What We Do
The Telecommunications, Media and Technology (TMT) Industry in Nigeria has had tremendous growth over the past 10 years and currently contributes about 8% to the GDP of the Country with internet penetration at about 25% of the population and mobile penetration at over 60%. The Government's broadband vision for Nigeria is "one of a society of connected communities with high speed internet and broadband access that facilitates faster socioeconomic advancement of the nation and its people."
The economic growth of the Country is highly dependent on the ability of government and the private sector to deliver data connectivity, mobile coverage and broadband access to businesses and the general population. To achieve this there is a significant demand for in-country cloud services and data hosting for the ICT industry and major enterprises. The reliance on international data centres and cloud services to host private and public sector information is a constraint to achieving the nation's targets. The need for mega data centres operating as standalone, core businesses has become essential for Nigeria to progress in its drive for sustained ICT services.
Nigeria is a very attractive real estate market with a population of over 170 million people that are increasingly moving into the cities and an emerging middle-class keen to live in modern buildings, work with large companies and shop in modern retail stores. Major cities like Lagos and Abuja are mainly built up with low rise buildings and have a shortage of developed space. Opportunities for developers and investors remain significant and will continue for years to come.
The Fast-Moving Consumer Goods (FMCG) sector in Nigeria is the largest in the West Africa region and is also one of the fastest growing on the continent. The consumers in this sector have become more demanding of high-quality products and are also very price conscious. Regardless of what products are available, the consumer remains loyal to key brands that have proven their quality over time and are reliably available at convenient market outlets.
The main regulatory agencies including the National Agency for Food and Drug Administration (NAFDAC), the Manufacturers' Association of Nigeria (MAN) and Standards Organization of Nigeria (SON) have enforced strict control on all products manufactured or imported into the country. They have continuously increased their monitoring on the areas of quality, health & safety, tariff rates and have had a concentrated effort to rid fake products from the market. This has given great confidence both to the consumers as well as the manufacturers.