6th International Trade Show

07-09
July
2021
Landmark Centre
Lagos
Partner event:
Our Vision Your Future

Organizer & international contact

fairtrade Messe GmbH & Co KG

Ms Freyja Detjen
+49-6221-4565-19

Contact Nigeria

Ms Anna Lucassen
+234 812 817 0008

Nigeria WhatsApp-Service

Nigeria WhatsApp-Service
+234 802 266 9614

The market

Economic data

  • Nigeria is Africa’s largest economy
  • 5th largest oil exporting and 11th largest gas exporting country
  • A regional power with major influence in the region
  • Listed among the „Next Eleven“ economies
  • Expected to become one of the world‘s Top 20 economies by 2050

Population

  • 201 million inhabitants (2019)
  • The most populous country in Africa and the 7th most populous country in the world
  • Expected population by 2050: 411 million

Strengths

  • Huge oil and gas reserves
  • Abundance of natural resources (oil, gas, agricultural land)
  • Attractive consumer market due to high population
  • Revival of agriculture & food industry

General opportunities

  • Exhibitors profit from massive investments into the consumer industry, the construction of shopping centers and an increasing demand for machinery and equipment
  • Engineering: an increasing demand by growing consumer market
  • Chemistry: Diverse customer industries (construction, agriculture) with good economy

Opportunities in the agrofood industry

  • Recession caused revival of local food production and „Made-in-Nigeria“ trend; political will to expand local food production
  • Massive investments in agricultural technology and processing and packaging equipment
  • Increase of yields - Reduction of immense post-harvest losses - Reduction of import bill
  • Experts foresee Nigeria to become the region’s main food supplier
  • Medium-term development extremely promising
  • Biggest market for food products in Africa - still undersupplied

Foreign trade (in billion US $)

Nigeria’s sustained GDP growth (in billion US $)

Africa’s largest economy is on the growth track as Nigeria’s GDP is expected to grow from US$ 397 billion in 2018 to US$ 445 billion in 2019 and US$ 496 billion in 2020.

Nigeria’s GDP has thus grown more than fivefold between 2000 (US$ 69 billion) and 2018 and would grow more than sevenfold by 2020. (World Bank)

Nigeria to become the third most populous country in the world after India and China until 2050

Nigeria’s demographic development

  • 1950: The British colony of Nigeria has 38 million inhabitants
  • 1960: With 45 million inhabitants Nigeria becomes independent, already then the most populous state in Africa
  • 1981: With 76 million inhabitants, Nigeria has doubled its population compared to 1950
  • 2000: 123 million
  • 2009: Compared to 1981, Nigeria has doubled its population again, to 155 million
  • 2019: Nigeria has 201 million inhabitants.
    This makes it the seventh largest country in the world after China, India, the USA, Indonesia, Brazil and Pakistan
  • 2037: Nigeria‘s population has doubled to 307 million and is now eight times as high as in 1950
  • 2050: With 411 million, Nigeria overtakes the USA and is the third most populous country in the world after India and China

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