The Journey of Lau 398
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Blog
Business Culture In Nigeria
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Nigeria’s large oil reserves might be seen as each a blessing and a curse. The sale of crude oil represents about 70% of authorities revenue and an unbelievable 90% of the country’s exports. A blessing when oil costs are excessive but a real drawback when costs fall dramatically. Nigeria must diversify away from such over-dependence on the oil industry and it needs exterior help to realize this diversification.
Therefore, Nigeria definitely needs overseas investment and know-how. It probably needs what your company is selling - which must make it a horny potential market. In addition to the nation-extensive need for investment throughout a complete range of sectors, Nigeria additionally has demographics on its side. Over half the inhabitants (which will likely be 200 million before too lengthy) are underneath the age of 24. That represents a huge new potential shopper market who're aspirational and consumerist.
Is Nigeria a horny market? Should Dailymedia Nigeria be looking at doing business in Nigeria?
The very fact is that Nigeria is a tough market from a number of perspectives. Corruption is usually cited as the most important barrier to doing enterprise in Nigeria and it's undoubtedly true that corruption is rife in lots of areas of economic exercise. However, the foremost stumbling block when entering the Nigerian market may in reality be the local business tradition. You could be very unwise the approach the Nigerian market without first making an attempt to get a stable understanding of the way wherein enterprise is completed locally. It isn’t like ‘back home’. Perform some research and arrive in-country as effectively-informed as potential.
This country profile supplies an overview of a few of the key points of Nigerian business culture in a concise, easy to comply with-format. The doc includes information on:
- Background to business - Business Structures - Management model - Meetings - Teamwork - Communication - Women in enterprise - Entertaining - Top tips
Therefore, Nigeria definitely needs overseas investment and know-how. It probably needs what your company is selling - which must make it a horny potential market. In addition to the nation-extensive need for investment throughout a complete range of sectors, Nigeria additionally has demographics on its side. Over half the inhabitants (which will likely be 200 million before too lengthy) are underneath the age of 24. That represents a huge new potential shopper market who're aspirational and consumerist.
Is Nigeria a horny market? Should Dailymedia Nigeria be looking at doing business in Nigeria?
The very fact is that Nigeria is a tough market from a number of perspectives. Corruption is usually cited as the most important barrier to doing enterprise in Nigeria and it's undoubtedly true that corruption is rife in lots of areas of economic exercise. However, the foremost stumbling block when entering the Nigerian market may in reality be the local business tradition. You could be very unwise the approach the Nigerian market without first making an attempt to get a stable understanding of the way wherein enterprise is completed locally. It isn’t like ‘back home’. Perform some research and arrive in-country as effectively-informed as potential.
This country profile supplies an overview of a few of the key points of Nigerian business culture in a concise, easy to comply with-format. The doc includes information on:
- Background to business - Business Structures - Management model - Meetings - Teamwork - Communication - Women in enterprise - Entertaining - Top tips
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