Business Opportunities in Nigeria: Preparation of the business delegation in Lagos
The business opportunities of the Nigerian market were presented on Wednesday, 26th September of 2018, at the Doing Business Event, organized by SEV, with the participation of over 90 companies.
The event took place in view of the business delegation organized by SEV, ACCI, the Greek-Nigerian Chamber of Commerce and Technology and SEVE, with the support of the Hellenic Foreign Ministry and the Embassy of Nigeria in Greece, in Lagos, 5-9 November 2018.
Nigeria, a country with immense unexploited business potential, is commonly known as the giant of Africa. With more than 180 million people, it is the most populous country in Africa and the largest African economy. It is currently the 27th largest economy in the world.
Nigeria’ economy is based on its rich natural resources, traditional agriculture and the trade sector. A Euler Hermes index shows that Nigeria has the best Consumption Potential, driven by urban population growth and good internet access. Moreover, urbanization could support Nigeria’s effort to capitalize on its infrastructure potential, as the gap between basic and full access is among the widest in the continent.
During his welcome speech, the Vice Chairman of SEV, Mr. Konstantinos Bitsios, stated that “the trade balance between Greece and Nigeria is negative for our country, with the volume of trade moving at relatively low levels. However, Nigeria has recently diversified its economy. This can help Greek companies, from the sectors of construction, building materials, energy and ICT, to penetrate the Nigerian market. Partnerships can also be created on energy efficiency, renewable energy, water treatment and environmental protection”.
Welcome speeches were also delivered by Mr. Quick (Deputy Foreign Minister), Nikos Mr. Vasileiou (Member of the Executive Board of ACCI), Mr. Yamakis (President of the Greek-Nigerian Chamber of Commerce and Technology) and Mr. Ajadi (Chargé d’ Affaires En-Titre of the Embassy of Nigeria in Greece).
Economic data and information on the business opportunities of the Nigerian market were provided by Mr. Economakis (Executive Vice-Chairman & CEO, A.G. Leventis Nigeria Plc). In the end, senior executives of A.G. Leventis (Nigeria), Grantex and Star Trading Company Ltd. shared with the audience their experiences from the Nigerian market.
