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Nigeria Next Level NIGERIA NEXT LEVEL “Nigeria is so peculiar and dramatic. Even talking about the potentials before we talk about the negativities, Nigeria is a nation for perpetual study. I think in Nigeria, it is the potential which hits people and makes them believe in Nigeria.” Wole Soyinka, Playwright, Poet and Nobel Prize Laureate I came across this quote during my first months in Nigeria, back in 2009. I had grown up as a disciple of Winston Churchill, utilising his positive and inspirational words to drive me forward during every challenge that I faced. However, the words of Soyinka struck me deeply and I began to look at Nigeria in a whole new light. I began to immerse myself within the culture, cuisine and the spiritual side of the nation. With this, I saw the potential in myself and saw that Nigeria truly is a land of opportunities. During my time in Nigeria, I met my wife who gave birth to our first daughter here and we began our life together. I feel that I owe a great debt to the country. I may be Austro-Brazilian but I’ll always have Nigeria in my heart. This source book, and our documentary that was released in April 2019, are our small attempts to repay the country by showcasing to the world the potential of this beautiful land. I believe in Nigeria and like Wole Soyinka, see it as an evolving nation for perpetual study. I hope that Nigeria: Next Level provides you with a strong example of the country’s potential and makes you too, believe in Nigeria. Rudi Müller Our team Index Country Directors Supporting Quality Infrastructures Adrian Ferrandis Miguel To Boost Inclusive Growth 26 Aliaksandra Papchanka Reviving The Nation’s Country Coordinators Aviation Sector 28 Betty Buyu Ana Julia Pansani Taking Nigeria’s Aviation Darya Topildieva Sector To The Skies 30 Editor in Chief Introduction Working Towards The Creation Dante Di Iulio Taking Nigeria To The Next Level 4 Of A Sustainable Aviation Sector 31 Deputy Editor Nigeria at a Glance Flying Nigeria To The World 32 Flavia Baralle A Quick Look At The Land Of The Super Eagles 6 Seeking Creative Solutions Contributing Writers Within The Housing Market 34 Simone D’Anastasio From Obasanjo to Buhari Matthew Scott Rose Twenty Years Of Finding The Right Places Democratic Rule In Nigeria 8 For Nigeria’s New Investors 36 Art Director Carmelo Aunion Working To Improve Communities And Bridge Photographers The Housing Deficit Gap 38 Nath Igwe Javier Morgade Nigerian Cities A History Of Africa’s Big Apple 12 A Man With A Golden Vision 14 Gaming Sector Constructing Nigeria’s New Capital 16 The Ace Up Nigeria’s Sleeve 40 The Cradle Of The Pacesetter State 18 Hitting The Jackpot 41 A Flagship For Redefining The Regulations Nigerian Development 19 Of The Nigerian Gaming Industry 42 Nigeria’s First Capital 20 Finance Creating A Ripple Effect Infrastructure & Transport Into The Economy 44 A Restructured Transport Sector To Advance Connectivity The Secret To Sustainable And Economic Growth 22 Development 46 www.penresa.com [email protected] Major Infrastructural Developments Bringing Nigeria To Ensure Continued Prosperity 24 To The Next Level 50 Index Drastically Redefining Africa’s Oil And Gas Landscape 84 Expanding The African Oil And Gas Horizon 86 Amni Petroleum’s Secret To Success 88 Shaping The Oil And Gas Sector Anew Technology and Taxes Through Excellence And Innovation 90 Art An Impetus For Long-Term The International Route Socio-Economic Development 52 Changing The Status Quo Of Nigeria Art 110 Through Superior Innovation 91 Enforcing High Quality Standards For Nigeria’s Telecommunications 54 Impeccable QC Services For Music and Entertainment The Oil And Gas Industry 92 Nigerian Legacy To World Music 112 Reliable Network Coverage To Drive Innovation In Nigeria 56 Leading The Country Afro Jazz, Afrobeats To Energy Self-Sufficiency 94 And The Alté Movement 114 The African Telecom Pioneer That Adapts With Technology Capturing The Nigerian And The Customer’s Unique Needs 58 Identity In Moving Images 115 From Broadband Provider To Solution Provider 60 Providing The Platform For Growth 62 Saying Yes To Yabacon Valley 64 Taxes For A Better Nigeria 66 Agriculture and Industry Sowing The Seeds For Sustained Awakening The Sleeping Growth In The Agri Sector 98 Giant Of Nigeria 68 Fashion Investing Time And Energy In Nigeria’s Taking Over The World World-Class Quality Tax Advisory Agriculture Sector And Youth 100 One Thread At A Time 116 Services For Nigerian Companies 70 Setting The Example In The Story Of The Quest For Food Security 102 The Kano Dress Code 118 Oil and Gas Nigeria’s Powerhouse 72 Tribes and Culture Tourism The Most Important A Brief Look Into Nigeria’s Tribes 104 Ten Hidden Nigerian Gems Hydrocarbon Projects In Nigeria 74 No Visitor Should Miss 120 Woman Leadership The New Fuel Of Choice For Nigeria’s In Yoruba Culture 106 Looking Ahead Economic And Industrial Revolution 76 Unstoppable Agents Myth-busting Pidgin Languages 108 Of Progress And Change 122 Local Content Paves The Way 80 A New Awakening For Nigeria Through Sustainable Gas Investments 82 4 Taking Nigeria To The Next Level NEXT LEVEL Bold economic policies and a vigorous reform drive revive NIGERIA and revitalise Nigeria’s economic growth momentum and help transform its immense potential to wealth. As sub-Saharan Africa’ s largest economy and Africa’s economy started to respond, until it eventually came out biggest oil exporter with the largest gas reserves on the of recession.” By 2018, GDP growth had increased to 1.9% continent, it may come as a surprise to learn that Nigeria’s and was more inclusive; currently GDP has an estimated economic growth in recent years has also been driven by growth projection of 2.3% in 2019 and 2.6% in 2020. growth in agriculture, telecommunications and services. In 2017, under President Muhammadu Buhari adminis- Empowering Nigeria’s Economy tration and direction, the nation managed to emerge tri- In April 2017, Buhari launched the Economic Recovery umphantly from the recession brought on by the crash in and Growth Plan (ERGP) 2017-2020. Its primary objec- oil prices and production, but, as the National Bureau of tive was to restore growth and build a globally com- Statistics (NBS) has since pointed out, improved oil perfor- petitive economy through investment in infrastructure mance was by no means the sole cause for Nigeria’s eco- and the creation of an enabling business environment. nomic recovery. The optimisation and implementation of Under an umbrella framework, incorporating 60 nation- policies and reforms in agriculture, manufacturing and al development strategies, the ERGP focuses upon in- trade sectors has been key to securing the boost in the frastructure, industrial and power sector development nation’s economic growth. President Buhari explains: “We and is committed to the investment in human capital, rolled up our sleeves, and went to work. We invested mas- while moving the nation away from an import depend- sively in agriculture, focused on mining, and gave man- ent predicament. The plan also hinges upon the promo- ufacturing some incentives. We launched the Economic tion of Science, Technology and Innovation (STI) to push Recovery and Growth Plan (ERGP), kept our focus, hus- the nation towards a more knowledge-based economy. banded and utilised funds judiciously, and gradually, the Over the past few years, power, road and rail projects Introduction Reforms To Revive Growth “Improving the business environment is at the heart of the Buhari Administration’s reform agenda,” states Vice President Yemi Osinbajo. “Our focus remains firmly on ensuring that SMEs operating in Nigeria find it easier to do business.” In 2017, Nigeria moved up by an unprece- dented 24 places in the Ease of Doing Business rankings; working its way up towards its goal to become a top 100 ranked economy by 2020, and one of the top 70 doing business destinations by 2023. President Buhari’s deliber- ate appointment of a cabinet of economic (and techno- crat) ministers aims to ensure the promotion of transpar- ency while aligning itself with diversification strategies in fiscal management and in encouraging private sector “Nigeria was ranked among investment. In August 2015, President Buhari implement- ed a Treasury Single Account (TSA), consolidating 20,000 government bank accounts into a unified, transparent the top 100 countries system; the government has also carried out a number of institutional and governance reforms which have se- in business dynamism cured the implementation of the Integrated Financial Management and Information System and the Integrat- and as one of the most ed Payroll and Personnel Information System, while the ratification of the Secured Transactions in Movable Assets entrepreneurial countries Act 2017 has provided favourable circumstances for SME loans. The Federal Inland Revenue Service (FIRS), Execu- in the world.” tive Chairman, Babatunde Fowler drives diversification of the nation’s economy through the implementation of 5 initiatives which improve tax compliance and collection. PEBEC report on Ease of “The only way to improve the standard of living of the people is to continue to create an environment good for Doing Business Outlook 2019 business and good for living,” states Fowler. “Key to this is convenience and transparency.” Further reforms have been implemented by the Presidential Enabling Busi- ness Environment Council (PEBEC) for a new electronic NEXT LEVEL platform integrating tax authority and Corporate Affairs have been built, industries have decentralised the pow- Commission (CAC). According to the PEBEC report on er supply by leveraging off-grid solutions, including the Ease of Doing Business 2019 outlook, over the past climate friendly solar-based systems while expanding three years there have been over 140 reforms that aim to national accessibility to broadband.
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