The New Blue Ocean in Africa! A Complete Guide to Developing the Nigerian Market in 2025
Economic Status
Nigeria is the largest economy in Africa, with a GDP of $362.934 billion in 2023. However, the economy is structurally homogeneous, and in recent years, the government has pushed to diversify the economy, prioritizing areas such as agriculture, manufacturing, and the digital economy, which has provided policy support for foreign investment.
Population and Consumption Potential
With a population of about 220 million, the rise of the middle class is driving consumption upgrades, and there is a strong demand for machinery and equipment, electronic products, and food processing equipment.
China-Nigeria Trade Relations
China is Nigeria's top source of imports (22.69%), with bilateral trade valued at US$22.56 billion in 2023, with major exports including machinery and electrical equipment and imports dominated by agricultural products and minerals.
Favorable Policies
100% foreign ownership (except in the oil sector) and free remittance of profits.
Additional tax exemptions for investments in economically disadvantaged areas and 20% tax breaks for infrastructure investments.
Logistics bottleneck
The Port of Lagos is responsible for 70% of imported and exported goods, but customs clearance is complicated and expensive, and the double inspection system often results in months of backlogged cargo. It is advisable to allow sufficient time and choose a reliable freight forwarder.
Industrial Layout
NGLKK CONTAINER LOGISTICS LFZE (N.C.L.L.E) is located in the second phase of Nigeria Lekki Deep Water Port. As the concessionaire of Lekki Port, Nigeria, N.C.L.L.E. has an integrated port and warehouse, which is directly embedded in the port operation process, realizing the seamless integration of “Port - Warehousing - Logistics”, and significantly enhancing the efficiency of cargo turnover. Close proximity to Lekki Port (only 200 meters) reduces transportation links and reduces time and cost risks. Supported by heavy-duty equipment, the facility can meet the needs of oversized cargo handling.
