also comes improved standard of living, better health care and less social ills.

The progression of Africapitalism

With the implementation of Africapitalism, Nigeria has been able to put their hardship of exploitation by their colonial master in the past. Africapitalism has played a role in alleviating problems such as poverty and poor infrastructure. Present day Nigeria’s economic growth is noticeable. For instance oil companies are able to create petroleum from natural oil, which in the same time has created jobs and a new group of consumers. Influential people such as Mr. Aliko Dangote have put much effort into making sure private investment is changed into social wealth. Mr Dangote is Africa’s largest cement producer and is best known for being the richest African with a net worth of about 12.3 billion USD. He and many other Nigerian entrepreneurs have ensured that the money they amass is injected back into the well being of their communities.

Figure 2: Shows Breakdown of Nigeria’s GDP Pre and Post Africapitalism

Pre Africapitalism (2009)

Source:http://www.economywatch.com/world_economy/nigeria/structure-of-economy.html

Post Africapitalism

Source:https://www.proshareng.com/news/Nigeria-Economy/Nigeria%E2%80%99s-Real-GDP-Records-6.21Percent-Growth-in-Q1-%E2%80%9914–Higher-Than-4.45Percent-in-Q1%E2%80%9813/23719

The above graphs show that the service industry has significantly overtaken the agricultural and industrial sectors over the years. For example, many Nigerian firms such as Heirs Holdings which is owned by Mr Elumelu himself, invest long term in the most promising sectors such as oil, real estate and hospitality with the hope that this will create economic growth. Heirs Holdings also prioritises creating competition between businesses. The Heirs Holdings company is proving the world that Nigeria is leading example in long term investment and promoting entrepreneurship. Nigeria has created many economic partnerships with other nations. The creation of these partnerships have seen Nigerian exports skyrocket. Nigeria also has a young and growing population which is ready for the industrialisation of the West African nation. Less dependence on exporting raw materials and a growing service sector has seen Nigeria’s GDP grow at a faster rate. A good example would be the opening of Nigeria’s first fruit juice concentrate plant Teragro Commodities Limited. The fruit juice plant has contributed to making fruit juice which can be exported. Prior to its construction Nigeria had heavily depended on just exporting raw fruits of which they could not charge much for as these are primary commodities. The fruit juice plant has also sticks by the goals of Africapitalism which are to create long term investment and social wealth. So far, the company is reaching these goals and have also considered focussing job creation, creating local demand, ensuring