Commonwealth Trade Case Studies: Nigeria

Nigeria has the largest economy in Africa with a rapidly growing population of some 190 million, in addition to being a major oil producer and exporter. Nigeria is already the 7th most populous country in the world and is projected to overtake the United States of America as the world’s third most populous country during the 21st century. Nigeria is a major commodities exporter and is a significant potential market, leading it to be considered a target to grow post-Brexit trade within the Commonwealth. The country has the world’s 10th and 9th largest oil and natural gas reserves respectively. Nigeria is the number-one recipient of FDI in Africai, although the country is extremely poor relative to European standards and has problems in infrastructure, power supply and mass unemployment