Where is Nigeria's Economy Headed?
Nigeria assumed the position of Africa’s largest economy in 2014 and as such has attracted a great-deal of investor interest. But 2015 is turning out to be a far more challenging year for Nigeria. The rapid drop in the oil price has been destabilising – negatively impacting the country’s revenue and currency value, not to mention threatening the development of key planned infrastructure projects. Despite the broadening of the economy with new sectors contributing to GDP, Nigeria remains very much oil dependent with almost 90% of its export revenue coming from this single commodity. Diversification into industry is imperative for deeper long-term development. However, despite the decline in oil prices, Nigeria’s growth outlook remains robust at 5% according to the IMF. Consumer-facing sectors remain the most buoyant and are benefiting extensively from this growth. But security concerns remain and the upcoming February elections may further compound the unstable situation.
Key themes to be addressed:
- What impact will significantly lower oil prices have on the Nigerian economy?
- What is the outlook for Nigeria’s environment of business?
- Will the attractiveness of Nigeria’s mass consumer market continue to increase unabated?
- What are the country’s infrastructure spending priorities in light of the new economic reality?
- How should companies re-evaluate risk in Nigeria?
- What lessons are there for establishing manufacturing operations in Nigeria and what implications will this have on foreign investors’ market entry strategies?
Join leading business people and thought-leaders as we address the Business & Economic Outlook for Nigeria.
Speakers Include:
- Dr Gene Leon, Mission Chief and Senior Resident Representative, IMF Nigeria
- Cliff Zephyrine, Director, BNP PARIBAS
- John Olufemi Okanlawon, General Manager and Chief Representative Officer, Union Bank of Nigeria
- Eme Essien, Country Manager: Nigeria, International Finance Corporation
- Marie Francoise Marie-Nelly, Country Director, World Bank Nigeria Country Office
- Alex Okosi, Director and Senior Vice President, MTV Networks Africa
- Konrad Reuss, Managing Director & Regional Manager, sub-Saharan Africa, Standard & Poor’s Ratings Services
- Niezaam Davids, Business Development Executive, Tiger Brands
- Paul Thackwray, Marketing Director, Sony Music Entertainment
- Greg Heale, Strategic Business Development, Group Five
- Samira Mensah, Associate Director, Standard & Poor’s
- Mike Whitfield, Chief Executive Officer, Nissan South Africa
- Dr Martyn Davies, Chief Executive Officer, Frontier Advisory
Wednesday the 11th of March, The Industrial Development Corporation (IDC), 82 Grayston Drive, Sandton, Johannesburg, 09h00 – 15h00.
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