Download - Nigeria - Country study
Introduction
Nigeria, country located on the western coast of Africa. Nigeria has a diverse
geography, with climates ranging from arid to humid equatorial. However, Nigeria’s most
diverse feature is its people. Hundreds of languages are spoken in the country, including
Yoruba, Igbo, Fula, Hausa, Edo, Ibibio, Tiv, and English. The country has abundant natural
resources, notably large deposits of petroleum and natural gas.
International Business
Nigeria
Country Analysis
By Simon Bozec
2 NIGERIA Country Analysis
Introduction Nigeria is a country located on the western coast of Africa. It is a Federal Constitution
Republic composed by 36 states and a developing country. Nigeria is currently the most
important ecoomy and populous country in Africa.
Nigeria has a diverse geography, with climates ranging from arid to humid equatorial.
However, Nigeria’s most diverse feature is its people. Hundreds of languages are spoken in
the country, including Yoruba, Igbo, Hausa, and English. The country has abundant natural
resources, notably large deposits of petroleum and natural gas.
I choose the Nigeria because Africa is going to become the largest market in the
world and Nigeria is an important actor in this continent. The potential of this country inspire
me and it existe my curiosity for this country.
Nigeria Report 1 Quick Facts about Nigeria
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Table des matières
I) History ..................................................................................................................................... 5
A. Early Nigerian cultures ......................................................................................................... 5
1) THE NOK CULTURE ................................................................................................................. 5
2) IGBO UKWU ........................................................................................................................... 5
B. Kingdoms and empires of pre-‐colonial Nigeria ..................................................................... 5
C. The arrival of the British ...................................................................................................... 5
II) Geography .............................................................................................................................. 8
III) Demography ......................................................................................................................... 9
IV) Culture ................................................................................................................................ 11
A. Symbols ............................................................................................................................. 11
1) Flag ....................................................................................................................................... 11
2) Coat of Arms ........................................................................................................................ 11
B. Languages spoken ............................................................................................................. 12
C. Social conventions ............................................................................................................. 12
D. Classes & Castes ................................................................................................................ 13
E. Daily life & social customs .................................................................................................. 13
F. Religion .............................................................................................................................. 14
G. Ethnic groups ..................................................................................................................... 14
1) Hausa ................................................................................................................................... 15
2) Yoruba .................................................................................................................................. 16
3) Igbo ...................................................................................................................................... 17
V) Form of government ............................................................................................................. 19
A. Executive power ................................................................................................................ 19
B. Legislative power ............................................................................................................... 19
C. Legal system ...................................................................................................................... 20
VI) Economy ............................................................................................................................. 21
A. Data overview ................................................................................................................... 21
B. Imports & Exports .............................................................................................................. 21
C. Main industries .................................................................................................................. 21
1) Oil and Gas industry ............................................................................................................. 21
2) Agriculture ........................................................................................................................... 22
D. International place ............................................................................................................ 22
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E. PPP and currency ............................................................................................................... 23
VII) Doing business in Nigeria ................................................................................................... 24
A. Labour market ................................................................................................................... 24
B. Infrastructures ................................................................................................................... 26
C. Business etiquette ............................................................................................................. 27
D. SWOT Analysis .................................................................................................................. 28
E. Political risks ...................................................................................................................... 28
1) Corruption ............................................................................................................................ 28
2) Instability ............................................................................................................................. 29
VIII) Major trading partners ..................................................................................................... 30
A. China and Nigeria: a powerful South-‐South Alliance .......................................................... 30
1) Overview .............................................................................................................................. 30
2) Agreements .......................................................................................................................... 30
3) Imbalance trade ................................................................................................................... 31
4) Telecommunications ............................................................................................................ 31
B. Nigeria-‐USA: a powerful Alliance ....................................................................................... 31
1) Overview .............................................................................................................................. 31
2) Fight against Boko Haram` ................................................................................................... 32
3) Balance trade ....................................................................................................................... 32
4) Agreements .......................................................................................................................... 32
IX) Sources ................................................................................................................................ 35
1) History .................................................................................................................................. 35
2) Geography ............................................................................................................................ 35
3) Demography ......................................................................................................................... 35
4) Culture ................................................................................................................................. 35
5) Form of government ............................................................................................................ 35
6) Economy .............................................................................................................................. 35
7) Doing business in Nigeria ..................................................................................................... 36
8) Major partners ..................................................................................................................... 36
5 NIGERIA Country Analysis
I) History
A. Early Nigerian cultures
1) THE NOK CULTURE
Evidence of human occupation in Nigeria dates back thousands of years. The Nok
Culture appeared in Northern Nigeria. The ancient culture produced fine terra-cotta figurines.
Initially Neolithic, the Nok culture made the transition to the Iron Age. Its people raised crops
and cattle and they have paid particular attention to personal adornment. Some of the
distinctive features of Nok art include naturalism, stylized treatment of the mouth and eyes,
relative proportions of the human head, body, distortions of the human facial features, and
treatment of animal forms.
2) IGBO UKWU
The Igbo Ukwu culture appeared in the South of Nigeria during the 9th century. We
found Bronzes that reveal not only a high artistic tradition but also a well-structured society
with wide-ranging economic relationships. Of particular interest is the source of the copper
and lead used to make the bronzes, which may have been Tadmekka in the Sahara, and of
the coloured glass beads, some of which may have come from Venice and India, the latter
via trade routes through Egypt, the Nile valley, and the Chad basin.
B. Kingdoms and empires of pre-colonial
Nigeria
Many indigenous polities emerged in Nigeria before the 19th century. In the north
there were several large and developed systems, including the Hausa states of Kano,
Katsina, Zaria, and Gobir; Kanem-Borno; and the Jukun states of Kwararafa, Kona, Pinduga,
and Wukari. Smaller kingdoms included those of the Igala, Nupe, and Ebira. In the South,
there was the Yoruba states of Ife and Oyo, the Edo state of Benin, the Itsekiri state of Warri,
the Efik state of Calabar, and the Ijocity-states of Nembe, Elem Kalabari, Bonny, and Okrika.
C. The arrival of the British
The first Europeans country which came in Nigerian is Portugal in 1486.Contact with
Europeans began with the arrival of Portuguese ships in 1486. The British, French, and
Dutch soon followed. Soon after their arrival, the trade in slaves replaced the original trade in
goods.
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Many of the coastal communities began selling their neighbors, whom they had
captured in wars and raids, to the Europeans in exchange for things such as guns, metal,
jewelry, and liquor. The slave trade had major social consequences for the Africans. Violence
and intertribal warfare increased as the search for slaves intensified.
The slade trade increased wealth of the communities and it began to change social
structures in the area. Leadership, which had been based on tradition and ritual, became
based on wealth and economic power.
After more than 350 years of slave trading, the British decided that the slave trade
was immoral and ordered it stopped in 1807. However, many local leaders continued to sell
captives to illegal slave traders. This lead to confrontations with the British Navy, which took
on the responsibility of enforcing the slave embargo.
The Nigerian economy began to flourish when the nonslave trade began. A new
economy based on raw materials, agricultural products, and locally manufactured goods saw
the growth of a new class of Nigerian merchants.
A new divide within the local communities began to develop, in terms of both wealth
and politics. Many former slaves and lower-class people found that they could advance
quickly up the social ladder because being a successful merchant was based on production
and merit, not on traditional community standing. It was not unusual to find a former slave
transformed into the richest, most powerful man in the area.
Christian missionaries brought Western-style education to Nigeria as Christianity
quickly spread throughout the south. The mission schools created an educated African elite
who also increased contact with a Westernization of Nigeria.
In 1884, the British Army and local merchant militias set out to conquer the Africans who
refused to recognize British rule. In 1914, after squelching the indigenous opposition, Britain
officially established the Colony and Protectorate of Nigeria.
The spread of colonial control led to the first and only time that the ethnic groups in
modern Nigeria came together under a commonly felt sense of national identity. The Africans
began to see themselves not as ethnic communities but as Nigerians in a common struggle
against their colonial rulers.
The nationalistic movement grew out of some of the modernization the British had
instituted in Nigeria. The educated elite became some of the most outspoken proponents of
an independent Nigeria.
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Both the elite and the uneducated also began to grow fearful of the increasing loss of
traditional culture. They began movements to promote Nigerian foods, names, dress,
languages, and religions. As a result of this coming together, the Nigerians saw that they had
more in common with each other than they had previously thought.
Nigeria gained full independence from Britain on 1 October 1960. It is an important
event for the Nigeria ; this date became a public holyday. Fighting between and among
political parties created chaos within the democracy immediately after independence.
On 15 January 1966, a group of army officers did a military coup, killing many of the
government ministers. Six months later, northern forces within the military staged a
countercoup, killing most of the Igbo leaders. Anti-Igbo demonstrations broke out across the
country, especially in the north. Hundreds of Igbos were killed, while the rest fled to the
southeast.
On 26 May 1967, the Igbo-dominated southeast declared it become the independent
Republic of Biafra. It leads to bloody civil war that lasted for three years. In 1970, on the brink
of widespread famine resulting from a Nigeria-imposed blockade, Biafra was forced to
surrender. Between five hundred thousand and two million Biafran civilians were killed during
the civil war.
Following the war, the military rulers encouraged a national reconciliation, for
becoming an unified people. However, it did not end the problems of ethnicity in the country.
After decades of military rule, elections for a new civilian president were finally held
on 12 June 1993. Moshood Abiola, a wealthy Yoruba, won the elections. Two weeks later,
the military regime annulled the results of the election and Abiola imprisoned. This coup
d’état created a new ethnic crisis. The next five years saw violent protests and mass
migrations as ethnic groups again retreated to their traditional homelands.
The death of Nigeria's last military dictator on 8 June 1998, General Suni Abacha,
opened the door for a transition to civilian rule. Many Nigerians again ethnic lines when they
entered the voting booth. Traditionlly, ethnic groups have an important weight for the election
because Nigerian vote for the candidate of their ethnic group. On 22 February 1999
Olusegun Obasanjo, a Yoruba, won the presidential election.
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Unfortunately, violent ethnic fighting in Nigeria continues. In October 2000, clashes
between Hausas and supporters of the Odua People's Congress (OPC), a militant Yoruba
group, led to the deaths of a hundred people in Lagos.
II) Geography
Nigeria is a country in Western Africa, situated on the Gulf of Guinea. It shares
borders with Benin, Cameroon, Niger and Chad. Nigeria has an area of 923,768 sq. km. It
represents slightly more than twice the size of California.
Nigeria has mainly a tropical climate with variable rainy and dry seasons, depending
on location. Thus, it is an equatorial climate in South, and an arid climate in North.
Temperature and humidity are relatively constant throughout the year in the south, while the
seasons vary considerably in the north.
The topography of Nigeria consists of plains in the North and South, and plateaus and
hills in the centre of the country. The country’s highest point (2,419 meters) is Chappal
Waddi and it is located in the mountainous zone along the middle part of the eastern border.
The major rivers of Nigeria are the principal river of western Africa, Niger and Benue.
Nigeria Report 2 Official map
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Nigeria has a wide variety of different natural resources. Nigeria has natural gas, oil,
tin, iron ore, coal, and limestone, niobium, lead, zinc and arable land. The country possesses
also various metals stones such as Barites, Gypsum, Kaolin and Marble.
The current capital city of Nigeria is Abuja. The city is located within the FCT (Federal
Capital Territory), in the centre of Nigeria.
III) Demography In 2014, Nigeria is the Africa’s most populos country and the 8th in the world with
177, 155,754 people. The population growth rate is 2,47% in 2014. Nigeria has birth and
mortality rates that are higher than the world average. Since the mid-20th century, infant
mortality has declined drastically and life expectancy has increased; therefore, population
growth has been rapid. In the early 21st century, almost three-fourths of the population was
younger than age 30.The current age average is 18.2 years old. The Nigerian population is
very young (figure X) and it offers important opportunities for the business. In 2050, Nigeria is
going to become the 3rd most populos country in the world, ahead of the United States of
America. Their population will be established at 389 million people. The population density is
191 people per sq. km ; it is higher than in China.
In 2012/2013, we estimate that 33.1% of the Nigerian population lived below the
poverty line. The repartition of the poverty is not consistent in the country. Indeed, it exists a
strong divide between the North and South of Nigeria in poverty and poverty reduction. While
the South of Nigeria has relatively low poverty rate, ranging from 16% in the South West to
28,8% in the South East, poverty rates in the North are more higher with 45.9% in the North
West and 50.3% in the North East. Moreover, poverty is much lower in urban areas (12.6%)
than in rural areas (44.9%), and the urban poverty reduction dynamic is much stronger.
Nigeria Report 3 Age Pyramid
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The number of Nigerians living in poverty is not decreasing.
It established at 57 million habitants in 2010/2011 and it was the
same rate for 2012/2013.
However, we can observe some disparition according to the
different areas in the country. In the South of Nigeria, there is a
strong positive dynamic in poverty reduction in recent years whereas
the poverty increased in the North. This difference is related to the
recent security challenges in the Northern part of Nigeria. The population of the North does
not have the same provision of public services and the degree of connectedness to larger
market.
In Nigeria, primary education, free and compulsory, begins at age six and lasts for six
years. Secondary education consists of two three-year cycles. Although federal and state
governments have the major responsibility for education, other organizations, such as local
governments and religious groups, may administer primary and secondary schools. Most
secondary schools, trade centres, technical institutes, teacher-training colleges, and colleges
of education and of technology are controlled by the state governments. The language for
the education is English.Many families are unabled to afford basic education for theur
children or needing them to contribute to the family income by working from an early age.
The youth (15-24) literracy rate (2008-2012) is 75.6% for the male and 58% for the female.
On March 26, 2013, Nigeria set up a State Education Program Investment Project.
This program support need-based teacher deployment, school-level management and
measurement of student learning in Participating States. The total cost of the project is US$
1342.00 million and it lasts until 2017.
Lagos is the most populous city in Nigeria and it is also the largest city in Africa with a
population of 21 million people. Lagos represents the commercial centre of Nigeria and is the
second fastest-growing city in Africa and the seventh in the world. It represents the quick
increase of the Nigeria. Lagos is the former capital of Nigeria.
Nigeria Report 4 Number of poors
11 NIGERIA Country Analysis
IV) Culture Nigerian culture derives from the mixture of its ethnic groups with Arabic and western
European influences. The country combines traditional culture with international urban
sophistication
A. Symbols
Because there is little feeling of national unity among Nigeria's people, there is little in
terms of national symbolism. What exists was usually created or unveiled by the government
as representative of the nation.
1) Flag
The main national symbol is the country's flag. The Nigerian National Flag became
the official flag of the country when the Nigeria became officially independent, on October 1,
1960; it was designed by a student from Ibadan, Michael Taiwo Akinkunmi. The flag is
divided vertically into three equal parts; the center section is white, flanked by two green
sections. The green of the flag represents agriculture, while the white stands for unity and
peace.
2) Coat of Arms
The Coat of Arms of Nigeria has a black shield with two white lines that form in a "Y"
shape. The black shield represents Nigeria's fertile soil, whereas the two horses or chargers
on each side represent dignity. The eagle represents strength, while the green and white
bands on the top of the shield represent the rich soil. We could see the Motto of the country
on the banderol
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B. Languages spoken
English is the official language of Nigeria, used in all government interactions, in
schools and it is the only common language to most people. They chose the former
colonisation language to facilitate the cultural and linguistic unity of the country. Nigerian
people speak much more in English in the urban areas than in the rural areas. Hausa is the
most widely spoken language, although English is the official language of Nigeria.
Unofficially, the country's second language is Hausa. In northern Nigeria many people
who are not ethnic Hausas speak both Hausa and their own tribal language.
In addition to English and Hausa, Yoruba, Igbo, Fula, and English Creole are widely
spoken. Many of the languages exist in written form. It exists also more than 250 local
languages spoken in Nigeria. They are classified into three broad linguistic groups: Niger-
Congo, Nilo-Saharan, and Afro-Asiatic. On the basis of modern linguistic research, it is
thought that the great majority of Nigerian languages have been spoken in roughly the same
locations for some 4,000 years.
C. Social conventions
Shaking hands with everyone is customary on meeting and departing. It is a sign of
respect for women to curtsey when introduced and to enquire after relations, even if this is a
first meeting. Unless the visitor knows someone well, it is unusual to be invited to a
Nigerian's home. A small gift of appreciation is always welcome and business souvenirs
bearing the company logo are also acceptable.
Casual wear is suitable and a lightweight suit and tie are only necessary for
businesspeople on formal meetings; on most other occasions men will not need to wear a
jacket, although a tie might be expected. Women should dress modestly, and respect local
customs regarding dress, particularly in the Muslim north. It is inadvisable for women to wear
trousers.
There are over 250 tribes in Nigeria. Consequently, it exists an important diversity of
art, dance forms, language, music, customs and crafts. It is important for business people to
identify the ethnic group of the people they are dealing with because customs and beliefs are
not the same and Nigerians have a very strong sense of ethnic allegiance.
13 NIGERIA Country Analysis
D. Classes & Castes
Nigerian society has a castes and classes system and it is based on the wealthy.
Businessmen, politicians and educated elite, compose the higher tier of Nigerian society.
However, this tier only makes up a tony portion of the Nigerian population. Nigerian
population suffer a lot from poverty. The lower classes have little chance of breaking from the
cycle of poverty. In the Nigerian ethnic group, it also exists a form a caste system. The
criteria for determining who belongs to the lowest caste vary from area to area. For the Igbo,
their lowest caste is the Osu. This caste has not a good political representation, basic
education or business opportunities.
E. Daily life & social customs
Social customs and daily life is a mixed between inherited traditions and adaptations
of imported ones. American films are popular among the urban middle and low income
groups. Radio, television, and other forms of home entertainment have also grown in
popularity, but their use is dependent on the availability of electricity.
The family is the central institution, whether in urban or rural areas. Families gather to
celebrate births and weddings. Funerals are also times when the family gathers.
Food is an important part of Nigerian life. Seafood, beef, poultry, and goat are the
primary meal. With so many different cultures and regions, food can vary greatly :
• In the southern areas, a variety of soups containing a base of tomatoes, onions, red
pepper, and palm oil are prepared with vegetables such as okra and meat or fish.
• In the north, grains such as millet and wheat are a large part of the diet. Beans and
root vegetables are ubiquitous. Many dishes are flavoured with onions, palm oil, and
chillies.
Nigerians celebrate several holidays throughout the year. Here are the holy days for 2014:
Holy days in Nigeria January 01, 2014 New Year’s Day January 13, 2014 Milad un Nabi
April 18, 2014 Good Friday April 21, 2014 Easter Monday June 12, 2014 June 12 Commemoration May 29, 2014 Democracy Day July 28, 2014 Eid al-Fitr (End of Ramadan)
October 01, 2014 Independence Day October 04, 2014 Eid al-Adha (Feast of sacrifice)
December 25, 2014 Chritsmas Day December 26, 2014 Boxing Day
14 NIGERIA Country Analysis
F. Religion
Nigeria has two main religions: Islam and Christianity. 50 % of the Nigerian are
Muslim, 40% are Christians and 10% are indigenous religions. Religion is strongly related to
ethnicity, with rather distinct regional divisions between ethnic groups. The greatest
concentration of Muslims is in the northern states; there, three-fourths of the people profess
the religion of Islam, which also is the dominant faith in a few of the southern states.
Christians make up more than three-fourths of the population in the eastern states. Freedom
is guaranteed by the constitution, and Muslims and Christians live and work together,
although there is continuing conflict between the two groups and between them and
adherents of traditional religions. Islam have chosen to incorporate the traditional practice of
polygamy. Christianity has officially disallowed it, while Islam has allowed men to have up to
four wives.
G. Ethnic groups
Nigeria has more than 250 ethnic groups, with varying languages and customs,
creating a country of rich ethnic diversity. The ethnic diversity generates some conflicts
between the different groups. The following groups are the most populous and politically
influential.
Hausa and Fulani 29%
Yoruba 21%
Igbo 18%
Ljaw 10%
Kanuri 4%
Ibibio 4%
Tiv 3%
Others 12%
Ethnic Groups
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1) Hausa
The Hausa are the largest ethnic group in all Africa. They are very influential in West Africa,
both culturally and politically.
a. Who are they
Most of the Hausa are farmers, herdsmen or traders. Seventy percent of the Hausa
live in rural farm villages with populations that may range from 2,000 to 12,000. We only can
find the “well-to-do” living in modern homes or apartment in the city.
Life for the majority of Hausa is difficult but they have reasonable standards of health
care, electricity, education and diet in comparison to some other African tribes. For example,
one-third of the people are unemployed, and illiteracy is present because only half of the
population can read and write.
b. Their culture
Within their culture, individuals are classified between commoners or chief, depending
on which profession they hold and the amount of wealth they possess. For the marriage, the
partners are closely related, preferably cousins. Marriages are arranged and ceremonies last
for weeks.
Each wife has her own hut where she sleeps with her young children and the
husband has his own hut too. In Nigerian terms, a woman is almost defined as someone’s
wife, mother and she is given less educational opportunities than men.
A large part of the women population is single because the divorce rate is high.
c. Their beliefs
By 1500, traders had introduced Islam to the Hausa. Many of the urban Hausa
became Muslim, in hopes of enhancing their business. However, the villagers did not convert
to Islam.
During the “Holy wars” of 1804 and 1808, their Islamic neighbours, the Fulani,
conquered the Hausa. They became slaves until the 1900’s. Many villagers were forced into
becoming Muslim at that time. They adopted some of Islam’s basic rituals and behaviours
Overview Population 27,805,000
Largest Religion Islam (99,9%) Main language Hausa
Location North of Nigeria
16 NIGERIA Country Analysis
but they were not as implicated as the urban Hausa. For that reason, many rural Hausa
today are superficially Muslim.
The Hausa culture is strongly linked to Islam. Besides, we can observe a lot of
prejudice against the Christian of Southern Nigeria and there has been persecution of the
minority of the Christian Hausa.
d. Their language
Hausa is the most spoken language in West Africa. An estimated 22 million people
speak it. Another 17 million people speak Hausa as a second language. Hausa is written in
Arabic characters, and about one-fourth of Hausa words come from Arabic. Many Hausa can
read and write Arabic. Many can also speak either French or English.
2) Yoruba
The Yoruba are one of the largest African ethnic groups south of the Sahara Desert
and the second largetst ethnic group in Nigeria. They represent not a single group, but rather
a collection of diverse people bound together by a common language, history, and culture.
Overview
Population 35 million (in all Africa)
Religions Christianity, Islam
Main language Yoruba
Location West of Nigeria
a. Who are they
About 75 percent of the Yoruba men are farmers, producing food crops for their
domestic needs. In their culture, farming is considered men's work ; clearing or hoeing fields
is done only by men. Wives help their husbands plant yams and harvest corn, beans, and
cotton. They also help at the market, selling farm produce. Some Yoruba have large cocoa
farms worked by hired labor. They enjoy trading and it is common to see huge markets with
over a thousand sellers. Women help at the market, trading foodstuffs and clothes. Men
trade meat selling and produce buying. The youth generation of Yoruba is moving away from
farming, they want to go to the universities and they find better opportunies with the
development of the country.
b. Their culture
Best friends are very important for them: “friend not see-not-sleep”. It means that one does
not go to sleep without seen his best friend. Then, marriages are arranged and a man has to
17 NIGERIA Country Analysis
negotiate with the girl’s father for being married with her. If the father approved, he must
bring the family a payment called a bride wealth
Marriages are arranged. A man must negotiate with the girl's father. If he is approved he
must bring to the family a payment, called a bride wealth.
For the first eight days after marriage the woman divides her time between her husband's
and in her parents' compounds. On the ninth day, she moves to her husband's home.
c. Their religion
Today only 20 percent of the Yoruba still practice the traditional religions. The practice varies
from community to community. For example, a god may be female in one village and male in
another. The three main god for everybody are Olorun, the high god, Eshu, the divine
messenger and Ifa, the god of Divination. The Yoruba who practice other religious are
divided about between Muslims and Christians but almost all Yoruba still participitate annual
festivals and other traditional religious practices.
d. Their language
The Yoruba language belongs to the Congo-Kordofanian language family. This language has
many dialects but it does not exist lots of differences between them.
The Igbo are the second largest group of people living in southern Nigeria. They are socially
and culturally diverse. They have no common traditional story of their origins.
3) Igbo
a. Who are they?
The Igbo economy depends on root-crop farming. The chief root crops are Yams, cassava
and taro. More and more Igbo are now engage in wage labor. They benefit from the oil
industry, growing cities and expanding road construction
Overview
Population 26,697,000 in Nigeria
Location Southern Nigeria
Largest Religion Tribal religion
Main Language Igbo
Their life has changed considerably with the discovery of Oil in Nigeria. Their village does not
look like the same. Indeed, their houses are now built of cement blocks with iron roofs.
Electricity, television and radio are now commonplace.
18 NIGERIA Country Analysis
b. Their culture
Igbo men practice the polygyny; they have more than one wife. The family is made up of a
man, his wives and all their children. The most a man married woman, the most he is
successful. The Igbo family has recently changed. Christian and civil marriage are important
revolutions.
The two criteria of interpersonal relations are age and gender. Respect is given to old
persons and males. Then, their social status is based only on wealth.
Two criteria shape interpersonal relations: age and gender. Respect is given to males, and to
older persons. Children are always required to offer the first greeting to their elders. The Igbo
distinguish between obgenye (the poor), dinkpa (the moderately prosperous), and nnukwu
madu or ogaranya (the rich).
c. Their religion
The Igbo believe in a supreme god who keeps watch over his creatures from a distance.
They don’t make direct sacrifice to him.
The major beliefs of the Igbo religion are shared by all Igbo-speaking people.
d. Language
Their language is the Igbo. It belongs to the Niger-Congo language family and it is a
complicated system with a wide range of dialects.
19 NIGERIA Country Analysis
V) Form of government Since its independence in 1960, Nigeria has known a chaotic institutional evolution. In
50 years, the country has had 10 coup d’état, 4 republics and more than 30 years of military
system.
The politic system of Nigeria is inspired from the American system. It is a presidential
and federal system. This politic system consists of 3 different powers separated: executive
power, legislative power and an independent legal system.
A. Executive power
The Executive power consists of a President of the Republic. He is elected for a
period of 4 years and renewable once. He is both Head of State and chief government.
The current President of the republic is Goodluck Jonathan. He won the election in
2010. His political party is the People’s Democratic Party (PDP). He is Christian and belongs
to the Ijaw ethnic group. He wants to fight the corruption and end the Islamist-led insurgency
in Northern Nigeria.
At the State level, executive power is made up of the Governor, the Deputy Governor
and other members of the State Executive Council.
B. Legislative power
As a Federal government, Nigeria has a bicameral parliament. It consists of that the
legislative power is divided between two chambers: the Senate, the “upper” chamber and the
House of Representatives, the “lower” chamber.
The Senate is made up of 109 elected members while the House of Representatives
has 360 members. The membership of the Senate is on the basis of equality of states with
each state having three Senators. One senator represents the Federal Capital Territory
(FCT). The number of Representatives elected by each State is determined on the basis of
population.
Each state also has its own law-making organ known as the House of Assembly. The
members elected into the Houses of Assembly represent the various state constituencies
usually delineated on the basis of population.
20 NIGERIA Country Analysis
C. Legal system
Nigerian has a complex and well-developed legal and judicial system. It contains
three codes of law because of its ethnic groups and its past. It mixed legal system of English
common law, Islamic law and traditional law.
Nigerian is mainly based on the common law due to the British colonisation. The
principle of this legal system is that it is unfair to treat similar facts differently on different
occasions.
Traditional laws, administered by native, are usually presided over by traditional
rulers, who generally hear cases about family problems such as divorce.
In order to take in consideration the important cultural diversity, the constitution of
1999 consider that Charia could be apply in certain states. Judges apply Sharīʿah based on
the Maliki Islamic code. Although the states claim that the law applies only to Muslims, the
minority non-Muslim population argues that the law affects it as well. For instance, Christian
women must ride on female-only buses, and in some states they cannot participate in sports.
At this time, Sharia is coming into effect in 12 federal states, mainly located in the North.
According to the Nigerian Constitution 1999, the following courts are established in
the Federal Republic Of Nigeria:
• The Supreme Court of Nigeria; • The Court of Appeal; • The Federal High Court; • The High Court of the Federal Capital Territory, Abuja; • A High Court of a State • The Sharia Court of Appeal of the Federal Capital Territory, Abuja; • A Sharia Court of Appeal of a State; • The Customary Court of Appeal of the Federal Capital Territory, Abuja; • A Customary Court of Appeal of a State
The Supreme Court is the highest court and all decisions from the court are coming
into effect on all other courts. Each state has a High Court, which is presided over by a chief
judge and has an option to establish a Sharia Court of Appeal or a Customary Court of
Appeal.
21 NIGERIA Country Analysis
VI) Economy Nigeria is the largest economy in Africa and the 26th economy in the world.It is
considered as a mixed economy. Nigeria is going to become one of the 20 largest
economies in the world by 2020. Nigeria will get the highest average GDP growth in the
world between 2010–2050. Since the year 2007, the country has a high GDP and the
government has been trying constantly to curb the mismanagement and inflation and
imposing new policies and reforms to improve the financial and services sector of the
country.
A. Data overview
Nigeria Canada
World Ranking 26th 11th
GDP US $ 521.8 bllion (+7%) US $1.827 trillion (+2%)
GDP per capita US $ 3,006 US $ 51,958
Unemployment rate 28.7% 7%
B. Imports & Exports
Imports Exports
Balance Trade: US $ 37,57 million
US $ 55.98 billion US $ 93.55 billion
Refined Petroleum (14%), Cars (7%),
Wheats (3%), Others (76%)
Petroleum (95%), Coco Beans (2%),
Rubber (2%), Others (1%)
China (18,3%), USA (10,1%), India (5,5%) USA (16,8%), India (11,5%), Netherlands
(5,5%),
C. Main industries
1) Oil and Gas industry
The oil industry is the largest industry and the main generator of GDP. The country
mainly relies on the production and exports of oil and gas, which dropped the earnings of the
country due to economic boom-and-bust situation in previous years.
Source: Worldbank, 2013
Source: Worldbank, 2013
22 NIGERIA Country Analysis
95% of the exportations are related to the oil sector. Changes in prices or in the performance
of the oil sector can have a major impact on the economy of Nigeria. %. Other goods
represents nothing compared to it. This dependance to the petroleum could be a problem for
the Nigeria.
Fortunately, the performance of the oil sector and oil revenues has been stronger in
2014 compared to the difficult year of 2013. The Nigerian government needs to diversify its
economy and export base so that it does not concentrate on the sufferings and thus, losses
in one sector only. The price of oil is currently decreasing and it could impact a lot the
Nigerian economy.
2) Agriculture
Agriculture is going to become the “new oil”. We resume the Nigerian economy as its
oil industry. However, agriculture has an important role in boosting Nigeria’s economy.
Currently, the government spend only 1.6 percent of the national budget in Agriculture. They
launched for becoming self-sufficient in rice by 2015. This program already shows the
important potential of the agriculture. It is going to create 3.5 million jobs in agriculture and a
boost of food of 20 tonnes.
D. International place
Nigeria is a member of some international and regional organizations. The country is
a member of the United Nations, International Monetary Fund, Worl bank, World trade
Organization, ECOWAS and OPEC (Organization of the Petroleum Exporting Countries).
The country is a former colony of the Brittany. They are still related with a common
agreement with former colonies of Great Britain, the Commonwealth
Nigeria belongs to the “Next Eleven” economies because it is a high potential
economy. Goldman Sachs has introduced this term in 2005 and it represents the elven
countries it thought could potentially have a BRIC-like impact. The “Next-Eleven” are still far
from the G7 Nations but their foundations are in place. Their economic growths are more
important than G7 Nations. In 2013, the growth rate of Nigeria was 5.4% whereas the
Canadian’s was only 2% International investor are encouraged to invest the “Eleven”
countries.
23 NIGERIA Country Analysis
Nigeria belongs to ECOWAS (Economic Community of West African States). It is a
group of fifteen West African countries. The agreement goal’s is to promote economic
integration across the region. It is considered as one of the pillars of the African Economic
Community.
Nigeria requests a permanent seat in the United Nations security council. The
Nigerian military is the largest and best-equipped military in West Africa and is really
implicated in the mission for keeping the peace in Africa.
E. PPP and currency
The currency of Nigeria is the Nigerian Naira: USD 1$ corresponds to 177.3 ₦. PPP
(Purchasing Power Parity) is the relative ability of two countries currencies to buy the same
goods in those two countries. It is a good way to compare the cost of living between two
countries. We could compare the PPP of Canada and Nigeria with a several products:
Nigeria Canada
Bottle of water (1,5L) USD $0.77 USD $1.78
Cappuccino (regular) USD $2.74 USD $3.27
Tomato (1kg) USD $2.58 USD $3.05
The cost of life is higher in Nigeria than Canada. Indeed, a bottle of water is twice
more expensive in Canada. This difference can be explained with the different of GDP per
capita of the two countries.
Through ECOWAS (Economic Community of West African States), Nigeria is going to
launch a common currency with fifteen other countries in 2020. The countries of the
agreement are in the West African Monetary Zone. It is a good way to “renforcer” trade
relation between these countries and have a better power in the international scene.
24 NIGERIA Country Analysis
VII) Doing business in Nigeria
A. Labour market
Nigeria has a large pool of unskilled and skilled workers relative to others countries in
SSA (Sub-Saharan Africa). The country have available poor infrastructure and it has frequent
strike actions, and it affects the quality of educational institutions. It is leading businesses
recruit foreign workers with more qualified skills. However, Nigeria has a good educational
system compared to the other countries in SSA. The country is ranked 2nd for the Education
with a score of 50.7 (see figure 5).
The labour cost in Nigeria is an opportunity for the businesses. Nigeria is in 32nd place
out of 44 countries in this category. Foreign businesses could produce in this country and
make important margin thanks to the cheap workforce.
Today, it exists a minimum wage in Nigeria but the government regulate it. The
current minimum wage is 18,000 Nigerian Naira; it corresponds to $102,19. However, a
debate is in progress about this issue. Nigerian workers want to establish a deregulation of
the minimum wage but the Senate refused their offer because they consider that: “It would
create a chaotic and potentially destabilising industrial relations environment in the country.”
Workers are determinate to obtain this deregulation. With this reform, federation and
individual employers would be empowered to decide on and set their own minimum wage
independent of the national minimum wage structure. Some states are richer than other, that
is one of the reasons they want to deregulate the minimum wage.
Unemployment is one of the fundamental developmental challenges facing Nigeria at
the moment. Nigeria does not have any reliable figure on the rate of unemployment but it
exists some figures. According to a 2009 World Bank Report, 40 millions (28.57%) of the
country’s employable people are unemployed. Unemployment is especially present for the
young workers. In terms of age, younger worker struggle more to find jobs.
Nigeria Report 5 Labour Force
25 NIGERIA Country Analysis
At least, two-thirds of unemployed youth are between 15 and years old. In terms of gender, a
majority of unemployed youth are female. As shown in Table 6, women accounted for more
than 50 percent of unemployed youth between 2008 and 2012.
Youth employment is mostly in rural areas and rapidly growing. From 2010 to 2011,
the share of unemployed youth in rural areas increased from 47.59 percent to 59.95 percent.
The population of unemployed youth in rural areas increased from 2.9 million in 2008 to
about 5.9 million in 2012.
Nigeria Report 6 National Youth Unemployment Figures by Gender and Geography 2008-2012
26 NIGERIA Country Analysis
B. Infrastructures
Nigeria has made important strides toward improving its infrastructure. Nigeria has
relatively advanced road, rail, power and information and communications technology
compared to many African countries. In recent years, Nigeria has established several
important infrastructure sector reforms. The lack of infrastructures is responsible for the
productivity handicap faced by Nigerian firms.
Here is the situation of the infrastructures in Nigeria:
In November 2014, China firm signs $12 billion deal to build a railway along Nigeria’s
Coast. The Nigerian railway will stretch for 1,402 kilometres along the coast, linking Lagos,
the financial capital of Africa's largest economy and leading oil producer, and Calabar in the
east. This project shows the desire of Nigeria to improve its infrastructures.
Nigeria Report 7 Achievements and challenges in Nigeria's infrastructure sectors
27 NIGERIA Country Analysis
Infrastructures contribute a lot to economic growth. During the period 2003 to 2007,
infrastructures represent 1% to annual contribution per capita economic growth in Nigeria.
According to Calderon, infrastructures can potentially represent to approximately 4% to
annual contribution per capita economic growth in Nigeria. It is an opportunity of
development for the Nigeria; they have to invest in infrastructures.
C. Business etiquette
Nigeria is a land of opportunities. However, business people have to follow some
rules for doing business in this country. The keys to success are adaptability, flexibility, and
some background cultural knowledge.
Firstly, establishing a personnel relationship with your colleagues and your boss is
common in Nigeria. Family and health are very important in Nigeria, you will talk about it with
your colleagues. Then, you have to avoid eyes contact when you’re speaking to superiors
and seniors. It could be taken as a sign of rudeness or even aggression.
Concerning the business card, there is no exact way or time to give it but you have to
take a moment to examine the business card.
Nigerians live and work at a more relaxed pace than western countries and
punctuality is valued. It is wise to schedule important meetings and call in the day before to
confirm and you have to be patient for doing business in Nigeria.
Nigeria is a multicultural country with different languages and customs. You have to
ask to ask co-workers about their background in order not to offend anybody by accident.
28 NIGERIA Country Analysis
D. SWOT Analysis
Strengths
• Fastest Growing oil, gas and
telecommunication sector
• Availability of young and active labour
force
• Member of the “Next eleven” countries
• Control of money supply
Weaknesses
• Lack of finance and capital resources
• Lack of power supply, road networks
and other infrastructures
• Inability to diversify its market
Opportunities
• High demand for products and services
• Economic and political improvements
create more opportunities and attracts
investors
• Oil and gas industry
• Telecommunications
Threats
• Instability in the North
• Corruption, frauds, scams
• Increase of the competition
E. Political risks
1) Corruption
Corruption is an usual word to an average Nigerian. Corruption is a dishonest or
illegal behaviour, especially of people in authority. It is an abuse of public office for private
gain which usually involves embezzlement of public funds, nepotism and falsification of facts
and figures…
Nigeria is considered as one of the most corrupted country in the world. According to
Transparency International, on the base of 215 countries, Nigeria is the 172th most corrupted
in the world in 2013.
Corruption is an important issue for the Nigeria because it has done incalculable
damages to every facets of the country. Indeed, it has undermine democratic institutions,
retarded economic growth and development and cause poverty in the mist of plenty, it has
prevented the country from making political, social and economic progress and ultimately
brought about high level of mass unemployment in the country. It has denied millions of
Nigerians access to education, housing, health, food and infrastructure.
29 NIGERIA Country Analysis
It is known that ascription and nepotism permeates job placement in both private and
public sectors. In the labour market today, which you know and how much you can pay
determines one’s chances of securing employment, rather than merit.
The government tries to reduce the corruption because it is attracting for investors.
Corruption may be the important issue the government have to work on because the country
has the capacities to become an important economy in the world thanks to its large market.
In 2050, Nigeria is going to be in the top 3 of the most populous countries in the world. The
government has to eradicate the corruption; it becomes a necessity.
2) Instability
Nigeria suffers from the instability in the North of the country. This instability is created
by an Islamic group, Boko Haram which means “Western education is forbidden”’. The
terrorist group is against the westernization of the Nigeria. They consider the Nigeria as a
country governed by an impious and corrupted government. Boko Haram has been waging
an insurgency in Nigeria since 2009.
The “Middle Belt”, middle area of the Nigeria is weak. It is the border between the two
main religions in the country: Islam and Christianity. The group try to stir up ethno-religious
violence in the area.
Over the past year, the number of terrorist attacks in Nigeria has almost doubled,
killing close to 3,500 people, according to the risk analysis group Maplecroft. Abductions
have been a common tactic of the group, which either holds hostages for ransom or sells
them as slaves. In April, they kipnapped more than 200 schoolgirls from Borno State. This
kipnapping is just one episode in a near-constant stream of violence by the insurgents.
In the past few weeks, attacks on villages, schools and churches in the northeast
have been relentless. On Wednesday, 19th November, Boko Haram attacked a village and
killed 48 Nigerian Fishermen.
The security situation continues to deteriorate, posing a growing crisis for Goodluck
Jonathan’s embattled government. The president has taken steps over recent weeks to
reinstate a degree of control.
Thus, Boko Haram destabilise the country and undermine its potential for inward
investments. It is really important for the government to take the control of the situation and
eradicate this terrorist group for attracting foreign investments. The situation depends on
30 NIGERIA Country Analysis
President Goodluck Jonathan's ability and commitment to achieving control over the
escalating tensions.
VIII) Major trading partners
A. China and Nigeria: a powerful South-South
Alliance
1) Overview
China is more and more involved in the African continent. The bilateral relationship
between China and Nigeria is evolving faster than any other China-Africa relationships. From
less than USD 2 billion in 2000, trade between China and Nigeria reached nearly USD 18
billion in 2012. It represents more 9 times its level just 10 years later. In 2012, China is the
principal importing partner of Nigeria, which represents 18,3% of its importation.
Between 2003 and 2009, Nigeria was a top destination for Chinese Foreign Direct
Investment on the continent. China is attracting by this country because Nigeria has vast
energy reserves and a large domestic market with more than 150 million inhabitants with
growing incomes.
China companies are making a foray into Nigeria’s manufacturing and information
and communication technologies sectors. They are building roads, railways and airport
across the country. For instance, China rail group signed $12 billion Nigeria deal on
Wednesday, 19th November 2014. It represents the country’s largest overseas contract.
2) Agreements
The two countries have 40 years of diplomatic
relations. Within the 15 last years, they signed 10
agreements (see figure 8). The two countries signed
agreements about investments in Nigeria, strategic
partnership and co-operation.
Nigeria Report 8 Agreements China-Nigeria
31 NIGERIA Country Analysis
3) Imbalance trade
The trade between Nigeria and China is
imbalanced. In 2010, China’s export to Nigeria
represented more than USD 15 billion whereas Nigeria’s
export to China represented only approximately USD 2.2
billion. Around 87% of Nigeria’s exports to China are oil
and gas products. China, exports a diversified range of goods to Nigeria like machinery,
equipment and manufactured commodities.
4) Telecommunications
Nigeria is an important market for the telecommunications and China companies
understood it quickly. That is why, Nigeria has become one of China’s most important
telecoms market. The two largest players in the country are ZTE (Zhong Telecommunication
Equipment) and Huawei. The key advantage of the Chinese companies is their competitive
pricing; Indeed, Huawei officials say its prices are 5 to 15 % lower than their competitors,
Nokia and Ericsson.
B. Nigeria-USA: a powerful Alliance
1) Overview
Since the restoration of democracy in Nigeria in 1999, the bilateral relationship has
continued to improve, and cooperation on many important foreign policy goals, such as
regional peacekeeping, has been excellent. Nigeria is the United States' largest trading
partner in sub-Saharan Africa.
U.S. assistance aims to help Nigeria to engage civil society and government partners
to battle corruption, increasing professionalism of the military and law enforcement agencies.
U.S. also invests in people by helping Nigeria address the fundamental health and education
needs to the popolation. Finally, U.S. help the economic growth of Nigeria by expanding
investment opportunities and improving the environment for agriculture and finance.
32 NIGERIA Country Analysis
2) Fight against Boko Haram`
Boko Haram is reponsible of the instability in the North of Nigeria. American
government has been supporting the Nigerian military against this terrorist group.The
Defense Departments of the USA are launching a $40 million Global Security Contingency
Fund for Cameroon, Chad, Niger, and Nigeria to counter Boko Haram. The program will
provide technical expertise, training, and equipment to the four countries to develop
institutional and tactical capabilities to enhance their respective efforts to counter Boko
Haram. The USA also provide information in the area of intelligence sharing, and other
measures in combating the insurgency
3) Balance trade
Total U.S.-Nigeria trade was valued at $18.2 billion in 2013. U.S. imports from Nigeria were
valued at $11.7 billion and $11.6 billion of which was crude oil. The exoirts to the United
States are not diversified because the non-oil exports represents only $100 million. Non-oil
Nigerian exports to the United States include leather, prepared vegetables, beans, cocoa
paste, spices, and cassava.
In 2013, U.S. exports to Nigeria were valued at $6.5 billion. Major U.S. exports to Nigeria
include mineral fuels, vehicles, wheat, machinery, and plastics. The stock of U.S. foreign
direct investment in Nigeria was $8.1 billion in 2012 with a growth rate of 53.6%.
4) Agreements
a. AGOA
AGOA is the African Growth and Opportunity Act. The objective of this agreement is
to expand U.S. trade and investment with sub-Saharan Africa, to stimulate economic growth,
to encourage economic integration, and to facilitate sub-Saharan Africa's integration into the
global economy. The AGOA was signed by President Clinton on May 18, 2000.
AGOA provides beneficiary countries in Sub-Saharan Africa with the most liberal
access to the U.S. market available to any country or region. It reinforces African reform
efforts, provides improved access to U.S. credit and technical expertise, and establishes a
high-level dialogue on trade. In January 2010, 38 sub-Saharan African countries were
eligible for AGOA benefits. The U.S. Government provides assistance to African
governments and businesses that are seeking to make the most of AGOA and to diversify
their exports to the United States. This agreement has helped to increase U.S. two-way trade
with sub-Saharan Africa.
33 NIGERIA Country Analysis
b. TIFA
TIFA means Trade and Investment Framework Agreement. It is an agreement
between the United States Of America and the government of the Federal Republic Of
Nigeria concerning the development of trade and investment relations.
The United States and Nigeria signed the TIFA in 2000. The TIFA Council serves as
a mechanism for regular, high-level dialogue on enhancing U.S.-Nigeria trade and
investment ties and improving coordination between the United States and Nigeria on
multilateral and bilateral trade and investment issues.
They often organize meetings concerning this agreement. The last meeting was on
March 2014. They discussed about improving market acces and the bilateral investment,
implementation of the new WTO Trade Facilitation Agreement…
34 NIGERIA Country Analysis
Conclusion Nigeria is a land of opportunities. Here are the reason why we have to invest in Nigeria:
Nigeria has a young population. The average age is only 18.2 years old. This is a
positivie point when it comes to obtaining labor forc for new businesses in the country. With
the expansion of the communication and internet in Nigeria, a youth population represents an
important market.
Nigeria belongs to the « next eleven » countries. It means that Nigeria possess a
great potential to become one of the world’s largest economy in 21st century according to
Goldman Sachs Investment Bank. Goldman chose the eleven countries based on their
macroeconomic stability, political maturity, openness of trade and investment policies, and
the quality of education.
Nigeria posseses a wide variety of different natural resources. Themain ressources
are oil and gas. Nigeria is the current 10th largest oil producer in the world. Nigeria under
exploit its natural ressources but if the country regulate correctly the oil industry and increase
its production, it will stimulate the Nigerian economy.
Nigeria represents a large market. In 2014, Nigeria is the African’s most populous
country with 177 million people and it’s going to be the third most populous country in the
world behind the USA with 444 million inhabitants. It’s going to create a high demand for
products and services.
35 NIGERIA Country Analysis
IX) Sources
1) History
Britannica. “Nigeria”. http://www.britannica.com/EBchecked/topic/414840/Nigeria. Web. 4th November 2014
Everyculture. “Nigeria”. http://www.everyculture.com/Ma-Ni/Nigeria.html. Web. 4th November 2014
2) Geography
Britannica. “Nigeria”. http://www.britannica.com/EBchecked/topic/414840/Nigeria. Web. 4th November 2014
Indexmundi. “Nigeria Country Profile”. http://www.indexmundi.com/nigeria/. Web. 4th November 2014
Cia. “Nigeria”. https://www.cia.gov/library/publications/the-world-factbook/geos/ni.html. Web. 4th November 2014
3) Demography
World bank. Nigeria Education. “http://www.worldbank.org/projects/P122124/nigeria-state-education-program-investment-project?lang=en”. Web. 5th December 2014
Theatlantic. “This Is Africa's New Biggest City: Lagos, Nigeria, Population 21 Million”. http://www.theatlantic.com/international/archive/2012/07/this-is-africas-new-biggest-city-lagos-nigeria-population-21-million/259611. Web. 24th November 2014
4) Culture
Britannica. “Nigeria”. http://www.britannica.com/EBchecked/topic/414840/Nigeria. Web. 4th November 2014
Everyculture. “Nigeria”. http://www.everyculture.com/Ma-Ni/Nigeria.html. Web. 4th November 2014
Joshuaproject. Hausa in Nigeria. http://joshuaproject.net/people_groups/12070/NI#. Web. 21th November 2014
Internations. “Business etiquette in Nigeria. “http://www.internations.org/nigeria-expats/guide/working-in-nigeria-15535/business-etiquette-in-nigeria-3 ». Web. 21th November 2014
5) Form of government
Senat. “Le Nigeria, incontournable géant de l’Afrique.http://www.senat.fr/ga/ga87/ga871.html. Web. 13th November 2014
Britannica. “Nigeria”. http://www.britannica.com/EBchecked/topic/414840/Nigeria. Web. 4th November 2014
36 NIGERIA Country Analysis
6) Economy
Economist. “Ever close”. http://www.economist.com/news/finance-and-economics/21591246-continent-mulls-merging-currencies-ever-closer. Web. 9th November 2014
Numbeo. “Nigeria”. http://www.numbeo.com/cost-of-living/country_result.jsp?country=Nigeria. Web. 15th November 2014
Forbes. “Nigeria growing away from oil”. http://www.forbes.com/sites/riskmap/2013/11/18/nigeria-growing-away-from-oil/. Web. 17th November 2014
Worldbank. “Nigeria”. http://www.worldbank.org/en/country/nigeria. Web. 14th November 2014
7) Doing business in Nigeria
Times. “Minimum Wage: Nigeria workers union gives Senate ultimatum”. http://www.premiumtimesng.com/news/top-news/170140-minimum-wage-nigeria-workers-union-gives-senate-ultimatum.html. Web. 17th November 2014
Brookings. “Youth Unemployment in Nigeria: A Situation Analysis”. http://www.brookings.edu/blogs/africa-in-focus/posts/2014/09/23-youth-unemployment-nigeria-akande. Web. 12th November 2014
Businessmonitor. “Nigeria”. http://www.businessmonitor.com/nigeria. Web. 22th November 2014
8) Major partners
Federal Republic of Nigeria. “Foreign Relations”. http://www.nigeria.gov.ng/2012-10-29-11-
05-46/foreign-relations. Web. 9th November 2014
Westafrica. “China and Nigeria: a south-south alliance.
http://www.westafricagateway.org/node/1681. Web. 9th November 2014
Amipnewsonline. “U.S. Efforts to Assist the Nigerian Government in its Fight against Boko Haram.” http://www.amipnewsonline.org/?p=5958. Web. 9th November 2014