Political events over the last few weeks have illustrated some of the significant challenges in investing in Nigeria. This is particularly true of the suspension of Central Bank Governor Sanusi Lamido Sanusi following the publication of a letter in which he alleged that the state oil and gas company could not account for some US$20 billion dollars. Sanusi’s suspension has compounded uncertainty already associated with political upheavals in an election year.
Although these factors will continue to act as a brake on the country achieving its economic potential, Deputy British High Commissioner to Nigeria Peter Carter stated that there is a growing awareness that Nigeria is worth a higher appetite for risk than in most other economies. Indeed, there are increasing numbers of overseas companies looking to invest in Nigeria, in spite of these difficulties, according to Carter.
Speaking to TEXEM, Carter noted that the business “opportunities are limitless” in Nigeria, including beyond the oil and gas sector. In fact, Carter claimed that this year the British High Commission has received more enquiries about investment in education than oil and gas.
Collaboration in the education sector takes many forms, from establishing links between British and Nigerian primary schools, selling exams and exam technology and vocational education. In particular, professional education is a huge area of expansion, according to Carter.
Carter claimed that the most pressing challenge facing the education sector in Nigeria is that educational and professional training institutions often lack capacity and sufficient numbers of trained staff. This heightens the importance of collaboration between British facilities and Nigeria companies.
In response to both the opportunities and challenges identified by Carter, TEXEM and the University of Oxford have joined to provide a bespoke executive development programme. The four day programme – “Governance, and Sustainability” – delivered senior public sector leaders with the core competencies necessary to capitalise on emerging trends.
The tailored executive education programme contained modules in strategic management, adaptive leadership, public sector innovation, principled negotiation, political innovation and sustainability. For instance, participants will learn how to create and apply “public value propositions” that command legitimacy from a variety of stakeholders.
Delivered by leading academics at the University of Oxford, the programme provided valuable insights into the social, political and environmental context in which organisations in Africa operates. Furthermore, participants benefited from gaining a fresh perspective on existing management models and learning from innovative practices utilised by leading organisations and practitioners. Critically, attendees also joined a valuable network with other managers from top organisations all over the world.
The course held between 14th and 17th April 2014 in Oxford.