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尼日利亚投资环境介绍

发布时间:2022-06-22 11:25:42 文章来源:Africa Investments(业务四部转载)


Country overview: Nigeria is located in West Africa bordering the Atlantic Ocean. It shares borders with Benin to the west, Cameroon to the east, Niger to the north and Chad to the northeast. It gained independence from the United Kingdom on 1 October 1960. Its capital is Abuja with 36 Administrative States. It is a Federal Presidential Republic with the President sitting as Head of State and Head of Government. It runs a bicameral national assembly consisting of Senate and House of Representatives. Official language is English. Christianity and Islam are the predominant religions. The legal system is modelled after English Common law, Islamic law mostly in the northern states, and some traditional law. It has an area size of 0.924 million sq km. Nigeria is the biggest economy on the continent in GDP terms.
Demographic Information: Nigeria is Africa’s most populous country with an estimated population of 214.03 million comprising mostly of younger population (less than 25 years) which makes up about 62% of the population, those in the age bracket of 25-64 years makes up about 34.7% of the population and above 65 years age group makes up about 3.3% of the population. Average population density is estimated at 215.07 inhabitants/km2. In terms of human development indicators, it has a life expectancy of 62.3 years (Women) and 58.6 years (Men). It achieved universal primary education with a 84.73% Primary enrolment rate in 2016 and overall literacy level of 62.0% as at 2018.
Broad Economic Overview: Nigeria economy is heavily reliant on oil and gas. It is the 12th largest producer of petroleum in the world and the 8th largest exporter and has the 10th largest proven reserves. Oil and Gas is about 14% of GDP and 90% of export revenues.  Nigeria is one of the world leading exporters of liquefied natural gas (LNG), which accounts for about 15.5% of export. Aside oil and gas, Nigeria is also rich in a wide array of underexploited mineral resources such as natural gas, coal, bauxite, tantalite, gold, tin, iron ore, limestone, niobium, lead and zinc. Agriculture makes up almost 25% of the country’s GDP and 40% of labour force. Nigeria’s agriculture is predominantly practiced on a subsistence scale. Service sector is about 52% of the GDP and employs 52% of the population. Nigeria has a dynamic financial, telecommunications and retail sectors. The country’s growth has been resilient to terrorist attack risk, risk of low crude oil export prices, pervasive corruption, risk of disruptions to crude oil production in the Niger Delta region and lack of infrastructure. Nigeria’s economy slipped into recession in 2016 due to a crash in global crude oil price and has not been able to rebound to high 6.3% GDP growth level recorded in 2014. In 2019, real GDP growth was 2.2% and it only managed to achieve a 2.0% compound annual GDP growth in the past 5 years. Its currency is Nigerian Naira.  Main exports include crude oil, natural gas cocoa, rubber etc. Major imports include petroleum product, foodstuffs, vehicle, chemicals, transport equipment, manufactured goods, and machinery.
Investment Opportunities: Nigeria has made progress in the implementation of its ambitious Economic Recovery and Growth Plan (2017–20), aimed at achieving economic growth and diversification, improving competitiveness, fostering social inclusion, and governance and security. High dependence on oil and gas sectors makes Nigeria’s economy vulnerable to fluctuations in crude oil prices and production. Nigeria has many opportunities to transform its economy thereby providing investment opportunities. Nigerian government has marked out 13 national strategic export products and services to replace oil. These products include palm oil, cocoa, cashew, sugar, rice, livestock cultivation, Exploitation of timber and wood processing activities among others. Also, numerous incentive schemes have been deployed by the Government to make the agricultural sector attractive for investment. Other sectors offering investment opportunities are manufacturing, mining, ICT, financial and insurance, telecommunications, wholesale & retail services sector etc. Security remains a challenge despite gains made in the conflict with Boko Haram in the north east and the intensification of dialogue with militants in the Niger Delta. Poorly developed transport and energy infrastructure (lack of electricity) could result in high operating costs.

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