In 2012 Nigeria had about 17.6m micro, small and medium-sized enterprises (MSMEs) employing about 32.4 m people and contributing 46.54% of nominal GDP. A recent survey by the International Financial Corporation and McKinsey suggests that 80% of these MSMEs are excluded from financial markets. Suffice it to say that between 2003 and 2012...
As the single most populous nation in Africa, Nigeria recently overtook South Africa as the largest economy on the continent. Natural resources, oil and gas in particular, comprise the country’s single largest revenue-earner but the 170m person economy also has seen significant activity in recent years into the industrial, financial, telecoms and – as of 2013 – power sectors.
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