The Knowledge to Decide

Nigeria’s economy was worth over USD400 billion in 2013 – ahead of South Africa’s GDP of USD355 billion . Nigeria is becoming Africa’s largest oil exporter. But amidst the opportunities, challenges remain – chiefly political instability, theft of natural resources and lack of infrastructure. Will Nigeria’s emergence as the latest frontier market be a smooth one? A growing economy Now being referred as one of the MINT frontier economies in the world (Mexico, Indonesia, Nigeria and Turkey), Nigeria is expected to emerge as an economic powerhouse of the future . It has a good track record over the past ten years, with 7.4% real GDP growth in 2013, up from 6.7% in 2012. Nigeria is Africa’s most populous country and the ninth most populous in the world. Nigeria is Africa’s most populous country and the ninth most populous in the world, with 173.6 million people in 2013. According to recent UN projections, Nigeria will become one of the most populous countries in the world

Weddings are becoming increasingly extravagant in Nigeria. In Lagos, Nigeria’s most populous city, around USD17 million was spent on parties over a 5-month period in 2013 alone – with one fifth of the sum on weddings! Consumer expenditures in the Nigerian economy amounted to USD160.9 billion in 2012 – a figure expected to surpass USD300 billion in the next 5 years. A significant slice of this expenditure went to weddings and festivities. Over 8,000 visitors attended a wedding trade fair in Abuja in October 2012; featuring 105 wedding vendors from Nigeria. This trend is primarily driven by young Nigerians who have been living abroad. They have incorporated new, international wedding themes into their big day, along with the novel concept of hiring a wedding planner. From elaborate décor to flying in make-up artists from abroad – Nigerian couples are bent on that fairy-tale wedding. How far will Nigerian couples go to make their Big Day a once-in-a-lifetime experience? https://