Nigeria’s High Networth Individual (HNWI) Population hit 20,000 people in 2016. According to research by Omololu Capital, there were 15,700 HNWIs in Nigeria in 2013 and this number has grown to 20,000 people despite a significant depreciation of the exchange rate of the Nigerian Naira (local currency) against the US Dollar.

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Nigeria has the 3rd highest number of HNWIs in Africa with a combined wealth of US$94 billion, accounting for roughly 41% of Nigeria’s total individual wealth (US$227 billion).

By comparing wealth pre-2012 during the global financial crises and post-2012, Nigerian HNWIs outperformed the worldwide HNWI average SINCE 2009 with Nigerian HNWI numbers increasing by 44% whilst worldwide HNWI volumes declined by 0.3% over the same period.

The rise in US dollar based HNWI wealth in Nigeria occurred despite a significant depreciation of the naira against the US dollar during the review period. Over the period, HNWI growth was positively influenced by rising commodity prices and an increase in new business formation, particularly in telecoms sector.

Over the next 4 years (2017-2020), it is expected that real estate investments and new business formations will lead to growth of Nigeria’s HNWIs by 35%, to reach 30,000 in 2020. HNWI wealth will again see a slightly smaller percentage increase, growing by 42% to reach US$117 billion in 2017.

Real estate was the largest asset class for Nigerian HNWIs in 2015, accounting for 25.4% of total HNWI assets. This was followed by equities with 17.6%, cash and deposits with 17.3%, business interests with 15%, fixed-income with 14.7% and alternatives with 9.9%.

In terms of asset class growth, equities and fixed income recorded the highest growth during the review period, at respective rates of 56.3%, 52% and 26.7%.

High Networth Individual Wealth Forecasts

Due to foreign exchange risks many Nigerian HNWIs invest in properties in London & Dubai. However, there is a gradual shift towards investing in real estate assets within Nigeria.

One of the reasons for this is increasing transparency in the real estate sector. Afriscaper offers pre-vetted real estate & infrastructure projects thereby enabling people make better real estate investment decisions.

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Investing In African Real Estate & Infrastructure

Afriscaper is an online marketplace for real estate investing and allows the pooling of funds from multiple people to foster direct investment in specific real estate deals.

On the Afriscaper platform, with as little as $1,000, investors can invest in lucrative real estate deals such as malls, commercial residential estate, office building, industrial estate, self-storage, event venue, retail or hospitality in emerging markets.

Immediate action steps you should take: 

  1. View Latest Real Estate & Infrastructure Deals In Africa
  2. Sign up on the Afriscaper platform. It’s free and you’re not obligated to invest until you find a deal you are comfortable with.

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