Economy

With a population of over 140 million people, Nigeria is obviously the largest market in sub Saharan Africa with reasonably skilled and potential manpower for the efficient and effective management of investment projects within the country. It is well connected by a wide network of motorable all-season roads, railway tracks, inland waterways, maritime and air transportation.

Nigeria’s economy could be aptly described as most promising. It is a mixed economy and accommodates all corners, individuals, corporate organisations and government agencies, to invest in almost all range of economic activities. Since 1995, the Government has introduced some bold economic measures, which have had a salutary effect on the economy by halting the declining growth in the productive sectors and putting a stop to galloping inflation; they have reduced the debt burden, stabilised the exchange rate of the Naira and corrected the balance of payments disequilibrium.

In Successive budgets, since May 1999 when civil rule was restored to the country, Government put in place some fiscal measures, which addressed the exchange rate regime and the capital flight issue, which hitherto inhibited project planning and execution. The policy of expanded production through guided deregulation has paid off with the economy recording a real growth of over 3.2% of GDP. The rate of inflation declined appreciably.