Investing In Nigeria.
Whether you are considering business expansion or new emerging market investment opportunities, Nigeria should be top of mind as your investment destination of choice.
With a population of 155 million people, Nigeria is the most populous country in Africa, with a GDP second only to South Africa’s. Nigeria is the United States' largest trading partner in sub-Saharan Africa, largely due to the high level of petroleum imports from Nigeria, which supply 8% of U.S. oil imports--nearly half of Nigeria's daily oil production. Nigeria is the fourth-largest exporter of oil to the United States.
The United States is the largest foreign investor in Nigeria. The stock of U.S. foreign direct investment (FDI) in Nigeria in 2009 was $5.4 billion, up from $3.4 billion in 2008. U.S. FDI in Nigeria is concentrated largely in the petroleum/mining and wholesale trade sectors. Exxon-Mobil and Chevron are the two largest U.S. corporate players in offshore oil and gas production.
Nigeria possesses many positive attributes for carefully targeted investment and will expand as both a regional and international market player. Profitable niche markets outside the energy sector, such as specialized telecommunication providers, have developed under the government's reform program. There is a growing Nigerian consensus that foreign investment is essential to realizing Nigeria's vast potential. Companies interested in long-term investment and joint ventures, especially those that use locally available raw materials, will find opportunities in the large national market.
However, to improve prospects for success, we guide potential investors by partnering and educating extensively on local conditions and business practices, we offer our establish local presence, and make the transitions seamless...