Nigeria’s growth market in numbers
The first session in Business Sweden’s Nigeria Market Intelligence Series highlighted four figures that help frame the market:
- 260 million+ population by 2030
Nigeria’s population is expected to exceed this level, increasing demand for infrastructure, healthcare, manufacturing, energy, logistics and digital services - 6 of 10 African unicorns
Nigeria is home to six of Africa’s ten unicorns, underlining the scale of the country’s technology ecosystem - 90 per cent investment outlook
Swedish companies surveyed in Nigeria plan to maintain or increase investment over the next 12 months - 72 per cent market recommendation
Respondents believe more Swedish companies should enter Nigeria within the next three years
Where Swedish companies can engage
Nigeria’s opportunity extends beyond the size of its consumer market. Rising demand, economic reforms, and increased investment are creating opportunities across energy, transport and logistics, digital connectivity, healthcare, industrial solutions, manufacturing, agribusiness, and sustainability.
The webinar highlighted several indicators of this momentum. Foreign direct investment increased from USD 1.6 billion in 2024 to USD 4 billion in 2025, while government capital expenditure rose from ₦5.4 trillion in 2022 to ₦32.3 trillion in 2026. Together, these developments point to growing activity in infrastructure and other priority sectors.
Nigeria should not be viewed as a single market. Opportunities vary significantly by state, sector, and partner landscape, making it important to assess where demand, funding, and procurement pathways are most credible. The webinar highlighted projects in port modernisation, electric waterways, and fibre expansion as examples of areas where Swedish companies may find opportunities to engage.
Preparation is critical
Nigeria remains a complex market. The webinar highlighted foreign-exchange volatility, financing constraints, regulatory complexity and price sensitivity. A standard market-entry model is unlikely to be enough. Companies need a locally adapted value proposition, credible partners, a clear stakeholder map and realistic assumptions for pricing, imports and investment.
How Business Sweden supports Swedish companies
Business Sweden helps Swedish companies validate opportunities, understand stakeholder ecosystems, identify credible local partners, assess procurement pathways and develop realistic market-entry strategies. Support can also extend to establishment and operational activities in Nigeria.
Discuss opportunities in Nigeria
To discuss opportunities in Nigeria and how Business Sweden can support your company, contact lagos@business-sweden.se.
Watch the webinar recording
Watch Nigeria’s Next Growth Chapter for the full discussion.
