[SPECIAL REPORT]
By NIDHI PANDEY, NIGERIA
B
usiness as part of man’s activities thrives in a
conducive and sustainable environment which in
turn depends on the availability of infrastructure put
in place by the government.
Nigeria, enjoying a good socio-economic profi le among
the comity of nations is a country abundantly blessed with
oil resources, fl ora and fauna is a federation of thirty-six (36)
states and a federal capital territory. Named by a British young
lady, Dame Flora Louisa Shaw, Nigeria gained independence
from the British Empire fi fty-eight years ago with boundless
optimism, splendour, and spectacle. Being the largest
economy in Africa with a substantial growth rate, Nigeria
stands as the prime investment destination of the 21st century.
Over the years, Nigeria, like other developing countries,
has adopted a private sector-led growth with emphasis
on policies that will promote investment and industrial
development. The country has endlessly experienced
24 • Nigeria-India• 2018
justifi able economic growth judging by the year-by-year
increase in Gross Domestic Product (GDP). From 2001
onwards, there has been extraordinary improvement prompted
by favourable government policies on manufacturing geared
towards autonomy, employment generation, and export
promotion. Remarked as the third fastest emerging economy
in the world after China and India, Nigeria is also a member
of Commonwealth Nations.
Investment opportunities in Nigeria expand to sectors
like agribusiness, power, solid mineral, health-care, the
automotive sector, and business process outsourcing etc.
Some of them are mentioned below.
Automotive sector
Being a fast-growing middle-class economy, Nigeria
defi nitely is a lovely choice for the automotive sector. In order
to exploit the potential of the automotive sector, the Nigerian