Has Oil-Focused Nigeria Forgone a Diversified Economy?

Further to the initiation of these development plans, Nigeria has insured that businesses will now receive generous tax concessions and its automotive industry is beginning to attract numerous international car manufacturers.  Local cement manufacturers have also been encouraged to invest in existing and new factories, ending the country’s reliance on imports.

Nigerian trade and industry minister, Olusegun Aganga stated that with 28.5 million metric tonnes produced in 2013 and more than eight million metric tonnes in excess of domestic demand, the country has now become a net exporter of the building material for the first time.

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