Nigeria is an African powerhouse – the country boasts the continent’s largest economy, and, with a population of 186 million, the country is the continent’s most populous. Nigeria is a dynamic, English-speaking nation with much to tempt investors.
Situated in West Africa, Nigeria shares borders with Niger, Chad, Cameroon and Benin. The country’s largest city is Lagos, with a population of 2.7 million. The city has the largest GDP of any city in Africa. Abuja, the country’s capital, is a planned city, constructed in the 1980s.
Nigeria became a member of OPEC in the 1970s, at the height of the global oil boom. Little of the money Nigeria made in oil passed to the general population, however – Nigeria’s past development was stymied by corruption. Things have changed now, and Nigeria’s GDP is booming – according to one report, Nigeria will experience the highest GDP growth rates in the world between 2010 and 2050.
Agriculture remains Nigeria’s largest source of employment, producing around 26% of GDP and employing 60% of the workforce. Agriculture is practiced mostly at the subsistence level, though the country does export yams, rice and maize.
Oil remains Nigeria’s most important industry, responsible for around 77% of total exports. The country’s service sector is growing rapidly – principally the telecommunications and retail industries.
HLB Nigeria aims to help domestic and forgeign clients reach their organisational goals through a full range of professionals services across all main sectors in the country.