Wealth in Nigeria: The Future of Nigerian HNWIs

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Research and Markets

06 Mar, 2014, 16:55 GMT

DUBLIN, Mar. 06, 2014 /PRNewswire/ --Research and Markets (http://www.researchandmarkets.com/research/fvmpbj/wealth_in) has announced the addition of the "Wealth in Nigeria: The Future of Nigerian HNWIs" report to their offering.

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This report provides a comprehensive review of the wealth sector in Nigeria, including HNWI trends, wealth management trends and luxury trends in the country.

Scope:

  • Independent market sizing of local HNWIs across five wealth bands.
  • HNWI volume, wealth and allocation trends from 2007 to 2013 (the review period).
  • HNWI volume, wealth and allocation forecasts to 2017.
  • HNWI and UHNWI asset allocations across 16 asset classes.
  • Details on offshore funds and where they are held.
  • Demographics including age, city and sector breakdowns of HNWIs.
  • Size of local wealth management industry.
  • Largest domestic private banks by AuM.
  • Detailed wealth management and family office information.
  • Review of luxury and collectables industry in country.
  • Insights into the drivers of HNWI wealth.

Key Highlights

  • Nigeria has the 3rd highest number of HNWIs in Africa. In 2013, there were 15,700 HNWIs in Nigeria, with a combined wealth of US$82 billion, accounting for roughly 36% of Nigeria's total individual wealth (US$227 billion).
  • Nigerian HNWIs outperformed the worldwide HNWI average during the review period, with Nigerian HNWI numbers increasing by 44% whilst worldwide HNWI volumes declined by 0.3%.
  • The rise in US dollar based HNWI wealth occurred despite a significant 25% depreciation of the naira against the US dollar during the review period.
  • HNWI growth was positively influenced by rising commodity prices and an increase in new business formation, particularly in telecoms sector.
  • Growth in HNWI wealth and volumes will be solid over the forecast period as more new businesses are developed within the country.
  • Over the four year forecast period, the number of Nigeria's HNWIs is forecast to grow by 47%, to reach 23,000 in 2017. HNWI wealth will again see a slightly smaller percentage increase, growing by 42% to reach US$117 billion in 2017.


Key Topics Covered:

TABLE OF CONTENTS

1 Introduction

2 Executive Summary

3 Wealth Sector Fundamentals

4 Findings from the New World Wealth HNWI Database

5 Analysis of Nigerian HNWI investments

6 The Wealth Sector in Nigeria

7 Luxury Sector in Nigeria

8 Appendix

9 About New World Wealth

Companies Mentioned:

  • Barclays (ABSA Wealth)
  • Citibank
  • Credit Suisse
  • Fidelity Bank
  • First Bank
  • GT Bank
  • Hugo Boss
  • Porsche
  • Stanbic IBTC Bank
  • Standard Chartered
  • UBS
  • United Bank of Africa
  • Zegna

For more information visit http://www.researchandmarkets.com/research/fvmpbj/wealth_in

Media Contact: Laura Wood , +353-1-481-1716, press@researchandmarkets.net