With the National Bureau of Statistics(NBS) recording a real GDP growth rate, on an aggregatebasis, of 7.13% in the first quarter of 2011, and a slightly lower 6.17% for the same quarter in 2012, Nigeria boasts the continent’s second-largest economy after South Africa. Africa’s largest oil producer, Nigeria is the third-largest recipient of foreign direct investment in the continent after Angola and Egypt, according to the US Diplomatic Mission.
The country has shown resilient growth and improved stability over the past decade, due in part to relative political stability, considering its politically tumultuous post-colonial past, and largely consistent economic policies. The government seeks to further enhance growth through its Vision 20:2020 strategy to become one of the top 20 economies by 2020. It aims to diversify the economy away from its dependence on hydrocarbons through industrialization to improve socio-economic indicators and ensure a thriving and competitive business environment to attract the private sector.
Ovie Ukiri, Managing Partner, Ajumogobia & Okeke, on the mining industry
Diezani Alison Madueke, Minister of Petroleum, on the challenges of maximising production
Diezani Alison Madueke, Minister of Petroleum, on the challenges of maximising production
Elizabeth Littlefield, President and CEO, Overseas Private Investment Corporation (OPIC), on investing in West Africa
Ambassador Ron Kirk, US Trade Representative, on supporting development via trade
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