Nigeria
eBizguides Nigeria
Big Country, great opportunities
Le guiaré a lugares increíbles
The concept of eBizguides
eBizguides aims to provide on-the-ground information about the country economic performance, the main investment opportunities and acute business intelligence research about who are the leaders and influencers of the country and which are the top 100 companies. All you need to know about doing business in a country and in a unique publication that also includes a small tourism guide. eBizguides are the world's leading business intelligence guidebooks. Click to read more.
Abundant oil reserves
.Traditionally, Nigeria has been an agricultural country, providing for the majority of its own food needs and exporting a variety of agricultural goods, notably palm oil, cocoa beans, and rubber. However, greater economic
opportunities caused a migration to urban areas thereby reducing activity in the country’s agricultural sector. In addition, abundant oil reserves offered economic opportunity as oil prices rose in the early 1970s. By the early 1990s oil created as much as 98% of export earnings and was responsible for about four-fifths of government revenues.
opportunities caused a migration to urban areas thereby reducing activity in the country’s agricultural sector. In addition, abundant oil reserves offered economic opportunity as oil prices rose in the early 1970s. By the early 1990s oil created as much as 98% of export earnings and was responsible for about four-fifths of government revenues.
Agriculture
Agriculture remains the largest contributor to the Nigerian economy, accounting for 40% (11) of GDP and providing about 70% of employment, both formal and informal, for a large majority of the population. The climate favours year-round crop production, and about three-quarters of the country is suitable for agriculture. There are four vegetation belts: the coastal mangrove swamps, the rain forest, the woodland savannah and the northern savannahs
t
t
INVESTMENT
Embracing of democracy in 1999, Nigeria entered into a new beginning and remarkable era; Africa’s second largest economy and the most populous black nation has since then been the haven for investors and the abode for business buoyancy for many reasons such as these below:
- Nigeria has the largest market in Africa in terms of population and potentials.
- It has been quite stable politically and economically since the embrace of democracy in 1999.
- Apart from its vast supply of resources in oil, gas, and solid minerals, there are still a lot of resources to be tapped and explored.
- The country boasts of a stable business climate with a strong presence of multinational corporations and local companies.
- The current privatisation of major government establishments and corporations, with a view to attracting bothforeign and local investors and stakeholders.
- An ongoing divestiture program that demonstrates Nigeria’s commitment to private sector development.- The introduction of the National Economic Empowerment and Development Strategy (NEEDS) to reform and strengthen the various sectors of the economy such as agriculture, manufacturing, finance, trade, tourism, etc as well as encourage small and medium enterprises (SMEs).
Partner Companies
Nigeria
Nigeria, the West African giant, is a widely unknown country, in part due to its image abroad, but after the introduction of a democratic process in 1999, Nigeria is ready for a new renaissance. The country, rich in mineral resources and with the largest population in Africa is prepared to take on its role as the most influential country on the African continent. No dream can be accomplished without hard work and indeed Nigeria needs a lot of effort to obtain the status it deserves not only in Africa, but also in the rest of the world. The image of an unstable country, where military rulers command, is being washed away by two consecutive democratic elections and a third due in 2007. Its role within Africa can be felt not only by its dominant presence in the formation of ECOWAS (Economic Community of West African States) but also by intervening in African conflicts such as those in Liberia, Rwanda and Sudan.
