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Nigeria

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Background

Following nearly 16 years of military rule, a new constitution was adopted in 1999, and a peaceful transition to civilian government was completed. The president faces the daunting task of rebuilding a petroleum-based economy, whose revenues have been squandered through corruption and mismanagement, and institutionalizing democracy. In addition, the OBASANJO administration must defuse longstanding ethnic and religious tensions, if it is to build a sound foundation for economic growth and political stability.

The oil-rich Nigerian economy, long hobbled by political instability, corruption, and poor macroeconomic management, is undergoing substantial economic reform under the new civilian administration. Nigeria's former military rulers failed to diversify the economy away from overdependence on the capital-intensive oil sector, which provides 20% of GDP, 95% of foreign exchange earnings, and about 65% of budgetary revenues. The largely subsistence agricultural sector has failed to keep up with rapid population growth, and Nigeria, once a large net exporter of food, now must import food. Following the signing of an IMF stand-by agreement in August 2000, Nigeria received a debt-restructuring deal from the Paris Club and a $1 billion credit from the IMF, both contingent on economic reforms. The agreement was allowed to expire by the IMF in November 2001, however, and Nigeria appears unlikely to receive substantial multilateral assistance in 2002. Nonetheless, increases in foreign oil investment and oil production should push growth over 4% in 2002.

Holidays
Jan 1 - New Year's Day
Jan 21* - Eid al-Kabir (Feast of the Sacrifice)
Mar 25-28~ - Easter
Apr 21* - Mouloud (Birth of the Prophet)
May 1 - Workers' Day
Oct 1 - National Day
Nov 14-16* - Eid al-Fitr (End of Ramadan)
Dec 25 - Christmas Day
Dec 26 - Boxing Day

Ps: Muslim festivals(*) are timed according to local sightings of various phases of the moon and the dates given above are approximations. Besides, the Festival's date(~) is also subject to change in every new year.

Phone Codes

Country Code: 234
Outgoing International Code: 009

Resources

Market Research

CIA - The World Factbook - Federal Republic of Nigeria
This website indicates a wide range of detail information about Nigeria by introducing under 8 different fields as its geography,people, government, economy, communications, transportation, military, transnational issues.

About Nigeria
There is available to find out Nigeria's general outlook on the issues of its social and business profile, passport/visa, money, accommodation, government, duty free, health and so forth.

African Business Information Service (AfBIS): Nigeria
The main objectives of Africa Business Information Services (AfBIS) are to provide online information on African economies by aiming to assist companies and individuals & to promote trade and investment in Africa.  

Business Services & Providers in Nigeria
Jidaw.com creates the directory of service and business providers in Nigeria which makes available to research business opportunities on a daily basis in Nigeria.

Nigerian Directories
This website dedicates to work on getting business contact in Nigeria for investors.

Nigeria Business
Mbendi serves as business oriented directory providing an ultimate African Business Source for the potential investors seeking new business opportunities in Nigeria including the list of industries for Nigeria.  

Embassy of Federal Republic of Nigeria, Washington--Methods of Conducting Business in Nigeria
This webpage supplies legal framework for business activities in Nigeria in order to support investors' initiatives in Nigeria.

Lex Africa: Business Guide: Nigeria
The African Law Firm Network examines Nigeria in order to get comprehensive business outlook for the potential investors seeking business opportunities in Nigeria.

US Commercial Service in Nigeria
US commercial service offers business service for Nigerian companies by listing significant websites related to trade and business in Nigeria.

U.S. Department of State: Country Commercial Guide: Nigeria
The country commercial reports are prepared annually by U.S. Embassies with the assistance of several U.S. Government agencies that basically offers a comprehensive outlook at Nigerian commercial environments, using economic, political, and market analysis.

World Trade Organization(WTO) : Nigeria
World Trade Organization(WTO) supplies the trade policy reviews of federal republic of Nigeria in order to display & evaluate the recent economic and business developments realized after introducing the economic improvement packages by WTO.

U.S. Department of State - Bureau of Consular Affairs - For Federal Republic of Nigeria
U.S. Bureau of Consular Affairs creates a wide range of research named as Consular Information Sheet about Nigeria in terms of analyzing its social, political, cultural & economic environments.

Trade Information

Selection of Websites - For Nigeria
Export Services creates a list of useful institutions, organizations, agencies and so forth related to export & business in Nigeria by providing contact information of the institutions, as well.

Embassy Listings For Nigeria
There are listed the embassies of the federal republic of Nigeria including the embassies' contact information.

 
 
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