NIGERIA'S UNIQUE POTENTIAL

  • Nigeria’s size and population, exceeding 167m people, has created one of the most attractive markets in the Africa & Middle East region. Nigeria remains the largest mobile market in the region, with 92m subscriptions at year- end 2011.
  • Although the economy of Nigeria will continue to depend heavily on oil revenue coupled with the revenue generated from growing sectors such as telecommunications services and agriculture, its huge Diaspora, burgeoning middle-class and young median age (19.1 years) essentially present the rationale behind its inclusion on Goldman Sachs N-11 list.
  • Since liberalization of the market in 2003, the telecom industry has experienced high growth rates, fueled by new entrants and the launch of mobile value-added and broadband services. With its huge population and mobile penetration at just 55.8% by year-end 2010, the Nigerian telecom market is forecast to have exceptional continued growth.
  • A housing deficit of 17 million units, largely subsistence and small-holder based rain-fed agricultural sector and installed grid output of just under 6,000 MW represent problems to the skeptics (or downright indolent) but income opportunities to careful investors.
  • It sits on at least 6% and 8% of global crude and gas reserves respectively. With 70% arable  and naturally well irrigated land.
  • 780 nautical miles of aqua-culturally productive coast-line and a large rural sector, the population is nourished by the available rich produce much of which has export potential which remains largely untapped because less than a tenth of the agricultural sector is mechanized and only about 30% of arable land is cultivated.
  • The national economy is therefore quite resilient and dominated largely by trade agriculture, oil and gas.
  • The vast land mass creates opportunity for infrastructure, transportation, real estate, consumer and corporate finance and much more.
  • Untapped resources in various sectors i.e. agriculture, manufacturing and manufacturing to list a few.
  • Nigeria contributes 65% of West Africa’s GDP.
  • Over 50% of the population is under 18 which will enable market growth.
  • Nigeria’s growth rate is higher than OECD’s average; this will ensure productive investment and revenue enrichment against the backdrop of the gloomy global GDP figures and forecasts.
  • Nigeria is Africa’s secret numbers play due to the rate of population growth, so all global players should carve out a niche and invest while the market is still unsaturated.

 

 

 

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