Nigeria: A Preferred Destination for Foreign Direct Investment in Sub-Saharan Africa
Nigeria: A Preferred Destination for Foreign Direct Investment in Sub-Saharan Africa Nigeria, proclaimed as Africa’s largest economy in 2014 after recalculating its Gross Domestic Product (GDP), is an attractive destination for investors. This recalculation included previously undervalued sectors such as its flourishing entertainment industry (Nollywood and Nigerian music) and Information and Communications Technology (ICT). With a GDP exceeding $510 billion and an annual growth rate surpassing 6%, Nigeria offers vast investment opportunities. Nigeria’s appeal to investors goes beyond its diverse natural resources. The country boasts a vast pool of human capital, with highly trained professionals available at competitive costs. Investors can take advantage of numerous incentives across various sectors, making Nigeria a high-return investment market. Additionally, Nigeria’s investment environment is supported by robust financial institutions and government agencies, ensuring a conduciv...