A Little About This Market…


It’s massive.


And it has one of the fastest growing consumer markets in the world…and in particular the Federal Republic of Nigeria.  Below you’ll find a brief intro to the 7th most populous country in the globe, and take a look to see if YOU would be interesting in finding an open market there.  Oh, and welcome to Africa’s Largest Market!


Basic Info

  • Independence: Declared independence from the UK on October 1, 1960
  • Capital: Abuja
  • Largest City: Lagos; Located on the Southern Coast, primary trade port
  • Population: 1st in Africa; 7th largest globally
  • Size: To compare, its area is nearly twice the size of California
  • Ethnic Groups: Has over 250 ethnic groups, the three largest being:
    •  Hausa & Fulani (29%)
    • Yoruba (21%)
    • Igbo (18%).
  • Religion:
    • Muslim (50%)
      • Hausa & Fulani in the North
    • Christian (40%)
      • Yoruba and Igbo in the South
    • Indigenous faiths (10%)
  • Official Language: English
    • Hausa, Yoruba, Igbo, and Fulani are the other top languages.

Type of Government: Federal Republic, modeled after the American system

  • Branches: Executive, Legislative (the bicameral National Assembly), and Judicial
    • The President is head of state, head of government, and head of a multi-party system.
    • Law is based off of English Common law, however it is important to note that several of the northern states use Sharia law.
  • Division: Divided into 36 states and one capital district.
    • States are nearly autonomous, with the governors wielding immense power in their home states.
  • Multi-Party System (Political Breakdown Below):
    • People’s Democratic Party (PDP) is the current party leading the Administration.
      • Has dominated politics since the first elections that followed the fall of the military junta in 1999.
    • All Progressive Congress is the primary opposition.
      • An amalgamation of three opposition parties—the Action Congress of Nigeria (CAN), the All Nigeria People’s Party (ANPP) and the Congress of Progressive Change (CPC).
  • Upcoming Elections:
    • 2014: PDP Primary Election, Gubernatorial Elections
    • 2015: Presidential & Parliamentary Elections


  • GDP: $262 Billion; with 7% annual growth
    • Nigeria expected to overtake South Africa as largest economy within the next two years
  • Natural resources: Natural gas, petroleum, tin, iron ore, coal, limestone, niobium, lead, zinc, and arable land.
    • Country still relies on oil for 80% of its income
      • Oil makes up 95% of Nigerian export earnings and 40% of government revenues
    • Primary petroleum reserves reside along the southern coast.
      • Nigeria actually imports its gasoline, due to a lack of refineries.
  • Agricultural products: cocoa, peanuts, cotton, palm oil, corn, rice, sorghum, millet, cassava (tapioca), yams, rubber, cattle, sheep, goats, pigs, timber, and fish.
  • Sample of Large American/Foreign Companies Present: Wal-Mart, Marriott, 7UP, Guinness, Accenture, Fidelity, Chevron, Daewoo, Dupont, Microsoft, Shell.

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