The Road to the SDGs

PURPOSE X IsDB conducts GVC-based analysis of the economic conditions in selected MCs to determine their competitiveness in their major industries. X IsDB’s analysis, in coordination with the Government of Nigeria, revealed five key champion industries: – Food and agribusiness – Apparel – Petroleum – Automotive – Transport equipment. X Of these, three industries were determined to have a high natural potential: – The petroleum industry (manufacture of petroleum products) – The rubber industry (manufacture of rubber products) – The apparel industry (manufacture of footwear, leather and related products). METHOD X IsDB’s GVC analysis methodology (see page 170) was used to identify the key action points for Nigeria. X Further examination of the data gathered during the GVC-based analysis identified the following trends for the selected industries in Nigeria: – The food and agribusiness industry is performing poorly in a sector that is growing worldwide, which suggests that it is an industry with great potential and untapped opportunities – The apparel industry is doing comparatively well in a declining sector – Petroleum products do not have much dynamic potential and are situated in declining sectors – Although the rubber industry overall does not show dynamic potential, a specific rubber product which makes many automotive components has dynamic potential to improve its performance in growing industries. X The rise in the application of rubber products in various end markets has triggered growth for the industrial rubber products market. The rubber moulded component industry is expected to grow by 6.38% CAGR due to demand for fuel-efficient vehicles. Therefore, the potential in rubber products gives a great competitive edge for the development of the automotive industry. X There has been a decline in gross exports in the agriculture, food and beverage industry. However, key trends in exports and value-add composition reveal opportunities in both local and international markets. X The apparel industry’s share of exports is decreasing, which signals potential loss of competitiveness. However, the gross Nigeria — A post-COVID-19 restart strategy I sDB’s global value chain-based analysis for Nigeria has identified significant opportunities in five different industries The preliminary value chain analysis revealed that promoting vertical integration and incentivising foreign processors will help address the weak linkage between producers and processors in Nigerian agriculture [ 244 ] SDGs