A Market Intelligence snapshot for this territory covering strengths and weaknesses of the economy, a summary of the insurance market and a list of the most costly natural disasters.

NIGERIA

COUNTRY SNAPSHOT

A Market Intelligence snapshot for this territory covering strengths and weaknesses of the economy, a summary of the insurance market and a list of the most costly natural disasters.

• Strengths and Weaknesses
• Insurance Market
• Disasters

STRENGTHS:

• Nigeria actively seeks foreign investment amid ongoing privatisation.
• Expropriation risks are low.
• Judicial reform has been identified as an urgent priority.
• The government is trying to diversify the economy away from its reliance on oil.

WEAKNESSES: 

• Corruption is a problem at all levels of government and society. Anti-corruption measures are inconsistently applied.
• Legal processes are expensive and slow.
• The tax system is complex and time-consuming.
• There are high levels of environmental activism against the oil sector.

Source: IHS Global Insight, June 2014; www.ihs.com

COUNTRY PROFILE

Country Profiles provides individual summaries for Lloyd’s key territories. These profiles contain factsheets on the economy, insurance market and Lloyd’s business.

Nigeria Country Profile (May-2014)

CLASS REVIEW

Class Review Lite is Lloyd’s newest report that offers benchmarking data analysis comparing Lloyd’s business with its competitors in key territories, broken down by specialty class of business.

For managing agents:

Nigeria Class Review Lite (2014)

For brokers:

Nigeria Class Review Lite (2014)