Nigeria

Nigeria Country Information

Nigeria has surpassed South Africa as the largest economy on the African continent. The African country is even making a name for itself on the world stage. It is not merely Africa's strongest economy; since 2000 it has been on its way to becoming one of the 20 largest global economies.

Oil tanker off the coast of Lagos
Oil tanker off the coast of Lagos

Its population of around 174 million people (400 million by 2030, making it the third most populous country after India and China) offers enormous potential for Swiss companies. There is, however, one important factor to remember. The country's primary export product is oil (70% of its total exports), meaning that any drop in the price of raw materials has a direct effect on the Nigerian economy. This is the case with the current low prices for raw materials. The Nigerian economy has been deep in crisis for the past two years or so, and projections do not seem to indicate any rapid recovery.  Those who succeed in positioning themselves correctly in Nigeria, however, will enjoy an enormous lead in gaining access to further African markets.

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