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International

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NIGERIA Country Description | Cultural * Major Languages: English (Official Language), Hausa, Igbo, Yoruba. * Religion: Christianity and Islam. * Nigeria is a multinational state. It has more than 500 ethnic groups.Administrative. * Nigeria has maintained its political stability successfully. * Three distinct systems of law in Nigeria: Common Law, Customary Law and Sharia law.Geographic * Nigeria is a costal country, so it has access to the shipping routes. * Inadequate infrastructures for logistics and supply chain.Economic * High potential for growth in economy. * Significant Difference in income levels between rich and poor. * Abundance of workforce. * Untapped market. | Relative Importance | With reference to Essential Business Requirement of COSTCO, we evaluated the significance of the four factors: * Culture *** | * Administrative **** | * Geographic **** | * Economic ** |
{key: (****-Most significant) - (*- Least Significant)} | Business Challenges | * Culture * Nigeria has local informal retail shopping market. Significant difference in culture (high context). * Variety of people from different cultures, challenge to please each one. * Administrative * It has an inefficient property registration system. * Government has restrictive trade policies. * Geographic * Inadequate infrastructure. Difficult to reach out to rural customers. * Economic * Regional disparity affects target customers. * Presence of a rival (Shoprite) with a developed distribution network. | Business Opportunities | * Culture * Cultural Similarity with other African countries. If successful in Nigeria, company can expand further in Africa’s untapped market. * Live in large families so its beneficial for Costco wholesale model. * Administrative * Government is investing heavily on improving the infrastructure.

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