Top 10 Industries in Nigeria

Haven’t decided on a college major yet? If you’re a Nigerian who would like to know what career opportunities will skyrocket in your home country over the next few years, then take a look at this compilation of fastest-growing industries in Nigeria!

Information and Communications Technology

The Information and Communications (ICT) industry in Nigeria is comprised of companies such as MTN, GLO, Airtel, and 9mobile. Due to these telecommunication magnates, Nigerians are able to enjoy making calls, texts, and using data services to browse the internet through their various gadgets.

With the rise of the digital revolution, more Nigerians are expected to purchase more mobile phones, laptops, and desktops for work, learning, and entertainment. In effect, ICT experts shall be more in demand in the coming years.

Banking

Currently controlled by the Central Bank of Nigeria, the Nigerian banking industry facilitates local and international trade. These, in turn, boosts the country’s further economic development. Today, the sector heavily searches for more people in finance to accelerate results.

Healthcare

The demand in healthcare is parallel to the pace of medical advances. Furthermore,  it is the fastest growing industry worldwide, expected to add the most jobs in the next 10 years. Especially in the middle of the global health crisis brought about by COVID-19, the need for healthcare workers is steady, if not, increasing.

Utility

The utility sector refers to the power and water providers in Nigeria. All electrical DISCOS and water corporations are deemed essential to the survival not just of the people, but the functionality of other sectors and industries as well.

Consumer Goods

Consumer goods is a major industry in the Nigerian economy. It is responsible for the manufacturing of products used by consumers.

Under this sector, manufacturing and pharmaceutical companies which produce beauty products, dishes, bulbs, batteries, beverages, and medicines are included.

Oil and Gas

The oil and gas sector is one of Nigeria’s major business backbone. In fact, it generates 80% of the country’s revenue and is considered the main source of Nigeria’s wealth.

Therefore, it goes without saying that the country shall continue to invest in more skilled workers and managers to improve this sector.

Entertainment

The entertainment industry is divided into two sectors: the film industry (also referred to as Nollywood) and the music industry.

With technological advancements giving rise to accessible streaming platforms and other innovations, entertainment is a continuous on-demand resource.

Agriculture

Nigeria is one of the major producers of food in the African continent as is even ranked sixth worldwide. Crops such as corn, cassava, cocoa, millet, peanuts, palm oil, yams, rice, and sorghum help feed the country. Agriculture also a major revenue-generating sector since the products are being exported abroad on a regular basis. 

However, the industry is more predominant in rural areas of the country.

Construction

Companies such as Julius Berger, RCC, and Dormalong take charge of structural improvements around the country. Since physical developments are long-term projects that yield even longer investments, companies invest in local talent to help build their vision and turn it into reality.

Hospitality and Tourism

The hospitality and tourism industry contributes an estimated 10% to the country’s gross domestic product (GDP). Nigeria as a tourist destination is a constant work in progress. Long term plans are being laid out in order to develop the country’s tourism economy. This, in turn, means that Nigeria is investing in more people from the sector to help expedite the process.

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