Nigeria is dubbed “Africa’s India” for its demographic stats. If today the population if “only” 173 million, making it the largest country in Africa, tomorrow, it should reach half a billion (2050) and likely a billion by the turn of next century.
That is, if enough job opportunities keep the country united, which is all but certain. Rampant corruption, ethnic clashes and a young population with very little economic perspective impede the development of Nigeria.
It’s all the more a pity as the country has amazing resources.
It’s Africa’s cultural capital, thanks to Nollywood, with 50 new movies produced every single week (and exported across Africa).
It’s a hub for social business with some ventures solving local issues while making money, such as Wecyclers.
And it’s already the playground of Rocket Internet, who is about to trust all the front seats of the e-commerce industry, from p2p auctions to hotel bookings.
The population in the urban centers is English-speaking, which makes it a very interesting market.
But, again, it’s hard to go to Nigeria and to come back full of optimism.