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Challenges and Opportunities for the Wealth Sector in Nigeria 2014

Published: Mar, 2014 | Pages: 58 | Publisher: WealthInsight
Industry: Wealth Management | Report Format: Electronic (PDF)


Synopsis
This report is the result of WealthInsight's extensive research covering the high net worth individual (HNWI) population and wealth management market in Nigeria. The report focuses on HNWI performance between the end of 2007 (the peak before the global financial crisis) and the end of 2012. This enables us to determine how well the country's HNWIs have performed through the crisis.
Summary
This report is a thorough analysis of Nigeria's Wealth Management and Private Banking sector, and the opportunities and challenges that it faces.
Scope
Independent market sizing of Nigeria HNWIs across five wealth bands HNWI volume and wealth trends from 2008 to 2012 HNWI volume and wealth forecasts to 2017 HNWI and UHNWI asset allocations across 13 asset classes Number of UHNWIs in each state and all major cities Fastest growing cities and states for UHNWIs (2008-2012) Insights into the drivers of HNWI wealth
Reason To Buy
The WealthInsight Intelligence Center Database is an unparalleled resource and the leading resource of its kind. Compiled and curated by a team of expert research specialists, the database comprises dossiers on over 60,000 HNWIs from around the world. The Intelligence Center also includes tracking of wealth and liquidity events as they happen and detailed profiles of major private banks, wealth managers and family offices in each market. With the Database as the foundation for our research and analysis, we are able obtain an unsurpassed level of granularity, insight and authority on the HNWI and wealth management universe in each of the countries and regions we cover. Report includes comprehensive forecasts to 2017.
Key Highlights
In 2013, Nigerian HNWIs held 17.2%, equal to US$15 billion, of their wealth outside their home country, which is below the global average of 20-30%. WealthInsight expects foreign asset holdings to value US$19 billion by 2018, accounting for 16.2% of total HNWI assets. In 2013, Europe accounted for 28% of these foreign assets. It was followed by North America with 24.3%, Africa with 23.2%, Asia-Pacific with 13.1%, Latin America with 8%, and the Middle East with 3.5%. During the review period, Nigerian HNWI allocations to North America decreased sharply compared with other regions, from 29.3% in 2009 to 24.3% in 2013. Asia-Pacific and Latin America were the emerging regions in terms of global investments. Over the forecast period, WealthInsight expects HNWIs to increase their levels of investment in Europe to 30.5% of foreign HNWI assets by 2018, with many believing the European economy will flourish in the near future.
 1 Introduction
1.1 Details of this Report
1.2 Definitions
2 Executive Summary
3 Wealth Sector Fundamentals
3.1 Political Background
3.2 Economic Background
3.3 Social Background
3.4 Benchmarking Nigeria's Wealth in Context
3.4.1 Distribution of wealth in Nigeria
3.5 HNWI Volume and Wealth Trends
4 Competitive Landscape of the Wealth Sector
4.1 Competitive Landscape
4.1.1 Private banks
4.1.2 Wealth managers
4.1.3 Family offices
4.1.4 Financial advisors
4.2 Developments in the Nigerian Private Banking Industry
4.3 Wealth Management and the Private Banking Industry
4.4 Nigerian Wealth Management Industry - Clientele Model and Maturity
4.5 Behavioral Mapping of Wealth Management and Private Banking in Nigeria
5 Appendix
5.1 Additional Components of the Nigerian Wealth Sector
5.1.1 Philanthropy
5.1.2 Demand for intergenerational wealth transfer
5.1.3 Availability of human resources
5.2 Tax Regulations
5.3 Regulations Related to Immigration, Investment and Employment
5.4 Key Drivers
5.4.1 NGN to US$ exchange rate
5.4.2 Real GDP growth
5.4.3 Per capita GDP
5.4.4 Domestic market capitalization
5.4.5 Commodity index
5.4.6 Foreign direct investments - inflow and outflow
5.4.7 Inflation
5.4.8 Interest rate
5.4.9 Balance of payments
5.4.10 Government debt
5.4.11 Stock market performance
5.5 Wealth Breakdown
6 About WealthInsight

Table 1: HNWI Wealth Band and Group Definitions
Table 2: Cities in Nigeria, 2013
Table 3: Leading Domestic Private Banks in Nigeria by AuM (US$ Million), 2013
Table 4: Nigerian Wealth Managers, 2013
Table 5: Nigerian Income Tax Bands (NGN), 2013
Table 6: NGN per US$ Exchange Rate, 2009-2018
Table 7: Nigerian Real GDP Growth (%), 2009-2018
Table 8: Nigerian GDP per Capita (US$), 2009-2018
Table 9: Nigerian Domestic Market Capitalization (US$ Billion), 2009-2013
Table 10: Nigerian Commodity Indices, 2009-2018
Table 11: Nigerian Foreign Direct Investments (US$ Billion), 2009-2018
Table 12: Nigerian Inflation Rate (%), 2009-2018
Table 13: Nigerian Interest Rate (%), 2009-2018
Table 14: Nigerian Balance of Payments (US$ Billion), 2009-2013
Table 15: Nigerian Government Debt as a Percentage of GDP (%), 2009-2018
Table 16: Nigerian Stock Market Performance, 2009-2013
Table 17: Nigerian HNWI Wealth vs GDP Ratio (%), 2009-2018
Table 18: Nigeria - Appendix One
Table 19: Nigeria - Appendix Two 



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