Doing Business in Nigeria: International Perspectives

The purpose: The paper explores the socio-economic and political environment of Nigeria. The West African country gained her independence on the 1^st of October 1960, and is considered as one of the largest economies on the African continent. Design/Methodology/Approach: The research design employed is the qualitative research methodology. Review of existing publications such as journals, newspaper books etc. was carried out. Findings: Nigeria has a high rate of unemployment, and a large portion of the population lives in poverty. Corruption, policy hazards, and political risks are all significant in the country. Despite the opportunities, corporate investors are wary of the high risks associated with conducting business in Nigeria. Research Limitations: Qualitative methodology requires more time to review a good number of publications. One of the limitations of this research is time. Managerial Implication: This paper provides comprehensive analysis of Nigeria’s socio-economic and political environments. Thus, the paper should be useful to investors who plan to invest in existing companies in Nigeria or start up a new business in Nigeria. It highlights the opportunities and the risks of doing business in Nigeria. Originality/Value: This paper is an exploration of Nigeria’s socio-economic environment and Nigeria’s political environment, Foreign Direct Investment (FDI) environment and regulations, financial and fiscal policies, and most other important aspects of the country that should be considered before doing business in the country are critically reviewed in this paper.