Ranking and market share of top 5 goods* exporters into Nigeria

UK businesses are well placed to succeed in Nigeria The UK’s importance in Nigeria has been sliding. Since 2000, the UK has fallen from 1st to become only the 5th largest non-oil goods exporter to Nigeria behind China, US, India and Germany (see Figure 1). Similarly, the UK’s share of the FDI stock in Nigeria has decreased from close to 7% to less than 2% between 2005 and 2014.

The UK’s decline can be attributed to the growing importance of China and India in global trade, and an apparent decline in the UK’s competitiveness relative to its developed economic rivals, most notably Germany. The German government appears to have been more effective at using closer cooperation at the ministerial level and trade delegations to bring together German and Nigerian businesses.

UK businesses remain well placed to succeed in Nigeria because of its familiar legal system, strong ties through the diaspora community, and the perception that UK brands offer high quality.

 

About Christopher Ezeadichie 3363 Articles
Ezeadichie Onyeka Michael is the Co-Founder of Haelsoft, a Professional Services Company in Nigeria that provides Information and Technology Services for small and big size companies in Nigeria(Africa). He is an Entrepreneur and Venture Capitalist with Expertise in Web Technology and Digital Marketing. He has developed & Implemented Digital Marketing Strategies(Campaigns) for top brands across sectors in Finance, Telecommunication, Ecommerce who operate in the African market. His professional experience includes key roles at Google Business Group(Nigeria), Google Women on the Web (Nigeria), Edubridge Consultant and Wild Fusion where he has trained over 500 Entrepreneurs on how to use various Web Technology products to succeed online. Customer centricity, User Experience, Conversion optimization are 3 pronged framework he applies around the often-frenetic world of web analytics to ensure that clients stay competitive in the market. He believes that investing in talent is the key to long term success for brands across Nigeria (Africa).

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