Nigeria: West Africa's fastest-growing market
With 180m inhabitants, Nigeria is Africa’s most populous country. In the last decade, the country has achieved positive economic development. The government is implementing policies to attract foreign investors with emphasis on local manufacturing to replace the import of finished products such as cement. Compared to other West African countries, Nigeria has a well-developed and regulated stock exchange and a dynamic banking sector to support investment projects. Also, compared to other countries in the region, Nigeria is characterised by the presence of large industrial groups with significant financial power, eg Dangote Group and BUA Group. By Trond Waerp & Finn Arnoldsen, Africa Consulting Services, Norway.