Nigeria

Nigerian Stock Exchange

NSE
  • Third largest stock exchange in Africa
  • Total market cap: ~ USD 46 billion with 198 listed securities.
  • Open to public trading since 1991
Nigeria Macro-economic Overview:
  • Population:                   162 million[1] with workforce of 83 million
  • GDP (current USD):     USD 60 billion[2]
  • GDP (PPP):                   USD 410 billion (incl. black market, >USD 500 billion)
  • Govt budget:                USD  billion
  • Deficit / Surplus:          -2 % GDP
  • 15th largest petroleum exporter globally, however there are no refineries so it is a major importer of refined petrochemical products.  The effect of oil prices on the economy is usually overestimated.  Oil exports account for some 15% of GDP.  Due to the size of the population and economy, there are growing financial, manufacturing, service, communications and entertainment sectors.  Its manufacturing sector provides many basis goods to the rest of West Africa
  • Industry accounts for just under 50% of GDP
  • Agriculture accounts for approximately 27% of GDP
  • Services for 25% 
Total Market capitalization as a proportion of GDP: ~ 10% – this is extremely low  by international comparisons, and reflects an undeveloped economy with limited penetration of equity and debt capital markets
Macro risks for investors: 1. heavy reliance on agriculture, including weather and commodity prices

2. poor infrastructure and macro-economic shocks

3. inadequate and inefficient energy supply

4. vulnerability to climate change e.g. flooding

5. religious civil war
Currency NGN http://www.google.com/finance?chdnp=1&chdd=1&chds=1&chdv=1&chvs=Linear&chdeh=0&chfdeh=0&chdet=1343285356531&chddm=2114311&q=CURRENCY:USDNGN&ntsp=0

 

 

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