Strengths

1. Government support for the private sector

as the main engine of growth;
2. Availability of UAC(Gala, Big, etc.),
Tantalizers, etc. as already well developed
culture;
3. Availability of Cows;
4. Diversifying economic and export sector;
5. Reducing Overreliance on imports;
6. Availability of credit for business
enterprises via securities and bonds;
7.
8.
9.
10.
11.
12.

13.

14.
15.
16.
17.
18.
19.
20.
21.

9. Credible institutions to control

corruption and economic crime;
11. Preferential Government procurement
for local investors;
UAC etc. is identified as recession resistant
business;
Well-developed franchises;
Favorable cost of utilities especially
telephone, electricity, water and transport;
. Appreciable provision of infrastructure in
the areas of transport, communications,
energy generation and water supply;
Optimistic outlook to Commonwealth to
overcome Difficulties in achieving required
product quality;
Strong Banking and Financial Sector;
Easy Provision of Medium and Long-Term
Loans;
Controlled Money Supply;
Fastest Growing Oil and Gas as well as
Telecommunication Sector;
Many Investment Opportunities for the
Local Entrepreneurs and Foreign Investors;
Availability of Young, Active and Mobile
Labor Force;
Great Potentials for Future Growth and
Investment;
Increased Competitiveness and
Profitability in the Petroleum Market
Globally;

Opportunities
1. Large potential market - within Nigeria and
West Africa;
2.

Potential to export products;

3.

Quick win, palliative in face of increasing

hardship;

Weaknesses
1. Lack of Sound economic
management;
2. Lack of political stability;
3. Exogenous shock in foreign
exchange earnings;
4. Greatly devalued naira;
5. Low modernization of ranches and
agricultural value chain industries;
6. Under developed entrepreneurs;
Lack of Power Supply, Road
Networks, Security Setups and Other
Infrastructure
7. Lack of Finance and Capital
Resources;
8. Lack of Information System, New
Technology, and Scientific Base;
9. Inability to Diversify its Markets;
10. Inadequate Internal Resources and
Lack of Managerial Capabilities and
Leadership Skills in its Business
Environment;
11.
12.

Threats
1. Fragile global commodity (oil)
market crashing budget
benchmark prices by the day;
2.

High quality and competitively

priced imports, more especially from
Asia;

4.

Opportunity for states of Nigeria to involve

themselves in Internally Generated Revenue
enhancing activities;

5.

Opportunity to leverage economic activities

well over the vicious cycle level;

Many Opportunities Available in the Banking,

Taxation, Mining, Banking and Finance, and
Other Sectors;
7. High Population Density creates High Demand
for Products and Services;
8. Economic and Political Improvements create
More Opportunities and Attracts Investors;
9. Petroleum Industry, Courier Services and Oil
Sector Provides Employment Opportunities to
Locals and Foreigners;
10. Opportunities of Outsourcing, Good Bilateral
Relations, and More Availability of Ideas;
11. Supplier Relationships, Cross-Country
Trading, and Inter-Firm Linkages can give
Opportunities of Learning and Improvements
to a Country like Nigeria;
12. More Opportunities for Diversification and
Ultimately, Progressing Economy;
13.

3.

Political and economic instability in

the region;

4.

Stringent standards and quality

requirements in world market;

5.

Small globally uncompetitive

domestic private sector;

6.

Increasing Crimes, Frauds, Scams,

and Corruption;
Threat of Import Substitution Effect
to the Local Markets;
Increasing Competitors in the Local
Markets and Tougher Competition
Globally;
Lack of Funds, Higher Costs of Doing
Business, Higher Opportunity Costs,
and Lower Economies of scale while
Opting for Globalization;

6.

7.
8.

9.