Market Statistics

Nigeria is set to be the next global manufacturing hub. 

  • Lagos:3rd largest mega city in the world behind Mumbai and Tokyo
  • Lagos State: 6th largest economy in Africa worth $131bn GDP
  • Nigeria: $296bn GDP and 180m+ population with rising middle class
  • ECOWAS: Combined GDP of over $500Bn
  • Manufacturing Sector: increased year-on-year by 20%
  • Nigeria: $150bn consumer market
  • Government Policy: Nigerian Industrial Revolution Plan (NIRP) aims to add a further $25bn to annual manufacturing revenues in the next 3 years.
  • Government agencies such as Bank of Industry (BOI), are providing funding and low interest rate, long term loans for manufacturers to re-tool and modernise.
  • Nigeria offers lucrative access to West Africa region (ECOWAS) who have over 300 million consumers, with a combined GDP of over $500.00bn and annual growth rate of 6.3%.
  • Compelling growth story, demographic dividend, political stability, improving market transparency & good economic governance.

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