Nigeria's Economic Outlook

Nigeria's Economic Outlook
past over 3 years ago

Wed, Mar 11. 7:00AM - 1:00PM

Industrial Development Corporation Johannesburg, South Africa

Event Details

Nigeria assumed the position of Africa’s largest economy in 2014 and as such has attracted a great deal of investor interest. But 2015 is turning out to be a far more challenging year for Nigeria. The rapid drop in the oil price has been destabilising – negatively impacting the country’s revenue and currency value, not to mention threatening the development of key planned infrastructure projects. Despite the broadening of the economy with new sectors contributing to GDP, Nigeria remains very much oil dependent with almost 90% of its export revenue coming from this single commodity. Diversification into industry is imperative for deeper long-term development. However, despite the decline in oil prices, Nigeria’s growth outlook remains robust at 5% according to the IMF. Consumer-facing sectors remain the most buoyant and are benefiting extensively from this growth. But security concerns remain and the upcoming February elections may further compound the unstable situation.

Join us at the Frontier Forum along with leading thought-leaders and expert practitioners to discuss the outlook for Nigeria for this year and beyond.