Africa’s booming population is creating vast opportunities, including significant demand for robust infrastructure. Consequent to this development, governments of many African countries have become more intentional about investing in improving and diversifying transport infrastructure. One of the most conspicuous areas is the railway sector, which has attracted many global players who seek to benefit from the emerging opportunities.
As experts on Africa business development, africon was consulted by a notable global leader in rail components manufacturing to explicate the existing rail system operations and current or future business opportunities in Nigeria. To get the best insights and evaluate the progress so far, we visited numerous railway sites with operating lines and ongoing construction projects across Nigeria. We also conducted targeted interviews with relevant stakeholders in the railway system.
As a result, africon was able to create a clear picture of the Nigerian railway system for our client. Our data included a view of the country’s historical railway development, key influencers in the sector, mapping of existing and planned rail lines across the country (drawn from the railway master plan), analysis of budgets, financing and expenditure trends, analysis of rolling stock fleet in detail, equipment, components demand as well as long-term demand projections. In addition, we looked closer into the system’s challenges and potential gaps that foreign players could potentially fill. Most importantly, africon charted the most effective route-to-market strategy for our client to be very competitive and well established in the market. We also identified reliable local partners for them to work with to achieve this even faster.
Overall, the railway system in Nigeria is gaining traction with a lot more attention and investments from the government. There are many ongoing and upcoming rail lines in the country. Though the Chinese firm’s interests are well represented, the Nigerian Railway Corporation and Federal Ministry of Transportation state that they are open and welcoming to more foreign suppliers and investors interested in the country’s railway business.
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