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.
Interviews & Viewpoints | OBG talks to Taleb Rifai, Secretary-General, World Tourism Organisation (UNWTO) from The Report: Nigeria 2012
Interviews & Viewpoints | Elizabeth Littlefield, President and CEO, Overseas Private Investment Corporation (OPIC), on investing in West Africa from The Report: Nigeria 2012
Shifting global economic trends and the increasing flow of information about emerging markets highlights what those with experience in the region have long known − West Africa is ripe for growth and rich with opportunities for private investors. In the past decade Africa has experienced a remarkable turnaround. In 2000 the cover of The...
Articles & Analysis | Redirecting trade: New partnerships offer much potential for growth from The Report: Nigeria 2012
Western investors have not been the only ones to notice Nigeria’s resilient growth. While global demand has gradually rebalanced towards large emerging economies such as the BRICS, Nigeria’s trade patterns are shifting. The displacement of the US by India as Nigeria’s largest trading partner in the first quarter of 2012 (for the first time since...
Articles & Analysis | Macro-level management: A sovereign wealth fund is in the process of being set up from The Report: Nigeria 2012
The country is set to join the ranks of the leading oil producers in establishing a sovereign wealth fund (SWF) to manage the excess proceeds of its production in times of high pricing. Yet despite legislative progress in 2011, the initiative has been met with political uncertainty – not concerning its objectives as such, but rather the funding...