The Nigerian economy is a mixed and middle-income economy and emerging market, which is gradually developing and expanding in the financial, services, manufacturing, mining, communications and technology, and entertainment sectors. Nigeria is globally ranked the 27th-largest economy concerning the nominal GDP, and the 24th-largest concerning the purchasing power parity. Industries here mainly include oil mining, service, transport and tourism, and energy sectors. Out of these, the petroleum sector is the one the government there largely relies on. However, it forms a small part of the country's all-in-all economy. The good part is that the country has the widest economy in Africa. In 2013, the country's upsurging manufacturing field became the largest on the continent. A notable proportion of goods and services are produced by the country for its neighboring West African nations. In 2019, the debt to GDP ratio turned out to be 16.075%. The minimal GDP growth rate in the first quarter of 2021 was largely comparable to the 12.01% growth as recorded in the Q1 of 2020 alongside the 10.07% growth recorded in the previous quarter. The GDP rate will keep on shooting even higher in the coming years. With that being said, as per the GDP report published by Citigroup in February 2011, Nigeria is expected to have the highest average GDP growth globally between 2010 and 2050. Nigeria is currently one of the 11 Global Growth Generators from the African continent.
Enterprise Resource Planning in Nigeria
Nigeria is developing steadily and the business sectors are constantly transforming and improvising their technique by adopting advanced technical support to enhance their industries. With the booming population, the demand for new products and services in the market is increasing. Due to this, the manufacturing industries, especially the pharmaceutical sector in Nigeria, are on a constant change of their complex operational workflow and processes. On the other hand, the small and medium enterprises are yet to update their work mode by integrating the latest enterprise solutions to fortify their business foundation. ERP by Matiyas is one such agile business planning solution provider that ensures the best ERP system in the world. It is designed to ensure both simplicity and power to your business.
Matiyas believes in simplifying businesses with its agile ERP solutions that integrate vital business processes and real-time business insights, streamline industrial practices, ensure improved collaboration among users from data sharing, purchasing to outsourcing orders, and more, within the shortest possible interval so that clients can start savoring the ERP benefits at the earliest.