Nigeria Market Research Data, Page 13-22, “Restructuring or Acculturing of Nigeria 1 by Gregory Ekhator – 2017

This article is strictly on the market research data published in the book “Restructuring or Acculturing of Nigeria 1″, 2017” by Gregory Ekhator, Page 13-22. Nigerian entreprenuers and budding entrepreneurs doing their market research will find the data still useful; albeit it is now 3 years old and the market would have shifted not least to present day factors such as the global pandemic.

In 2017, “Restructuring” was the buzz-word, with little thought for what it
means or the end product.
“Acculturing” (present participle tense of Acculturation) seems what
should be the buzzword. This book will detail many habits that are now
woven into our culture to make “restructuring” without acculturing almost
completely wasteful.

Most Nigerians will recall when they were children, being taught in school
–“ the children are the leaders of tomorrow and Nigeria is a country with
great potential yet to be realised.” That was a good 40 years plus ago, and
it still seems true as said recently in last presidential election social
media commentary.
However, taking stock, there has been some potential manifested, some
manifesting right now, and plenty more yet to be
manifested by us who were the children back then. Although we have
now all grown up; If we dare use the axiom; We are yet to really: “Take the
bull by the horn.”
To paraphrase Ben Hurr, “Where are we now, where are we going, and
how the are we going to get there?”
Where are we now?

Data (July 2017)
Nigeria is named for the Niger River that flows through the West of the
country to the Atlantic Ocean; from a native term “Ni Gir” meaning
“River Gir”
Most populous black nation on earth; meaning any cultural trend in
Nigeria, has potential of affecting all of the world’s black race. The
infectiousness of Nollywood movies even with Caribbean and African
Americans is a shining example. Nigeria is said to be the 3rd biggest movie
industry in the world after Hollywood, and Bollywood.
In addition, as shown in the image, 28% of Forbes’ 40 richest entrepreneurs
are from Nigeria. Nigeria is through third largest English speaking nation in
the world after India and USA and the 8th most populous country in the
world.

Population: 190,632,261, (190.6 million Nigerian citizens)
GDP (PPP):
$1.1 trillion
2.7% growth
4.7% 5-year compound annual growth
$6,108 per capita
Inflation (CPI):
9.0%
FDI Inflow:
$3.1 billion – The highest in Africa in 2013, mainly due to comparatively
large ratio of percentage of population in diaspora, remitting money
home to Nigeria. Actually after Crude oil, the next highest FOREX
earner for Nigeria is FDI
This data is according to the CIA world fact book:
Ethnic groups:
Nigeria, Africa’s most populous country, is composed of more than 250,
some say more than 300 ethnic groups; the most populous and politically
influential are: Hausa and the Fulani 29%, Yoruba 21%, Igbo (Ibo) 18%, Ijaw
10%, Kanuri 4%, Ibibio 3.5%,
Tiv 2.5%
Source: University of Texas Library

It is worthy of note that within any credible reportage of population
distribution in Nigeria, there is a strong political undertone, for instance in
the data here, the Hausa and Fulani are reported as one figure ie 29%, and
to a large extend they can truly be reported as one figure because of their
unity bonds. On the other hand the Edo and Urhobo ethnic groups (even
though they are originally one ethnic group) are not represented in this
ethnicity distribution, most likely because they both don’t stress their unity
nearly as enough as the others. If the Edo + Urhobo had a strong bond,
combined, their population percentage is higher than Ibibio and almost as
much as Kanuri, at 3.95 percent.

This clearly shows one of the hazards of restructuring along intangible
ethnic lines, especially because the motivation for unity between ethnic
groups can be readily manipulated by politicians. The perpetuation of
the entitlement mentality stems mainly from this.

Languages:
English (official), Hausa, Yoruba, Igbo (Ibo), Fulani, over 500 additional
indigenous languages
Religions:
Muslim 50%, Christian 40%, indigenous beliefs 10%

Age structure:
0-14 years: 42.79% (male 40,744,956/female 38,870,303)
15-24 years: 19.48% (male 18,514,466/female 17,729,351)
25-54 years: 30.65% (male 29,259,621/female 27,768,368)
55-64 years: 3.96% (male 3,595,293/female 3,769,986)
65 years and over: 3.12% (male 2,754,040/female 3,047,002) (2016 est.)

Urbanization:
urban population: 49.4% of total population (2017)
rate of urbanization: 4.3% annual rate of change (2015-20 est.)
Major urban areas – population:
Lagos 13.123 million; Kano 3.587 million; Ibadan 3.16 million; ABUJA (capital)
2.44 million; Port Harcourt 2.343 million; Benin City 1.496 million (2015)

HIV/AIDS – adult prevalence rate:
2.9% (2016 est.)
country comparison to the world: 21
HIV/AIDS – people living with HIV/AIDS:
3.2 million (2016 est.)
country comparison to the world: 2
HIV/AIDS – deaths:
160,000 (2016 est.)
country comparison to the world: 1

Literacy
definition: age 15 and over can read and write
total population: 59.6%
male: 69.2%
female: 49.7% (2015 est.)

Citizenship:
citizenship by birth: no
citizenship by descent only: at least one parent must be a citizen of Nigeria
dual citizenship recognized: yes
residency requirement for naturalization: 15 years

Judicial branch:
highest court(s): Supreme Court (consists of the chief justice and 15
justices)
judge selection and term of office: judges appointed by the president on
the recommendation of the National Judicial Council, a 23-member
independent body of federal and state judicial officials; judge
appointments confirmed by the Senate; judges serve until age 70
subordinate courts: Court of Appeal; Federal High Court; High Court of the
Federal Capital Territory; Sharia Court of Appeal of the Federal Capital
Territory; Customary Court of Appeal of the Federal Capital Territory; state
court system similar in structure to federal system

GDP (purchasing power parity):
$1.089 trillion (2016 est.)
$1.108 trillion (2015 est.)
$1.08 trillion (2014 est.)
note: data are in 2016 dollars
GDP – per capita (PPP)
$5,900 (2016 est.)
$6,200 (2015 est.)
$6,200 (2014 est.)
note: data are in 2016 dollars
Gross national saving:
13.1% of GDP (2016 est.)
12.4% of GDP (2015 est.)
16% of GDP (2014 est.)
GDP – composition, by end use:
household consumption: 79%
government consumption: 7.2%
investment in fixed capital: 14.2%
investment in inventories: 0.7%
exports of goods and services: 9%
imports of goods and services: -10.1% (2016 est.)
GDP – composition, by sector of origin:
agriculture: 21.1%
industry: 19.4%
services: 59.5% (2016 est.)

Agriculture – products:
cocoa, peanuts, cotton, palm oil, corn, rice, sorghum, millet, cassava
(manioc, tapioca), yams, rubber; cattle, sheep, goats, pigs; timber; fish

Industries:
crude oil, coal, tin, columbite; rubber products, wood; hides and skins,
textiles, cement and other construction materials, food products, footwear,
chemicals, fertilizer, printing, ceramics, steel

Industrial production growth rate:
-4.7% (2016 est.)
country comparison to the world: 193
Labor force:
58.8 million (2016 est.)
country comparison to the world: 11
Labor force – by occupation:
agriculture: 70
industry: 10
services: 20% (1999 est.)
Unemployment rate:
13.9% (2016 est.)
23.9% (2016 est.)
Note the two percentages are one before recession and the other after
recession.
country comparison to the world: 156
Population below poverty line:
70% (2010 est.)

Exports:
$33.27 billion (2016 est.)
$45.89 billion (2015 est.)
country comparison to the world: 55
Exports – commodities:
petroleum and petroleum products 95%, cocoa, rubber (2012 est.)
Exports – partners:
India 17%, Netherlands 8.9%, Spain 8.5%, Brazil 8.5%, South Africa 5.6%,
France 5.4%, Japan 4.7%, Cote dIvoire 4.3%, Ghana 4.2% (2015)
Imports:
$36.4 billion (2016 est.)
$52.33 billion (2015 est.)
NOTE THE DROP IN IMPORTS, WHICH BALANCES TRADE DEFICIT
country comparison to the world: 56
Imports – commodities:
machinery, chemicals, transport equipment, manufactured goods,
food and live animals
Imports – partners:
China 25.9%, US 6.5%, Netherlands 6.1%, India 4.3% (2015)
Reserves of foreign exchange and gold:
$23.47 billion (31 December 2016 est.)
$29.07 billion (31 December 2015 est.)
country comparison to the world: 56

Communications :: NIGERIA
Telephones – fixed lines: total subscriptions: 187,155 subscriptions per
100 inhabitants: less than 1 (July 2015 est.) country comparison to the
world: 130
Telephones – mobile cellular: total: 150.83 million
subscriptions per 100 inhabitants: 83 (July 2015 est.) country
comparison to the world: 9

Telephone system: general assessment: further expansion and
modernization of the fixed-line telephone network is needed; network
quality remains a problem domestic: fixed-line subscription remains only
about 1 per 100 persons;
Mobile-cellular services growing rapidly, in part responding to the
shortcomings of the fixed-line network; multiple cellular providers
operate nationally with subscription base over 80 per 100 persons
international: country code – 234; landing point for the SAT-3/WASC
fiberoptic
submarine cable that provides connectivity to Europe and Asia;
satellite earth stations – 3 Intelsat (2 Atlantic Ocean and 1 Indian Ocean)
(2015)
Broadcast media: nearly 70 federal government-controlled
national and regional TV stations; all 36 states operate TV stations;
several private TV stations operational; cable and satellite TV subscription
services are available; network of federal government controlled national,
regional, and state radio stations; roughly 40 state government-owned
radio stations typically carry their own programs except for news
broadcasts; about 20 private radio stations;
transmissions of international broadcasters are available (2007)
Internet country code: .ng Internet users: total: 25.7% (July 2016 est.)
percent of population: 47,759,904 (July 2015 est.) country comparison to
the world: 9

Success and solution/opportunity facts ~ Data on economic freedom
source: http://www.heritage.org/index/…
As of July 2017 there are signs of growth out of the recession but not yet
completely out of it http://www.focus-economics.com…
Nigeria is the least overall taxed country in the world in the free
economy bracket
Nigeria has the highest freedom of labour in the
world http://www.heritage.org/index/…
Nigeria is now exporting more than she is importing
goods http://country.eiu.com/nigeria
In football monthly world ranking: Nigeria ranks 39 in July 2017
THE ABOVE FOUR PLUS THE MOBILE TELEPHONY AND INTERNET
PROLIFERATION DEPICTS A BUMPER HARVEST OF OPPORTUNITIES, FOR THOSE
INVESTED IN THE LONG-TERM.

Failures and real problem/Opportunity facts
Rated 205th growth rate of -1.70 as economy contracts due to recession as
well fighting corruption to recoup funds from the
corrupt. https://www.cia.gov/library/pu…
The Corruption Perceptions Index (CPI) – Rated 136 out of 176 countries and
scored 28.0
The KOF Index of Globalization measures the economic, social, and
political dimensions of globalization in each country. Rated 103 out of 192
with a score 52.32
Management Index (Political Leadership Towards Democracy and a
Market Economy) . Rated 93rd of 129 countries with a score 4.06
The Networked Readiness Index (NRI) – 119 out of 139 rated countries with
an index of 3.15. The highest was Singapore with 6.04.
(NRI) evaluates how conducive a country is to the development of a
network of information and communication technologies
https://globaledge.msu.edu/cou…
From the above success and failures, myriad of opportunities can be
gleaned by searching entrepreneurs. All the data on Nigeria’s failure,
points to lack of competent manpower both in policy making and the
technocrats implementing the policies. Especially the lack of capacity in
industry to produce from seized opportunities in the market. A KEY
component for technological development is ELECTRICITY SUPPLY. This has
been a major huddle in the past, however in 2017 about 75% of Nigeria
reluctantly agree there has been a little improvement in generation and
distribution of electric power to them.
The I.T sector which is classified as the Service sector is still one of the fastest
growing sectors, and once Nigeria emerges from the recession
, the bounce should be at least double the current performance as
predicted by the Economist for 2018.
Nigeria is still referred to as potentially one of the richest countries in the
world, and for very good reason. Apart from the mentioned
reasons above; the uniqueness of Nigeria, the make up, and
constituent natural resources makes Nigeria potentially the envy of the
world. However like most good things in this world, it comes with
responsibility and failure to have this “Responsibility” translates what is
a blessing to be instead a curse.
For every development and .progress made by Nigeria, she is hounded by
how much more she could have accomplished if not for her
intractable problems and errors that she seemingly can’t or refuses to learn
from them and in-turn solve them.
However, to be cautious and not to throw away the proverbial “baby with
the bath-water”, let us count Nigeria’s blessings, progress so far, while also
doing analysis of how much more Nigerians could have done and why it
wasn’t done then and perhaps not yet doing it now?
Which leads us to study the history of Nigeria and the primordial forces
raging beneath her belly.

This above is from chapter 2 of the book written in 2017, however as of today 3 years later in 2021 Nigeria is now 6th in the world in terms of internet penetration mainly via mobile devices; more than Japan and each of all the European countries.

~ Gregory Ekhator

Nigeria Market Research Data, Page 13-22, “Restructuring or Acculturing of Nigeria 1 by Gregory Ekhator – 2017

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