Nigeria

Rapid population growth, steadily increasing urbanisation and rising incomes – particularly among the middle class – have fuelled expansion in Nigeria’s real estate sector over the past decade, and are expected to continue to drive growth in the industry. While most segments have seen increased investment in recent years, the country remains undersupplied in virtually every area, particularly...

Underinvestment has led to a shortage of capacity for a country of nearly 170m people, and as GDP growth continues to surpass 7%, the resulting increase in both consumption and production means there is sizeable scope for investment in roads, ports, bridges, airports and other facilities. The government has thus embarked on the process of eliminating institutional obstacles and incentivising...

Over the past decade Nigeria’s ICT industry has grown to become one of the largest and most dynamic in Africa, with total mobile internet subscribers topping 30.9m at the end of the second quarter of 2012, accounting for the majority of the country’s 48.4m internet users. While the government has taken a prominent position on driving basic penetration, private operators have been influential in...

With the largest population in Africa and one of the continent’s fastest-growing economies, Nigeria has emerged as a prime market. According to the Central Bank of Nigeria, retail and wholesale trade totalled $45.55bn in 2012, or 17% of GDP. Retailers have found it expensive to operate locally given the need to generate power independently, which necessitates the purchase of both generators and...

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. The total value of Nigeria’s manufacturing sector increased 7.55% in 2012, reaching N761bn ($4.8bn) at current base prices, up from N634bn ($3.9bn) in 2011. A globally...

The largest contributor to Nigeria’s GDP, the agriculture sector accounted for a 40.1% share as of mid-2013, according to the National Bureau of Statistics. It is also the main source of employment in the country, responsible for more than 60% of jobs, as per figures from the International Fund for Agricultural Development. Increases in the amount of cultivated land have led to a rise in...