In focusing on the risks involved, investors could miss out on attractive opportunities in Nigeria. Nick Price, portfolio manager of the Fidelity EMEA fund, outlines how they can be overcome.
To get a sense of just how far Nigeria has progressed, we need to first consider the country’s earnings per person in 2000. At the time, Nigerians were being paid $390 per annum in aggregate. This year, the figure is expected to reach over $1,600 and, in four years time, almost $2,000. While still small compared to western standards, when one considers that Nigeria has a huge population nearing 165 million in size, which will increase by another 20 million in 2016, the exponential effect of this is huge. Investors, blinded by headlines that speak of corruption, often miss the opportun...
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