The economy in Nigeria is a middle income because of its mixed economy and emerging market, with expanding manufacturing, financial, service, communications, technology and entertainment sectors. It is ranked as the 27th-largest economy in the world in terms of nominal GDP and 24 largest in terms of purchasing power parity.
Nigeria has the largest economy in Africa , as its re-emergent manufacturing sector became the largest on the continent in 2013, and it produces a large proportion of goods and services for the West African subcontinent.
The state of the economy will give us a clue if Investment in Nigeria is safe or not. This article states out certain facts about the investment state of Nigeria
One major and interesting facts is that Nigerians are entrepreneurial and as well very hard-working.
Because of this fact, Nigerian consumers in the retail, entertainment and service sectors are then served by innovative and ambitious small and medium companies, by both large local and global brands.
There are lots of talented and can-do citizens in the country, this thereby brings about lots of new, brilliant and intelligent ideas from the citizens as its leads to creating of small, large and medium business scales in the country.
Another fact is the scale and demographic structure of its 196 million population, which is estimated to become the world’s third largest by 2050.
Nigeria has a large population of hard-working, optimistic and mobile youth. as about 90% of the population is under 50, providing the assurance of a large, English-speaking and talented citizens for many years into the future.
Nigeria also has abundant natural resources as the country is ranked as one of the world’s top 10 for proven oil and gas reserves. Its wealthy in minerals such as tin and iron ore.
Nigeria is also a home for Africa’s most productive agricultural land as its agricultural zones stretch from the tropical savanna in the north to the rainforest in the south.
Niger Delta complemented by tropical and semi-temperate weather prevalent across the country, makes its possible and easy cultivation of a wide variety of agricultural produce from exotic fruits, vegetables and tree crops to root crops.
Many of its current economic growth drivers are from the 21st Century, including telecoms and financial services, media and manufacturing.
There are 4 major lucrative sectors that are very perfect for investments. Agriculture, Manufacturing, Information and communication technilogy (ICT), and lastly Private education.