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Nigeria ready to blossom
Umaru Yar’Adua, Nigeria's new president
Over the past decade, the word ‘potential’ has become synonymous with Nigeria, as the resource-rich nation’s progress has been stymied by political and economic instability. Much progress has been made on both fronts, and under new president Umaru Yar’Adua Nigeria looks set to deliver on its promise. Charlie Corbett reports.
Cashing in
Olukatode Pitan, director, Unity Bank in Lagos
Political stability, economic growth, foreign investment, oil wealth, a growing middle class; there are many reasons why Nigeria’s banks have amassed large capital bases. As Charlie Corbett reports, the dilemma now is how to use it.
Less risk, more reward
Foreign investors’ confidence in Nigeria is improving as governmental efforts to tackle corruption and bribery start to yield positive results. By Nick Kochan.
London calling
One strategy that Nigerian banks are following to boost return on capital is setting up shop in London. Nick Kochan explores the challenges they face.
Chasing the main prize
Andrew Cornthwaite, Renaissance Capital
Renaissance Capital has investments all over Africa but, as deputy chief executive Andrew Cornthwaite tells Nick Kochan, its focus is firmly on Nigeria.
A state of disrepair
The dire state of Nigeria’s transport and power sectors are hindering the country’s growth. President Yar’Adua has made tackling the problem a priority for his administration but the sheer size of the task makes international investment crucial. By John McCarthy.
Nigeria’s new energy
Like many of his predecessors, President Yar’Adua will be judged on his management of Nigeria’s energy sector. With this in mind, the premier will be personally overseeing his overhaul of the country’s oil and gas industries, write Eleanor Gillespie and Jon Marks.
