The World Needs Nigeria to Succeed

Featuring Dr. Andrew S Nevin

Andrew Nevin has spent the past ten years working in Africa, the last five of which in Lagos, where he is Chief Economist – Africa for PwC. With the largest city population in the continent and some ambitious development plans, Lagos is fast becoming the key commercial center and Andrew outlines the scale of the investment taking place, as well as the challenges for private equity players and for growth advancement. Filmed on March 22, 2017, in London.

Published on
14 April, 2017
Topic
Africa, Frontier Markets, Global Investment
Duration
25 minutes
Asset class
Currencies, Equities, Commodities
Rating
8

Comments

  • MC

    Michael C.

    18 4 2017 10:37

    0       0

    Interesting interview and great to hear the positive view on Nigeria. A truly entrepreneurial economy albeit with many issues. Worth having a look at Eko Atlantic - progress looks to be pretty fast.

  • GP

    Gordon P.

    15 4 2017 21:19

    1       0

    I enjoyed hearing and learning about SA and Nigeria - I had a different view but after viewing/listening came away with a more positive and hopeful view of Africa -- awesome, Thanks RV

  • KK

    Kevin K.

    15 4 2017 19:28

    2       0

    I've lived in West Africa (and Dubai) and the comparison he is making between the two is unfounded. The institutional base couldn't be more different with Africa having a mirage of problems related to corruption, politics, and crime. Confidence in eradicating a lot of these issues is going to be key to bring in the level of foreign investment that is being spoken of here.

  • MN

    Mark N.

    15 4 2017 15:30

    1       0

    Odd camera work in this video, it appears to me that the level of zoom on the face is higher than in other videos.

    • MN

      Mark N.

      15 4 2017 15:36

      0       0

      You can even see his contact lenses at this level of zoom.

    • PU

      Peter U.

      17 4 2017 09:44

      0       0

      lol

  • MA

    Michael A.

    15 4 2017 13:59

    14       0

    As a young Nigerian, it's interesting to hear his take on this . I thought his comparison to Canary Wharf and Dubai is slightly flawed though. One thing that allowed those visions to be realised, was the very simple fact those two places had a structure of governance. It's a well known fact that Africa, not only Nigeria (I hate to say it), has a culture of corruption (and no real governance). Until the culture begins to change, then we can start talking about Nigeria in the same realm of India & China. As the interviewee alluded to, "Investors have taken big bets... and controlled [their] whole eco-system end to end..you can't rely on other people." That, in a nutshell, encapsulates the whole problem of Africa - not only Nigeria.

    • MO

      Michael O.

      25 9 2017 15:09

      0       0

      I am a Nigerian who lives in Nigeria and runs a company I built from scratch here in Nigeria.

      I am guessing Michael lives outside of Nigeria and maybe hasn't stayed in Nigeria for more than two years stretch in a very long while.

      I don't disagree that there is a level of corruption in Nigeria that is higher than in developed countries. What I disagree with is the conclusion he's drawing from it -- that the country can't rise because of it.

      The reality for those of us on ground here is that the corruption is concentrated majorly in public sector and affects your business if your primary customer is the government.

      If you are here in Nigeria, you'll be amazed by the many Chinese, Indian, Lebanese and Indonesian businesses spread across the nation. They are mostly family owned businesses and not multinationals so you won't find them from looking online or from outside. They are into consumer goods, retail, construction and oil services. It's only if you are close to the management that you'd find out that they are not Nigerian owned.

      No two countries will follow exactly the same path to growth. The very things that keep some out are what create juicy opportunities for others. And the Chinese are pouring in money like the entire country is a gold mine.

      Yes, conventional western institutional investors are reading whitepapers and media coverage that shows the obvious risk in investing here. But then, there are those who came down here to see things for themselves and find that the risks can be reliably managed.

  • CL

    Charl L.

    15 4 2017 05:50

    1       0

    Study the fine MTN got and the loss Tiger Brands made on their purchase of the Dangote Flour mills. Lots of money to be made from outside investors.

    • JV

      Jonas V.

      15 4 2017 11:57

      0       0

      Explain more please?

  • RE

    Rachel E.

    14 4 2017 20:46

    5       0

    Corruption in these countries will not allow major outside $$$$.

    • MM

      Michael M.

      14 4 2017 23:38

      4       0

      Yeah no--one ever seems to notice that these emerging markets rarely actually 'emerge'. The lower estimate for african population by 2100 is 3.5 billion and the upper is 6. There is no likely scenario I can see where even the low estimate is not absolutely catastrophic for the whole world, especially considering collapsing populations in europe.