curator
Administrator
NIGERIA has many of the ingredients for a boom time. Massive oil reserves, an economy growing at an enviable rate, a reform agenda and promise of extensive infrastructure investment, and an expanding middle class displaying an appetite for imported goods all suggest a dynamic and attractive business environment. But politics, corruption and security issues all mar the happy picture of a country going through a considerable upturn.
“You have to be very careful about saying it’s a place for great investment. It is a place with great opportunity and tremendous potential, but it’s also a place with specific and unusual challenges,” according to Walter White, head of emerging markets at law firm McGuireWoods.
We now know more about the Nigerian economy. And it’s impressive. A major project by the country’s National Bureau of Statistics to rebase the GDP calculations came to fruition in April, revealing the economy is the biggest in Africa at $509bn (£307bn) for 2013, 89% bigger than first thought. Some observers quickly pointed out that – considering its huge population – the country is under-performing but it nevertheless now outstrips the continent’s former top dog, South Africa.
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Source: FinanceDirector.com
“You have to be very careful about saying it’s a place for great investment. It is a place with great opportunity and tremendous potential, but it’s also a place with specific and unusual challenges,” according to Walter White, head of emerging markets at law firm McGuireWoods.
We now know more about the Nigerian economy. And it’s impressive. A major project by the country’s National Bureau of Statistics to rebase the GDP calculations came to fruition in April, revealing the economy is the biggest in Africa at $509bn (£307bn) for 2013, 89% bigger than first thought. Some observers quickly pointed out that – considering its huge population – the country is under-performing but it nevertheless now outstrips the continent’s former top dog, South Africa.
Click here to read more
Source: FinanceDirector.com