The market

Nigeria is Africa’s largest economy

  • The most populous country in Africa and the 7th most populous country in the world
  • The largest economy in Africa
  • 5th largest oil exporting and 11th largest gas exporting country
  • A regional power with major influence in the region
  • Listed among the „Next Eleven“ economies
  • Expected to become one of the world‘s Top 20 economies by 2050

Exhibitors profit from massive investments into the consumer industry, the construction of shopping centers and an increasing demand for machinery and equipment.

Economic data Nigeria

Inhabitants:

  • 189 million (2017)

Strenghts:

  • Huge oil and gas reserves
  • Abundance of natural resources (oil, gas, agricultural land)
  • Attractive consumer market due to high population (189 million)
  • Revival of agriculture

Opportunities:

  • Construction of shopping centers creates new opportunities in the consumer goods sector
  • Fast growing market for consumer and investment goods
  • Consumption boom provides for investments in the retail, consumer goods industry and agriculture
  • Engineering: an increasing demand by growing consumer market
  • Chemistry: Diverse customer industries (construction, agriculture) with good economy
  • Offering chances for cooperation with foreign enterprises

Commodities:

  • agrarian: Cocoa, peanuts, cotton, palm oil, maize, rice, sorghum, millet, cassava (tapioca), yams, rubber, cattle, sheep, goats, pigs, timber, fish
  • mineral:  Natural gas, petroleum, tin, iron ore, coal, limestone, niobium, lead, zinc

Currency reserves without gold (in billion US $):

  • 2016: 25,8
  • 2017: 28,2 prognosis
  • 2018: 30,3 prognosis

Foreign trade (in billion US $):

GDP growth (in billion US $):

Source: gtai Germany Trade & Invest