No country encapsulates the changing economic and social shape of West Africa better than Nigeria. A region rich in oil and natural gas resources, it boast one of the fast growing economies on the continent with a GDP in excess of $200 billion. With such unprecedented business growth and increased private wealth, security is rapidly becoming a top priority.

Therefore it’s no coincidence that the premier security exhibition, IFSEC West Africa 2012, will take place at the EKO Expo Centre in Lagos from 6-7 March 2012, set to build on the success of the inaugural event in 2011, which attracted over 90 exhibitors and more than 2,200 visitors.

Comments Ross Cullingworth, Director Sales and Marketing at Montgomery Africa, “Over the last few years, the West Africa region has increasingly become a focus for security professionals the world over. We just have to look at the support shown for our first event to see the growing need for an exhibition of this nature.”

Those in the security industry—whether as buyers or sellers—are starting to recognise the potential of the region and are geared to explore a rapidly expanding market and lock down lucrative deals and contracts. “It’s a market whose time has come,” he believes. “The aim of the show is to provide a professional and centralised platform to highlight the untapped potential of this region. We cannot think of a more ideal location than Nigeria to host the event.”

According to a report from the International Money Fund, Nigeria’s oil demand has increasingly and unexpectedly strengthened in the last two years, showing the strongest year-on-year increase since 2004.  Furthermore, the IMF’s growth projection puts Nigeria among the about 15 African countries with a GDP growth of 5%, with real growth rate of more than 8%.  The report also shows growth in Sub-Saharan Africa is greatly accelerating.

This economic boom has also brought about a security reform. In recent years, Nigeria’s private security industry has experienced rapid growth, becoming a major part of the economy. Rising crime, state corruption and conflict in the oil-rich Niger Delta have firmly put security on the agenda. At the same time, the country is producing a new rich elite looking to protect their lifestyles.

“If we take a closer look at the Nigerian market, we can see there is a gap to fill in short and long term security strategies,” Cullingworth says. “From private security companies to security products, the need is steadily growing for improved technologies, security services and security management to protect assets, property and people. The kind of growth we’re seeing often introduces a state of flux—and there is pressure on government to firm up regulations in the industry, as well as private individuals and companies looking for greater levels of protection and peace of mind.”

The need for intrusion detection systems (CCTV, alarm systems, panic alarms, perimeter protection) is just one trend Cullingworth identifies in residential homes. “We also anticipate an increasing demand for access control as end-users become more vigilant and wealth increases,” he adds.

In this respect, IFSEC West Africa 2012 will profile top international exhibitors in the fields of electronic security and physical security, as well those security providers focused on commercial and business security—vehicle and personnel tracking services, armoured vehicles, scanners, biometrics and guarding services.  The international line up for the upcoming event includes well-established brands including Axis Communications, Bosch Security, Cross Match Technologies, Honeywell and HIK Vision.

“All in all, the event is a great interactive marketing platform for leading global players to showcase products and services, and generate meaningful marketing leads,” he says. “This certainly delivers greater value for visitors and security buyers, as they will be able to experience first-hand the security options available and educate themselves on the latest technology and trends directly impacting the market.”

A few short months away, IFSEC West Africa 2012 is poised to be the one industry event not to be missed, hosted in one of the most exciting and commercially vibrant cities in Africa. “We’re working full-out to make sure it’s another successful highlight on the security calendar,” Cullingworth concluded.