ABOUT NIGERIA

The Nigerian economy is to enjoy more foreign investments with the arrival of 14 European companies in the second quarter of the year. The companies, drawn from across Western Europe, have concluded plans to invest in real estate, construction, refinery projects, mining, agriculture among others and seek local partners in Africa.

Country Profile:
With a population of about 173 million people, Nigeria is the largest country in Africa and accounts for 47% of West Africa’s population
It is the biggest oil exporter in Africa, with the largest natural gas reserves in the continent. Given these large reserves of human and natural resources, the country has significant potential to build a prosperous economy characterized by rapid economic growth.
The economy has enjoyed sustained economic growth for a decade, with annual real GDP increasing by around 7%; it was 6.3% in 2014. The non-oil sector has been the main driver of growth, with services contributing about 57%, while manufacturing and agriculture, respectively contributed about 9% and 21%.