INCREDIBLE AND EXCITING OPPORTUNITIES

Nigeria: a strong investment case over the last seven years and remained Africa’s largest economy.

The country provides an attractive investment destination, backed by strong economic fundamentals that allow businesses to thrive.

- Geographical land mass bigger than France and the UK combined. also blessed with diverse natural resources.

- The current monthly minimum wage is $83 compared to $233 in South Africa or $124 in Egypt. considered one of the ten most improved economies in the World Bank Doing Business Report 2020.

- Largest market across Africa with a projected population of 402 million and the world’s 3rd largest population by 2050.

- A per capita income of $2028.2 is 84% higher than Africa’s average of $1,720.

- Home to many international brands that have recorded success operating in Nigeria, such as PZ, GSK, Unilever, Diageo, and MTN.

The financial market is one of the largest in Africa, with a capital market capitalization rate of over US $40 billion.

- Witnessed 20 years of uninterrupted democracy, with the peaceful handover of five elected presidents. The federal government has provided numerous initiatives and policies to encourage investment across various sectors. projected to grow at a CAGR of 2.5% over the next five years.

Nigeria has a very young, energetic, tech-savvy, and entrepreneurial population, with over 50% of the total population below the age of 25.

Source: Nigeria Investment Guide, January 2020; UK Department for International Development; UK Aid; and Nigeria Investment Promotion Commission (NIPC).

Key facts

Geography

Location:- Sub-Saharan Africa

Size:- 923,768 km2

Land:- 910,768 km2

Water:- 13,000km2

Financial

Official currency:- Naira

Exchange rate (official):- 421/US$1

GDP:- $469.3billion

Per Capital:- $2,396.3

Growth:- 1.9%

POPULATION (Age mix)

0-14years – 43%

15-24years – 20%

25-54years – 30%

55- 64years – 4% 65years and above – 3%