpd) 2.50 2.58 2.47 2.35 2.36 2.54
Non-Oil GDP Growth* 13.3 8.7 9.6 9.6 8.9 7.6
Non-Oil Sectors (%) of Total GDP 61.3 60.4 62.0 64.5 63.0 66.5
Industrial Production* 3.7 3.8 2.1 3.4 5.3 5.9

Consumer Price Index (CPI)* 15.0 17.8 8.3 5.5 11.0 11.1
Total Investment (%) of GDP 23.5 22.8 23.8 24.0 24.3 25.8
Domestic Savings (%) of GDP 36.5 38.3 38.7 34.5 35.5 31.5
Monitoring Policy Rate (%)² 15.0 13.0 10.0 9.50 9.75 / <
Naira: US$1 (period average) 132.8 131.2 128.6 125.8 117.8 121.0

Consolidated Government Operations³

Government Expenditure # 15.6 16.6 14.1 15.8 14.8 15.7
Government Revenue # 21.9 24.7 21.7 17.2 18.4 15.9
Overall Fiscal Balance # 6.3 8.1 7.6 1.4 3.7 0.3
Excess Crude Account (US$bn) 5.1 9.9 13.3 17.3
¹Sub-Saharan Africa’s second-largest economy, after South Africa and equivalent to one-half of West Africa’s combined GDP.
*Annual percent change. ²The Central Bank of Nigeria’s benchmark rate. / October 2007. < The central bank could relax monetary
policy in coming months. ³Representing federal, state and local governments. # As percent of GDP.
Sources: Nigerian authorities; IMF African Department database; International Financial Statistics and Economist Intelligence Unit.

Gross Domestic Product communications technologies

Between 2003 and 2007, Nigeria’s
nominal Gross Domestic Product
(GDP) in (US dollar terms) grew
by three-fold to US$165.68bn,
with real GDP growth averaging
7.6% per annum – the best
performance for decades – well
above the sluggish 2.5% seen
during 1997-2001. Significantly,
the non-oil economy (where
four-fifths of workforce are
employed), also recorded
sustained growth of 9.4% a year,
led by financial services, retail-
and-wholesale trade, information
Real GDP in 2008
and 2009 is poised
to expand at 6.2%
and 8.1%
(ICT), light-manufacturing
and agricultural. Brisk domestic
demand is underpinned by fiscal
stimulus and massive oil-fuelled
liquidity. Concurrently, real
GDP in 2008 and 2009 is poised
to expand at 6.2% and 8.1%,
respectively, on IMF figures. In
the hydrocarbons sector, growth
should benefit from West African
gas pipeline coming online.
The country enjoys ‘twin
surpluses’ on consolidated CBN
government fiscal and external
accounts (see Tables 1 & 2)
supported by oil and liquefied US$65.13bn whilst imports were
natural gas (LNG) exports. Nigeria, US$37.57bn, leaving a trade surplus
the world’s eighth-largest crude of US$27.56bn, equivalent to 17%
exporter, expects to earn US$76bn of GDP. External reserves have
(up from US$56bn in 2007),
according to Standard Bank. In
continued to mount; in mid-2008,
the Central Bank of Nigeria (CBN)
2007, merchandise exports nettled reported official forex reserves of

nigeriatoday
 27
the economy
EXTERNAL TRADE, ASSETS & DEBT, in millions of US dollars (%)chg Estimate Estimate
2004 2005 2006 2004-07 2008 2009

Exports (FOB) 34,766 48,069 57,444 87.3 80,500 80,600

Price of Nigerian oil (US$/barrel) 38.3 55.3 65.3 90.6 88.5 83.0
Imports (FOB) 15,009 17,288 26,760 150.3 45,600 49,600
Trade Balance 19,757 30,781 30,684 39.5 34,900 31,000
Terms-of-Trade (%) 1 20.4 38.0 18.0 42.2 -7.1
Current Account Balance 16,840 24,202 13,800 10,700 6,500
Current Account (%) of GDP 19.1 21.5 9.5 5.0 2.8

Gross International Reserves 16,956 28,280 42,229 202.7 73,200 91,000

Import-coverage 2 7.5 9.8 12.5 14.4 13.9
Central Bank’s Foreign Assets 18,653 27,713 43,663 180.0 61,470/
Deposits in OECD-based Bank 12,479 18,327 34,773 195.3 35,972//

FDI inflows 3 2,127 4,978 13,956 485.5

Total External Debt 35,900 20,500 3,500 -91.0 3,400 4,200

Debt Stock (%) of GDP 40.8 18.2 2.4 1.6 1.8

¹Annual percent change in ‘Terms-of-Trade’ (the ratio of export to import prices). / April. // March. ²Gross forex reserves in
months of imports of goods and services. ³Net flows of foreign direct investment, after repatriation of interest and profits.

Major Trading Partners (Percent share of total trade to world, 2007). EXPORTS: The US (47.1%); Brazil (7.3%); Spain (7%); Cote
d’Ivoire (2.7%); France (2.4%); South Africa (2.4%). IMPORTS: China (11%); Netherlands (8.2%); the US (8.1%); the UK (5.5%);
Brazil (5.2%); France (4.5%).
Sources: The International Financial Statistics, Bank for International Settlements, IMF projections, UNCTAD World
Investment Report.

US$63bn (the highest in sub- Nigeria is now… a net ‘creditor

Saharan Africa) compared to only
US$5.5bn in 1999. Thus, confidence
in Naira-denominated assets
has surged as portfolio investors
poured US$3.2bn during 2007, in
anticipation of a stronger currency.
Also, remittances from some 17mn
Nigerian diasporans are increasing
as deregulation and privatisations
offer new opportunities for both
local and foreign investors.
creditor nation
Nigeria is now in a unique
position of being a net ‘creditor
nation’ (i.e., gross sovereign
assets exceed external liabilities).
In total, debt stock fell
steeply to under US$4bn from
unsustainable US$36bn in early
2005 – reflecting impacts of debt
relief and buybacks.
nation’ (gross sovereign assets
exceed external liabilities)
In October 2005, the Paris Club
lenders (notably the UK, France,
Germany, Italy, Japan and the
US) rewarded Abuja by providing
debt relief on the ‘Naples terms’.
The latter facilitated a 67%
reduction on the face value of
debt and a buyback of remaining
debt at hefty discounts. The
Nigerian government paid
US$12.4bn, in return for official
creditors writing off US$18.6bn.
It also settled private debt
owed to the London Club that
comprised 2020 Brady par bonds
(US$1.45bn) and US$512mn of
promissory notes.
Nigeria is integrating into global
financial markets reflected in a
sovereign credit-rating of [BB-]
from Standard & Poor’s (S&P) and
FitchRatings, coupled with recent
success of Nigerian banks in capital-
raising abroad. “Compared with
most peers in the BB category like
Turkey, Jordan or Egypt, Nigeria’s
fiscal and current account balances
are very favourable. Its net asset
position is currently over 40% of
GDP,” explained S&P. FitchRatings
noted: “Nigeria’s ratings was
underpinned by strong commitment
to economic reform, including
measures to improve governance,

nigeriatoday
28
the economy
The Headquarters of the Economic Community
Of West African States (ECOWAS), a regional
group of sixteen countries founded in 1975

tackle corruption, accelerate Nigeria could rank as the world’s

privatisation and rationalise the
banking system. The government
aspires to achieve a [BBB]
investment-grade rating by building
a vibrant diversified economy.
The country’s Medium-Term
Fiscal Strategy 2008–10 assumes
distribution of oil revenues based
on a budget oil price of $55 per
barrel. This oil-price based fiscal
rule is enshrined in the ‘Fiscal
Responsibility Act’ as a framework
to guide budget allocations. The
consolidated government non-oil
primary fiscal deficit is projected
at 25% of non-oil GDP, in line
with recent years; however, the
overall fiscal position should stay in
surplus. The constitution provides
that all tiers of government (federal,
state, and local) a share in oil
receipts. According to the revenue-
20th and 11th largest economy by
2025 and 2050, if current growth
momentum is sustained
sharing formula, approved by the
National Assembly, oil-producing
states receive 13% upfront as
derivation grants. Of the rest
87%, the federal government takes
52.7%, the 36 states 26.7% and
local governments 20.6%.
Fiscal prudence has proved
effective in avoiding pitfalls of past
boom-bust cycles. Oil revenues in
excess of the budget oil price and
production level are transferred into
the ‘excess crude account’ at the
CBN – where savings amounted
to about US$17.3bn at end-2007,
compared with US$5.1bn in 2004.
growth and savings
Population growth and
urbanisation are exerting pressure
on resources, social services and
basic infrastructure. The annual
savings of US$1bn-plus in debt
service payments are allocated
to a Virtual Poverty Fund for
promoting activities in the
Millennium Development Goals
(MDGs) priority areas. Interim
U.N. reports praised Nigeria
for improving universal primary
education, but stressed the need to
tackle rural poverty, child mortality
and disease.

nigeriatoday

Images: Public Sector Consultants Ltd.
The dynamics of Nigeria’s
economy, West Africa’s
powerhouse, is now almost
unrecognisable, compared with
early 1990s. Goldman Sachs
reckons Nigeria could rank as
the world’s 20th and 11th largest
economy by 2025 and 2050, if
current growth momentum is
sustained, thus overtaking Italy
and South Korea. “Improving
long-term foundations is key
to converting potentiality into
reality,” the US investment bank
said. The official target is for 13%
growth by 2020.
29
the economy
The National Assembly
Building, Abuja
SEVEN-POINT AGENDA
President Umaru Yar’ Adua’s ‘Seven-Point Agenda’ seeks to
build on the 2004-07 NEEDS, which targeted wealth creation,
job generation, value reorientation and poverty eradication. The
key goals of ‘NEEDS 2’ are addressing energy shortages [Nigeria
needs 25,000 MW of generation capacity]; building transport and
communication infrastructure; and making inroads on reaching
the MDGs.
It also aims to deepen structural reforms in the areas of public
financial management (at the state levels), deregulation, taxation
and customs administration. The strategy aims to create 7mn new
jobs by boosting agricultural and industrial production and
attracting non-oil investments.
(See pages 88-89 for more.)
nigeriatoday
30
the economy

Fostering
a Conducive
Business
Environment
Through the pursuit of interlinked micro-reforms,
Nigeria will facilitate foreign and local investments.

T
he past and present civilian
administrations have sought
to promote private sector
activity by devising investor-
friendly policies. As a result,
Nigeria has started receiving
sizeable foreign direct investment
(FDI) into its real economy,
which augurs well for job creation
and a more balanced growth.
According to the UNCTAD
World Investment Report 2008,
FDI inflows to Nigeria were
US$39.76bn over 2000-07,
equivalent to one-fifth of Africa’s
total US$206bn.

Substantial progress has been made in

implementing the structural agenda
nigeriatoday

Businesses flourish in a climate
of stellar growth, low inflation
and interest rates, as well as
deregulation and privatization.
As the International Monetary
Fund acknowledged: “Substantial
progress has been made in
implementing the structural
agenda, including an ambitious
bank consolidation, liberalization
of import tariff regime, the
introduction of a wholesale
auction for foreign exchange,
31
the economy
Marina street skyline, Lagos
continued efforts to reduce
corruption and progress in
The government
restructuring and privatizing has pledged to
state-owned enterprises.
The authorities will continue
boost generation
their strong agenda by further capacity to
efforts to remove impediments 10,000 megawatt
to growth.”
Nigeria is vigorously pursuing (MW) within
interlinked micro-reforms two years
to facilitate foreign and local
investments. The main objectives
of which are:
32
the economy
the infrastructure gap
Addressing the infrastructure gap,
such as weak communications
networks, limited power supplies
and the lack of fresh water for
residential and agricultural use.
These ‘supply-side’ constraints
raise the cost of business.
A survey revealed that 54% of
manufacturers cited electricity
deficiencies as being a major
barrier to higher production.
By some estimates, the power cost
to private firms is six times the
price paid by global competitors.
The government has pledged
to boost generation capacity to
10,000 megawatt (MW) within two
years by building power stations
and improving operations at the
Power Holding Co. of Nigeria
(PHCN) – formerly the National
Electric Power Authority (NEPA).
nigeriatoday
There is no way that the economy will
grow unless we can empower the
grass roots to do business for them-
selves and get off the poverty line
banking
Strengthening the banking system’s
contribution to investment and
growth through lending to private
businesses. Private sector credit has
doubled after series of mergers and
re-capitalisations that resulted in 24
vibrant mega-banks, led by Zenith
International Bank, Oceanic Bank,
Intercontinental Bank, Access Bank
and Guaranty Trust Bank, among
others. They provide increasingly
sophisticated offerings to corporate
clients (see Banking Sector). The
newly active bond markets are
Improving power stations is
essential to fostering a conductive
business environment in Nigeria
also helping companies to raise
new capital. Unlike previous years,
foreign exchange is readily available,
with demand being met through the
interbank market and the Wholesale
Dutch Auction System. The Bureau
de Change rate was effectively
converged with the official rate in
mid-2006, and a parallel exchange
market has not re-emerged.
transparency
Improving the capacity of
state institutions and ensuring
transparent public procurement

processes. A World Bank survey
on Nigeria found increased
transparency and fairness in
procurement.
rule of law
Strong commitments to good
governance and upholding
the “rule of law” are essential
for improving the business
environment. The Economic and
Financial Crimes Commission
formed in 2002 to enforce laws
on money laundering, banking
and advance-fee fraud (known as
419 fraud) has prosecuted senior
Nigeria was
removed from the
FATF list… in
mid-2006
33
the economy
Improved power stations will
benefit housing as well as
businesses and banks
SMEDAN
In 2003, the government created the Small and Medium
Enterprise Development Agency of Nigeria (Smedan), acting
as one-stop shop for business start-ups. It supports innovation and
facilitates access to finance, raw material, equipment and labour.
Smedan has established business support centres in eight states
and multiple local-level business information centres. The latter
offer training in elementary bookkeeping, IT, drafting business
plans, legal and taxation advise.
public officials for misuse of public Encouraging enterprises
funds. Nigeria was removed from Encouraging micro, small and
the Financial Action Task Force medium-sized enterprises
list of noncompliant countries (MSMEs), which are seen
in the global fight against money as agents of job creation.
laundering in mid-2006. The Erastus Akingbola, CEO of
authorities are now working to Intercontinental Bank, said:
implement recommendations of the “There is no way that the
recent mutual evaluation conducted economy will grow unless we
by the Inter-Governmental Action
Group Against Money Laundering
can empower the grass roots
to do business for themselves
in West Africa. and get off the poverty line.”
nigeriatoday
34
the economy

BUSINESS CLIMATE INDICATORS Sub-Saharan OECD

Nigeria Africa Average
Starting a business
Procedures (number) 8 10.2 5.8
Duration (days) 31 47.8 13.4
Cost (% GNI per capita) 90.1 112.1 4.9

Dealing with construction permits

Procedures (number) 18 17.2 15.4
Duration (days) 350 271.1 161.5

Registering property
Procedures (number) 14 6.8 4.7
Duration (days) 82 95.6 30.3
Cost (% of property value) 21.9 10.5 4.5

Paying taxes
Payments (number) 35 37.8 13.4
Time (hours) 938 311.7 210.5
Profit tax (%) 21.8 21.5 17.5
Labour tax and contribution (%) 9.7 13.2 24.4
Total tax rate (% profit) 32.2 66.7 45.3

Cross-border trade
Documents for exports (number) 10 7.8 4.5
Time for exports (days) 25 34.7 10.7
Cost to export (US$ per container) 1,179 1,879 1,069
Documents for imports (number) 9 8.8 5.1
Time for imports (days) 42 41 11.4
Cost to import (US$ per container) 1,306 2,278.7 1,133

Enforcing contracts
Procedures (number) 39 39.4 30.8
Duration (days) 457 659.7 462.7
Cost to enforce; in (%) of debt 32 48.9 18.9

Closing a business
Time (years) 2.0 3.4 1.7
Cost (%) of estate 22 20.2 8.4
Recovery rate, cents on dollar 28.0 16.9 68.6
Source: World Bank Doing Business 2009 report.

nigeriatoday
 35
the economy
The Central Bank of Nigeria’s
Nigeria is endowed with an
SME equity investment scheme abundance of mineral resources
(formed in 2001) requires banks
to put aside 10% of gross profit
to finance SMEs.

infrastructure
Accelerating structural reforms
to reduce the heavy burden
on public finances and raise
productivity growth through
increased efficiency. The port
concessioning has greatly improved
overall operations, but identified
bottlenecks in infrastructure and
customs, which slow the movement
of goods. To fund industrial
projects and attract foreign
managerial/technical expertise,
the authorities favour public
private partnerships (PPPs), and
further wave of privatizations. In
2006/07, major assets like Nigerian
Telecommunications (NITEL),
the fixed-line provider, Nigerian
Mining Corp Quarries, Delta
Steel Co. Ltd, NICON Insurance,
Leyland Nigeria Ltd, hotels, most
oil service and petrochemical firms
were privatized.
Inward FDI remained substantial
at about US$8.5bn as of August
2008. While the bulk of foreign
inflows are directed at the
hydrocarbons industry, the non-oil
based FDI is now growing (unlike
large disinvestments a decade
ago). The revamped mega-banks
In sum, ‘Nigeria is too big to ignore’
have raised as much as US$15bn from a commercial perspective
in the past two years. Liberalising
the telecoms sector has paid off,
where a regulatory and an enabling traditionally been the principal significant potentials for
framework has attracted over investors, although Chinese industrialisation and FDI inflows.
US$11.5bn in private investment. firms are making big inroads. The The coming decade will see more
Tom Iseghohi, CEO of TransCorp, Nigerian Business Information improvements in business climate
explained: “This market could take Council estimates Chinese as economic diversification
15mn to 20mn fixed lines [from investment in Nigeria at more gathers momentum. In sum,
currently 1.7mn]. There are also than US$10bn. China National “Nigeria is too big to ignore”
1mn new mobile subscribers in Petroleum Corp. (CNOOC) paid from a commercial perspective.
Nigeria each month.” TransCorp, US$2.27bn for a 45% stake in an A report by Australian-based
a local conglomerate, owns a stake offshore oilfield. Macquarie Bank “Nigeria Awake!
in NITEL. Nigeria endowed with huge The beckoning Golden Age”
European and US companies energy and [untapped] mineral painted bullish picture with brisk
led by the energy majors (notably resource coupled with larger domestic demand, leading to a
Royal Dutch Shell, BP, Total, marketplace and a gateway boom in consumer products
ExxonMobil and Chevron) have to West Africa region boosts and mobile phones.

nigeriatoday
36
the economy
Today, 14 Nigerian
mega-groups are
included in the UK
Banker magazine’s
Top 1,000 World
Banks ranking for
2008, compared to
none in 2004

nigeriatoday
 37
the economy

A Banking
Revolution
Integration into global capital markets, developments in the bond market
and improved macroeconomic conditions have transformed Nigeria’s
banking sector, which could be unrecognizable by 2013 in terms
of its sophistication, liquidity and volumes of foreign investments.

T
he deregulation of the
financial services industry
has led to a rapid increase
in the number of non-banking
organizations across the country.
There are about 750 community
banks (which are being
transformed into micro-finance
institutions), seven micro-finance
banks, 49 insurance companies,
91 primary mortgage providers,
24 commercial banks (down from
89), 322-bureau de change and 24
pension fund managers. Beside
a stock market, the system has
active money, foreign exchange,
Banks are well-
capitalised, liquid
and profitable
a commodity exchange and capital
markets. Commercial banks,
however, account for 92% of the
financial system’s total assets.
bank consolidation
The successful bank
consolidation following a wave
of mergers and acquisitions
(M&As) and increased
capitalization forced by the
Central Bank of Nigeria’s (CBN)
directive to boost ‘Tier 1’ capital
(i.e. shareholders’ equity) to
N25bn ($195mn) by the end of
2005 from the then-minimum of
N2bn have created 24 stronger/
reliable banks. The International
Monetary Fund (IMF) noted:
“The banking sector is now
broadly stable – banks are
well-capitalised, liquid and

nigeriatoday
38
the economy

The Intercontinental
Bank PLC

THE UK BANKER MAGAZINE’S TOP 1,000 WORLD BANKS

Today, 14 Nigerian mega-groups are included in the UK Banker magazine’s Top 1,000 World Banks
ranking for 2008, compared to none in 2004, while seven boast shareholders’ funds in excess of
US$1bn. The major lenders are Zenith International Bank, Oceanic Bank, Intercontinental Bank, Access
Bank, Guaranty Trust Bank, United Bank for Africa, First City Monument Bank, Union Bank of Nigeria,
First Bank of Nigeria and Diamond Bank. Using a variety of vehicles – Eurobonds, global depository
receipts (GDRs), hybrid offers of rights and shares, preference shares and initial public offerings (IPOs)
on the Lagos stock exchange – Nigerian banks raised US$12bn in capital over 2006-07.

profitable compared with the
pre-consolidation period, when
a large number of institutions
were unsound or marginal
performers.”
The capital adequacy ratio,
at 18.6%, is well above the
minimum regulatory requirement
of 10%; holding of liquid assets
is a robust 62.2%; and loan
portfolio quality has improved.
Overall provisioning levels
are high, although they have
dipped as non-performing loans
(NPLs) have fallen to 6.8%
in 2007 from 18.1% in 2005,
according to the CBN. The total
assets of Nigerian banks grew
by about 277% during 2003-07
and gross deposits rising from
N2.8 trillion to N10 trillion over
the same period, thus indicating
public confidence in new banks.
Meanwhile, credit to the private
sector more than doubled from
$19.4bn in 2006 to $41.9bn in
2007, representing around one-
third of non-oil GDP.
The product range is diversifying
and competition is fierce. Banks
are actively developing tailored
products, such as home mortgages,
leasing, payment cards, upgrading
IT systems (internet banking)
and expanding ATMs, with a view
to increase service delivery to
customers. Core businesses still
remain corporate banking and trade
financing. However, larger capital

nigeriatoday
 39
the economy

…larger capital bases have

enabled top-tier banks to
‘co-finance’ big-ticket projects
in oil/gas, power generation,
real estate, telecom networks,
heavy industry and wealth
management services

nigeriatoday
40
the economy
Financial Soundness Indicators for Nigeria’s Banking Industry
(Percent, unless otherwise indicated)
dici-04 dici-05 dici-06 juni-07
CAPITAL ADEQUACY
Regulatory capital to risk-weighted assets 14,7 17,8 22,6 18,6
Regulatory Tier 1 capital to risk-weighted assets 13,4 16,5 21,8 17,5
Capital (net worth) to assets 9,9 12,4 14,7 13,3

ASSET QUALITY & COMPOSITION
NPLs to gross loans 21,6 18,1 8,8 7,7
NPLs net of provisions to capital 90,0 64,4 21,3 23,4
Sectoral distribution of loans:
Manufacturing 22,5 18,6 16,9 13,6
Trade & services 23,6 21,1 22,0 19,4
Energy & minerals 9,4 8,9 10,1 11,9
Agriculture 4,9 3,9 2,3 1,9
Construction & property 7,6 7,5 6,2 5,6
Households 0 0 0 0
Government 4,2 4,6 7,6 1,9
Other 29,4 35,8 38,0 41,3

EARNINGS & PROFITABILITY
Return on assets (ROA) 3,1 0,9 1,6 1,8
Return on equity (ROE) 27,4 7,1 10,4 13,8
Interest margin to gross income 37,6 38,1 39,6 43,9
Non-interest expenses to gross income 53,9 59,2 52,7 47,0
Personal expenses to non-interest expenses 0 37,3 42,7 39,0
Trading & fee income to total income 45,1 31,7 33,3 32,4

LIQUIDITY
Liquid assets to total assets … … 61,1 62,2
Liquid assets to short-term liabilities … … … …
Customer deposits to total (non-Interbank) loans … 77,4 73,6 67,3
Foreign exchange liabilities to total liabilities … 5,9 12,5 6,7
NPL= Non performing loans.
Source: Central Bank of Nigeria.

With the size of capital that the banks

have, we find ourselves being able
to handle a number of transactions
that before now would not have been
handled locally. This increases the
volume of business that we can do
nigeriatoday

bases have enabled top-tier banks
to ‘co-finance’ big-ticket projects
in oil/gas, power generation, real
estate, telecom networks, heavy
industry and wealth management
services for institutional and high-
net-worth clients. Okey Nwosu,
CEO of First Inland Bank, said:
“With the size of capital that the
banks have, we find ourselves
being able to handle a number of
transactions that before now would
not have been handled locally.
This increases the volume of
business that we can do.”
The Central Bank of
Nigeria, established 1958
Central Bank of Nigeria
The 2007 Central Bank of
Nigeria Act made the central
bank more independent. The
CBN has developed a legal
regulatory and operational
framework for risk-based and
consolidated supervision. It
has also increased information
sharing and coordination among
domestic supervisors of the
various sectors and coordination
with foreign supervisors. The IMF
is providing technical assistance.
The payment system was made
41
the economy
Tapping new
opportunitieS
Enlarged groups are
seeking to enhance
returns on capital by:
■ Expanding credit to the
private sector. Retail credit
has begun to expand, with
banks identifying customers
through corporate
relationships. But only 10%
of the population holds bank
accounts. Olukatode Pitan,
executive director Unity Bank,
believes the “next frontier” is
retail banking. The number of
branches increased by about
one-third in 2007 and product-
lines are growing.
■ Increasing treasury activity.
In the forex market, new
instruments like swaps and
forward contracts have
emerged, enabling banks to
offer forward positions in the
naira. Mega-banks are the
main channels for foreign
investor’s activity in the
domestic securities market
– both physical securities as
well as derivatives. The
interbank forex market is
now operating smoothly.
■ Pursuing cross-border
and cross-sector activities.
Universal banking groups
have emerged, with half the
banks having insurance and
investment subsidiaries. As
part of a regional expansion,
banks have set up operations
in Benin, Gambia, Ghana,
Sierra Leone, South Africa,
while several have moved to
London, Paris, New York and
Beijing. Cecilia Ibru, CEO of
Oceanic Bank, said:
“The presence of
Nigerian banks in
other countries will
lead to easy trade
facilitation.”
nigeriatoday
42
the economy
more sophisticated with the
introduction of Central Interbank
Funds Transfer System and a Real
Time Gross Settlement System,
where interbank clearings are
settled in central bank funds and
data on each banks’ net credit
UNIVERSAL
BANKING
Universal banking groups
have emerged, with half
the banks having insurance
and investment subsidiaries.
As part of a regional
expansion, banks have set up
operations in Benin, Gambia,
Ghana, Sierra Leone, South
Africa, while several have
moved to London, Paris, New
York and Beijing.
nigeriatoday
The Nigerian stock exchange,
established in 1960 has offices
outside Lagos in Abuja, Kaduna,
Port Harcourt, Kano, Onitsha,
Ibadan, Yola and Benin
worth or daily positions are employees in small to large-sized
available online. firms must contribute 7.5% of
salary to a pension fund. Access
Non-banking sector Bank commented: “Capital
Thriving capital markets is being created in the hands
Capital markets have also grown of people and this is going to
in recent years; in the pension transform the country. There
fund industry, assets under are 3mn retirement savings
management were an estimated accounts (RSAs) today. In 10
N600 billion (US$4.78bn) years’ time, there will be 20 or
by end-2007. Bankers see 30mn RSAs, each with N1mn.
tremendous scope in the That is N20,000bn. If the
‘pensions boom’ that is creating exchange rate grows to N75 to
an estimated US$2.5bn of new one dollar, the amount of money
savings each year. Employers and under management in pension
Capital is being created in the hands of
people and this is going to transform the
country. There are 3mn RSAs today. In
10 years’ time, there will be 20 or 30mn

funds will be US$1,000bn.” The
young industry is supervised
and regulated by the Nigerian
Pensions Commission.
Insurance
The insurance sector is also
undergoing a consolidation
process based on banking
model. In September 2005, the
National Insurance Commission
(NAICOM) raised capital
threshold to N2bn for life
insurance firms; N3bn for
general insurance concerns; and
N5bn for composite insurance
business. Whilst companies
engaged in reinsurance must hold
minimum N10bn. The deadline
for re-capitalization was February
2008. Subsequently, 43 non-life,
26 life-insurance and two re-
insurers met higher benchmarks,
The government launched the
Financial System Strategy 2020,
which inspires to make Nigeria
Africa’s financial hub
out of 114 companies that were
registered prior to deadline. In
November 2007, 49 insurance
firms were certified to carry out
business, 26 of which are listed
on Stock Exchange.
Market penetration for
insurance products is low for a
country with a population of 140
million. Estimates for penetration
figures vary from 2% (both life
and non-life) to 10%. According
to 2006 Sigma Report, the industry
underwrote insurance business
worth US$716mn, compared
43
the economy
The National Insurance
Commission (NAICOM) HQ
to US$40.7bn underwritten by
South Africa. The UK Trade and
Investment Report puts Nigeria’s
share of global insurance market
at negligible 0.01% below South
Africa’s 0.86%.
Outlook
The government launched the
Financial System Strategy 2020,
which inspires to make Nigeria
Africa’s financial hub by improving
financial sector and strengthening
its catalytic role to promote intra-
regional trade and investments.
nigeriatoday
44
mining

Mining
Attracting foreign investment and expertise
is the key to transforming Nigeria’s mineral sector.

N
igeria is a country endowed
with an abundance of not
just oil and gas reserves, but
with numerous mineral resources.
Recent policy reforms have
brought the solid minerals sector
to the fore with the emphasis
on encouraging massive foreign
participation in this sector.
The variety of solid minerals
ranges from precious metals to Oil refinery worker
various stones and also industrial 1958, Afam Uku, Nigeria
minerals such as barytes, gypsum,
kaolin and marble. Much of these
are yet to be exploited. Statistically,
the level of exploitation of these
minerals is very low in relation to
the extent of deposits found in
the country. One of the objectives
of the new National Policy on
Solid Minerals is to ensure the
Rock salt mine
orderly development of the mineral
resources of the country.
There are tremendous into Mining Industry. The the mineral is located. This is an
opportunities for investments in requirements for this include exploration licence for a particular
the solid mineral sector in Nigeria. submission of the company’s mineral(s) over a particular land
Prospecting licenses for investors Certificate of Registration, area which, by law, should not
(both local and foreign) to evidence of technical competence exceed 22 square kilometers.
participate in the exploitation of the and of financial capability. Once granted, the area is held
vast mineral resources in Nigeria is The next step is for the company exclusively to the company which
granted by the Federal Ministry of to apply and obtain a prospecting will now confidently invest in
Solid Minerals. right (PR) to enable it carry out mineral exploration work on the
general and scientific prospecting area without hindrance. This
Procedure for obtaining for the categories of minerals within licence is renewable every one
a Mining Licence the prospecting right. If properly or two years depending on the
A grant of a Mining Licence to a conducted, work on this right will nature of the terrain.
prospective company is subject guide the company towards zeroing It is only after the company has
to proof of economic reserve into a particular mineral within a satisfied itself of the availability of
of the mineral commodity for specific land area. the mineral in commercial quantity
which a concession is sought. The The company will then put on the EPL that it will apply for
process involves the company up application for an exclusive grant of a Mining Licence over the
first applying to the Honourable prospecting licence (EPL) in whole or part of the area covered
Minister for Certificate of Entry the State Mines Office where by the EPL.

nigeriatoday
 45
mining
BENTONITE
AND BARYTE
These are the main
constituents of the mud
used in the drilling of
all types of oil wells.
The Nigeria baryte had
specific gravity of about
4.3. Over 7.5 million
tonnes of baryte have
been identified in Taraba
and Bauchi States. Large
bentonite reserves of
700 million tonnes are
available in many states COAL
of the Federation ready Nigeria Coal is one of the most
for massive development bituminous in the world owing to its
and exploitation. low sulphur and ash content and
therefore the most environmentally
friendly. There are nearly 3 billion
tonnes of indicated reserves in 17
GEMSTONES identified coalfields and over 600
million tonnes of proven reserves.
Gemstone mining has
boomed in various
parts of Plateau,
Kaduna and Bauchi
States for years. Some
of these gemstones
include sapphire, ruby,
aquamarine, emerald,
tourmaline, topaz, garnet,
amethyst, zircon and
fluorspar, which are
among the world’s best.
Good prospects exist
in these areas for viable
investments.

Pelletisation
TANTALITE
Large deposits of Tantalite are
Pelletisation of Coal for Domestic Use: Given the large deposits known to occur in Nasarawa,
of brown coal in the tertiary sediments east and west of River
Niger; Nigeria can cash in on foreign investors’ technology to
Gombe and Kogi States as well
produce coal pellets for industrial use, coal briquettes for domestic as the Federal Capital Territory.
use; that is, to replace firewood. The deposits are both alluvial and
primary in the numerous pegmatite
Investment incentives offered by the government for the mining bodies that infest these areas.
sector include a 3-5 year tax holiday, deferred royalty payments, Grades of well over 50 per cent
possible capitalisation of expenditure on exploration and surveys
Ta205 are found. Private investors
and extension of infrastructure such as roads and electricity to
mining sites, and provision of 100 per cent foreign ownership of are invited to stake concessions for
mining concerns. the development and exploitation of
tantalite in these areas.

nigeriatoday
46
mining
MINERALS
Attracting foreign
investment and expertise
is the key to transforming
Nigeria’s mineral sector.

Nigeria is a country endowed

with an abundance not just of
oil and gas reserves, but with
numerous mineral resources.
Recent policy reforms have
brought the solid minerals
sector to the fore with the
emphasis on encouraging
massive foreign participation
in this sector.

GOLD
There are proven reserves of both alluvial and primary deposits of
gold with proven reserves in the shiest belt covering the western half
of Nigeria. At present exploitation of alluvial deposits is being carried
out mostly by artisan miners in a few places in the country. A number
of primary deposits, which are sufficiently sizeable for large scale
mechanised mining, have been identified in the northwest and south-
western parts of the country. Private investors are invited to stake
concessions on these primary deposits.

IRON ORE TALC

There are over 3 billion tonnes of
iron ore found in Kogi, Enugu, Niger,
Zamfara and Kaduna States. Iron
is currently being mined at Itakpe
(Kogi State), which is more or less at
the centre of the region of crystalline
iron deposits. The large deposits of
oolitic iron ores of Kogi and Enugu
States are yet to be fully explored.
Itakpe iron ore is being beneficiated
to 67 per cent iron to feed Aladja
and Ajaokuta Steel companies.
Besides there are three in-land
rolling mills at Oshogbo, Jos and
Katsina in addition to some privately
rolling mills in Lagos and Kano.
An estimated reserve of over 100
million tonnes of talc has been
discovered in Niger, Osun, Kogi,
Kwara, Ogun, Taraba and Kaduna
States. There are only two medium
size talc processing plants currently
operating in Nigeria. The colour of
the Nigeria talc varies from white
through milky-white to grey. The
talc industry represents one of
the most versatile sectors of the
industrial minerals of the world. The
exploitation of the vast talc deposits
in Nigeria would therefore satisfy not
only local demands but also that of
the international markets as well.

nigeriatoday
 47
mining

ROCK SALT BITUMEN

The national demand for table salt, caustic soda, chlorine, sodium The occurrence of bitumen deposits
bicarbonate, sodium hydrochloric acid and hydrogen peroxide exceeds in Nigeria is estimated at about 42
one million tonnes. A colossal amount of money is spent annually to import billion tonnes, almost as twice the
these chemicals by various companies including tanneries, food, beverages, amount of existing reserves of crude
paper and pulp, bottling and other industries including the oil companies. petroleum. When fully developed,
There are salt springs at Awe (Plateau State), Abakaliki (Enugu State) and the industry will no doubt meet local
Uburu (Imo State), while rock salt is available in Benue State. A total reserve requirements for road construction
of 1.5 billion tonnes has been indicated and further investigations are in and also become a foreign
progress by government to ascertain the quantum of reserves. exchange earner for the country.

GYPSUM LEAD/ZINC
Gypsum is an important input for An estimated 10 million tonnes of
the production of cement. It is lead/zinc veins are spread over
used for the production of Plaster eight States in Nigeria. Joint venture
of Paris (P.O.P) and classroom partners are encouraged to develop
chalk etc. A strategy for large- and exploit the various lead/zinc
scale mining of gypsum used in deposits all over the country.
the cement industries is urgently
required to sustain existing plants
and meet future expansion.
Current cement production is put
at 8 million tones per annum while
the national requirement is 9.6
million tones. About one billion
tones of gypsum deposits are
spread over many states
in Nigeria.

nigeriatoday
Images: Public Sector Consultants Ltd.
50
agriculture
Agriculture
in Nigeria
Seventy percent of Nigeria’s populace
are involved in agricultural production.
D
espite its huge oil reserves
and position as Africa’s
leading oil exporter,
Nigeria is predominantly still an
agricultural society. The country
is blessed with agricultural
resources. About seventy per cent
of the population is engaged in
subsistence agriculture. Most parts
of the country have rich soil and
experience good rainfall. Nearly 80
per cent of the land is cultivable,
and about 13 per cent of the land
is forested. Nigeria’s agricultural
products can be classified into two
main groups: food crops, produced
for domestic consumption, and
export crops. The major food crops
include beans, cashew nuts, cassava,
groundnuts maize, melons, millet,
oil palm, plantains, sorghum, rice
and yams. Cash crops include
beniseed, cashew nuts cocoa,
cotton, groundnut gum Arabic,
palm kernels, rubber, soyabean and
yams. Although cocoa continues
to be Nigeria’s leading agricultural
export, growth in this sub-sector
has been relatively slow since the
abolition of the Nigerian Cocoa
Board due to the dominance of
small holders.
Agricultural
growth focused on
small farmers…
reduces the levels
of poverty
nigeriatoday
Nigeria produces
160 thousand tonnes
of Cocoa, 4.6% of
world production
About 90 per cent of the total
agricultural production comes
from smallholders. However,
agricultural services are not geared
to the needs of smallholders in
the country. Agricultural growth
focused on small farmers promotes
overall income and employment
and reduces the levels of poverty.
There is a need to improve
implementation of different
strategies that will bring significant
improvement in agricultural
productivity, increase farm-related
employment and incomes, promote
better nutritional practices at all
levels, and above all to promote
different programmes which
provide an easy access availability
of food to the most vulnerable
sections of society.
rising cereal prices
Agricultural production was
adversely affected in 2007 due to
an early cessation of rains and lack
of access to fertiliser. This resulted
in a 20 per cent decline in sorghum
production, 10 per cent in maize, 10
per cent for cowpea and 10 per cent
for groundnut. However, crops
like cassava, cocoyams, yams and
soyabeans – being less dependent
on fertiliser – were less affected.
As a result of reduced cereal output,
CEREAL DEMAND
In Nigeria, demand for
cereal by poultry, food
processing industries and
breweries is high. The cereal
sub-sector is becoming
commercialised, resulting in
establishment of big grain
markets in different areas,
providing easy links between
remotely located farms and
the potential buyers
throughout the world.

traders’ stocks are low with a sharp
hike in prices. Although cereal
imports – mainly wheat and rice
– are forecast to remain above
4.5 million tonnes in 2008, this
represents only 15 per cent of
the country’s total domestic
cereal consumption.
GOVERNMENT ACTION
In order to limit the impact of
rising cereal prices on domestic
food consumption, governments
from both importing and
exporting countries have
adopted different strategies like
raising food subsidies, lowering
import tariffs, and banning or
imposing duties on basic food
exports. With high prices due to
reduced supply, access to food
by vulnerable groups is likely to
become difficult in the coming
year. Therefore the government
has to increase access to food by
carbohydrates in the world, and Africa
With high prices due to reduced
supply, access to food by vulnerable
groups is likely to become difficult
the vulnerable sections of the
population through targeted food
distribution. Adequate and timely
provision of fertiliser is critical to
attaining self sufficiency in crop
production. The government
decided to increase the quantities
of fertiliser for procurement from
500,000 tonnes in 2007 to 650,000
in 2008. Other measures such as
sales at subsidised prices, food for
work or cash for work activities,
are highly recommended by
experts. The government is already
taking action in this regard and
state governments are expected
to complement the federal
government’s efforts from their
buffer stocks.
51
agriculture
Soyabean
Cassava is the third largest source of
the largest centre of production
There is also the need to
make targeted investments in
developing irrigation in Nigeria.
Commercial farming is the future
of agriculture in Nigeria. The
government has a vision to take
agriculture to a higher level by
reducing the country’s growing
dependence on imported food,
especially milk, dairy products,
poultry and rice. To meet this
challenge, there is an urgent
need to prioritise irrigation
development in the country
in order to boost large scale
farming. The active participation
of both the government and
the private sector can yield the
desired results.
nigeriatoday
52
energy

Since the 1970s,

crude oil worth
more than
US$500bn has
been exported
from Nigeria

nigeriatoday
 53
energy

AN oil boom in the 1970s saw Nigeria join

OPEC and billions of dollars were generated
by production in the oil-rich Niger Delta.

The Oil and

Gas industry
An attractive investment opportunity: Nigeria stands to become
a formidable energy producer on the global stage.

HISTORY
Crude oil was first
discovered by Shell-BP,
at the time the sole
concessionaire, at Oloibiri in
the Niger Delta after half a
century of exploration. Nigeria
joined the ranks of oil
producers in 1958 when its
first oilfield started producing
5,100 barrels per day (bpd).
Huge reservoirs of
hydrocarbons are found in
seven sedimentary basins –
the Niger River Delta,
Anambra, Benin, Benue
Trough, Chad and the deep
and ultra-deep offshore areas
of Nigeria. Of these, only the
Niger River Delta, one of the
world’s largest wetlands,
extending across 75,000 sq-
km of territory, has been
explored intensively. Since the
1970s, crude oil worth more
than US$500bn has been
exported from the Delta. Major
oilfields are Bonga, Cawthron
Channel, EA, Edop, Ekkulama,
Escravos Beach, Forcados,
Yorki, Jones Creek, Meren,
Nembe, Okan, Oso and Ubit.
S
ignificant capacity additions in both
oil and natural gas over the medium-
term, will transform Nigeria into a
formidable energy producer on the global
stage. Hydrocarbons related projects could
contribute as much as 60% towards doubling
of gross domestic product (GDP) within
a decade.
Reserves
The World Bank estimates Nigeria’s proved
and probable reserves of natural gas and crude
oil at 57bn barrels of oil equivalent and 55bn
barrels respectively.
The state-owned Nigerian National
Petroleum Corporation (NNPC) aims to
boost recoverable oil reserves to 40bn and
50bn barrels, respectively, by 2010 and 2020.
Nigeria and Sao Tome & Principle are sitting
on sizeable ‘undisclosed’ reserves off the Gulf
of Guinea. The joint development zone (JDZ)
shared by the two countries contains some
23-exploration blocks, which may potentially
yield 8-14bn barrels. Block-One controlled by
Chevron (51%), with partners Exxon- Mobil
(40%) and Equity Energy Resources (9%),
is undergoing exploration and drilling in
the zone. If oil is discovered, Chevron plans
to bring it online by 2010. According to an
agreement, future oil revenues will be spilt in
favour of Nigeria on a 60:40 basis.

nigeriatoday
54
energy
NIGERIA’S HYDROCARBONS RESOURCES (%) change R/P*
1987 1997 2007 ‘97-’07 ratio ‘07

Proved Oil & Gas Reserves

Crude Oil [Billions barrels] / 16,0 20,8 36,2 74,0 42,1
As percent of:
Africa’s Total 27,2 27,6 31,0 31,2
OPEC Total 2,3 2,5 4,0 72,7

Natural Gas [Trillion cubic metres] // 2,41 3,48 5,30 52,3

As percent of Africa’s Total 32,6 32,7 36,3 100+
76,6
Oil production [000’ bpd] # 1.353 2.316 2.356 1,7
As percent of:
Africa’s Total 25,0 30,0 23,0
OPEC Total 7,0 7,5 6,7

Natural gas output [Billion cubic metres] N/A 5,1 35,0 586,3
As percent of Africa’s Total 5,0 18,4
* Reserves-to-production ratio, measured by years of exploration and productiion activity. / Oil reserves are second-highest
in Africa after Libya. // Gas reserves are the highest in Africa. # Includes condensates and natural gas liquids (NGLs).
Source:BP Statistical Review of World Energy June 2008.

Strategically vital Export terminals 2008 remained below potential.

West Africa and Nigeria in
particular, is strategically vital to
global energy needs because of
its light-sweet crude, which is
easier to refine into petrol. About
two-thirds of Nigerian oil reserves
are either sulphur-free or have
low sulphur content. Its main
export blends (Bonny Light and
Forcados) are highly sought after
by European/US refiners, reflecting
their high gasoline content and lack
of impurities. They are easier to
distil into high-spec road fuels than
heavier crudes.
The country has six export
terminals: Brass (operated
by ENI-Agip); Escravos
and Pennington (Chevron);
Forcados and Bonny (Shell);
and Qua Iboe (ExxonMobil).
The major markets are the US
and Western Europe, with Asia
(notably China) and South
America becoming important
destinations. It ships more than
40% of its crude to eastern coast
of US. Nigeria is the world’s
eighth-largest oil exporter, but
output at 2mn bpd in September
The US Energy Information
Administration (EIA) estimates
that productive capacity could
reach 3mn bpd, if shut-in
production is restored. Since
end-2005, Nigeria has effectively
lost about US$16bn in export
revenues due to militant activity
in the Niger Delta.
The oil industry’s future lies
in successful exploration &
development of the “frontier
areas” around the deep offshore
and inland basins of Anambra,
Benin (Dahomey) and Benue.

Untapped gas deposits

Nigeria boasts the world’s seventh-largest gas reserves and biggest on the African continent, which
are worth significantly more in energy terms than the country’s oil wealth and sufficient for well over
100 years as a domestic fuel and a major export. The UK-based energy consultants, Wood Mackenzie,
remarked: “There is a saying that Nigeria is actually a gas province which has some oil.”
In fact, ‘probable’ reserves could be a staggering 18.7 trillion cubic metres (cm) and, if certified by
independent agencies like SSI-Baker Hughes, will make Nigeria the world’s fourth-largest natural gas
holder, surpassed only by Russia, Iran and Qatar. However, even its provable reserves exceed the total
(167 trillion cf) in the North Sea and slightly below the US’s (211 trillion cf).

nigeriatoday

US-based Global Energy
Practice of PA Consulting
Group commented: “There is
a sentiment in the exploration
and production industry that
if you go deeper, you will find
even bigger prizes. After all, the
Niger river has been dumping
sediment in the ocean for
millions of years.” About 200
mostly offshore fields are known
to exist and boast considerable
potential of between 8bn and
20bn barrels.
NNPC wants to expand
sustainable capacity to 4mn
bpd aided by new output from
deepwater fields (namely
Shell’s Bonga, ExxonMobil’s
Erha, Chevron’s Agbami and
Total’s Akpo). This would
require annual upstream
spending of US$15bn. The
petroleum sector’s investment
outlay over 2005-08 totalled
US$67bn compared with
US$80bn between 1990
and 2004.
The oil industry’s future lies in
successful exploration & development
of the “frontier areas” around the
deep offshore and inland basins of
Anambra, Benin and Benue
Associated gas
Associated gas (gaseous by-
products of oil extraction)
comprises the bulk of Nigeria’s
gas deposits. An estimated
70.8mn cubic metres (cm) of gas
is flared off daily (one-third of
total output), thus reflecting a
lack of utilisation infrastructure
to process associated gas. The
government wants to stop
wasteful gas flaring, but oil majors
regard end-2008 deadline as
unrealistic. They want deadline
extended to 2010 in order to build
gas-gathering networks and to
make maximum use of existing
facilities. Nigeria has endorsed
the standards developed by the
55
energy
The Benue River, the major
tributary of the Niger River
Global Gas Flaring Reduction
International Agreement.
In production league
table, Nigeria ranked only
23rd worldwide in 2007. The
new industry strategy is to
increase non-oil revenues while
simultaneously reducing carbon
dioxide emissions by collecting
associated gas and processing
it into liquefied natural gas
(LNG) and as feedstock for
power stations and down- stream
industries, such as aluminium,
cement, iron-steel and
petrochemicals. The government
wants foreign energy companies
to invest some US$20bn on
building new pipelines and
nigeriatoday
56
energy
NLNG’s facility on Bonny Island; insert, Map of the
Niger Delta showing minimum petroleum system
as defined by oil and gas field center points.
THE NLNG
The Nigerian Liquefied
Natural Gas (NLNG),
Africa’s largest capital project,
represents the first real use of
gas for exports. The facility (on
Bonny Island), owned by NNPC,
Shell, Total and ENI-Agip,
operates six liquefaction trains
with a total nameplate capacity
of 25.32bn cm (10% of global
supply) plus 4mn tonnes per
year (t/y) of liquefied petroleum
gas (LPG).
Major long-term buyers are
Shell (5.7bn cm/y); Spain’s Gas
Natural (4.3bn cm/y); Italy’s
Enel (3.5bn cm/y); Portugal’s
Transgas (3.4bn cm/y); and
British Gas (3bn cm/y). NLNG
has 24-chartered vessels with
an average size of 138,000
tonnes – delivering the LNG to
European and US utilities.
Nigeria aims to capture one-
third of total Atlantic LNG
trade by 2010.
nigeriatoday
processors. Russia’s Gazprom
has expressed strong interest
in Nigeria’s underdeveloped
gas sector.
Domestic consumption could
reach 1,700mn cubic feet per
day (cf/d) by 2010, led chiefly
by the power sector. Gas-fired
electric power generation will
be expanded to 15 gigawatts by
2012 from zero in 2007. Gas use
for power will exceed 6bn cf/d
by 2011. Meanwhile, total gas
utilised in the country (excluding
for exports) could surge from
2bn cf/d in 2007 to over 12bn
cf/d by 2013, according to
NNPC. That, in turn, reflects
expectations of robust industrial
production fuelling higher gas
usage in factories.
Nigeria…boasts the potential to rank
among the top-five global hydrocarbons
producers over the medium term.
The Nigerian Liquefied
Natural Gas
NLNG has moved rapidly up the
global league table by becoming
third-largest producer (on par
with Malaysia), surpassed only by
Qatar and Indonesia. Its growth
potential shows no signs of abating
with advanced plans for an 8.4mn
t/y ‘seventh’ train – including the
option for another train of the same
size. The new train (expected online
in 2011) will lift total production
to 30.4mn t/y. NLNG has signed
Sales-Purchase Agreements with BG
Group, ENI, Occidental, Shell and
Total. The target market is North
America. The cost of SevenPlus
project (the world’s largest single-
train) would exceed US$12bn. The
planned trains [7&8] will expand

Images: Public Sector Consultants Ltd.
NLNG total operating capacity to a
massive 38mn t/y. By contrast, total
annual capacity in 2003 was 8.85mn
tonnes from three trains.
Projects
A consortium of Shell, BG Group
and Chevron started construction
at the OK-LNG plant in the
Olokola Free Trade Zone. The
US$12bn venture will have four
trains (5.5mn t/y each) with the
first two trains commissioned by
2012. Another grassroots project
is the US$8bn Brass facility
grouping NNPC, ENI, Total
and ConocoPhillips. It envisages
building the world’s first offshore
LNG plant in Bayelsa state, with an
initial 10mn t/y capacity from two
The government wants foreign
energy companies to invest some
US$20bn on building new pipelines
and processors.
trains by 2013. It is expected that
Nigeria will earn US$10 billion a
year in LNG exports by 2011.
The 630-km West Africa Gas
Pipeline (WAGP), due online
in late 2008, will deliver supply
to Benin, Togo and Ghana with
initial capacity of 1.8bn cm/y. The
pipeline (costing US$635mn)
will ultimately carry 4.7bn cm/y
of natural gas within 15 years.
Nigeria will also supply gas to
Equatorial Guinea from 2009.
57
energy
By 2012, Nigeria’s gas exports
from existing and planned LNG
facilities and the WAGP project
will exceed 2mn barrels of oil
equivalent per day, according
to NNPC. In fact, gas exports
might even surpass oil revenues
in 20 years.
Nigeria, Africa’s No.1 oil-
exporter, boasts potential to
rank among the top-five global
hydrocarbons producers over
the medium-term.
nigeriatoday
58
energy
Power
in Nigeria
Government reforms prioritise the power sector.
E
lectric power is of
fundamental importance
to the economic social and
industrial development of any
country. Nigeria is a country
blessed with huge thermal oil and
gas reserves for power generation
and the government is making
huge efforts to prioritise energy
sector reform.
Government reforms
The huge amount of $10 billion
spent in the past eight years has
not produced the desired results.
The current administration of
President Yar’Adua recognises
the need for an effective holistic
master plan for the development
of the electricity industry,
including appropriate funding.
More than $150 billion will be
spent on generating 100,000
MW. The need to meet Nigeria’s
power demand formed part of
the agenda for the unbundling
of the Power Holding Company
of Nigeria (PHCN) into 18
companies, and the creation of the
National Electricity Regulation
Commission (NERC). The latter
has awarded 22 licenses to generate
about 12,000 MW of electricity
nigeriatoday
The current administration of President
Yar’Adua recognises the need for an
effective holistic master plan for the
development of the electricity industry,
including appropriate funding
through various sources by 2012. with consumption of 2.5 billion
The stakeholders and the federal standard cubic feet of gas daily.
government have also sealed plans
on the review and implementation Alternative sources
of new multi-year tariffs in the Experts say funds could also
power sector. The exercise would be spent on subsidising the
enable the government to share costs of solar panels and wind
the responsibility of paying for generators to provide alternative
the cost of power generation stable power generation in the
and distribution in the country. country just as it is done in some
22 power stations will be built developed countries. Nuclear
under an independent power power must also be considered as
project policy. These are expected a viable option in the fight against
to generate 12,000 MW by 2011 Nigeria’s perennial electricity
HASTY PRIVATISATION
With a population of more than 140 million people, Nigeria has
a total installed power generation capacity of 3000 MW from
both hydro and thermal sources. The government of former
president Olusegun Obasanjo initiated reforms of the power sector,
but hasty privatisation, improper co-ordination and inadequate
tariff structure scuppered the reforms.
 59
energy
Nevada desert, America, where solar power is
already creating large amounts of energy

dilemma. Already American solar

energy investors are taking Nigeria
by storm, seeking partnerships
with individuals and corporations.
This development will benefit
individual domestic consumption
as well as institutional consumers.
Such a system will not only be
vital in an electric power starved
country like Nigeria but will also,
in the long term, save money for
telecom companies.
Another option for alternate
power generation touted by
experts involves extracting
American solar energy investors are
taking Nigeria by storm, seeking
partnerships with individuals
and corporations
energy from bio waste products
such as sawdust, rice husks and
millet waste. These bio fuels are
environmentally-friendly when
converted to energy because
they fit well into the natural
carbon cycle. Local scientists are
already creating alternative energy
sources using biological plants.
The significance of this research
outcome, if harnessed, may
provide a solution to the problems
of power outages currently
experienced in the country.

nigeriatoday
60
infrastructure

nigeriatoday

Developments
in Transport
Infrastucture
Developing a permanent transport infrastructure is one of the
highest priorities on President Yar’Adua’s Seven Point Agenda.
I The Federal Government has
n a recent public statement,
President Yar’Adua, reaffirmed
his commitment to make Nigeria
one of the 20 biggest economies in
the world by 2020.
“Fellow Nigerians, our
economy is on a strong footing
with an average growth rate
of about 6.9%, a single-digit
inflation rate, external reserves of
about $63 billion, and the Naira
appreciating steadily against
the major currencies. This is a
consequence of our policies aimed
at maintaining relative stability and
predictability in Nigeria’s macro-
economic environment.”
The President then confirmed
the resolve of his government to
develop robust infrastructure,
particularly in the energy, transport
and agricultural sectors. The
Federal Government has set
machinery in motion to build
economically viable roads and
rehabilitate and expand the
moribund railway system. Reforms
in the power sector have also
started yielding positive results.
Transportation is one of the
highest priorities on the seven
point agenda. Weak transport
infrastructure raises costs to
market, reduces investor confidence
as has a hugely detrimental effect
on all aspects of the economy.
61
infrastructure
set machinery in motion to build
economically viable roads and
rehabilitate and expand the moribund
railway system
Federal government allocated the private sector in infrastructure
a budget of US$788 million for development through public-
improvements and maintenance private partnership (PPP).
in the transport sector in 2008, an The Infrastructure Concession
increase from US$108 million in Regulatory Commission (ICRC)
2007. However estimates are that is spearheading the initiative.
at least US$100 billion will need to
be spent for development of four Roads
areas such as power, rail, road, oil The government’s Road Bill will
and gas for Nigeria to achieve its create a Nigerian Roads Board
Vision 2020. responsible for gathering levies
Government representatives on road users and administering
acknowledge that the building of a new Road Fund. The Bureau
infrastructure is capital-intensive for Public Enterprise has planned
for the public sector alone to construction projects and there
bear and are therefore increasing are a number of partnerships
efforts to attract and partner with between state governments and
THE NIGERIAN PORTS AUTHORITY
In Apapa port, NPA charges and collects quay rent and other
ancillary costs from consignees as they own the import
terminals. All the outside bonded/satellite terminals linked to Apapa
port also work in partnership with NPA. In Tincan port, Cross Marine
owns their terminal, which has been rented from the NPA for a
lumpsum payable at the beginning of every year.
nigeriatoday
62
infrastructure
RAIL
Recent estimates from
World Bank Country
Director, Mr Onno Ruhl are
that it will require about
$17.5bn to modernise the
Nigerian railway system.
Based on estimates of the
capital cost of conversion,
Ruhl says that “For a railway
system of about 3,500 route-
km, this would translate into
an investment of between
$5.25 and $17.5bn.”

The impact of improvements

to the rail network cannot be
underestimated. According to
the World Bank, it can be
conservatively estimated that a
rehabilitated and an efficiently
operating railway system in
Nigeria had the potential of Lagos Port
growing freight traffic volume
to 4.2 million tonnes over a
period of four to five years
(by 2010). In subsequent
Nigeria had the potential of growing
years, traffic by rail would grow freight traffic volume to 4.2 million
further in line with seven to
eight per cent rate of economic tonnes over a period of four to five
growth of the country. years (by 2010)

private sector organisations
and international development
organisations for the development
of the road system.
Ports
The Nigerian Ports Authority
(NPA) is the gateway to the
nation’s economy. Some 99%
by volume and 95% by value
of Nigeria’s total imports and
exports are channelled through
the country’s eight major ports.
With the biggest ports in West and
Central Africa, NPA also has the
potential to be the hub of seaport
operations in the sub-region by
serving as the major transhipment
port for West and Central African
bound vessels.
The gap between NPA’s actual
and potential performance is,
however, still large. Decades
of excessive government
interference and chronic under-
funding have left the NPA unable
to achieve the level of efficiency
needed to make it internationally
competitive. Derelict
infrastructure, insufficient
capacity, and problems associated
with insecurity and high
transaction costs have hindered
efforts to promote the use of
Nigeria’s ports. Attempts to
encourage private investment
through the commercialisation
of the NPA in 1988 failed
because of continued government
involvement and control.
Now, however, there is a sea
change in government thinking.
Recent developments point to
significant policy shifts, culminating
in a comprehensive reform
programme aimed at a complete
overhaul of the Nigerian port
system. The government has now
recognised that the smooth running
of seaport operations requires huge
capital outlays, which it cannot
effectively provide. Consequently,
it is actively encouraging and
seeking private sector involvement
in the operations of Nigerian ports.
Under the concessioning
programme, the NPA will in
future only act in a landlord,
regulatory, capacity, while the
concessionaires will have the full
management and operational
responsibilities for the ports, and
will be expected to invest in their
modernisation and infrastructure
development. The concessioning
programme is attracting a huge
interest worldwide, notably from
some of the world’s best-known
port operators. This, perhaps,
is indicative of international
confidence in the government’s
port reform agenda.

nigeriatoday

Reaching for
the Skies
Following its deregulation in 1992, the Nigerian telecoms sector
has since experienced a phenomenal growth in the most recent years.
U
ntil its deregulation in 1992
with the establishment
of the regulatory body
– the Nigerian Communication
Commission (NCC) – the
Nigerian telecommunications
sector was grossly underdeveloped.
The NCC’s remit was to create
a knowledge-based information
society through participatory
and innovative regulation of the
telecommunications industry. Since
its inception, the Commission has
issued various licenses to private
telecommunications operators.
These include seven fixed lined
providers who have activated
[Nigeria is] one of the fastest-growing
telecom industries in the world with
a mobile penetration of 20%
90,000 lines and 35 Internet Service
Providers (ISPs) with a customer
base of about 17,000.
The emergence of mobile
telephony is obviously one
of the major revolutions of
communications in Nigeria. Its
simplicity has facilitated its use by
both literate and illiterate people. It
has become one of the technologies
to be readily embraced by all.
63
infrastructure
Mobile phone use has soared, and
has mostly replaced the services of
the Nigerian Telecommunications
Limited (Nitel). The telephone
industry in Nigeria has undergone a
dramatic transformation since 2001.
Some key problems which were
considered as hindrances to the
building of mass and wide extension
of telephone services have largely
been overcome.
nigeriatoday
64
infrastructure
URBAN THROUGH
TO RURAL
While the telephone
service providers have
focused their services and
marketing in the urban areas,
there exists a huge potential in
the rural areas. Low costs,
together with other
contributing factors including
regulation, competition,
aggressive marketing, latent
demand and a boisterous
informal economy have
contributed to increase
access to telephone users
in Nigeria.
nigeriatoday
MTN Nigeria, one of the major players
in Nigeria’s deregulated mobile market
Deregulation
Deregulation of the mobile market
in 2001 has led to the introduction
of GSM mobile network providers
operating on the 900/1800 MHZ
spectrum. The major players are
MTN Nigeria, Globalcom, Celtel
and Starcomms. The country
currently boasts one of the fastest-
growing telecom industries in the
world with a mobile penetration of
20 per cent and still growing with
the total subscriber base increasing
from 59.5 million in January 2008
to nearly 61 million in March.
Recent data from the NCC
indicates that GSM operators
have the lion’s share with
more than 57 million, while
code Multiple Division Access
(CDMA) has 780,000 and fixed
wireless more than 2.5 million
lines. Total installed capacity
has also increased to about 88.5
million. The additions to the
nation’s subscriber base mean
that the telecoms density ratio has
increased from 30.65 in January
2008 to 32.79 by the end of
March 2008. The NCC has been
instrumental in transforming the
telephone industry in Nigeria.
With the emergence of new
competitive providers, the telecom
industry has experienced rapid
growth. The entry of the second

Globacom Building,
Victoria Island
national operator, Globalcom, has
revolutionalised the market. It was
the first to introduce per second
billing in the market, which, before
then, was dominated by per minute
billing. It also introduced the Glo
Mobile starter packs in 2004 at one
naira as compared to the previous
starter packs which were sold at 20
naira, and forced competitors to
discount their starter packs.
strategic partnership
United Arab Emirates (UAE)
telecom operator Etisalat, through
a strategic partnership with local
firm Mubadala Development
Company, is the latest entrant
65
infrastructure
[Nigeria has overtaken] South Africa as
the largest telecoms market in Africa
into the fast growing telecom new players. The country has
industry in Nigeria. It is the made a remarkable progress in
Dubai-based company’s 15th seven years, bringing in more than
market globally and 11th in $11.5 billion into the economy
Africa. Etisalat is the third and overtaking South Africa
fixed-line service and fifth as the largest telecoms market
mobile operator in Nigeria. The in Africa. It is the government
consistent increases recorded in intention to make the deployment
the sector despite challenges have of ICT a focal point its policies
been attributable to the sound by establishing telecentres in rural
regulatory environment that has areas and IT parks in different
encouraged competition in the states to bring the country in line
sector through the licensing of with the developed world.
nigeriatoday
66
companies
Companies
in Nigeria
Companies
Operating
Nigeria is home to
many international
and global brands.

Equity investments are

in Nigeria
also on the increase. One
company making increasing
investments into Nigeria is
Actis, a London-based private
equity group whose
investments are typically
between two and five years.
market
Nigeria is the UK’s second largest Nigeria, with cumulative investment
market in sub-Saharan Africa after of several billion pounds by Shell,
South Africa. The value of UK British Gas and Centrica in the oil
exports has increased steadily from and gas sector. Other large British
£535 million in 2000 to £836 million companies active in Nigeria include
in 2006. Imports from Nigeria were Guinness, Unilever, Cadbury,
worth £95 million in 2000, rising British-American Tobacco,
to £218 million in 2006. The UK GlaxoSmithKline, British Airways
is one of the largest investors in and Virgin Atlantic.

With the rising incomes

of Nigeria’s 140 million
population, in an interview
with the Financial Times, Actis
says it has invested “hundreds
of millions of dollars” in seven
Nigerian businesses, making
the country portfolio one of
its biggest after Indiia.

http://www.gsk.com/worldwide/ng.htm

nigeriatoday
 67
companies

FRANCE
France is Nigeria’s 4th
largest trading partner
France and 2nd most
important investor after
the United States.

Volume of trade between

Nigeria and France in 2006
was 1.36 billion Euros,
a 41% increase over 2005.

There are over 132 French

companies in Nigeria
including:

■ Total
■ Schlumberger
■ Alcatel
■ Elf
■ Michelin
■ Le Meridien
■ Air France
■ PSA Peugeot (PAN)

■ CFAO
■ Mobil Oil Francaise
■ Esso
■ SAGEM
■ ALCATEL
■ Dumez

nigeriatoday
68
tourism

TOURISM IN Nigeria revolves around a rich

blend of cultural events and beautiful nature in
the form of rain forests, savannah, and waterfalls

historical monuments,
exciting trips to the tropical
forests, exploring the
wildlife, art and culture
and the lifestyle Kwa Falls, along the Kwa River in Cross
River State, Nigeria, Shiraz Chakera

nigeriatoday

Tourism
With it’s rich natural beauty and breathtaking landscape,
Nigeria is becoming one of Africa’s leading tourist destinations.
N
igeria is a country rich
in natural beauty with
long blue beaches, rivers
and lakes, forests, breathtaking
views of waterfalls and soothing
environment. The country offers
a wide range of activities to the
tourist. Other attractions are the
historical monuments, exciting trips
to the tropical forests, exploring
the wildlife, art and culture and the
The tourism sector should be the key
aspect of new approach to national
development
69
tourism
Olumo rock, one of the most popular
tourist destinations in Nigeria sits in the
ancient city center of Abeokuta – a name
which means “Under the rock”
lifestyle of the country. Its traditions
and culture showcase the simplicity
of the lifestyle of the people.
Government reforms
The Ministry of Tourism, Culture
and National Orientation has big
plans for the country’s tourism
industry. It sees it as the means
by which Nigeria can move away
from dependence solely on oil
nigeriatoday
70
tourism
THE NTDC
The Nigerian Tourism
Development Corporation
(NTDC) has also introduced the
Road Network Navigational
Device. According to the NTDC,
this product will facilitate the
seven point agenda of the
current administration by
helping investors and buyers
gain easy access to the
Nigerian and international
tourism markets. Together with
maps of 36 States and the
Federal Capital Territory,
information can be downloaded
onto mobile phones from the
NTDC portal.
nigeriatoday
money for revenue generation.
To achieve this, the government
has drawn up the Nigeria Tourism
Development Master Plan which
is unique in several respects. The
plan is a departure from previous
plans that merely gave a run-down
of government programmes to
be implemented by the various
arms of the public sector, without
any further action being taken.
In effect, most of them remained
on the drawing board for years
until they eventually became
outdated. The minister sees the
private sector as the lead actor in
boosting Nigerian tourism while
the government’s responsibility
is to provide the required policy
Zuma Rock, a large monolith located
in Niger State, just north of Abuja
environment and other incentives.
He favours a public-private
partnership that will drive the
tourism development programme
forward.
The master plan is borne out of
increased awareness in the ministry
that the challenges facing tourism
development should be tackled
head-on as part of Nigeria’s overall
economic diversification. One of the
major challenges facing Nigeria is
the urgent need to build a resilient
and dynamic economy that is well
placed to harness the country’s
abundant resource endowment.
The country’s experience, especially
in the oil and solid minerals sectors
in the past decades, clearly highlights

the shortcomings of Nigeria’s
development strategy that placed
premium on foreign exchange
earnings from non-renewable
natural resources. This experience
clearly demonstrates the fact that
because oil and mineral resources
are non renewable, they have a very
limited potential for addressing the
development challenges that face the
country today and over the medium
to long-term.
high potential
The target of placing Nigeria
in the league of top 20 tourism
countries in the world offers
another good reason for
the review of the country’s
Nigeria has abundant physical
attractions ranging from beaches,
hills, waterfalls, springs, caves, lakes
and mountains across the country
development strategy with a view
to evolving a more proactive
approach towards the challenges.
The minister believes that the
tourism sector should be the key
aspect of the new approach to
national development.
The sector has a high potential
for gainful employment
and its greater disposition
towards programmes that are
71
tourism
Palm trees close to
coastal town of Badagry
environment friendly. Tourism,
according to the minister,
brings about many benefits to
the central government, state
governments, local authorities
as well as the private sector
through receipt of foreign
revenue, taxation of tourists
and tourism products and links
to the local industries. For the
sector to meet the country’s
nigeriatoday
72
tourism

A magnificent Nigerian masquerade

nigeriatoday
 73
tourism
Durbur at the Abuja Carnival 2007

expectations, the government National parks also enhance

over the past eight years has
provided the infrastructure for a ecological processes and life support
more conducive environment for systems such as soil regeneration
investors and good attractions
for tourists.
Many people do not identify economy. The government is also assignment of governance and
Nigeria with tourism, but the adopting public-private partnership providing an enabling environment
authorities are determined to to reduce its direct involvement for the operation of an efficient
correct that impression. The recent in tourism development and and effective private sector driven
forums organised in different management, the financial burden tourism industry.
states demonstrate the federal to the treasury in the funding of
government’s seriousness about tourism projects, bureaucratic master plan
making Nigeria a preferred tourist bottlenecks, and allow a smoother The tourism master plan presents
destination, while ensuring that in decision making process. This a road map for the development of
the long-term tourism would drive approach will enable the government the sector, including the policies
the diversification of the country’s to concentrate on its primary and programmes to be put in place
over the next eight to 10 years
with a view to making Nigeria the
BEACHES leading tourist destination in Africa.
Nigeria has an abundance of beaches including Bar, Lekki and The master plan meets international
Calabar beaches. There is also Coconut Beach, a beautiful beach standards and best practices and
in the coastal town of Badagry, west of Lagos. The beach is attractively is informed by the experiences of
set in an area surrounded by coconut trees. About 20 miles towards the countries that have succeeded
the border of Nigeria and the Republic of Benin, Coconut Beach is in developing their tourism. The
accessible through the Lagos-Badagry expressway. document also reveals Nigeria’s
strengths and weaknesses in

nigeriatoday
74
tourism

A Nigerian cultural troupe

nigeriatoday

tourism development, including
capacity building for the sector,
security, private sector involvement
and the most critical issue, the
lack of an enabling environment
especially with regards to funding,
stimulation of the private sector,
applicability and accessibility of
incentives, multiple taxation and
others. Apart from identifying
potential tourism attractions in
six geo-political regions, it also
identifies five major clusters, each
with a flagship tourism project and
a number of supporting projects.
Attractions
Nigeria has abundant physical
attractions ranging from beaches,
hills, waterfalls, springs, caves,
lakes and mountains across the
length and breadth of the country.
The fascinating features and
beautiful scenes provide interesting
sites for leisure, adventure and
other tourism related activities.
Some of these include the Jos
Wildlife Park, Old Oyo National
Park, Yankari National Park
and Obudu Cattle Ranch.
National Parks are special natural
ecosystems with unique attributes.
They play special tangible and
intangible roles vital to national/
regional well-being as well as act
as a catalyst for the development
of eco-tourism. National parks
also enhance ecological processes
and life support systems such
as soil regeneration, protection
of nutrient cycles, cleansing and
purifying hydrological cycles.
Today there are eight National
Parks in Nigeria.
Cultural festivals
Cultural festivals can now be found
on the internet for visitors keen
to know more. Festivals include,
amongst others, The Argungu
Fishing Festival, New Yam Festival,
Osun Osogbo Festival, The Durbar,
Leboku International Festival and
the Udiroko Festival.
75
tourism
Yankari National Park
Yankari
National Park
Created since 1936 as a
Game reserve, Yankari
National Parks was upgraded to
its present status as a National
Park in 1991 covering an area of
2,250.10km. Located in Alkaleri
Local Government area of
Baauchi State, the park has 110
visitor Chalets at Wikki camp
with a range of facilities to cater
for the international traveler.
52 species of animals have
been identified including
elephants, hippos, hartebeests,
baboons and variety of birds
and fishes. Yankari is also rich
in ethno-historical and
archaeological attractions
including the Marshal caves,
the Dukkey well and the
monumental iron smelting
works of earlier settlements at
Ampara and Shanshau with
standing shaft furnaces.
nigeriatoday
76
sport and youth

NIGERIA HAS made a great impact on the world

of sports. With support from the Government
and private sector, we can expect even more.

Discover
the Sporting
Spirit of Nigeria
A bright future lies ahead for Nigeria with both its Government
and private sector working to promote sports and the youth.

N
igeria is a sporting nation.
For years our sportsmen
and women have excelled at
international sporting events. From
the Summer Olympics to the World
Cup, Wimbledon and track and
field events, Nigeria has contributed
immensely to the growth of sports
in the world.
Akeem Olajuwon of the
Houston Rockets, Austin “Jay Jay”
Okocha, world renowned footballer
and master dribbler, the late Dick
“Tiger” Ihetu, boxing champion
and the Super Eagles, Nigeria’s
national soccer team are just a few
names that have excelled on the
international sporting arena.

Football The Super Eagles continued

Football is the national game of the
country and has been touted as the
greatest unifier of all the peoples
and ideologies in the country.
Nigeria has a number of very skilful
and talented players who have over
the years thrilled soccer fans with
their artistry.
nigeriatoday
our history of success at the Government
Beijing Olympic Games 2008 and private
where they took silver at the Birds
Nest stadium losing 1-0 against sector initiatives
Argentina in the final. The Eagles continue to drive
have won the African Nations
Cup in 1980 and 1994 and won
the promotion of
the Olympic Gold Medal in the sports in Nigeria

Nigerian football players have played…
Chelsea, AC Milan, Juventus, Arsenal
1996 Olympic Games in Atlanta,
Georgia, USA, beating Brazil and
Argentina in the process. The Super
Eagles has also been at the finals
of the FIFA managed World Cup
three times since 1994.
The Junior National Team, the
Golden Eaglets won the maiden
edition of the FIFA Under-16
Youth Championships hosted
by China in 1985. They won the
tournament again in 1993 in Japan
and were runners up in 2001
when they lost to France. At U17
level, Nigeria is the current world
champions after a 3-0 penalty win
over Spain in the final of the 2007
in South Korea. The victory gave
the Golden Eaglets their third
U-17 world title, having won the
tournament in 1985 and 1993.
The Falcons, Nigeria’s Women
Team has also participated in the
sport and youth
finals of the Women’s World Cup
in 2003 hosted by the US, while the
Enyimba Football Club of Aba has
won the Confederation of African
Football (CAF) Championship
Cup twice.
Nigerian football players have
played for notable European
Clubs such as Chelsea, AC Milan,
Juventus, Arsenal and Barcelona.
Famous Nigerian players to grace
the international stage include
Austin Jay Jay Okocha, Nwankwo
Kanu, Victor Ikpeba, Taribo West,
Rashidi Yekini, Obafemi Martins
and Yakubu Aiyegbeni.
SPORT development
Sport continues to be developed
in Nigeria and 2009 will see
Nigeria host the FIFA U17
World Cup. Government and
private sector initiatives continue
77
The Falcons, Nigeria’s
Women Team
Obafemi Martins
TRACK & FIELD
Nigerians have also
excelled in track and field
events. The women’s 4x100
metres team took bronze at the
Bejing Olympics in 2008. In past
games, athletes such as
Innocent Egbunike, Sunday Oti,
Mary Onyali and Falilat
Ogunkoya have done well in
track events and Chioma
Ajunwa won gold in long jump
at the 1996 summer Olympics
in Atlanta, USA.
to drive the promotion of sports
in Nigeria. New talents are being
sought out continuously while
new stadiums and other facilities
are being built to facilitate the
development of the sports in the
country. And, further investment
is being made into grass roots
sport to involve the youth
and encourage the masses to
participate in sporting activities.
Increased investment,
nigeriatoday
78
sport and youth
improving facilities and latest
coaching will see further success
for Nigerian athletes and
teams abroad.
The next few years will see even
more Nigerians winning laurels
at international sporting events
bringing people together at home
and building friendships with other
sporting nations of the world.
Youth development
The youth of today are the leaders
of tomorrow. Empowering our
youth with the skills, education
and jobs and reducing the rate of
poverty in Nigeria is of utmost
importance to this government.
Nigeria has a youthful
population of about 80 million
which is about 60 percent of her
population. Of this, more than
70percent are unemployed even
after obtaining qualifications and
relevant work experience.
Building on measures taken
by past administrations, this
government is taking steps to
tackle these issues. The National
Poverty Eradication Programme
(NAPEP) provides jobs for the
youth and has done a lot to ensure
employment for the young in
different sectors of the economy.
nigeriatoday
The youth policy under the Youth
Development Programme 2008 to 2015
sets out a comprehensive medium term
plan to achieve our goals
But Federal Government and
the Federal Ministry of Youth
Development is taking proactive
measures to do more for
the youth.
The youth policy under the
Youth Development Programme
2008 to 2015 sets out a
comprehensive medium term
plan to achieve our goals.
In the 2008 Appropriation,
government approved the
establishment of Youth
Development Centres in each
geo-political zone of the federation
with the objective of providing
skill acquisition, entrepreneurial
development and capacity building.
In the budget, the Ministry of
Youth and Development approved
spending of about N345 million in
each zone to kick-start the centres.
Further appropriation will be made
in the 2009 budget.
THE SHELL CUP
Several corporate organisations
have also begun programmes to
prepare the youth to be self-reliant
and become employable in a
competitive environment. Shell
manages an Intensive Training
programme, designed to develop
the skill of young Nigerian
graduates and technicians to
prepare them for employment in

the oil industry. They also run a
Youth Development Scheme which
is a vocational, skills-training
programme in which participants
acquire necessary skills for self
employment or eligibility for
employment. The Shell Cup, a
successful nationwide football
competition, ensures that talented
youths are able to combine
education with developing their
football skills and career.
Encouraging youth
development across the region
is a further step government is
taking to address the issue. The
Minister of Youth Development,
Senator Akinlabi Olasunkanmi
spoke recently on the various
sport and youth
With the continued commitment of
government and working together with
the private sector, Nigeria will provide
a brighter future for all
activities of his ministry and
what the federal government is
doing to tackle these issues. “The
ministers of Youth Development
in the ECOWAS sub-region
decided that we want to introduce
youth volunteerism across the
ECOWAS sub-region, so that
youths from English speaking
countries will volunteer to work
in French speaking countries. We
79
National Open
University of Nigeria
believe this will further cement
both cultural and linguistic
integration in the sub-region.
We believe that the programme
will be funded by governments
of ECOWAS countries.”
With the continued commitment
of government and working
together with the private sector,
Nigeria will provide a brighter
future for all.
nigeriatoday
80
media & film

nigeriatoday
 81
media & film

With a history of independence and outspokenness,

the Nigerian media is a thriving industry.

H
istorically, Nigeria has
boasted the most free
and outspoken press
of any African country. The
press has championed Nigeria’s
independence and has been credited
for having helped in the country’s
transition to civilian government,
but has also been the target of
harassment by the past military
dictatorships. Today, under the
governance of Nigeria’s current
civilian president, Umaru Musa
Yar’adua, Nigeria boasts a range
of newspapers, television and radio
stations and a thriving film industry
catering to a wide audience both
within Nigeria and abroad.

With over 100 national and local

newspapers, the press scene is one
of the most vibrant in Africa

nigeriatoday
82
media & film
Newspapers & websites
With over 100 national and local
newspapers, the press scene is
one of the most vibrant in Africa.
The first newspaper, a Christian
mission publication, was established
in 1859 in Abeokuta. Today,
there are 4 very large newspaper
organizations, the Daily Times,
This Day, Punch and the Guardian.
In the North (Kaduna) there is
the New Nigerian and from Abuja
there is the Daily Trust. Virtually
all Nigerian newspapers have an
internet presence; in addition, there
are several websites which enable
Nollywood… has become the third
largest in the world, after the Indian
and United States markets with over
2,000 low budget films every year
nigeriatoday
Nigerians to air their opinions
on a variety of topics. Radio and
newspapers remain the primary
means of consuming information
in the country, but as internet
penetration increases, so demand
via the websites is set to soar.
Television and radio
Nigeria was the first sub-
Saharan country to allow private
broadcasting. In 1991, after 50
years of government monopoly,
the first private broadcasters
began operating. Two years later
the first official private broadcast
This is Nollywood is a documentary
film that captures the spirit of
Nigeria’s booming movie industry
licences were issued. Now Nigeria’s
television industry is one of the most
competitive in Africa. Nigeria is
home to numerous broadcasters and
an extensive state-owned network
operated under the National
Television Authority (NTA).
Television broadcasting dates back
to the launch of Western Nigeria
Television in 1959, now part of the
27 stations operated by the publicly-
run National Television Authority.
Under the NTA, 25 of Nigeria’s 30
constitutional states operate their
own TV stations and 18 of these
stations are TV Africa affiliates.
Radio stations are also increasing
in numbers and remain the key
source for many Nigerians. The
Federal Radio Corporation of
Nigeria operates “Radio Nigeria”
stations in Abuja, Lagos, Ibadan,
Kaduna and Enugu. Private stations
such as Freedom Radio (based

With over 100 national and local
newspapers, the press scene is one
of the most vibrant in Africa
in Kano) and Voice of Nigeria,
an external service via shortwave
are also widely listened to. The
BBC World Service as well as the
Voice of America and the German
broadcasting organization Deutsch
Welle also provide shortwave radio
in the Hausa language.
Nigerian films
Nigeria began its film industry in the
1970s and owes much of its growth
to the likes of renowned film-makers
Herbert Ogunde and Ola Balogun.
However, television broadcasting
in Nigeria began in the 1960s and
received much government support
in its early years. By the mid-1980s
Music, and
Sunny Neji
has sold over
5 million copies
of Mr. Fantastik
in Nigeria alone
every state had its own broadcasting
station. Law limited foreign
television content so producers in
Lagos began televising local popular
theatre productions. Many of these
were circulated on video as well, and
a small scale informal video trade
developed. The use of English rather
than local languages served to expand
the market. Aggressive marketing
using posters, trailers, and television
advertising also played a role in the
development of the industry.
Many point to the 1992
release of Living in Bondage, a
film about a businessman whose
dealings with a money cult result
in the death of his wife, as the
83
media & film
MAJOR NIGERIAN
Newspapers &
magazines
■ Iwe Irohin (est. 1859)
– defunct
■ Daily Times (1926)
■ Nigerian Tribune (1949)
■ New Nigerian (1966)
■ The Nigerian Observer (1968)
■ The Chronicle (1970)
■ The Tide (1971)
■ Nigerian Standard (1972)
■ The Punch (1973)
■ Daily Star
■ The Voice (1977)
■ The Triumph (1982)
■ The Guardian (1983)
■ Vanguard (1984)
■ Newswatch (1985)
■ Daily Champion (1988)
■ The Pioneer (1988)
■ Tell (1991)
■ TheNews (1993)
■ ThisDay (1995)
■ Daily Trust (1998)
■ Financial Standard (1999)
■ BusinessDay (2001)
■ The Insider (2001)
■ Daily Independent (2001)
■ The Sun (2003)
■ The Market (2004)
■ Leadership (2004)
■ BusinessWorld (2006)
■ Broad Street Journal (2006)
■ The Business Eye (2007)
■ National Daily (2006)
■ The Telegraph (2008)
■ Business & Economy (2008)
■ The Nigerian Compass (2008)
■ The People’s Daily (2008)
Private
Television
stations
■ DBN (est. 1994)
– Lagos based channel
■ DITV Kaduna (1994)
■ MBI (1996)
■ AIT (1996), owned by Daar
Communications. Lagos
based private station
broadcasting beyond Abuja
and to the Northern States
and has just launched a
satellite broadcast facility
■ Channels Television (1995)
■ MITV (1998)
Lagos based channel
■ Silver Bird (2005)
nigeriatoday
84
media & film
Studio Tinapa
Private Radio
Stations
■ Ray Power FM - Owned by
AIT, Lagos based and
broadcasting in Abuja
■ Rhythm FM
■ Cool FM
■ Capital FM
■ Aso FM
■ Vision FM
■ Plus several other FM
stations across the country

Public
Broadcast
Stations
■ Radio Diffusion
System (1935)
■ Nigeria Broadcasting
Service (NBS) (1951)
■ Radio Nigeria Ibadan (1955)
■ Nigerian Broadcasting
Corporation (1956)
■ Western Nigeria
Broadcasting Corporation
(WNBC TV) – 1959 – (now industry’s first blockbuster. Studio Tinapa…
NTA Ibadan)
■ Eastern Nigeria Broadcasting
Since then, thousands of movies
have been released. One of the a one stop shop
Service (ENBC) – 1960 (now first Nigerian films to reach Film/Television/
NTA Enugu)
■ NBC TV Lagos (1962)
international fame was the 2003
release Osuofia In London,
Music Industry
■ Broadcasting Corporation starring Nkem Owoh, the famous Centre
of Northern Nigeria (BCNN) Nigerian comedic actor.
Kaduna – 1962 Directors used English and
■ Voice of Nigeria (began as local languages, especially Yoruba Over 30 new titles are delivered to
the external service arm of to distribute films. During the shops and stalls every week, where
NBC Radio in 1962 and
1980s, Nigerian films started an average film sells over 50,000
became an autonomous
circulating throughout West copies and a big hit may sell several
station in 1990)
■ Nigerian Television Authority
Africa and further abroad. Now hundred thousand. The appeal is
(NTA) – 1976 – an amalgam of there is considerable demand that producers and directors can
WNBC TV Ibadan, NBC TV especially among members of tell Nigerian stories to Nigerian
Lagos, Eastern Nigeria TV the African Diaspora throughout people in a Nigerian way. Sanya
and Broadcasting Europe and America. Nollywood, Dosunmu, Jab Adu, Ola Balogun
Corporation of Northern as it is commonly known, also and Eddie Ugbomah head the list
Nigeria (BCNN Kaduna) became popular in Zambia of Nigerian filmmakers with others
■ Federal Radio Corporation when the national broadcaster, including Ade Foloyan, Moses
of Nigeria (FRCN) – 1978 – Zambia National Broadcasting Adejumo Olaiya, Herbert Ogunde
an amalgam of NBC Lagos, Corporation (ZNBC), went into and Bankole Bello. The industry
Ibadan, Enugu and Radio partnership with a multinational has become the third largest in the
Nigeria Kaduna company, Unilever, and started world, after the Indian and United
■ State Television, AM and airing Wale Adenuga’s soaps called States markets, with a turnover of
FM Radio stations in the
Super Story. Nigerian stars have over 2,000 low budget films per
36 states
also become household names in year and has grown to a $250million
Ghana and South Africa. industry employing thousands.

nigeriatoday

www.nollywood.com
The first Nollywood films
were produced with traditional
analogue video, such as Betacam
SP, but today all Nollywood
movies are produced using digital
video technology. Nigeria now
boasts Studio Tinapa, built in
2007 in collaboration with Dream
Entertainment, a Hollywood
based production and Distribution
Company as a one stop shop Film/
Television/ Music Industry Centre
in Calabar. The Ultra modern
Tinapa Film Studio located within
the Tinapa Free Zone & Resort,
Calabar, Cross River State, has been
established to provide first class
production and post production
support services to both local
and foreign film, television and
music producers using the best
equipment available in the industry.
Apart from becoming a tourist
destination, attracting visitors from
all over the world who are be able
to learn how movies are made,
it is fast becoming the home of
Nollywood and venue for annual
Film festivals in Nigeria.
85
media & film
Protecting the freedom
of the press
Nigerian Press Council exists to create an enabling
environment to maintain the highest ethical and professional
standards. The Council responds to the needs of the Nigerian mass
media and the public by facilitating through complaints resolution,
research training and workshops the sustainable development of
journalism profession, curricula and accreditation of journalism
training institutions in Nigeria.
In addition, Media Rights Agenda (MRA) was established in 1993
as an independent, non-governmental, not-for-profit organization
for the purpose of, among other things, promoting and protecting
media freedom and freedom of expression in Nigeria. MRA is
registered in Nigeria and has Observer Status with the African
Commission on Human and Peoples’ Rights. The specific mandate
of the organisation is:
■ To promote respect and recognition for media freedom
and freedom of expression in Nigeria;
■ To provide protection and support for journalists and writers
engaged in the lawful pursuit of their professional duties;
■ To promote the highest standards of professional ethics, integrity,
training and conduct in the journalism profession; and
■ To bring about a conducive social and legal atmosphere for the
practice of journalism, and in particular, ensuring the protection
of the journalist’s right not to compelled to work against his or
her conviction or disclose sources of information.
nigeriatoday
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reforms and challenges

Nigeria Reforms
and Challenges
President Yar’Ardua’s zero tolerance for corruption
is the gateway to Nigeria’s future progress.

F President Yar’Ardua has declared

ollowing years of economic
stagnation, Nigeria embarked
on a comprehensive reform a zero tolerance for corruption
programme during the second term
of the Obasanjo administration.
The programme was based institutional and governance and in extending reform policies
on the National Economic reforms. Although there have to states and local governments.
Empowerment and Development been notable achievements under With a population of 140
Strategy (NEEDS) and focused the programme, significant million people, Nigeria is the
on four main areas: improving challenges exist, particularly in most populous country in Africa,
the macroeconomic environment, translating the benefits of reforms with a GDP second only to South
pursuing structural reforms, into welfare improvements Africa’s. Yet, following several years
strengthening public expenditure for citizens, in improving the of military rule and poor economic
management, and implementing domestic business environment, management, Nigeria experienced
a prolonged period of economic
stagnation, rising poverty levels, and
the needs the decline of its public institutions.
The National Economic Empowerment and Development By most measures, human
Strategy (NEEDS) focused on four main areas: improving development indicators in Nigeria
the macroeconomic environment, pursuing structural reforms, were comparable to that of other
strengthening public expenditure management, and implementing least developed countries while
institutional and governance reforms. widespread corruption undermined
the effectiveness of various

nigeriatoday

Abuja, the capital city of
Nigeria officially became the
capital on 12 December 1991
87
reforms and challenges
Challenges
Although Nigeria has made significant progress with its
current reform programme, many other challenges remain,
particularly in translating the benefits of reforms to citizens, in
improving the domestic investment climate, and in extending the
reform programme to the state and local government levels. The
current reform programme must therefore be viewed as the initial
steps of a much longer journey of economic recovery and
sustained growth.

democratic practices, and tackling A key tenet of the

public expenditure programmes.
Moreover, the lack of public
investments in previous decades
meant that there were severe
infrastructural bottlenecks that
hindered private sector activities.
In particular, the poor condition of
the power sector prior to economic
reforms illustrated the severity of
Nigeria’s infrastructure deficit.
Per capita power consumption
in Nigeria was estimated at 82
kilowatts (kW) compared with an
average of 456kW in other sub-
Saharan African countries
and 3,793kW in South Africa.
Reforms
Following elections in 1999, the
first administration of President
Olusegun Obasanjo (1999-
2003) focused on ensuring
political stability, strengthening
corruption. The second Obasanjo
administration (2003 – 2007)
embarked on a comprehensive
economic reform programme based
on a homegrown strategy, the
National Economic Empowerment
and Development Strategy
(NEEDS). The development of
NEEDS at the federal level was
complemented by individual State
Economic Empowerment and
Development Strategies (SEEDS),
which were prepared by all 36
Nigerian states and the Federal
Capital Territory (FCT). The
NEEDS programme emphasized
the importance of private sector
development to support wealth
creation and poverty reduction
in the country. The objectives of
NEEDS were addressed in four
main areas: macroeconomic reform,
structural reform, public sector
reform, and institutional
and governance reform.
Corruption
A bane of Nigeria’s existence since
the oil boom of the 1970s has been
the reputation for corruption,
largely justified, but also partly the
result of perception. Corruption
and poor governance affected
growth and public service delivery
in Nigeria in various ways.
Corruption distorts the climate
for doing business and serves
as a tax on private investments.
In a corrupt environment,
resources for human capital and
other needed investments, such
as in infrastructure, health and
education are often diverted.
There are various ways in
reform program
is to prioritize
anti-corruption
measures
which this may occur, including
procurement fraud, patronage
for access to services, absenteeism
and misuse of facilities. In
particular, poor households
are disproportionately hurt in
communities where corruption
is most prevalent.
A key tenet of the reform
program, therefore, is to prioritize
anti-corruption measures as a
central component of the reforms.
President Yar’Ardua has declared a
zero tolerance for corruption. But
the danger is that the Economic and
Financial Crimes Commission, once
famed for its aggressive approach
to fighting corruption, must ensure
that it does not become another
Nigerian law enforcement agency
– picking up on the poor and
suffering the powerful.
Niger Delta
Then there is the matter of the
Niger Delta crisis. The Delta
has suffered years of neglect,
marginalization and environmental
degradation. Despite its
contributions to the economy, it
is one the poorest regions in the
country. The area lacks the most
basic of infrastructure. A country
that can build Abuja from scratch
with wealth from the Delta oil, can
afford to develop the region.

nigeriatoday
88
agenda

Seven (plus
Two) Point
Agenda
President Yar’Adua’s Seven plus Two Point Agenda
to transform Nigeria details Education, Power and Food
through to Land Reformation, and Transportation.

THE MAJOR ISSUES

1 Power and Energy 5 Land Reform
hard work by
2 Food Security and Agriculture
3 Wealth Creation and Employment
6
7
Security
Qualitative and
all is required
4 Mass Transportation Functional Education
to achieve
Plus TWO Special Interest Issues…
1 Niger Delta + 2 Disadvantaged Groups
this [wealth
creation]
reform
POWER WEALTH CREATION
AND ENERGY By virtue of its reliance on revenue
With the arrival of infrastructural from non-renewal oil, Nigeria
reforms in this critical sector, has yet to develop industrially.
namely through the development This reform is focused on wealth
of a sufficient and adequate creation through diversified
power supply, will be to ensure production especially in the
Nigeria’s ability to develop as agricultural and solid mineral
a modern economy and an sector. This requires Nigerians to
industrial nation by the choose to work, as hard work by all
year 2015. is required to achieve this reform.

FOOD SECURITY technology… will

This reform is primarily agrarian based. The emphasis is on the revolutionalize the
development of modern technology, research, financial injection
into research, production and development of agricultural inputs
agricultural sector
will revolutionalize the agricultural sector leading to a 5 - 10 leading to a 5 - 10
fold increase in yield and production. This will result in massive
domestic and commercial outputs and technological knowledge
fold increase in yield
transfer to farmers. and production
nigeriatoday
 89
agenda
TRANSPORT
SECTOR
The transportation sector in
Nigeria with its poor roads
networks is an inefficient means of
mass transit of people and goods.
With a goal of a modernized
industrialized Nigeria, it is
mandatory that Nigeria develops
its transport sector. The PDP
government has already started
this process by the ongoing
rehabilitation and modernization
of the railway. While the reforms
might take some time to take
effect, it is a need that must be
addressed.

LAND REFORMS
While hundreds of billions of
dollars have been lost through
unused government-owned
landed asset, changes in the land
laws and the emergence of land
reforms will optimize Nigeria’s
growth through the release of
lands for commercialized farming
and other large scale business
by the private sector. The final
result will ensure improvements
and boosts to the production and
wealth creation initiatives.

SECURITY
An unfriendly security climate
precludes both external and
internal investment into the nation.
Thus, security will be seen as not
only a constitutional requirement
but also as a necessary
infrastructure for the development
of a modern Nigerian economy.
EDUCATION With its particular needs, the Niger
The two-fold reforms in the educational sector will ensure firstly the Delta security issue will be the
minimum acceptable international standards of education for all. With primary focus, marshalled not
that achieved, a strategic educational development plan will ensure with physical policing or military
excellence in both the tutoring and learning of skills in science and security, but through honest
technology by students who will be seen as the future innovators and and accurate dialogue between
industrialists of Nigeria. This reform will be achieved through massive the people and the Federal
injection into the Education sector. Government.

nigeriatoday
90
needs
The National Economic Empowerment
and Development Strategy
In May 2004, the National
Economic Empowerment and
Development Strategy (NEEDS)
was launched as Nigeria’s home
grown plan for poverty reduction
and prosperity. It is the people’s
way of letting the government
know what kind of Nigeria they
wish to live in now and in the
future. It is the government’s way
of letting the people know how it
plans to overcome the deep and
pervasive obstacles to progress
that the government and the
people have identified. It is also
a way of letting the international
community know where Nigeria
stands in the region and in the
world and how it wishes to
be supported.
NEEDS focuses on four
key strategies: reorienting
values, reducing poverty,
creating wealth, and generating
employment. It is based on the
notion that these goals can be
achieved only by creating an
environment in which business
can thrive, government is
redirected to providing basic
services, and people are
empowered to take advantage of
the new livelihood opportunities
the plan will stimulate.
Reorienting values
NEEDS sets out far-reaching
public reforms that will
make clear that corruption
and graft will be punished.
NEEDS is about the Nigerian
people. Their welfare, health,
employment, education, political
power, physical security and
empowerment are of paramount
importance in realizing this vision
of the future.
nigeriatoday
Reducing poverty
and inequality
The plan proposes acting
on several fronts:
Offering farmers improved
irrigation, machinery, and
crop varieties will help boost
agricultural productivity and
tackle poverty head on, since half
of Nigeria’s poor people work in
agriculture. Supporting small and
medium-size enterprises will help
create jobs. Together with the
State Economic Empowerment
and Development Strategies
(SEEDS), NEEDS seeks to
implement an integrated rural
development programme to stem
the flow of migration from rural to
urban areas.
NEEDS recognises the
importance of children by
making the improvement of the
education system a top priority.
Health care delivery will be
improved with emphasis placed
on HIV/AIDS and other preventive
diseases, such as malaria,
tuberculosis and reproductive
health-related illnesses.
NEEDS proposes special
programmes targeting people
who have weakest political voice
and who are vulnerable to the
ravages of poverty. Laws and
programmes will be implemented
to empower women, children,
and the elderly.
Empowering people
By allowing the private sector
to thrive, NEEDS creates
opportunities for employment
and wealth creation. lt empowers
people to take advantage of
these opportunities by creating
a system of incentives that
rewards hard work and punishes
corruption by investing in
education, and by providing
special programmes for the most
vulnerable members of society.
Promoting private
enterprises
The private sector will be the
engine of economic growth under
NEEDS. The government will
play the role of enabler, facilitator,
and regulator, helping the private
sector grow, create jobs, and
generate wealth. Deregulation
and liberalization will diminish
governmental control and attract
private sector investment. More
reliable electricity supply and
a new and better maintained
network of roads will encourage
businesses to expand.
Changing the way
government works
NEEDS aims to restructure the
government, to make it smaller,
stronger, better skilled and more
efficient at delivering essential
services. It seeks to transform
the government to an institution
that spurs development and
serves the people.
Our future, our plan
NEEDS is Nigeria’s development
plan, inspired by current
challenges for change and
vigorous growth. Government is
working closely with the people
of Nigeria, civil society, the private
sector and the international
community to face the challenges
of steering the country towards
the 2020 vision of becoming one
of the world’s top 20 economies.

List of the
Federal Ministries
Ministry of Agriculture
and Water Resources
Address: FCDA Secretariat, Plot
B 135, Area 11, Garki, Abuja.
Phone: +234 9 3141931, 3142405
Fax: +234 9 3142532
Website:
http://www.ministryofagric.gov.ng
Ministry of Commerce
and Industry
Address: Block H, Old Federal
Secretariat, Garki Area 1, P.M.B 88,
Garki, Abuja.
Phone: +234 9 2341662, 2341490
Fax: +234 9 2341541
Website:
http://www.commerce.gov.ng
Ministry of Culture,
Tourism and National
Orientation
Address: Phase II, Federal
Secretariat, Block A, 1st Floor,
Shehu Shagari Way, Abuja.
Phone: +234 9 2348297,
2348311, 2348310
Fax: +234 9 23408283
Website:
http://www.visit-nigeria.org
Ministry of Defence
Address: Ship House,
Area 10, Abuja.
Phone: +234 9 2340534,
2348975, 2348970
Fax: +234 9 2340714, 2343037
Ministry of Health
Address: New Fed. Secretariat
Complex, Phase III, Ahmadu Bello
Way, Cen. Biz. Distr, Garki, Abuja
Phone: +234 9 5238362
Fax: +234 9 5234590
Ministry of Education
Address: Federal Secretariat
Complex, Shehu Shagari Way,
Central Area, P.M.B. 146, Garki,
Abuja.
Phone: +234 9 5232800, 6710906
Website: http://www.fme.gov.ng
Federal Ministry of
Environment, Housing
and Urban Development
Address: Mabushi, Abuja.
Phone: +234 9 6712537, 6721603
Federal Capital
Territory Administration
(Presidency)
Address: Kapital Street, Off
Obafemi Awolowo Street, Garki
Area 11, P.M.B. 25, Garki, Abuja.
Phone: +234 9 3148135,
3141295, 3141019
Fax: +234 9 3143859
Website: http://www.fct.gov.ng
91
directory
Ministry of Finance
Address: Plots 745 & 746,
Ahmadu Bello Way, Central Area,
P.M.B 14 Garki, Abuja.
Phone: +234 9 2346290-5
Fax: +234 9 2340512
Website: http://www.fmf.gov.ng
Ministry of Energy
Address: Block ‘D’ NNPC Towers,
Herbert Macaulary Way, Central
Business District, PMB 449, Abuja.
Phone: +234 9 5239462,
5239465, 5237064
Fax: +234 9 5236652
Website: http://www.mpr.gov.ng
Ministry of
Foreign Affairs
Address: Maputo Street, off
Abidjan Street, Wuse Zone 3,
P.M.B. 130, Garki, Abuja.
Phone: +234 9 5230204-6,
5230570, 5230825, 6002588,
5230490, 5230492, 5230828,
5230185-9
Website: http://www.mfa.gov.ng
Ministry of Information
and Communications
Address: Radio House, Herbert
Macaulay Way (South), Area 10,
P.M.B. 247, Garki – Abuja
Phone: +234 9 2346351,
5237183, 5238232, 2344107
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92
directory
Ministry of Interior
Address: Block F, Old Federal
Secretariat, Garki Area 1, P.M.B.
7007, Garki – Abuja.

Federal Ministry
of Justice
Address: Federal Secretariat
Towers, Shehu Shagari Way,
Central Area, P.M.B. 192, Garki,
Abuja.
Phone: +234 9 5235208, 5237676
Fax: +234 9 5235194

Ministry of Labour
Address: Block 4A, Federal
Secretariat Complex, Shehu
Shagari Way, Central Area, Abuja
Phone: +234 9 5235973,
5235994, 5235980
Website: http://www.fmlp.gov.ng

Ministry of Mines and

Steel Development
Address: Block 5, Federal
Secretariat Complex, Shehu
Shagari Way, Central Area, Abuja.
Phone: +234 9 5239465, 5237064
Fax: +234 9 5236652, 2343563
National Planning
Commission (Presidency)
Address: Old CBN Building,
P.M.B. 230 Garki, Abuja.
Phone: +234 9 2344465
Website:
http://www.nigerianeconomy.org
National Sports
Commission (Presidency)
Address: Annex 2, Federal
Secretariat, Shehu Shagari Way,
Maitama, Abuja.
Phone: +234 9 5235905
Fax: +234 9 5235901
Ministry of Science
AND Technology
Address: 5/9th Floor, New
Federal Secretariat, Shehu Shagari
Way, Central Area, Garki, Abuja.
Phone: +234 9 5233397
Fax: +234 9 5235204, 5233903
Website:
http://www.fmst.gov.ng
National Assembly, Abuja
Ministry of
Transportation
Address: Dipcharima House,
Central Business District, Off 3RD
avenue, P.M.B. 0336, Garki, Abuja.
Phone: +234 9 2909241,
7802807, 2347451, 2347452
Fax: +234 92317453, 2347453
Ministry of
Women Affairs
Address: Annex 3, New Federal
Secretariat, Shehu Shagari Way,
Central Area, Garki, Abuja.
Phone: +234 9 5237112,
5238341, 5238864
Fax: +234 9 5233644
Website: http://www.fmwa.gov.ng
Ministry of Youth
Development
Address: Abuja.

nigeriatoday
 93
directory

Useful Information
for Tourists and Travellers
How to get to Nigeria
Getting to Nigeria is very easy, with several airlines
serving the country from all over the world. You can
come by air, sea or road. Gateway cities are Abuja,
Lagos, Port Harcourt, Calabar and Kano if you come
by air. By sea, you arrive at Lagos, Port Harcourt
or Calabar. Or you may come by road from any of
the neighbouring countries - Benin, Niger, Chad,
Cameroon. And once inside Nigeria, you can travel to
any part of the country by air or road.
Currency
The currency is the naira (N) which is divided into 100
kobo. Currency notes are issued in denominations of
N5, N10, N20, N50 and N100. Coins are issued in 10K,
25K, and N 1. Except for hotel bills, visitors can do their
shopping and other businesses in the local currency.
There are a number of Bureaux de Change and banks at
each International airport where visitors can convert from
local to foreign currency, and vice versa. Major Banks
with international branches operate electronic money
transfer services.

Entry formalities Currency regulations

Visitors from the Commonwealth countries as well
as other nations require an entry permit, obtained in
advance, and the application should be supported by
a letter of invitation and a return ticket for the journey.
Processing will take at least two days.
There are no restrictions on importation of foreign currency.
A currency declaration is, however required both on
arrival and departure, for large sums of money in excess
of US$5,000.00. Import or export of Nigerian currency is
strictly limited to N5.000 (five thousand Naira only).

Health regulations Baggage examination

An international vaccination certificate against yellow International airports in Nigeria are staffed by customs
fever (10 years) is required. Cholera (6 months) is also officers who conduct normal checks of baggage on all
required if coming from an infected area. Anti-malaria international arrivals. Standard security checks are in
prophylaxi and TB inoculation are recommended. operation at all Nigerian entry ports.

When to visit
You can visit Nigeria all the year round. But the traveller planning a visit
should take the following into consideration:

Rain falls, particularly in the south, between May and September.

It can be heavy in June and can cause inconveniences.

Temperature ranges from 23-31 °C in the south, with high humidity.

A cooler, but dusty harmattan season stretches from December to January.

nigeriatoday
94
nigeria the heart of africa
I am one of every five Africans
I am a Nobel Prize winner
An Olympic Gold Medalist
A soccer champion
A Prince of the Vatican
A giant of literature
A musical icon

My roots lie in the dusty Sahel of the North

In the rich rainforests of the East
In the Savannah plains of the West
And in the oil filled swamps of the Delta
In the warmth of our villages and vibrance of our cities
My strength flows from the waters of the Niger and Benue
My joy springs from the rush of the Gurara Falls
And the natural wonders of Yankari

I am the voice of 250 tribes speaking more than 300 languages

I am the dance of the circle of life
I am the laughter of the world’s happiest people
I am your neighbour
I am your friend
I am a warrior, priest and King
I am a mother, teacher, Queen
I am my brother’s keeper
I am a sage from an ancient civilization

Nigeria is my rock
Nigeria is my hope
Nigeria is my home
I am a child in one of the largest nations on earth
I am the beauty
I am the vision
I am the spirit
I am the soul of a continent
I am a Nigerian
I am the Heart of Africa
nigeriatoday
 Ministry of Information & Communications
Government of Nigeria
Radio House, Herbert Macaulay Way (South), Area 10, Garki – Abuja, Abuja
NIGERIA

Emails: info@nigeria.gov.ng | brandproject@yahoo.com

Websites: www.nigeria.gov.ng | www.heartofafrica.com

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