Country Profile

The most populous country in Africa with abundant natural resources, Nigeria is the continent’s largest economy by GDP. Combining oil and gas wealth with the entrepreneurial efforts of its predominantly young population, Nigeria has developed a business-friendly environment over two decades of civilian rule and in the nearly 60 years since independence. These achievements are all the more impressive given the stresses and strains imposed on this vast country by regional, religious and political tensions. Yet the challenges of economic inclusivity and ensuring wider equality remain, as around half of Nigerians continue to live below the income poverty line. The incoming administration will face some major security and corruption challenges for a republic that is multi-faceted and complex, but also multi-ethnic, multi-religious and multicultural. This chapter contains a viewpoint with President Muhammadu Buhari; and interviews with Patricia Scotland, Secretary-General, Commonwealth; and Ray Washburne, President and CEO, Overseas Private Investment Corporation.