UBM TARGETS OPPORTUNITIES IN NIGERIA'S ECONOMY

UBM Montgomery West Africa Plc has pinpointed Nigeria as a strategic West Africa and global trade destination, saying that it plans to tap into the opportunities inherent in the country.

Speaking at a briefing in Lagos, heralding the unveiling of UBM Montgomery West Africa 2012 projects and its forthcoming trade exhibitions, Managing Director, Montgomery Worldwide, Mr Damion Angus said Nigeria, as one of the developed economies in Africa and one of the fastest growing in the world, has no better time to be considered as a key business destination than now.

Angus stated that the country is rich in economic potential and ready for the global expertise which support and accelerate its continued growth.

Quoting a research from World Bank , he said, 'Nigeria has really reached middle income status, with its abundant supply of natural resources, and well-developed financial, legal, communications, transport sectors, as well as a stock exchange which is the second largest in Africa'.

He noted that the country is the next biggest thing to hit the global markets, as a result of its advanced telecommunications sector, a steadily increasing GDP growth year-on-year, as well as a country that has been ranked the 12th largest producer of petroleum worldwide.

'Having recognized the expansion and diversification of Nigeria economy as well as the need for a vehicle to bring the world's business to Nigeria, UBM Montgomery West Africa has expanded it's portfolio of events to include three world-leading expos: ICT West Africa, Afribuild West Africa and PROPAK West Africa', he said.

Lamenting on the untapped resources of the country, he pointed that there are arrays of unexploited mineral resources, ranging from natural gas, coal and iron ore.

He said, 'its agricultural sector employs 60 per cent of the population, and its growing manufacturing industry has attracted foreign motor manufacturers'.