Birds-eye view

• Though diverse, Nigeria’s business landscape and
  the economy remains largely dependent on a few key 
  sectors. In 2024, Nigeria's oil and gas sector has 
  contributed approximately 5.7% to the country's total 
  GDP. Oil and gas remain crucial for Nigeria's revenue, 
  accounting for over 70% of the government’s revenue 
  and roughly 90%of foreign exchange earnings,
  dem demonstrating its continued importance despite the
  sector’s smaller share in overall GDP.
• Access to capital remains a significant challenge for
  businesses in Nigeria, especially for small and 
  medium enterprises (SMEs). SMEs represent 
  approximately 96% of businesses in Nigeria and
  provide about 84% of total employment contributing
  around 48%to the nation's GDP, However, the sector 
  faces significant challenges, particularly in terms of 
  financing, regulatory barriers, and infrastructure 
  constraints
• Employment issues in Nigeria, particularly high
  unemployment ent and underemployment rates, 
  significantly impact the country’s economic stability 
  and growth. The Nigerian economy has struggled to 
  create sufficient jobs to keep pace with population 
  growth. With a population growth rate of around 2.6%, 
  the economy needs to generate at least 3 million new 
  jobs annually to prevent unemployment rates from 
  rising
•  Due to formal employment shortages, the
  inform al sector has become a core part of the 
  Nigerian economy. The sector which generally 
  lacks job security, benefits, and opportunities for 
  skill development accounts for approximately 65% 
  of employment and influences over 50 percent of 
  household income.