This project focuses on existing problems, importance of efficient the country risk of Nigeria. In this regard we have identified their culture, people, economy, investment, opportunity, some key problems like Corruption, bureaucracy, piracy, Counterfeit, Criminal activities and fraud, legal safeguards etc. This paper also intends to show the regulatory framework issue, micro economic and macroeconomic issue to give a detailed picture of the Nigerian business Risk.
But there are also upside risks especially to inflation, which could create challenges for Nigeria given emerging constraints (infrastructure).
Nigeria is still today a prosperous country, and although they have had their downfalls, they have had many successes as well. As we know where there is higher risk, return is also higher and investors would like to enter in those countries where return is grater even though the risk is high. Taking this issue in consideration we think that it is wise for us to enter in to a risk potential country like Nigeria. If we can handle all the risks and deal with them properly, then we will be successful in Nigeria.
Table of Content
IntroductionCountry Risk Analyses -CorruptionBureaucracyCriminal ActivitiesLegal SafeguardsCultural IssuesUnfair TradePrecautionary MeasuresOther RisksConclusionBibliography
Coat Of Arms Nigeria, officially named the Federal Republic of Nigeria, is a federal constitutional republic comprising thirty-six states and one Federal Capital Territory. The country is located in West Africa and shares land borders with the Republic of Benin in the west, Chad and Cameroon in the east, and Niger in the north. Its coast lies on the Gulf of Guinea, part of the Atlantic Ocean, in the south. The capital city is Abuja. The people of Nigeria have an extensive history, and archaeological evidence shows that human habitation of the area dates back to at least 9000 BC. The Benue-Cross River area is thought to be the original homeland of the Bantu migrants who spread across most of central and southern Africa in waves between the 1st millennium BC and the 2nd millennium AD. Nigeria is the most populous country in Africa and the eighth most populous country in the world with a population of over 140 million. It is a regional power, it is listed among the "Next Eleven" economies, and is a member of the Commonwealth of Nations. The economy of Nigeria is one of the fastest growing in the world with the International Monetary Fund projecting a growth of 9% in 2008 and 8.3% in 2009. Land area : 351,649 sq mi (910,771 sq km); total area: 356,667 sq mi (923,768 sq
Monetary unit: Naira
Languages: English (official), Hausa, Yoruba, Ibo, Fulani, and more than 200 others Population
(2008 est.): 138,283,240 (growth rate: 2.3%); birth rate: 39.9/1000; infant mortality rate: 93.9/1000; life expectancy: 47.8; density per sq mi: 151. Population of Nigeria's cities over 1,000,000
GDP/PPP (2007 est.): $292.7 billion; per capita $2,000. Real growth rate: 6.4%. Inflation: 5.5%. Unemployment: 4.9%. Arable land: 33%. Agriculture: cocoa, peanuts, palm oil, corn, rice, sorghum, millet, cassava (tapioca), yams, rubber; cattle, sheep, goats, pigs; timber; fish. Labor force: 50.13 million; agriculture 70%, industry 10%, services 20% (1999 est.). Industries: crude oil, coal, tin, columbite; palm oil, peanuts, cotton, rubber, wood; hides and skins, textiles, cement and other construction materials, food products, footwear, chemicals, fertilizer, printing, ceramics, steel, small commercial ship construction and repair. Natural resources: natural gas, petroleum, tin, columbite, iron ore, coal, limestone, lead, zinc, arable land. Exports: $61.81 billion f.o.b....
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