The services and supply sectors are dominated by the private sector, however there are a number of parastatals operating in these sectors as well, such as Nigerian National Petroleum Corporation, Bank of Industry (Nigeria’s largest development finance institution), Central Bank of Nigeria, Federal Inland Revenue Service, Nigerian Maritime Administration and Safety Agency amongst many others.
Transport, information and communication, energy and construction sectors are expanding to meet an increasing demand.
Transport infrastructure is historically underdeveloped and has restricted growth, and affects supply chains outside major urban areas and the hinterland. In recent years redevelopment of port facilities has led to improved reliability and growth in export and import markets, however there are still significant bottlenecks, as a result of traffic congestion, at the Lagos ports.
Manufacturing and production sector development is hindered by an inconsistent electricity supply that results in increased costs and other production issues.