Nigeria is the largest economy in Africa and promises a large market for any prospective business now and in the future. To help UK businesses understand the opportunities in Nigeria and navigate the local business environment, PwC has been asked by the Foreign and Commonwealth Office (FCO) to prepare this report to:
• identify the sectors of opportunity for UK businesses to export in to Nigeria beyond the oil and gas sector;
• assess the constraints of doing business in Nigeria; and
• quantify the size of the opportunities for UK businesses in the period to 2030.
To form our conclusions, we have used a combination of quantitative analysis of publicly available data, assessment of comparable benchmark countries, and insights gathered from a sample of UK companies and PwC’s experts operating in Nigeria.
The appendices set out our full methodological approach including the choice of benchmark countries. This report would not be possible without the support we received from the Foreign and Commonwealth Office, UKTI, the Nigerian-British Chamber of Commerce, Nigeria Infrastructure Advisory Facility, PwC’s panel of experts and the businesses that we interviewed including Virgin Atlantic Ltd., BT Global Services plc and Guinness Nigeria plc.