Swot Analysis Of Nigeria

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Nigeria is a developing country located in West Africa. It is surrounded by Cameroon, Benin, Niger, and Chad. Its coast is bordered by the Gulf of Guinea. Nigeria has a population of 182.2 million (2015), and it is the most populous country in Africa and seventh in the world (wikipedia.com). Nigeria has a federal republic form of government. Their government is modeled after the United States. They are similar in that they both have executive power exercised by the president. The current president in office is Muhammadu Buhari. Nigerian law is composed of four systems: English law, common law, customary law and Sharia law (wikipedia.com). Nigeria is a middle-income nation that has a dual economy. Its economy
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Nigeria’s currency is called the Naira and it is freely exchanged in the country. One U.S. Dollar is equivalent to 158 Naira.

Equity Assurance is a company that has different sectors in the electricity, housing, and retail goods industries. We are looking to engage in the Nigerian economy using the distribution model approach. When we chose this strategy, our company sought to establish relationships with local distributors, who will sell the products in different regions of the country. Employing a native agent with a sufficient work space and networking channels for our supplies will greatly benefit us in the market. That will ease the process in dealing directly with Nigeria’s complicated legal environment, and our local connection will review the terms and conditions. Then the commercial attorney will negotiate in crafting an agreement that will benefit us all. In addition, as our business develops in Nigeria, we will have a greater flexibility in improving or redirecting our marketing efforts (export.gov). Now you might ask why Nigeria? Well, as the largest consumer market in Africa, the country has a population of about 182 million people. It also has a fast-growing economy and a brand-conscious consumer base. Furthermore, the rising of the middle class and the growing importance of retail business and strategic markets, Nigeria is a key market place for the future. To have a smooth market entry into Nigeria,
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