Nigeria

By 2050, the UN estimates that Nigeria's population will surpass that of the US, at which point it will become the third most-populous nation in the world. Nigeria is already the country in Africa with the most people, at over 200 million. With a GDP of $476 billion (as of 2019), Nigeria is also the largest economy in Africa. Although it is grappling with extreme poverty and an active terrorist insurgency in its north (since 2009), Nigeria remains a bastion of hope and potential. A 2018 Gates Foundation survey was the latest of many polls to find that over 90% of Nigerians feel "optimistic about their future." While the sustained and modest growth of the Nigerian manufacturing and service sectors in 2019 is encouraging, perhaps the country's greatest asset is its rapid adoption of information technology. Approximately 70% of Nigerians are now online, which represents the highest number of internet users in Africa. Interestingly, Nigerians access the internet primarily via their mobile devices (rather than through a personal computer). As a result, the smartphone market in Nigeria is projected to "at least triple" by 2025. Due to these developments, Nigeria is quickly transforming into a leading hub for startups and e-commerce—which makes it an intriguing possibility for foreign firms looking to enter the West African market. Given its burgeoning technological infrastructure and its English-speaking population, there is a chance that Nigeria may evolve into a player in the business process outsourcing industry as well. Since Nigeria's average age is 18 and only 5% of its people are over the age of 60, the coronavirus (which tends to affect the elderly and those with comorbidities) has had a relatively light impact on Nigeria thus far (compared to other countries with older populations). Accordingly, Nigeria's economy has been reopening in phases since June 2020.

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