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Introduction Falling oil and gas prices has led to calls for diversification
Notwithstanding the slump in oil prices, Nigeria remains a favorable investment destination
It has Africa’s largest population: 182 million
And the continent’s largest economy
Current oil-dominated economy presents opportunities for investing in non-correlated sectors
Opportunities Investor-friendly incentives
5-7 year tax breaks0% import duty on machineries100% repatriation of profits
MiningUntapped goldfields in the north-western region Coal and Iron ore deposits in the central regionBitumen deposits in the south-western regionOil and gas in non-traditional regions (for example,
north-east)
Opportunities cont’d Agriculture
In 2016, food import bill was estimated at $22 billionMajor food imports include rice, wheat, and tomatoes Investment in these products promise huge returns
Real Estate Increasing population and urbanization remain major
trendsThis creates opportunities for investments in residential
and commercial real estate (hotels, malls etc.)
ChallengesInsecurity
Terrorism in the north since 2009Militancy in the southern part of the countryHowever, recent counterterrorism initiatives has
reduced incidence of attacks
Macroeconomic instability Falling strength of currency amidst low oil pricesRising inflation However, the new FX regime would address thisCompanies also react by adjusting prices accordingly
Conclusion Opportunities abound in different parts of Nigeria
Challenges also exist
Intending investors could mitigate risks by seeking advice from highly experienced professionals
These professionals should possess deep knowledge of national and subnational factors
For more information, visit http://nugwa.com