Nigeria is advantageously located in the Gulf of Guinea with direct freight access to North America, South America, Europe, and Asia. Nigeria can be the production hub to access the developed markets of North America and Europe, which have a combined GDP of over US$43 trillion.
Nigeria has a total of 54 airports (40 with paved runways, 14 with unpaved runways), six (6) operational ports and five (5) Heliports.
Nigeria also has extensive rail and road networks that connect its cities together, and connects it to its neighboring countries like Niger, Chad, Cameroun, and Benin Republic.
Nigeria has over 17 years of unbroken democratic rule. In 2015, Nigeria recorded another first where political power seamlessly transitioned from an incumbent to an opposition party. There is an active engagement by the three arms of government, a free and robust press, and active civil society organisations.
Nigeria has a workforce of about 77 million people, accounting for about 42 percent of the total population. There is a rich pool of Nigerians with tertiary degrees with about 1.8 million graduates entering the labour market every year.
A high proportion of students opt to pursue graduate studies overseas – thanks to the government and private funded scholarships. These students return with advanced technical knowledge in their fields, international relationships, and understanding of the way of life of the people in the country of their study.
The total hours worked for the year 2015 was 131,096,143,908 hours with labor productivity of US$3.61.
Abundant Natural Resources
Nigeria is blessed with abundant natural resources. Nigeria currently has the 12th largest iron ore reserves in the world with over three (3) billion tonnes of iron ore deposits. Nigeria also has large deposits of Bitumen, Lead, Coal, Baryte, Limestone among others.
Nigeria is world’s largest producer of cassava, and fourth largest for cocoa. It is Africa’s largest crude oil producer and Nigeria has over 84 million hectares of arable land with 230 billion cubic meters of water; abundant and reliable rainfall in over two thirds of its territory, the country has some of the richest natural resources for agricultural production in the world.