The Oxford Business Group (OBG), has announced its readiness to release a comprehensive report detailing Nigeria’s economic outlook for 2020, with emphasis on the country’s drive to boost investment.
The Group also revealed that the report will capture the efforts of Nigeria to liberalise its economy and attract Foreign Direct Investment (FDI), as well as the country’s plans to enhance its business environment by improving the regulatory framework currently in place and reducing bureaucracy.
Sectors of the economy, which the Group identified as ‘ripe for growth’ – real estate, mining, agriculture and ICT – would be covered in the report, as well.
“The Report: Nigeria 2020 will also shine a spotlight on the Africa Continental Free Trade Area (AfCTA), as the initiative enters its operational phase. OBG will consider both the potential for regional growth that the free trade area holds and the challenges that risk delaying its progress. Readers will also find analysis of the opportunities that the AfCTA could signal for Nigeria, which was one of the last countries to sign the agreement”, it said.
In addition, OBG has signed a Memorandum of Understanding (MoU) with the Abuja Chamber of Commerce and Industry (ACCI) for the publication of the report. “Under the agreement, the ACCI will help OBG in its research for The Report: Nigeria 2020 and other content that will be made available across the Group’s platforms, which is expected to include charting the economic expansion underway in the capital city of Abuja”, the Group said.
The President of ACCI, Prince Adetokunbo Kayode, expressed optimism on the potential the collaboration holds, not just for Abuja but the economy of Nigeria, adding that he looked forward to teaming up with OBG for its forthcoming report.
“These are significant times for the Federal Capital Territory and Abuja in particular, which continues to attract investment for a wealth of projects across the economic sectors. Oxford Business Group’s reports on emerging markets are known to be leaders in their field, providing investors with accurate, reliable data which can sometimes be difficult to come by. I have no doubt that its report on Nigeria’s evolving economy will serve as a valuable tool for business leaders keen to participate in the next phase of the country’s development”, he said.