Nigeria
The original report was published in The Times on Monday, December 10, 2012
 Prime Minister David Cameron and President Goodluck Jonathan held a press conference in Lagos during Mr Cameron’s visit on July 19 2011 David Cameron described Nigeria as 'a dream waiting to happen' during his visit in July 2011 with the government aiming for it to become one of the top 20 economies in the world by 2020
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Flour Mills of Nigeria launched in 1962 pursuing the vision of producing high quality food. The company has since continually increased and expanded its business, and has grown into an industrial giant of West Africa
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 Inaugurated in 2009, the Mfamosing cement works is the second largest cement plant in Nigeria Due to new regulation on cement imports, FMN ventures into cement production through its Unicem subsidiary, in partnership with Holcim and LaFarge, but keeps options open for further international collaborations
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Agriculture, employing over 70 per cent of Nigeria's population, is a mainstay of the country's economy. However, rising food prices and food scarcity worldwide as well as challenges such as infrastructure gaps remain obstacles the country must overcome in order to feed and empower its citizens and move the country forward
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 Key mineral resources such as bitumen, gold, iron ore, zinc and gold are being targeted for exploitation 'Cadastrophic' might be the word that best describes the state of Nigeria's mining sector up to 2006, when the government then in office assumed responsibility for regulating, supervising and facilitating the activity, as well as for cleaning up the mess left over from decades of neglect and indifference
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The government is drawing a roadmap to ensure a steady power supply in the future. The privatisation of the Power Holding Company of Nigeria means its entities are increasingly private sector oriented and open to international investors
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 The government is counting on private firms to bring major investment to the energy sector and it assures that the sell-off process is being executed with the utmost transparency Private-sector participation is crucial to building a power sector that can unleash the economy's full potential
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Nigeria's commercial capital is set to convert it into a leading emerging economy
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Nestled in the heart of the government area of Lagos is Southern Sun Ikoyi, part of Africa's leading hotel group, Tsogo Sun
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Privatisation will require a much more customer-friendly approach from Nigeria's electricity distribution companies
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 Just north of Abuja, the imposing Zuma Rock monolith is said to represent the exact centrepoint of the country Abuja marks Nigeria's geographical centre and the crossroads of its political, cultural and religious groups
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The Governor of Port Harcourt outlines why Rivers State is referred to as 'the place to do business' in Nigeria
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Infrastructure is the key to the future in Nigeria and this indigenous firm has quickly become a market leader, benefiting both government and community
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Located in the Onne Oil and Gas Free Zone, West Africa Container Terminal (WACT) caters to the greater Port Harcourt area and eastern Nigeria, including the local lucrative oil industry
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The privatisation of the power sector in Nigeria is set to provide major investment opportunities for companies and individuals
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A new free trade zone is being created around the only facility for deep-draught shipping between Spain and South Africa
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Management at DeltaAfrik, a leading project development company in the hydrocarbons industry, see massive potential remaining untapped
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 High levels of education, experience and expertise set Gramen’s engineering and construcion services apart Gramen Petroserve Nigeria Ltd offers a wide range of vital support services to local and multinational operators in Nigeria's oil, gas and allied industries
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IOCs are teaming up with locals to further progress Nigeria's upstream sector
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High-tech SDF is now one of Nigeria's largest integrated oil and gas service companies
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When local players began taking on a larger role in Nigeria's oil and gas sector some 12 years ago, Degeconek (Nigeria) Ltd found itself in the right place at the right time
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The creation of a new 128km pipeline across some of Nigeria's most challenging terrain tested the full compliment of Oilserv's services
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Once approved, the PIB will hail the restructuring of Nigeria's oil and gas industry
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Tilone Subsea is a 100% Nigerian company that has become a major and worthy partner for international oil companies, who previously considered local companies to be of inferior quality
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The Nigerian Chamber of Shipping encourages dialogue between local and foreign players to improve the skills of Nigerians, promote partnerships and increase Nigerian participation
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 Nigerian companies are proving highly capable partners of international oil companies The successful, fair, sustainable development of an economy relies on pioneering homegrown talent being able to thrive
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Aero Contractors Nigeria is the oldest enterprise in Nigeria and its first registered aviation company. It is also the biggest airline in the domestic market. As Aero looks to become Nigeria's regional hub for aviation, it works with advantages of market leadership, geography, and a catchment area of Africa's largest population
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Delta State Commissioner for Economic Planning Kenneth Okpara affirms that the state's economic diversification beyond its substantial oil wealth is on course
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After taking a beating in recent years because of financial crises and sluggish economic growth, many of the world's stock markets are rising in 2012
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Trust and experience are the most important elements that investors look for when seeking an agent to handle their money, and few companies in the country are more trustworthy, or have more experience, than Icon Stockbrokers Ltd
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When Colombia Business School was looking for a successful, cutting-edge, high-tech African company to feature in a case study for its MBA hopefuls, it chose Nigeria's Computer Warehouse Group (CWG)
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The Bureau of Public Procurement's principles govern Nigeria's infrastructural and technological advancement
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With Goodluck Jonathan now in his second year as Nigeria's president, the violence that erupted after his April 2011 victory still casts its shadow on his presidency and eclipses the reforms that gave Nigeria what observers agree were the cleanest and fairest elections in its recent history
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With its core focus on the food business, Flour Mills of Nigeria seeks to diversify its line of business and has ventured into agro-allied business, cement production and infrastructure development, among other areas
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 Dr Akinwumi Ayo Adesina, Federal Minister of Agriculture and Rural Development The goal of the government is to make Nigeria an agriculturally industrialized economy, to create wealth, jobs and markets for farmers, and to revive the rural economy. With 70 per cent of employment deriving from the agricultural sector, the needs for its development are obvious
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Nigeria's mining industry has 'come of age' with new developments that include investment-friendly laws, privatisation of the sector, the creation of a robust regulatory environment and improvements in infrastructure
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 Alhaji Aliko Dangote, CEO of the Dangote Group You take a country in which agriculture is the primary economic activity, that is home to 20 per cent of Africa's total population and that has doubled its GDP over the past 13 years to grow at a current rate of 7.4 per cent, and most people would expect to find a market of hungry consumers of staple foods and whatever processed products can be made from them
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Setting tariffs that provide electricity at the lowest cost to consumers, while bringing in decent returns for the industry and encouraging new investment can be a tricky balancing act
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 Mike Uzoigwe, CEO of Egbin Power Plant CEO Mike Uzoigwe calls for more foreign and domestic investment at Egbin Power Plant to help develop Nigeria's virgin market
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Blending international standards with warm African hospitality, Eko Hotel & Suites is a top choice for accommodations in Lagos, for business travellers and tourists alike
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 Chris Akamnonu, Chief Executive Officer of the Ikeja Electricity Distribution Company It is no surprise that Nigeria's largest electricity supplier has proven the most popular of the companies on offer in the ongoing privatisation process
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Local and foreign investors are the key to further building infrastructure and increasing accessibility throughout the African nation
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 Abdul Ganiyu Umar, CEO of Abuja Electricity Distribution Plc Charged with delivering power to more than just the nation's capital, the Abuja Electricity Distribution Company is focusing on efficiency
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The Port Harcourt Electricity Distribution Company is boosting its IT resources as part of its drive to bridge the gap in power supply and demand
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 The Port of Onne is renowned for its high safety standards and its contribution to the local economy The window of opportunity at Onne is currently wide open, but it won't be forever
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The rapid development of infrastructure in the state of Akwa Ibom is encouraging for international investors
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Executive Chairman of Seven Energy Ltd Phillip Ihenacho encourages global investors to get to know Nigeria first hand
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 Ernest Nwapa, Executive Secretary of the Nigerian Content Development Monitoring Board (NCDMB) 'Audacious' legislation aims to greatly boost local content in the oil and gas sector
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 International oil giants such as ExxonMobil, Shell, Chevron, Total and Saipem are helping develop the skills and know-how of local officials, contractors and suppliers International oil companies thrive through working with locals while imparting their expertise on their Nigerian counterparts
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Established in 2006, Segofs Energy Ltd is today a leading 100% Nigerian company specialised in directional drilling that works with big names in the oil and gas sector
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Nigeria's Lagos Deep Offshore Logistics Base is leading the way in the provision of logistical and engineering services for Nigeria's deepwater offshore oil and gas sector
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NRG Drilling has big plans for the future and is taking lessons from the past to realise them
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 Boasting modern technology and equipment, Oilserv has proven its wide-ranging capabilities in tough circumstances The oil and gas services firm has undertaken challenging projects which it has delivered on time and to client satisfaction
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With an international background which had seen him work in 12 countries, Emeka Okwuosa was well-placed to see the broader picture when it came to setting up a company in Nigeria's oil and gas industry
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Lagos Oil Club brings greater understanding to a complex sector. The organisation holds monthly round table discussions with prominent leaders of the petroleum industry
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Locally owned, Tolmann is regarded as one of the continent's top safety and rescue training centres, boasting international certifications and A-list clients
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Anyone interested in Nigeria becoming a prominent maritime nation should have faith in the Nigerian Maritime Administration and Safety Agency (NIMASA)
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Top marine support and transportation services available in every energy region in the world
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 Dr Emmanuel Eweta Uduaghan, Governor of Delta State The Delta State government aims to turn around the state's economic fortunes by initiating policies that will diversify and expand its revenue base, as well as launch programmes to create employment and protect the environment
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Teamwork has dramatically improved the nation's banks
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WSTC Financial Services Ltd (WSTC) has consistently ranked as one of Nigeria's top independent boutique firms by securities trading activities and private wealth management services
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Mobile telecom services have grown rapidly in recent years, while IT access and use still needs greater promotion
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 John Ugbe, Managing Director of MultiChoice Nigeria Nigeria has long been an entertainment powerhouse, exporting its music and cinema around the world
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POPULATION
170.1 million (July 2012 estimate)
AREA
923,768 square kilometres (32nd biggest in world)
NOMINAL GDP
$244.2 billion (2011 estimate)
REAL GDP AT FACTOR COST GROWTH
7.4% (2011 estimate)
GDP PER CAPITA (PPP)
$2,600 (2011 estimate)
GDP COMPOSITION BY SECTOR
Agriculture: 35.4%
Industry: 33.6%
Services: 31% (2011 estimate)
TRADE BALANCE
$38.27 billion (2011 estimate)
CURRENT ACCOUNT BALANCE
$15.61 billion (2011 estimate)
TOTAL INTERNATIONAL RESERVES
35.21 billion (2011 actual)
GINI INDEX (distribution of family income)
48.8 (2010)
PUBLIC DEBT
17.6% of GDP (2011 estimate)
CENTRAL BANK DISCOUNT RATE
4.25% (2010 estimate)
COMERCIAL BANK PRIME LENDING RATE
16% (2011 estimate)
MARKET VALUE OF PUBLICLY TRADED SHARES
$50.88 billion (year end 2010)
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