Nigeria - Export Britain

Export Britain


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Largest city

Administrative divisions
36 states 

Naira (NGN)


170,123,74 (2012)

Calling code

Official language

Latest Business Opportunities

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Ease of trading across borders

Importing a standard container of goods into Nigeria requires:



Nigeria is a middle income, mixed economy and emerging market, with expanding financial, service, communications, and entertainment sectors. As of 2012 Nigeria is the second largest within Africa and is on track to becoming one of the 20 largest economies in the world by 2020. Since 2008 the government has begun to implement the market-oriented reforms urged by the IMF, such as modernising the banking system, removing subsidies, and resolving regional disputes over the distribution of earnings from the oil industry. The government is working toward developing stronger public-private partnerships for roads, agriculture, and power.

Economic snapshot (% annual growth rate)

GDP 7.4 6.5 5.8
Export of goods and services 29.1 -5 4
Import of goods and services 20.3 -2.1 9.5
Inflation - - -
Short-term interest rates (%) - - -
Exchange rate (per £) - - -
Population 2.7 2.6 2.5
Unit labour cost - - -
Source: Oxford Economics

Economic outlook

Nigeria will continue to experience growth rates of roughly 6% in the foreseeable future. This economic growth, however, is only benefiting certain segments of the population, a dynamic which could pose a long-term structural problem. 

Trade outlook

Nigeria’s intra-regional trade within Africa will be Nigeria’s fastest growing source of growth. Exports to the Middle East and North Africa region are also expected to witness solid growth. Nigeria’s import needs will rise rapidly, both in terms of capital goods for infrastructure and consumer products for the domestic market. India has overtaken the US to become Nigeria’s major export trading partner and will become Nigeria’s fastest growing import partners, followed by Brazil.

SWOT analysis

Major oil producer in sub-Saharan Africa
Poor governance
Nigerian government has been undertaking several key investment-related reforms
Weak regulatory environment
Inadequate infrastructure

Nigeria's trade with the UK

Sector segmentation growth

Sectors to watch:
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Fastest-growing exporters into Nigeria

1 Ghana
2 South Africa
3 Brazil
4 India
5 Spain
6 Netherlands
7 Peru
8 Portugal
9 Indonesia
10 Australia

Total merchandise trade - Leading import partners

Total merchandise trade - leading import partners
Opportunities for UK businesses

African countries need to invest in infrastructure, both human and physical. Without these investments their growth will not be sustainable. Prospects for UK businesses in Nigeria are especially promising in the following sectors: oil and gas equipment, healthcare services and medical equipment, electrical power generating equipment, computer hardware/software, telecommunications equipment, automobile parts and accessories and construction.

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Your local Chamber provides a range of export services and links to overseas markets.
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