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Are you ready to move to Nigeria?
- 1. Are You Ready To Move To Nigeria? Rob Serman | Prince Mingle | Ingrid Catlin Cross-Cultural Management We have neither given nor received aid on this assignment.
- 2. Agenda • Background • Culture • Business • Preparing for Nigeria • Social Interactions • Business Interactions
- 3. Background – Key Historical Events 11,000 BC Earliest settlers are known in Nigeria AD 1851 British capture Lagos AD 1901 Nigeria becomes part of the British Empire AD 1960 Nigerian gains its independence AD 1963 Nigeria becomes a Republic AD 1967 Civil war AD 1983 1 million foreigners deported AD 1988 EU imposes sanctions against country AD 2000 Sharia Law in effect in northern states AD 2002 Start of two years of ethnic clashes AD 2003 First satellite launched AD 2011 UN headquarters attacked by Boko Haram
- 4. Background – Geography • Largest country in West Africa (roughly twice the size of California) • Neighboring countries are Benin, Niger, Chad and Cameroon • Average temperature is 84° in February and 77° in July • Two seasons: dry (October to May) and wet (June to September)
- 5. Background – Economy • Largest economy in Africa, with a GDP of $545 billion • Member of the African Union • Labor force: 75 million people • Unemployment: 7.5% • Primary industries include agriculture, mining and oil
- 6. Culture – Life, Religion and Politics • Population: 186 million • Life expectancy: 52 years • Primary language is English; secondary languages include Pidgin English, Hausa, Yoruba, Igbo and 250+ other languages • 90% of the population is either Muslim or Christian (in equal amounts) • Government modeled after United States; president is head of state • Excessive reforms over the last decade against ongoing corruption
- 7. Cultural Snapshot – Film • Film industry began in 1920s • Rapid growth after independence; explosion after development of home video in 1980s • Films feature familiar themes and Nigerian cultural attributes, clothing, slang and locations • “Nollywood” term coined in 2002 (after Hollywood and Bollywood) • Third most valuable film industry in the world after United States and India • Second largest film industry in the world (in terms of output) after India
- 8. Culture – Arts, Literature and Media
- 9. Business – Imports and Exports Top 10 Imports (2015) Oil USD $7.8B Machinery USD $6.4B Electronics USD $4.7B Vehicles USD $4.3B Plastics USD $2.1B Cereals USD $2.1B Iron/Steel Products USD $2.1B Pharmaceuticals USD $1.1B Iron and Steel USD $1.1B Fish USD $813.7M Sources: http://www.worldstopexports.com/nigerias-top-10-imports/ http://www.worldstopexports.com/nigerias-top-10-exports/ Top 10 Exports (2015) Oil USD $94.9B Cocoa USD $705.6M Oil Seed USD $278.4M Raw Hides (excl. fur) USD $268.5M Ships/Boats USD $213.4M Copper USD $174.2M Rubber USD $166.3M Aluminum USD $157.1M Ore/Slag/Ash USD $137.1M Wood USD $101.4M
- 10. Business – Imports and Exports (cont.) Top Import Origins China United States The Netherlands Belgium India Source: http://atlas.media.mit.edu/en/profile/country/nga/-exports/ Top Export Destinations India United States Brazil Spain The Netherlands
- 11. Business – Top Companies
- 12. Business – Foreign Direct Investment • 2015 FDI was $3.4 billion, down 27% from 2014 due to falling oil prices • The Nigerian government encourages FDI through incentive programs in industries deemed beneficial to the economic development of the country. • What makes Nigeria attractive for FDI? • Most populous nation in Africa • Has the continent’s second largest oil reserve • Inexpensive workforce. • What are some concerns about FDI in Nigeria? • Economic reliance on the volatile petroleum industry • Poorly developed infrastructure • Government corruption • Multiple layers of taxation • Presence of extremist group Boko Haram
- 13. Business – Hofstede’s Dimensions Power Distance High Individualism Low Masculinity Medium Uncertainty Avoidance Medium Indulgence High
- 14. So you want to work in Nigeria? Requirements and the Visa Process • You must provide proof of employment at company based in Nigeria. • Employer must provide Expatriate Quota approval from government. • Through the Nigerian immigration website, apply for a Subject to Regularisation (STR) visa for residency. • After STR is approved, apply for work permit or green card.
- 15. In a Social Setting – Do It • Greet people with “hello/good morning/good afternoon/good evening, sir/madam.” • Remove your shoes in any private home. • Accept whatever beverage is offered by the host in a private home. If not offered, you can request something. • If you’re hosting, always offer a beverage. • Respect the older people with whom you interact. • If someone dies, spend all of your time with the bereaved family.
- 16. In a Social Setting – Don’t Do It • Put your needs above those of the collective group or community. • Speak out of turn. • Avoid small talk. It is considered respectful to ask about someone’s health and family before anything else. • Get drunk. This is strongly frowned upon, although drinking socially is common.
- 17. In a Business Setting – Do It • There are two ways of greeting people: • Men: Salute and handshake • Women: Curtsy • After greeting, state the purpose of your visit. • Negotiate. It’s expected and accepted. • Make yourself available for a few days after a negotiation has ended, as “yes” can turn into “maybe” on a whim.
- 18. In a Business Setting – Don’t Do It • Rush the greeting. Make time for small talk. • Speak out of turn. You should wait until someone of a higher level asks for your opinion. • Avoid negotiation. • Be impatient. • Write someone’s name in red ink, as this implies they are dead.
- 19. Additional Tips • Get your shots before you go! • Hepatitis A • Malaria • Polio • Typhoid • Yellow Fever • Avoid drinking tap water. • Exercise caution when trying street foods. • Stay in Lagos or Abuja and try to avoid major government or religious gatherings. There has been an increase in • Suicide bombings • Kidnapping • Pirating • Avoid going out at night unattended. • Stock up on toilet paper/tampons. • Housing is very expensive. If your company doesn’t pay for it, budget accordingly.