Nigeria PESTLE Insights - A Macroeconomic Outlook Report

Nigeria PESTLE Insights - A Macroeconomic Outlook Report

Summary

Mining, manufacturing and utilities contributed 22.2% to the gross value added (GVA) in 2021, followed by wholesale, retail and hotels activities (14.7%), and transport, storage and communication activities (12.6%). In nominal terms, the three sectors are expected to grow by 13.6%, 11.6% and 10.5%, respectively, in 2022.

Three cities generated around 28.8% of Nigeria’s GDP and comprised 10% of the country’s population, as of 2021

The NGSEINDX Index exhibited a volatile trend over past year. As of December 2, 2022, the Index stood at 47,656.6, compared to 42,248 on December 2, 2021.

Scope

• In November 2022, the National Council on Privatization (NCP) approved a governance framework for development of a $3 billion hydropower plant in Makurdi, Benue State.

• Macroeconomic Outlook Report identifies the potentials of the country as an investment destination by analyzing the political, economic, social, technological, legal and environmental (PESTLE) structure.
• PESTLE Insights provides 360 degree view of the economy which can be used as a strategic tool to understand the market dynamics, business potentials and direction of operations
• Along with providing the country’s snapshot, the report captures the risk factors pertaining to the macroeconomic risks, political environment, legal environment, demographic and social structure effectiveness, technology & infrastructure and natural and geographic aspects that might impact business.
• This report also highlights key clusters/cities which contribute significantly to the country GDP and population along with major companies’ presence in these areas.