Nigeria

Buoyed by demographic and economic growth, Nigeria’s construction sector has the potential to become the largest and most competitive on the continent. Between 2006 and 2010 the industry expanded at a rate of 12.58%. This positive growth is expected to continue in the near future as the government rolls out a number of infrastructure projects. Overall strong economic growth in Nigeria has also...

While demographics alone should mean there is plenty of room for growth, the insurance sector’s recent performance has not been sufficient for it to reach the critical mass necessary to improve its image with clients and enhance its capacity to underwrite large risks. According to the Nigerian Insurance Association (NIA), insurance penetration reached 0.6% in 2011, far lower than other African...

As one of the fastest-growing economies in the world, according to the Federal Ministry of Finance (FMF), Nigeria is certainly appealing to foreign investors. Growth has averaged 6.7% since 2006 and has been relatively uninterrupted by the global financial crisis. An emerging middle class is beginning to fuel growth in domestic consumption. Income per capita has increased almost four-fold since...

Nigeria is the 14th-largest African country and possesses a rich and varied landscape, biodiversity and climate. While it is known for its oil and natural gas, Nigeria also has substantial reserves of coal, iron ore, zinc, tin, limestone, lead and niobium. The capital, Abuja, is located in the geographic centre and has a registered population of an estimated 1.6m. Nigeria has a varied assortment...

Nigeria had seven banks with total assets in excess of N1trn ($6.4bn) as of end-2011, with the top four accounting for 55.62% of the sector’s net profits. Yet although the continent’s most populous nation boasts some of its largest banks by assets, just 21% of Nigeria’s population of about 165m people is banked, according to a 2011 study by the Central Bank of Nigeria (CBN). Bank credit remains...

The stock market is the continent’s third largest by capitalisation after Johannesburg and Cairo. The Nigerian Stock Exchange (NSE) includes a main board with 186 equities, a board dedicated to SMEs with 12 listings, and a single exchange-traded fund. While investors welcomed what they saw in 2010 as a fleeting recovery in markets, 2011 was more challenging, as it came on the back of sustained...