Lets Talk about Nigeria

Continuing the Let’s Talk- serie, NIR organised another successful member event; “Let’s talk about Nigeria”, the 7th of October.

We proudly presented Ambassador Carl Michael Gräns , Embassy of Sweden in Abuja; Ms. Anthonia Adenaya Huard, Head of West Africa, Business Sweden and Ms. Tariye Gbadegesin; Managing Director & CIO, ARM-Harith Infrastructure Investment. All three speakers sharing their views of the economic and political development for Nigeria together with future perspectives for the region together with CEO Christine Bäckström and Karin Åker from NIR.

Nigeria is projected to be one of the largest consumer markets by 2030. Considering population growth, increased affluence and growth of the middle-class, urbanisation rates, and rapid spread of access to the internet and mobile phones, there exists exciting opportunities for expansion in retail and distribution as well.

But the Covid-19 pandemic has yet led Nigeria into a new recession with 2020 projected figures of a GDP of -5,4%, increased unemployment up to 27% and inflation over 14%. The Giant of Africa- Nigeria- is Africa’s largest economy (pre-covid-19) and relies heavily on oil as its main source of foreign exchange earnings and government revenues.

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