focus africa
Focus : Africa
Helping Indian companies do business with Africa
INDIA
INDIA
Africa
AFRICA
INDIA : India’s Trade with the African Region notched US$ 38.96 Billion in the year 2009-10 (DGCI&S provisional figures) constituting 8.37% share in India’s total trade. Trade with the region has grown at a CAGR of 18.10% from US$ 4.48 Billion in 1996-97.
AFRICA : 54 Countries, 1 billion people, US$ 1.01 Billion of trade. Imports worth US$ 468 billion include Mineral Fuels, Oils, Machinery, Vehicles including Boats, Ships, Aircrafts, Electronics & Electricals, Iron & Steel & Articles thereof, Cereals, Plastics, Pharmaceuticals, etc.

Top 20 product groups imported by select African countries ............. [More].
Country at a Glance
Nigeria

Region
Western Africa

Country
Nigeria

Country Head
President UMARU MUSA

Capital
Abuja

Population
149,229,090(UN 2008)

GDP(PPP)
$340.2Bn (2008 est.)

GDP Per Capita
$2,300 (2008 CIA est.)

Main Language
English(official),Hausa, Fulani, Igbo

 

Nigeria

Nigeria is situated at the western part of Africa with a total area of 923,768 sq km. The Land Boundaries stretches to nearly 4,047 km and the costal line stretches to nearly 853 km. Nigeria is surrounded by Benin, Cameroon, Chad and Niger. The country is further divided into 11 provinces – Bauchi, Bida, Bornu, Kabba, Kontagora, Lower Benue, Illorin, Muri, Sokoto, Upper Bema and Zaria.

Nigeria is the largest oil producing country in Africa. Oil is a major feature in the Nigerian economy and has been since the oil boom in the 1970s. It provides 20% of GDP, 95% of foreign exchange earnings, and about 65% of budgetary revenues. The rise of the price of oil from 1999 to its peak price in July 2008 has seen growth in the Nigeria economy, making it one the fastest growing in the world with the International Monetary Fund projecting a growth of 9% in 2008 and 8.3% in 2009.

Largely, the subsistence agricultural sector has not kept up with rapid population growth, and Nigeria which at once was a large net exporter of food, now imports some of its food products. Agriculture has suffered years of mismanagement, inconsistent and poorly conceived government policies, and the lack of basic infrastructure. Still, the sector accounts for over 26.8% of GDP and two-thirds of employment.

Nigeria stands at the 44th rank worldwide and at the 3rd rank in Africa in the manufacturing output. In the service sector it ranks 63rd worldwide and 5th in Africa. Since undergoing severe distress in the mid-1990s, Nigeria's banking sector has witnessed significant growth over the last few years as new banks enter the financial market.

Nigeria possesses many positive attributes for carefully targeted investment and will expand as both a regional and international market player. There is a profitable niche market outside the energy sector, like specialized telecommunication providers have developed under the government's reform program. The companies which are interested in the long-term investment and joint ventures, especially those that use locally available raw materials, will find opportunities in the large national market.

Sector Profiles/Investment Opportunities Detail

SECTOR PROFILES

The Nigerian economy is largely a petroleum based economy. The country has now been long troubled by the political instability, corruption and poor macroeconomic management and is now undergoing a substantial economic reform under the new civilian administration

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INVESTMENT OPPORTUNITIES

Nigeria, as an emerging economy has achieved an average 6.1% GDP growth rate between 2007 and 2008. This is much higher than the average 5.5%.of the African continent. The expected GDP growth rate for 2009 is 8.1%, despite the ongoing financial crisis. ...........Read More

 

 

Apex Bodies

Benin Chamber of Commerce, Industry, Mines and Agriculture

Abuja Chamber of Commerce and Industry

Calabar Chamber of Commerce and Industry

Economic Community of West African States

 

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Trade Fairs

Nigeria Oil & Gas Exhibition

Water Africa

West African Building & Construction

Banking & Payment Technologies West Africa

W.Afri-Tel Expo

 

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Useful Information

Mauritius Times

Ile Mauricie

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