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Nigeria Country Research Essay

1179 words - 5 pages

Term Paper – Country Research: Nigeria

Nigerian Culture
Individualism vs. Collectivism
Prof. Geert Hofsteede’s model of cultural dimension helps to understand the culture indications in doing business with different cultures. According to this model, Nigeria is a low individualism ranked country (20 points), which means that is more collective culture with close ties between the individuals.
Masculinity vs. Feminity
The MAS dimension refers to the different role of the men and women within the society. Countries with low masculinity rank are more oriented at the equality between the genders and their role, control and power. Countries with high masculinity rank are more oriented ...view middle of the document...

Since the Government privatization of some sectors monopoly oriented, so now the country tries to promote and provide protection of the competition to their domestic market. At the present, Nigeria is on its way of developing a competition law.
Political/Legal Environment
The legal system in Nigeria is based on the English common law system, on Islamic law (in 12 of the northern states) and traditional laws. Nigerian governance system is democratic, consisting executive, judicial and legislative branches. The executive branch is occupied by the president, who is the head of the government and of the chief of the state. The legislative branch is presented by national assembly of 109 senators and House of Representatives consisting 360 representatives. The judicial branch is presented by Supreme Court, which is the highest court, but also by federal court of appeal, customary and sharia courts.
Nigeria was under Britain rule until 1960 when it gained its independence. After this it was in a period of military rule for about thirty years, with six changes of presidents. Because of the violent rule of the military, Nigeria dealt with huge corruption. It changed to a democratic elected government after this period. Nigeria still deals with corruption in its political and legal system, which makes it a part of the list of “Forbes Most Corrupt Countries”.
Technological Environment
Forty years after getting its independence, Nigeria still depends form the foreign nations in technological mean. Nigeria is technologically backward because of various reasons: before the British colonization the Nigerian nation was oriented in industrial and practical arts, which according to Akaninwor (2008) was problem for the colonialists and they forced the Nigerians not to develop in technological level; during the period of military rule the technology was mostly oriented of the weapons. There also many other reasons that indicate the low technological progress.
Economic Environment
Since 1999, Nigeria has considerable economic stability; its growth rate was increasing each year until 2007, when the oil prices were varied in global view. At the present, it is considered for of the most develop economies in Africa. Nigeria has many natural resources but the most important and profitable is the crude oil. In 2002, both oil and natural gas brought 98% of the exported earnings and 89% of the government revenue. Nigeria is part of the Organization of Petroleum Exporting Countries (OPEC) and 2003 its average production of crude oil was around 2.2 million barrels per day. Nigeria’s wealth is consisted also from tin, columbite, iron ore, coal,...

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