National Risk Analysis Report - Nigeria

< p > strong > country trade risk index (ERI):96.26 < /strong > /p >

< p > < strong > national risk reference rating: 8 (8/9) level < /strong > /p >

< p > < strong > national risk Outlook: stability < /strong > < /p >

< p > < strong > < /strong > < a > href= > http://www.91se91.com/news/index_c.asp > > strong > trade risk > /strong > /a > /p >

< p > Nigeria is the largest economy in West Africa. Its natural resources are abundant, its economic potential is huge, and external payments are more secure.

Nigeria's business environment is slightly higher than that of sub Saharan African countries. However, in recent years, there has been no substantial improvement, reflecting the difficulty of promoting market-oriented reforms and improving government governance.

Petroleum is a pillar industry in Nigeria. The development of other industries is lagging behind.

Under the direct pull of the petroleum industry, the average economic growth rate of Nigeria over the past 10 years has exceeded 7%.

However, oil production and sabotage activities in oil producing areas are rampant, and crude oil production in Nigeria has continued to decline since 2006~2009 and 2012.

Affected by the shrinking oil and gas industry, the non oil and gas industry has become the main driving force for economic development in Nigeria. The telecommunications service industry, foreign trade industry and infrastructure construction are particularly eye-catching.

In 2012, Nigeria's nominal GDP was $2790, GDP per capita was US $1640, and the real economic growth rate was 6.7%.

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< p > < strong > > a href= "http://www.91se91.com/news/index_c.asp" > bilateral trade < /a > /strong > /p >

< p > since the establishment of diplomatic relations between China and Nigeria in February 10, 1971, friendly cooperative relations have developed smoothly and bilateral mutual trust has been continuously strengthened. In recent years, there has been no significant diplomatic friction between the two countries.

The deepening of Sino African cooperation has created a favorable external environment for bilateral economic and trade development. The rapid development of the two economies has broadened the space for bilateral trade development.

The two countries have signed agreements on trade, economic, technological, technological cooperation and investment protection. They have signed a double taxation agreement signed by the economic and Trade Commission, which provides protection for bilateral economic cooperation.

Chinese enterprises took an active part in infrastructure construction and resource development in Nigeria, and promoted the rapid growth of exports of communications equipment, power plant equipment, steel products, aluminum profiles and other products to Nigeria.

Nigeria has now become China's fourth largest trading partner and second largest export market in Africa. China has built two trade and economic cooperation zones in Nigeria, namely, the Lai Ji free trade area and the Gong Gang free trade area.

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< p > < strong > business environment < /strong > /p >

< p > the overall business and investment environment of Nigeria is slightly better than that of sub Saharan African countries.

In sub Saharan African countries, Nigeria's banking and financial industry are relatively well-developed, with well-organized organizations and management institutions, but financial fraud happens frequently; poor infrastructure such as pportation, communications, electricity and water supply, especially the serious shortage of electricity supply, has become a bottleneck in the development of the manufacturing industry; labor productivity is low, production costs are high, skilled labor shortage, industrial system is incomplete, supporting supply capacity is poor, the tax system is complex or even distorted, and has a negative impact on foreign investment. The government is working to solve the double taxation problem that directly affects investment inflows and the ineffective tax collection.

Although Nigeria's legal system is relatively complete, from the perspective of legal practice, Nigeria's litigation procedures are time-consuming and costly, judicial corruption is widespread, judicial interpretation is arbitrary, and judicial justice is repeatedly criticized.

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< p > < strong > total < a href= "http://www.91se91.com/news/index_c.asp" > risk assessment < /a > /strong > /p >

Generally speaking, the political situation in Nigeria has remained stable and the democratic process has continued to advance, but the stability of the political system is poor. P

At the same time, corruption in Nigeria is deep-rooted, the gap between the rich and the poor is very wide, the unemployment rate remains high, social security is chaotic, and vicious crimes are frequent.

Nigeria is the largest economy in West Africa, with abundant natural resources, huge economic potential, long-term current account surplus, low external debt level and more secure external payments.

However, Nigeria's economic development is also faced with many bottlenecks: Nigeria's infrastructure is backward, and the power supply is seriously insufficient; the government's financial expenditure capacity is limited by public services, and its administrative efficiency is not high and corruption is serious.

Nigeria's business environment is slightly higher than that of sub Saharan African countries. However, in recent years, there has been no substantial improvement, reflecting the difficulty of promoting market-oriented reforms and improving government governance.

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