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NIGERIA FACES A COMMERCIAL QUAGMIRE.
(From Market - Africa/Mid-East)
It appears that Nigeria possesses all of the natural and human resources to be Africa's most dynamic consumer market, yet real household income has deteriorated in recent years. Labor unrest has proven to be particularly disruptive to the economy over the past year and associated violence is undermining consumer confidence
With a population of approximately 134 million, Nigeria is by far the most populous nation in Africa. According to data released by the Population Reference Bureau (PRB), Nigeria has a high rate of natural population increase (2.8 percent). That will contribute to population growth of 130 percent from 2003 through 2050. The nation's purchasing power parity of less than US$850 per year places it squarely among the ranks of the world's most impoverished nations
The pace of Nigerian job creation is running well below the growth rate of the job force. Low consumer confidence and high ...
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