Synopsis This report is a thorough analysis of Nigeria Wealth Management and Private Banking sector, and the opportunities and challenges that it faces. Summary • 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 2011 and the end of 2015. This enables us to determine how well the country's HNWIs have performed through the crisis. Scope • Independent market sizing of Nigeria HNWIs across five wealth bands • HNWI volume and wealth trends from 2011 to 2015 • HNWI volume and wealth forecasts to 2020 • 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 (2011-2015) • Insights into the drivers of HNWI wealth Reasons To Buy • The Challenges and Opportunities for the Wealth Sector in Nigeria 2016 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. • With the wealth reports 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 2020. Key Highlights • Nigerian HNWIs held 16.8% (US$17.2 billion) of their wealth outside their home country in 2015. • Foreign asset holdings are expected to increase to US$20.1 billion by 2020, accounting for 15.3% of the country’s total HNWI assets. • Europe accounted for 29.4% of Nigerian HNWIs’ foreign assets in 2015. This was followed by Asia-Pacific with 20.5%, North America with 19.6%, Africa with 19.5%, Latin America with 8.8% and the Middle East with 2.2%. • Nigerian HNWI allocations to Asia-Pacific increased rapidly compared with other regions during the review period, rising from 11.9% in 2011 to 20.5% in 2015. • WealthInsight expects HNWIs to increase their level of investment in Asia-Pacific over the forecast period, to reach 26.3% of foreign HNWI assets by 2020.
Table of Contents 1 INTRODUCTION 1.1 Details of this Report 1.2 Definitions 2 EXECUTIVE SUMMARY 3 NIGERIA KEY FACTS 4 DISTRIBUTION OF WEALTH IN NIGERIA 4.1 HNWI Volume and Wealth Trends 5 COMPETITIVE LANDSCAPE 5.1 Domestic Private Banks 5.2 Foreign Private Banks 5.3 Wealth Managers 5.4 Family Offices 6 KEY DRIVERS 6.1 NGN–US$ Exchange Rate 6.2 Real GDP Growth 6.3 Per Capita GDP 6.4 Domestic Market Capitalization 6.5 Commodity Index 6.6 Foreign Direct Investment (FDI) – Inflows and Outflows 6.7 Inflation Rate 6.8 Interest Rate 6.9 Balance of Payments 6.1 Government Debt 6.11 Stock Market Performance 6.12 Wealth Breakdowns 7 ABOUT WEALTHINSIGHT
List of Tables Table 1: HNWI Wealth Band and Group Definitions Table 2: Nigerian Exchange Rate – NGN–US$ Exchange Rate, 2011–2020 Table 3: Nigerian Real GDP Growth (%), 2011–2020 Table 4: Nigerian GDP per Capita (US$), 2011–2020 Table 5: Nigerian Domestic Market Capitalization (US$ Billion), 2011–2015 Table 6: Nigerian Commodity Indices, 2011–2020 Table 7: Nigerian Foreign Direct Investment (US$ Billion), 2011–2020 Table 8: Nigerian Inflation Rate (%), 2011–2020 Table 9: Nigerian Money Market Rate (%), 2011–2020 Table 10: Nigerian Balance of Payments (US$ Billion), 2011–2015 Table 11: Nigerian Government Debt as a Percentage of GDP (%), 2011–2020 Table 12: Nigerian Stock Market Performance (Index), 2011–2015 Table 13: Nigerian HNWI Wealth vs GDP Ratio (%), 2011–2020 Table 14: Nigeria – Appendix One Table 15: Nigeria – Appendix Two List of Figures Figure 1: HNWI Wealth Band Definitions Figure 2: Map of Nigeria Figure 3: Nigerian Asset Price Performance (%), 2011–2015 Figure 4: Nigerian HNWI Performance (US$ Billion and HNWI Volume), 2011–2020 Figure 5: Nigerian vs Global HNWIs (%), 2011–2015 Figure 6: Nigerian Exchange Rate – NGN–US$, 2011–2020 Figure 7: Nigerian Real GDP Growth (%), 2011–2020 Figure 8: Nigerian GDP per Capita (US$), 2011–2020 Figure 9: Nigerian Domestic Market Capitalization (US$ Billion), 2011–2015 Figure 10: Nigerian Commodity Indices, 2011–2020 Figure 11: Nigerian Foreign Direct Investment (US$ Billion), 2011–2020 Figure 12: Nigerian Inflation Rate (%), 2011–2020 Figure 13: Nigerian Money Market Rate (%), 2011–2020 Figure 14: Nigerian Balance of Payments (US$ Billion), 2011–2015 Figure 15: Nigerian Government Debt as a Percentage of GDP (%), 2011–2020 Figure 16: Nigerian Stock Market Performance (Index), 2011–2015 Figure 17: Nigerian HNWI Wealth vs GDP Ratio (%), 2011–2020 Figure 18: Nigerian HNWIs – Volume by Wealth Band, 2011–2020 Figure 19: Nigerian HNWIs – Wealth by Wealth Band (US$ Billion), 2011–2020 Figure 20: Nigerian HNWIs – Wealth per Capita (US$ Million), 2011–2020
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