Fresh from a rebasing exercise in April 2014 that boosted 2013 GDP by 89% to $509.97bn, Nigeria now ranks not only as Africa’s most populous country, but also as its largest economy. It has long played an outsized regional role, making up 76% of West Africa’s GDP and around 60% of its population.
As manufacturers scour the globe for new growth opportunities, few markets offer greater long-term potential than Nigeria, which boasts an enormous domestic population, plentiful feedstock and limited market penetration. Current business conditions, however, including sky-high operating costs and cheap unregulated imports, make it difficult for...
The government is leveraging packages of fiscal incentives and one of the world’s fastest-growing mobile phone markets, to entice international mobile phone producers to assemble products locally. As a result of these policies several handset firms, including Africa-focused Mi-Fone and China’s Tecno, have already announced intentions to set up local...
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