DHL GLOBAL TECHNOLOGY CONFERENCE 2015 Breakout Session:
NIGERIA: Large Country, Big Opportunity
Dubai, 14-16 April 2015
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NIGERIA: Large Country, Big Opportunity
Agenda
The opportunities for growth in Africa have never been better and, with
Nigeria hosting the largest population on the continent and looking to
surpass the entire population of the USA prior to 2050, Nigeria's
prospects for retail and services opportunities are unmatched. It's not
by accident that Nigeria also has the largest GDP in sub-Saharan Africa
surpassing the rather mature economy of South Africa. According to the
latest "ease of doing business" index, Nigeria is ranked towards the
bottom of the rankings at 170th place. The country continues to
struggle with inadequate power issues, a poor infrastructure, security
concerns and very heavy government bureaucracy. With all of the
challenges in Nigeria there comes a multitude of opportunities for
potential investors looking into this growing market; outside interest is
being fueled by a talent pool of young, ambitious people and an
increasingly well-educated population. For those who want to learn
more about chances to succeed in Nigeria, Sim Shagaya and Tayo
Oviosu, two entrepreneurs in the Nigerian technology market, will share
their views and lessons learned from their start-up business in Nigeria.
Facilitator
• Randy BUDAY
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NIGERIA: Facts & Figures
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NIGERIA: Past
Discovered Oil in 1956
Gained Independence from British rule in 1960
Faced series of ethnic conflicts which led to 30 month long civil
war in 1967
Experienced 6 Military Coups and persistent corruption
During the oil boom of the 1970s, Nigeria joined OPEC and the
huge revenue generated made the economy richer.
Nigeria's Delta region, home of the large oil industry,
experiences serious oil spills and other environmental problems,
which has caused conflict.
Religion and ethnic fighting often threaten Nigeria's stability
Breakout Session NIGERIA: Large Country, Big Opportunity | DHL Technology Conference Dubai | April 14-16 2015
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NIGERIA: Present
Democratically elected government for 16 years
since 1999
Top Exports includes: Oil, Natural Gas, Cocoa,
Cashew Nuts, Corn, Rubber, Peanuts, Yams
Mobile Phones: 140 Million with 54% accessing
internet via mobile phones
Internet Users: 70 Million
4 International Airport 6 Seaports
Literacy Level: 61.3%
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NIGERIA: Present
Breakout Session NIGERIA: Large Country, Big Opportunity | DHL Technology Conference Dubai | April 14-16 2015
Nigeria is the home of the richest man in Africa –
Aliko Dangote ($16Bn net worth). Also, Nigeria has 5
of the 10 richest pastors in the world worth($10-
150million)
Nigeria’s movie industry (popularly known as
Nollywood) is the 3rd largest in the world and
produces the second highest number of movies
yearly (after Bollywood)
Nigeria spends an average of over $200 million on
the importation of French champagne
60 million Nigerians spend average $8billion on
generator and alternate power consumption
annually
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NIGERIA: Present
Breakout Session NIGERIA: Large Country, Big Opportunity | DHL Technology Conference Dubai | April 14-16 2015
Based on amount squandered annually ($81
Billion), Nigeria is one of the most corrupt
nations in the world.
Nigeria boasts of the longest bridge in Africa
(Third Mainland Bridge – 11.8km)
The Nigerian general election of 2015 was the
5th election to be held since the end of military
rule in 1999. The incumbent president, Goodluck
Jonathan lost the elections to General
Muhammadu Buhari.
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CHALLENGES
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CHALLENGES
Nigerian economy has continued to grow at a rapid 6-8% per
annum (pre-rebasing), driven by growth in Telecommunications,
eCommerce, Construction, and Services/Retail.
Despite its strong fundamentals, oil-rich Nigeria has been hobbled
by:
Inadequate power supply
Lack of infrastructure and poor institutions
Government Bureaucracy
Restrictive trade policies
An inconsistent regulatory environment
A slow and ineffective judicial system
Customs
Insecurity
Pervasive corruption
Extreme Poverty
Human Capital
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OPPORTUNITIES
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OPPORTUNITIES
As Nigeria continues to develop, further growth opportunities are
imminent as a result of activities in the following areas:
MINT 4
Agriculture
Power generation and Energy
Social Infrastructures – Health, Education, Water Resources
Transportation – Road, Rail, Air, Waterways
Construction and Real Estates
Mineral Resources
Telecommunications
Retail Opportunities
eCommerce
Hospitality
Automobile and Manufacturing
Entertainment
Life Sciences
Public Private Partnership
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THE FUTURE
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THE FUTURE
•Lagos and Eko Atlantic are expected to become the
new financial epicenter of West Africa by the year 2020.
By that time, Nigeria will be one of the world’s 20
largest economies.
•MGI estimates that, in 2013-2030, Nigeria could expand
its economy by more than 6% annually, with its GDP
exceeding $1.6 trillion – moving it into the global top
20.
•If Nigeria’s leaders work to ensure that growth is
inclusive, an estimated 30 million people could escape
poverty.
•By 2030, more than 34 million households, with about
160 million people, are likely to be earning more than
$7,500 annually, making them aspiring consumers
•Population to reach 444 million by 2050 surpassing the
USA to become the 4th largest population in the world
Breakout Session NIGERIA: Large Country, Big Opportunity | DHL Technology Conference Dubai | April 14-16 2015
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THANK YOU