Nigeria Economy Infographic 2016: A Dynamic Landscape
12 Oct 2016
Major developments in recent years - including the fall in global oil prices and the floating of the naira - have catalysed renewed focus on strengthening the Nigerian economy. Including accelerating diversification efforts, capitalising on the country's large population and promoting growth in the private sector.
- Banking: Borrowing on the rise - Efforts to increase banking inclusion and lending to small and medium-sized enterprises are paying off.
- Energy: Responding to change - Lower oil prices have had an impact on the energy sector over the last two years and efforts to improve efficiency are ongoing.
- Transport: Bringing in supplies - Economic growth and increasing prosperity have resulted in higher imports for Nigeria, with containerised trade driven primarily by incoming goods.
- Industry: Room to grow - Manufacturing in Nigeria has seen solid growth in recent years, with activity in a range of key segments including cement, automibiles and fast-moving consumer goods.