Nigeria is the largest economy in Africa and, according to Goldman Sachs, one the next 11 countries with a high potential of becoming among the world’s largest economies in the 21st century.
Nigeria is the most populous country in Africa with 188.5 million people estimated to be 480 million by 2050. It is a youthful population. Over 36% are between 15-35 years.
Nigeria is advantageously located in the Gulf of Guinea with direct freight access to North America, South America, Europe, and Asia. Nigeria can be the production hub to access the developed markets of North America and Europe, which have a combined GDP of over US$43 trillion.
Nigeria has over 17 years of unbroken democratic rule. In 2015, Nigeria recorded another first where political power seamlessly transitioned from an incumbent to an opposition party. There is an active engagement by the three arms of government, a free and robust press, and active civil society organisations.
Nigeria has a workforce of about 77 million people, accounting for about 42 percent of the total population. There is a rich pool of Nigerians with tertiary degrees with about 1.8 million graduates entering the labour market every year.
Nigeria is a top global producer of a number of natural resources: cassava, cocoa, tomatoes, etc. It is has over 84 million hectares of arable land, 230 billion cubic meters of water, abundant and reliable rainfall in over two thirds of its territory and has some of the richest natural resources for agricultural production in the world
Chairman and CEO, General Electric
“Nigeria has all the natural resources and pretty good entrepreneurial class. I want Nigeria … right here and right now. This is the time.”
Managing Director P&G Nigeria
“Innovation is one of P&G’s and by extension, Nigeria’s most vital methods for growth and development.”
President, Central, East and West Africa at The Coca-Cola Company
“We are extremely optimistic about Nigeria’s continued economic and social growth and recognize the importance of … broadening our portfolio and introducing new products.”
MD, Huawei West Africa
“Coming to Nigeria is our biggest move in West Africa.”
President, Yuemei Group
“We built the first Chinese textile industrial park in Nigeria to enable more Chinese textile enterprises make their way to doing business abroad. ”
Global CEO, Unilever
“We will continue to invest in Nigeria and our growth rate is accelerating. We also think that the enormous potentials in the country are being unlocked.”
Executive Vice President, Mondelez International (formerly known as Kraft Foods)
“This investment in Nigeria boosts our production capacity for Cadbury Bournvita by more than 30% … and complements our recent investments in Egypt and South Africa.”