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I am not an expert on the field but as far as I heared from my friends who do business down there the country has a huge problem with corruption. It goes throug
by Bjoern 16y ago
I am not an expert on the field but as far as I heared from my friends who do business down there the country has a huge problem with corruption. It goes through all levels of the entire system.
- patrickk 16y agoI heard anecdotally that a Nigerian guy was trying to raise money on Dragon's Den for a new venture in Nigeria (http://www.bbc.co.uk/dragonsden/ http://www.bbc.co.uk/dragonsden/) and that he had like £5000 per month down for "Bribery Expenses". The dragons laughed but admired him for his straight up attitude (they didn't invest). See the Excel sheet here: http://www.doingbusiness.org/documents/Simulator_2010.xls http://www.doingbusiness.org/documents/Simulator_2010.xls Nigeria is ranked 125th in the world for ease of doing business. One of the requirements for a good business environment is stable, largely non-corrupt government, which is obviously lacking in Nigeria.