Nigeria’s latest economic reform agenda is increasingly centred on expanding access to credit as a catalyst for growth. The Federal Government believes that strengthening the country’s credit ecosystem could unlock more than $100 billion in additional economic value, stimulate investment, create jobs, and accelerate its ambition of building a $1 trillion economy.
In this provocative op-ed, Advocatus Africa data and annotation “unpacks why Nigeria’s relatively cheap fuel no longer signals economic advantage, and what the data reveals about the real drivers of prosperity across the region.”
Nigeria’s economic recovery narrative is facing renewed scrutiny after the World Bank revealed that poverty levels continued rising sharply despite a significant decline in inflation.
A US-based digital creator and diasporic journalist has criticised the World Bank for recommending that Nigeria should depend on foreign imports despite having the new Dangote refinery.
In this brilliant piece, Advocatus Africa’s in-house data and annotation analyst, Dr. Ijuptil K. Joseph, argues that “Despite advances in financial technology and digital payments, the remittance market in many African corridors remains highly concentrated and insufficiently competitive.”
