Investing in Nigeria: Looking beyond Oil and Gas
When most investors think about Nigeria, they think first about the Country’s economy predominantly driven by the Oil and Gas Sector. Crude oil and petroleum products accounts for most Nigeria’s foreign exchange earnings, however Crude Oil sector contributes a small fraction of Nigeria’s GDP.
In Q2 of 2018, for instance, the Oil and Gas sector contributed only 8.55% to total real GDP, down from 9.61% in the preceding quarter of Q1, 2018. In Q2 of 2018, the non oil sectors contributed 91.45% to the nation’s GDP, a 0.06% from the previous quarter which was 90.39%. The Services sector played a major role in driving the performance of the “Non-Oil Sector” for Q2, 2018.
The Nigerian economy is largely diversified, with well developed across various sectors, offering strong potential for foreign investors. Across Power Sector, Agribusiness, FMCG, Manufacturing and Processing, Real Estate, Hospitality and Construction, Digital and technology, Education and Human Capital, Banking and Finance, opportunities exist for Foreign investors.
Investing in an economy as a foreign investor comes with complementary risks, one that can only be mitigated via a purposeful understanding of the local environment, and having the right strategies to maximize opportunities.
Making the most of foreign Investment opportunities therefore requires that investors ask the right questions, in order to approach the market with the right investment strategies. This session seeks to enlighten investors about the opportunities in Nigeria’s economy, which remains the largest economy in Africa.
Moderator: Nick Norbrook, Managing Editor, The Africa Report
Panelists / Speakers
The Panelists to speak during this session are:
- Etienne Giros, French Council of Investors in Africa
- Dr. Anino Emuwa, Founder and CEO , Avandis Consulting
- Betsy Obaseki, Managing Director, Bank of Industry (BOI) Trade and Investment Company
- Olivier Noel, General Manager, FBN Bank UK, (Paris Office)