Contact Imara in Nigeria
Imara Nigeria Fund Manager | Imara Asset Management Limited
Tel +263 4 790 090
Tel +27 11 550 6100
Tel +27 11 550 6000
Nigeria, known as "the Giant of Africa", is on track towards achieving its full economic potential thanks to the restoration of democracy and subsequent economic reforms. It is now the second largest economy in Africa (following South Africa), and the largest economy in the West Africa Region. Nigeria is classified as a mixed economy emerging market, and has already reached middle income status according to the World Bank.
Nigeria boasts an abundance of natural resources, one of which is petroleum which accounts for 40% of their GDP and 80% of Government earnings. Nigeria is the 12th largest producer of petroleum in the world and the 8th largest exporter, and has the 10th largest proven reserves.
Not only does Nigeria have one of the fastest growing telecommunications markets in the world with major emerging market operators (like MTN, Etisalat, Zain and Globacom) basing their largest and most profitable centres in the country, it also has thriving agricultural and manufacturing sectors and a highly developed financial services sector, with a mix of local and international banks, asset management companies, brokerage houses, insurance companies and brokers, private equity funds and investment banks.
Nigeria’s abundant supply of natural resources, well-developed financial, legal, communications, transport sectors and stock exchange (the Nigerian Stock Exchange – which is the second largest in Africa), make Nigeria a solid investment destination and according to Citigroup, Nigeria will boast the highest average GDP growth in the world between 2010–2050.
Total area: 923,768 sq km
Population: 170,123,740 (2012 estimate)
Currency: Naira (NGN)