Nigeria For Business Visitors
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A business trip to Nigeria should include
a courtesy call to the governor's office.
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The business environment in Nigeria has vastly improved from what it used to be prior to 1999. Many
infrastructural problems still remain - power supply is still inadequate, rail transport is almost
non-existent - yet significant and wide-ranging reforms have taken place. There have been heavy investments
of oil revenues in infrastructural revival, significant economic and institutional reforms. These changes
make Nigeria very conducive for private business investment.
The financial market is robust, led by a strong banking sector, just emerged from rigorous reforms that
produced fewer but far stronger banks.
In 2008, the World Bank ranked Nigeria 108 out of 178 countries rated on ease of doing
business. According
to the UN-published "Doing Business in Nigeria" report for 2008, government reforms have resulted in improved
processes for new business registration, contract enforcement and judiciary.
Many state governments are willing to go further than the Federal government to attract foreign investors to
their state.
Potential business investors in Nigeria should take a look at individual states and their governments'
business and investment policies. A business trip to Nigeria should include a courtesy call to the governor's
office.
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