Thursday, May 17, 2012

Is Nigeria on Your to Do Business List? It Should Be

Let's start with some basic info on Nigeria.

Nigeria Listeni/nˈɪəriə/, officially the Federal Republic of Nigeria, is a federal constitutional republic comprising 36 states and its Federal Capital Territory, Abuja. The country is located in West Africa and shares land borders with the Republic of Benin in the west, Chad and Cameroonin the east, and Niger in the north. Its coast in the south lies on the Gulf of Guinea on the Atlantic Ocean. The three largest and most influential ethnic groups in Nigeria are the Hausa, Igbo and Yoruba. In terms of religion Nigeria is roughly split half and half between Muslims in the North and Christians in the South; a very small minority practice traditional religion.

Nigeria is the most populous country in Africa and the most populous country where the people are predominately BLACK. 

I attended several meetings in the last month concerning the nations with economies that are growing. The first briefing dealt with the BRICS countries (Brazil, Russia,India, China and South Africa).  The second focused on the continent as a whole. (I hate when they do that, because it allows speakers to lump the continent as if its one country instead of fifty countries.) Usually when this is done very little positive information is given out. Yet all of the speakers had to give Nigeria its due. It is a rising economy and is a member of OPEC. Nigeria has become a powerhouse in so many areas (Can you say the next Bollywood). That Screen shot on the left of the animation with the woman facing is from a movie won Nigerian animators the United Nations prize for animation. 

The Nigeria elite and middle class are income generators and spenders. Internet savvy as any one whose received the scam emails can attest to. Smile. In this country you can find some of the most ingenious scam artists in the world and you can find the most honest, get the job done business people you will ever meet and all points in between. The Nigerians were quick to embrace the internet and many use it to do business, shop and keep in touch. 

I used to joke with my Nigeria friends that if I ever visited the North Pole I was certain I would find a Nigerian there. For me their biggest drawback is not getting the word out on the many innovations and opportunities coming out of the country. 

I'm including links for various resources for you to consider in determining what countries you consider doing business in.

For my handcraft audience-Nigerians are everywhere and they are good customers if they like what you are doing, so don't rule them out.
The Africa They never show you.

 Start by checking to find out what individual countries are aspiring to do. Rwanda wants to be an IT Hub. Check to see what regional organizations are focusing on (ECOWAS). Then match your companies strengths to that a regions focus. Once you've determined a region then look for a country within that region to focus on. Now go out and do Business. Smile

 If I can be of assistance contact me. 



  1. Thank you for the objective analysis of Nigeria. I am a Nigerian who school and worked in the US for more than 12years. Nigeria's economic potential is also linked to her GDP purchasing power parity(PPP) of more than $377.9 billion of a growing 150+ population.

    There are more good eggs than the bad eggs who have world class education and passionate about seeing the country take her rightful position among the pack of emerging nations. I also see that you identify with my frustration at the common mistake of lumping the continent of 50 countries as if its one country!
    -juliana momodu

  2. Thank you for the feedback. We need to hear more Nigerian voices than those of the " scam artists"