The Changing Face Of Business In Nigeria

Lawyers Alert

By Amy Jadesimi

Ask most people what they think of Nigeria and the answer will likely include references to oil, population and corruption. Perhaps now Boko Haram. And yet there is a flux of young Nigerians, like me, returning home – excited by the opportunity. Why?

A quick look at the statistics goes some way to explaining. According to PwC’s recent research, Lagos ranks third out of Africa’s 20 biggest cities in its ability to attract foreign direct investment and its growing middle-class. And in 2013, Nigeria surpassed South Africa as the continent’s largest economy after a statistical revision revealed national GDP to be around $509 billion, trumping South Africa’s $372 billion. So stunned was the international community that the data was in turn verified by the International Monetary Fund, the World Bank and the African Development Bank.

So there is clearly an opportunity to be grasped. But it’s not just…

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