Deprecated: Methods with the same name as their class will not be constructors in a future version of PHP; Plugin_googleMaps has a deprecated constructor in /var/www/virtual/nbfl.lu/htdocs/plugins/system/ytshortcodes/includes/libs/googlemap/googleMaps.lib.php on line 308
Are you thinking of emigrating abroad?
The NBFL can facilitate your arrival by providing useful, up-to-date information and guidance on all aspects of how to establish and profitably pursue your enterprise in Nigeria.
With a population of 162 million people, Nigeria is currently one of the world’s major investment destinations and one of the fastest growing economies in the world. Nigeria received US$8.9 billion of foreign direct investment money in 2011 – 16% of Africa’s total and the highest in Africa.
A burgeoning middle class has created huge opportunities for businesses in consumer markets like financial services, food, energy and telecommunications.
Nigeria holds its rightful position as a sought after business destination and a major target for foreign direct investment. According to the International Monetary Fund (IMF) 2011 report on Nigeria "The Nigerian economy has grown robustly even during the 2008–09 global crisis, partly due to the effective implementation of countercyclical policies. Nigeria's resilience over the course of the global financial crisis illustrated the merits of its immense population and economic self-reliance. Nigeria offers the interested investor Africa's largest domestic market as well as the additional attractions of a low-cost labor pool and abundant natural resources.
Nigeria is Africa’s foremost business destination second only to SA. Its currency is the Naira. $1.00USD is approximately N156. The country operates a market economy dominated by crude oil exports with the revenue earnings from the sector accounting for 90% of forex earnings and 65% of budgetary revenues. Other exports are cocoa, palm oil, groundnuts, cotton, timber and rubber.
Nigeria’s imports are in the region of $14.54billion USD. Import commodities include machinery, chemicals, transport, equipment, manufactured goods and live animals.
The two major cities in Nigeria, Abuja and Lagos have revealed a boom in housing developments and office complexes which has resulted in the emerging real estate industry in Nigeria. The demand for properties continues to rise despite experiencing the emergence of multiple players.
In recent times, focus is being directed at non oil exports and agriculture, which presently accounts for 30% of the GDP, to diversify the economic base. Opportunities exist for the exploitation and export of natural gas, bitumen, limestone, coal, tin, columbite, gold, silver, lead-zinc, gypsum, glass sands, clays, asbestos, graphite, and iron ore, among others.
The Government has been pursuing economic reforms marked by the privatization and deregulation which seek to transfer state ownership of institutions to the private sector and so engender efficiency n the productive sectors of the economy. The reforms have led to an explosive growth in the telecoms sector after years of stagnation.
A well planned network of primary and secondary roads transverse Nigeria and it is served by five major international airports, 20 principal domestic airports, 23 aerodromes and two military airports. The country has six international seaports and 286 jetties (out of which 267 belong to private jetty operators). It also boasts 120 Television stations and 25 National newspapers. Its internet country code is .ng