Investment Opportunities, Corruption Risks In Nigeria

Law360, New York (May 12, 2014, 7:24 PM EDT) -- On April 6 of this year, Nigerian economists officially announced what the world had long suspected — namely, that Nigeria possessed not only Africa's largest population, but also its largest economy. Nigeria's first GDP rebasing in over 24 years prompted this announcement.

The new GDP figures, totaling $510 billion, represent an almost 89 percent increase over the prior year. Nigeria's GDP has grown at an average rate of 7 percent each year for the past 10 years, and Nigeria's economy is predicted to become one of the world's 15 largest by the year 2050.

Nigeria's Growth, Past and Future

Nigeria's revised...

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