Nobody downloaded yet

Nigerias Business Environment - Essay Example

Comments (0) Cite this document
Small and medium business enterprises (SMEs) form the backbone of economy for any nation. Large multinational corporations are necessary for exploiting natural resources and manufacturing and marketing fast moving consumer goods. However, it is the SMEs who play a pivotal role in sustaining the economy through thick and thin.
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER97% of users find it useful
Nigerias Business Environment
Read TextPreview

Extract of sample "Nigerias Business Environment"

Download file to see previous pages Misrule compounded by corruption and uncertainty are wrecking chances for development in Nigeria (Iba, Louis; 2009).
The image of Nigeria is one of poverty and anarchy. This is largely due to unemployment and political uncertainty. Except for oil and gas the country is known for little else although natural resources are in abundance.
Population below poverty line is shown as 70%. The country keeps showing results and returning to shambles in turns. Nigeria has not shown consistency in economical reforms although it has made attempts to project oil and other natural resources for potential foreign investments (Doing Business in Nigeria, 2007).
There is inconsistency in the business environment. It has not shown any progress in clearing IMF debts. IMF had instructed stringent measures to revive economy that included reforms in the banking sector (Nigeria Economy 2010).
Well-informed Nigerians rue the years of instability since the 1950s when oil was discovered in Nigeria. However, people are poor and spend more time on earning for their daily necessities. Revenues from oil are spent on balancing for various loans taken for infrastructure.
Talking of infrastructure, the country's aspirations for establishing railway network has not resulted in any concrete action. This has given rise to facilitating transportation by roads. However, majority of the roadways are in poor shape resulting in traffic snarls.
The civilian government of the day is doing all it can to project the country as a safe and conducive destination for business. However, their clarion call is not yielding the desired effects. Western powers are cool to investing in a nation where political status is still seen as unstable (Nigeria Economy 2010).
Western economies have shied away from directly doing business in Nigeria leaving it to Asians. Asians have been more forthcoming from the 1970s and enjoyed the fruits of doing business in Nigeria. Japan has showed some interest in doing business in Nigeria (Bala, Dr Julius J; 2003).
Today, Nigeria is a progressive economy. However, the country is experiencing setbacks so it is unable to meet projected economical targets. The country needs to act on its initiatives for economical turnaround with gender-based schemes to attract greater foreign investment and participation (Nwoye, May; 2007).

In spite of the political and economic status, Nigeria has a vibrant and innovative population. It is this effervescent attitude that provides the best hope for appropriate business environment in a country torn by decades of mistrust among its two main communities Islamic and Christianity.
Business Prospects in Nigeria
When President Olusegun Obasanjo was sworn in on 29 May 1999 his reformative measures instilled confidence and attracted foreign investments. Obasanjo quietly ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
(“Nigerias Business Environment Essay Example | Topics and Well Written Essays - 1250 words”, n.d.)
Nigerias Business Environment Essay Example | Topics and Well Written Essays - 1250 words. Retrieved from
(Nigerias Business Environment Essay Example | Topics and Well Written Essays - 1250 Words)
Nigerias Business Environment Essay Example | Topics and Well Written Essays - 1250 Words.
“Nigerias Business Environment Essay Example | Topics and Well Written Essays - 1250 Words”, n.d.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Nigerias Business Environment

Business Environment

...? Analyzing Business Environment Business Environment Introduction In the current technology oriented business world, cost control is the prime objective of all the organizations working across various industries from project management firms to insurance companies (Barker 1996). These organizations are attempting to minimize their operational and management costs through the implementation of digital inventory management systems along with just in time production concepts (Granados, Gupta, & Kauffman 2005). The trend of minimizing the costs to offer a product at a reasonable price was introduced by the Chinese firms few decades ago, through mass...
5 Pages(1250 words)Essay


...and gas and delay the development of the projects like the LNG project (U.S. Energy Information Administration, 2012). However, the gas production is also expected to increase from 35 billion cubic metres in the year 2010 to 59 billion cubic metres by 2015 (Akinsipe, n.d.). The consumption of the gas is also expected to rise and reach to around 26 billion cubic metres by the end of the period for which the forecasting has been done (Akinsipe, n.d.). However, this rise in the consumption will lead to an export of not more than 33 billion cubic metres (Akinsipe, n.d.). This is a major threat for the export business of liquefied natural gas (LNG) of Nigeria unless some fresh supplies of LNG are located or...
20 Pages(5000 words)Term Paper

Business Environment

...? BUSINESS ENVIRONMENT A healthy business environment requires an efficient organizational structure, that is, healthy current leadership and management, effective planning, excellent service and product expansion, and well-organized financial and marketing strategies (McNamara 1999). Therefore, these elements form system within the overall systems, and for maximum efficiency, each system within the overall organizational structure has to function at its best, for the organization to achieve its mission and objectives. Consequently, a business environment involves the integration of various internal and external elements that enable the daily functioning of the organization (McNamara 1999). These elements may include leadership... and...
5 Pages(1250 words)Essay

Business Environment

.... Lower consumer disposable incomes. Tighter credit would affect financial services and property markets. Political Recent study by U.K. Competition Commission came up with positive findings and goodwill for the industry that the bigger stores can capitalise on. Possible political pressure for greater industry consolidation will be good for bigger stores. Continued government supervision and control pressures to guarantee that no single supermarket becomes too big to be dominant. Local governments want to protect their small and/or local businesses against big national stores. Sources: (1) Strategic Assessment (2008); (2) U.K. Supermarket Analysis (2007); (3) J Sainsbury Annual Report (2008); (4) BBC (2008); (5)...
4 Pages(1000 words)Essay

Business Environment

...Business Environment Introduction: The business environment deals with the entire business operations and the background of the business which shapes them directly and indirectly. Various factors shaping the business environment are the macro and the micro factors in the organization. The macro and the micro factors are those that deal with the external and the internal factors of the firm. The main constraints of the business environment are the government policies, principles, national rights and the constitutional laws. The business...
11 Pages(2750 words)Essay

The Human Rights dimensions of International Petroleum Transactions

...companies realized that business and protection of human beings is necessary to create conducive environment to carry on their businesses. The following publications may provide the readers an insight of corporate responsibilities of International Companies towards protection of human rights in their area of operations: a) Corporations and Human Rights, b) Crackdown in the Niger Delta, c) Human Rights Violations In Nigerias Oil Producing Region, d) The Price Of Oil: Corporate Responsibility and Human Rights Violations in Nigerias Oil Producing Communities and e) The Enron Corporation: Corporate Complicity in Human Rights Violations3. The year 1994 is...
2 Pages(500 words)Article

Business environment

...Business Environment Market structure explains the strategies adopted by the firms in the market explainedby the different features. There are several market structures which are discussed below. A perfect competitive structure is one that there suppliers and purchasers are many in the market for the good. The decisions of an individual do not affect the market. The marketplace prices are dictated by the powers of demand and supply where the equilibrium price is agreed by the connection of demand curve and supply curve. The price is set at MC = MR =P =AR=AD as below indicated. Features are, many buyers and sellers, free entry and exit, homogeneous products, factor mobility and perfect information...
1 Pages(250 words)Coursework

Business environment

...organizations in an innovative way. For example, if there is a technological change in market, organization must consider it resources in order to meet that change. Change in consumer perception force organizations to have competitive marketing strategy. This response of competitive marketing strategy allows organizations to change customer’s perception through appropriate application of strategies and market research. 3.3Businesses and Cultural Environment and Organizational Behavior Unilever, an international organization, has been chosen toobserve the impact of business and cultural environment on the behavior of the organization. In order to scan the business...
13 Pages(3250 words)Essay

Business Environment

...Comparison between Waitrose Ltd., & Albam Contents Introduction 3 Development 3 Conclusion 4 References 5 Introduction The assignment is based on comparison of business ownership between two firms that are Waitrose Ltd, a British supermarket chain and Albam, a small British food retailer. The Waitrose is a food retail chain and is a division of John Lewis Partnership which is the biggest employee owned British retailer. Development Waitrose is a subsidiary firm of a renowned supermarket chain of United Kingdom. The business ownership model of this organization is based on the concept that there is a parent company which controls all the operation of this organization. It has got its branches across...
2 Pages(500 words)Essay

Multinational Oil Companies and the Human Rights Dilemmas

...and the threat of boycotts--first, because of Shell UKs proposed action to dispose of the Brent Spar, an enormous superannuated oil storage and loading platform, in the deep waters of the North Atlantic; and later, because of Shells failure to take a high-profile public stance against the Nigerian government, Shell Nigerias local business partner, when it executed nine Ogoni environmentalists including Ken Saro-Wiwa, an internationally acclaimed journalist and writer who had spearheaded protest against Shell. These incidents engaged the company and its critics in "language games" (Wittgenstein, 1958, quoted in Mauws & Phillips, 1995, P. 332), or discursive contests, over the environment...
26 Pages(6500 words)Term Paper
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Essay on topic Nigerias Business Environment for FREE!

Contact Us