The stakes are unusually high: the economy is under intense pressure from inflation, unemployment and widening inequality; insecurity persists in multiple regions, from banditry and terrorism in the North to communal clashes and militancy in the South; and public institutions are grappling with questions about their credibility, autonomy and capacity.
Nigeria’s diaspora, over 17 million strong, contributes more than USD 20 billion annually—often surpassing oil revenues—while transferring skills, mentoring startups, and shaping Nigeria’s global image. Yet, despite their profound stake, they remain excluded from federal elections, creating a democratic deficit. With diaspora voting legislation gaining momentum, Nigeria faces a defining choice: act decisively to enfranchise its global citizens by 2027 or risk another cycle of exclusion. This moment offers a blueprint to strengthen democracy through its worldwide citizenry.
Nigeria’s private sector holds immense potential, but systemic frictions—regulatory inefficiencies, infrastructure gaps, and weak contract enforcement—continue to limit growth. This report offers a structural assessment of the business environment across five critical pillars, highlighting the urgent need for institutional reform. While recent policy efforts show intent, deeper, systemic change is required to unlock investment, drive innovation, and position the private sector as a key engine of national development. The time for coordinated, transformative reform is now.
Historically, Nigeria has ranked highly in terms of terrorism and oil production, respectively. Nigeria holds a vast amount of wealth in its energy sector, possessing the tenth-largest oil reserves and serving as the sixth-largest exporter of oil (and the largest…
In a time of great uncertainty, where Nigeria’s potential is tested by economic challenges, political instability, and social divides, the call for decisive action has never been louder. The Nigeria Forum 2024, set for November 1st, 2024, in Lagos, is…