South African investors hear of Nigeria's 158 million investment opportunities

The economic potential of Nigeria’s population – the largest in Africa, is undeniable for investors who wish to do business in Africa’s biggest market.

A networking breakfast organized by the South Africa-Nigeria Chamber of Commerce and Standard Bank, held in Johannesburg on Thursday September 6, showcased recent exciting developments in Nigeria to potential investors from all over South Africa.

For Honounarable Okechukwu Nwadiuto Emuchay, Consul-General of Nigeria to South Africa, this is the time [for investors] to go to the gateway of West Africa’s other 15 countries. Nigeria was looking at growth rates of 7% in 2012 despite some significant challenges, and is considered one of the most attractive emerging markets globally.
According to Yewande Sadiki, head of investment banking at Stanbic IBTC Bank; “Nigeria is a flourishing producer of crude oil. However, its 158 million people are its ‘oil’ that has not been fully harnessed.”

The crude oil boom of the 1970s led to heavy development in the sector that has generated huge investment in the oil and gas industry, as well as huge revenue for the country. Nigeria has maintained its status as Africa’s largest oil producer and the sixth largest in the world.
But Emuchay says there have been concerted attempts to shift focus to other sectors, the critical ones "begging for investment" being power, agriculture, mining and infrastructure.

The Nigerian government expects power generation to hit an all-time high of 7000 megawatts by December 2012; 600 per cent more than was available. This could surpass South Africa’s per-capita consumption if implemented.

Africa is looking up to Nigeria and South Africa. The two countries have to work together, and any impediments must be addressed and indeed uprooted,” Emuchay said.

nigeria should have been the leader of african first world status but it disintegrates by ethnic and religiuos violence.