ARCHIVE

Private-sector participation is crucial to building a power sector that can unleash the economy's full potential

Setting tariffs that provide electricity at the lowest cost to consumers, while bringing in decent returns for the industry and encouraging new investment can be a tricky balancing act

The government is drawing a roadmap to ensure a steady power supply in the future. The privatisation of the Power Holding Company of Nigeria means its entities are increasingly private sector oriented and open to international investors

You take a country in which agriculture is the primary economic activity, that is home to 20 per cent of Africa's total population and that has doubled its GDP over the past 13 years to grow at a current rate of 7.4 per cent, and most people would expect to find a market of hungry consumers of staple foods and whatever processed products can be made from them

'Cadastrophic' might be the word that best describes the state of Nigeria's mining sector up to 2006, when the government then in office assumed responsibility for regulating, supervising and facilitating the activity, as well as for cleaning up the mess left over from decades of neglect and indifference

Nigeria's mining industry has 'come of age' with new developments that include investment-friendly laws, privatisation of the sector, the creation of a robust regulatory environment and improvements in infrastructure

Agriculture, employing over 70 per cent of Nigeria's population, is a mainstay of the country's economy. However, rising food prices and food scarcity worldwide as well as challenges such as infrastructure gaps remain obstacles the country must overcome in order to feed and empower its citizens and move the country forward

The goal of the government is to make Nigeria an agriculturally industrialized economy, to create wealth, jobs and markets for farmers, and to revive the rural economy. With 70 per cent of employment deriving from the agricultural sector, the needs for its development are obvious

Due to new regulation on cement imports, FMN ventures into cement production through its Unicem subsidiary, in partnership with Holcim and LaFarge, but keeps options open for further international collaborations

With its core focus on the food business, Flour Mills of Nigeria seeks to diversify its line of business and has ventured into agro-allied business, cement production and infrastructure development, among other areas