Nigerian millionaires will climb by 47 per cent in the next four years, this is according to a report by New World Wealth.
The number of Nigerians with investable assets of at least 1 million US dollars will jump 23 thousand by 2017. PHOTO: Getty Images

The report that was released earlier this week also said that the growth in high net worth individuals is linked to the country’s GDP, the local equity market and the local real estate amongst other factors.

“We look at a number of factors, we look at trends in the market, the historical growth factors, we look at GDP growth going forward, the forecast on that and we try make estimates on how we think the property market and the real estate market is going to perform,” Andrew Amoils, Analyst at New World Wealth told CNBC Africa.

The report also suggested that the number of Nigerians with investable assets of at least 1 million US dollars will jump 23 thousand by 2017. Amoils believes that the key is historical trend as a country that has grown quite strongly will continue to do assuming it starts from a relatively low base as Nigeria does.

Nigerian millionaires set to grow
The number of millionaires in Nigeria will climb 47% in the next four years. That's according to analysts at New World Wealth.

“We look at wealth according to the number of people that have made one million dollars from a sector so it doesn’t necessarily correlate to the growth of that sector. For instance, there’s a lot of countries like Vietnam which hasn’t had strong index real estate growth in the last six years, but the number of people who have made money from the real estate has been astronomical,” he explained.

Nigeria’s economy has expanded on average of 8.2 per cent annually since 1999 and has the third highest number of millionaires on the continent after South Africa and Egypt.

The report also found that about 26 per cent of Nigeria’s 82 billion dollars wealth was offshore last year, with the bulk of the private banking funds deposited in the UK, Switzerland and the Channel Islands.

“That trend is common globally, it is a relatively high percentage for an African country obviously, there’s a lot of Nigerian people that have money in the UK and Switzerland, and property in those countries,” he said.

Amoils believes that the under developed private banking in Nigeria makes most high net worth individuals go offshore for investment banking with big international banks.


http://www.cnbcafrica.com/news/western-africa/2014/03/07/nigerian-millionaires-on-the-rise/

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I wannna be a billionaire.... so freaking bad

Nigeria is rising.

wow!

I will soon join their league

AMEN!!!

Hmm dats gud

Hmm...

I wil b among dem in Jesus name(amen)
God wil also bless me with soundhealth to enjoy it 2geda with my family.




1st page tins sha**rollseyes**

I just dont want to be rich, i want to change lives for better. I want to live a life of meaning. So help me God

Nawa ooo money dey Naija ooo...and errybody go dey shout no money we are just managing

Moving with the trend... I want to also grow 23% in all aspect, financially and other area too.

I Love NIGERIA.

I will make the List one day infact very soon...My name shall be in d Guiness Book of Record+Forbes!

May Thunder Fire poverty

Clap for Nigeria

The rich are getting richer and the poor are getting poorer.
Counter Thread ; Nigerians living below a dollar on the rise .
Nigerians livivg below a dollar will climb by 47 per cent in the next four years, this is according to a report by New World Wealth.
The rich are getting richer and the poor are getting poorer.

Seun thi space is for sale


€24 million leasing for a year

Who is talking Millions, we are talking Billions here

I am among dem iJN

iceberylin: ...l

free2ryhme: Booked

Bank450: .

Horlawoomey: T

Are u guys members of Nairaland?

Nairaland = Space Bookers Association of Nairaland

But with all dis millionarers wen we get we still dey tins still dey like dis... Any way I will join dem soon...

mostly de polythiefcians

i am going to be the next on the list by next year. Amen.

true

How I abandoned my husband,3 children for armed robbery-Suspect

27-year-old Victoria and her partner specialised in robbing unsuspecting passengers who board commercial cab along Badagry-Mile 2 route.She narrated her story to www..com

“I was arrested last Wednesday at Dakar Hotel in Seme where I used to work as a prostitute.I am from Edo State. I came to Lagos last February to look for greener pastures when my husband was constantly beating me. We were married for eight years.I abandoned my husband and three children and came to Lagos with the intention of living under the bridge.

Continue reading: http://www..com/2014/09/woman-abandone-husband-and-3-children_17.html

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