This week I am going to be investigating four nations that I think have intriguing investment opportunities that are part of the World Cup 2010 in South Africa. Today, we move to one of the most inspiring emerging markets of the Cup – Nigeria. Tuesday, we looked at the Eastern European nation of Slovenia. Yesterday, we investigated the political hotbed Honduras, and we will finish up with Chile. These reports will talk about the nation, its history, its economy, and why it is an interesting investment moving forward. This will help us get into the spirit for the World Cup and connect it to investing! The Nigerian national team is on the left.
Nigeria is one of the most inspiring African economies, and among the four investigations that I am doing, it has the most potential to become a true economic leader in the world. It is listed as one of Goldman Sachs “Next 11” nations, which are in its opinion the next eleven countries that pose potential emergence after the BRICs. The country has a rich history that dates back to 9000 BC, and it is the second largest economy in Africa behind South Africa. Located in the West of Africa on the Atlantic Ocean, Nigeria has begun to establish itself as a truly enticing emerging market.
Nigeria is celebrating its 50th Anniversary of official independence from Great Britain this year, which is part of its great history – colonialism. Nigeria was a colony of Great Britain from the beginning of the 20th Century onwards; however, the nation had been used for slave trade and had other spheres of influence from Britain, Portugal, Spain and other European nations since the 17th Century. The nation, after independence, sought a democratic government, but the nation was sharply divided among ethnic lines that had been extinguished during colonialism. The nation fell into civil unrest throughout the 1960s, ending in a bloody civil war from 1967-1970. The nation began its democratic regime in 1999, and it has been successful up until this point; however, it is criticized for unfair elections and corruption still.
Despite its infancy, Nigeria’s economy is surprisingly well off due to its rich natural resources that the nation has been able to develop and market. The nation has the world’s 37th largest economy at $315 billion. It is the most populated nation in Africa, and it, therefore, has a GDP per capita of only…
