week 1

• Industry


  A group of companies that are related based on their primary business activities and operate in the same segment of the economy or share of similar business type
• In the past few decades, Nigeria has grown and blossomed economically as a country
• Nigeria has one of the most growing economies in West Africa
• One of the reasons for Nigeria's economic growth is the sheer amount of Nigerian industries
• Major types of industries in Nigeria

  • Agriculture
  • Banking and Finance
  • Construction/Real estate
  • Consumer goods
  • Healthcare
  • Industrial goods
  • Information and communication technology (ICT)
  • Natural resources
  • Oil and gas
  • Services
  • Utilities
• Agriculture industry in Nigeria

  • Nigerian soil is very fertile
  • Capable of feeding several countries
  • Includes crop production, livestock, hunting (game), fishing and trapping
• Banking and Finance industry in Nigeria

  • Comprises banks and non-bank financial institutions
  • Includes finance companies, primary mortgage institutions, community banks, discount houses, insurance companies, forex bureaux de change
• Construction/Real estate industry in Nigeria


  • Covers everything that concerns real estate, from site preparation and construction to property management
  • Includes buildings, roads, parking lots, garages and bridges
• Consumer goods industry in Nigeria

  • Responsible for manufacturing final goods (personal use products)
  • Includes manufacturers of cars and car parts, beverages (both alcoholic and non-alcoholic), personal electronics, foods, tobacco, household products and durables, textiles and clothes, as well as toys and games
• Healthcare industry in Nigeria

  • Companies aimed at providing all sorts of healthcare services, including actual healthcare, medicine, medical equipment and supplies
• Industrial goods industry in Nigeria


  • Provides other industries with the necessary materials, tools and electronics
  • Main products are capital goods, such as machinery, electrical equipment, engineering, building products and even defense and aerospace
• Information and communication technology (ICT) industry in Nigeria

  • Responsible for providing everyone with electronics, software, Internet and telecommunication services
  • Provides its services and goods both to other industries and to consumers directly
• Natural resources industry in Nigeria

  • Companies deal with natural resources (excluding those that can be turned into fuel)
  • Some companies obtain the resources, while others work on processing and refining said resources
  • Subsectors include chemicals, forest products/paper, metals and stones (including precious ones) and mining services
• Oil and gas industry in Nigeria


  • Deals with all sorts of things that concern coal, petroleum, gas and oil
  • Includes extraction, refinement, distribution and marketing of the oil and gas products and by-products
  • Also includes companies that provide drilling equipment and construction services
• Services industry in Nigeria


  • Includes retail, transportation, delivery, advertisement, entertainment/music, hospitality, tourism, waste management and other services
  • Companies provide services to individuals, businesses, government organisations and other industries
• Utilities industry in Nigeria


  • Manages the supply of electricity, pipe borne water, and many other social amenities products that are useful to the masses
  • Controls the quality of the provided services
• Roles/benefits of industries to the Nigerian economy

  • Large scale production
  • Urbanisation
  • More productivity in less time
  • Rise in Gross Domestic Product (GDP)
  • Promotion of trade
  • Employment opportunities
  • More goods/services
  • Cheap cost of production
  • Increased revenue
  • Diversification of economy