[Nigeria Business Week] Andrea Ayemoba: A 5G promise looms, global trade predictions show winning numbers

Predictions being made at the moment place Nigeria in a position of importance as far as global trade is concerned. As it stands, Nigeria, among others, is expected to have the capacity to drive global trade to the tune of $30tn dollars by the year 2030. For the moment, our country has taken an important step forward, partnering with Senegal and Pakistan on pharmaceutical trade agreements, while considering a gas development collaboration with the Middle East. On the indigenous front however, Oil and Gas has suffered a loss worth billions in the past several months, according to the Nigeria National Petroleum Corporation. 

Another promising partnerships forged this week was that between Bolt and Max designed to further vehicle ownership among drivers through favorable financing conditions. Further to the population’s advantage is the Central Bank’s recently launched scheme to award loans worth millions of naira to graduates, in its attempt to fight unemployment. 

Nigeria’s tactic is one of sharpening the sectors that have shown promise (such as technology, agriculture and banking) while throwing resources at those that have been in a work-in-progress mode for years. Aviation for example. Last week we highlighted that the cost of running airlines and maintaining airports in Nigeria is one of the highest in the entire world. This week we can say on a more positive note that Nigeria will have its National Airliner commence operations in a few short months. 

On the Tech front, Telecom giant, MTN, has secured necessary approvals to launch a sale of shares to the public, a transaction that transpired over the course of the week.

The Nigeria Communications Commission has expressed confidence in possibility of smart cities and self-driving car facilities making their debut in Nigeria soon. 

Interesting to the Tourism sector is the travel market set to commence soon in several cities of Nigeria, showcasing national tourist attractions and unveiling a 32-day Christmas festival carnival. 

Sustainable energy remains a priority and firms this week came together to launch a solar financing facility, with the obvious aim of growing the renewable energy sector.

Andrea Ayemoba is a Senior Editor at Africa Business Communities.