Africa Frontier Review helps you to explore the rising players, sectors, and trends shaping the future of Africa.
Nigeria's government aims to diversify its economy and reduce the country's dependence on oil revenue.
The oil and gas sector is a major source of foreign exchange for Nigeria. The sector accounted for 94.5% of export revenue and around 70% of government revenue in 2016.
Nigeria was one of the major recipients of FDI in Africa. However, the oil-dependent economy has lost its attractiveness as a FDI destination in recent years.