The U.S. Commercial Service, the trade promotion arm of the U.S. Department of Commerce International Trade Administration confirms that

“Prospects for U.S. business in Nigeria are especially promising in the following sectors:

• oil and gas equipment,
• healthcare services and medical equipment,
• electrical power generating equipment,
• computer hardware/software,
• telecommunications equipment,
• automobile parts and accessories,
• construction, and earth moving equipment,
• agricultural products and equipment, and
• franchising.

Nigeria is Africa’s most populous country with a population of over 150 million. This makes one in every six Africans a Nigerian. It is also one of the largest oil producers on the continent creating huge inflows of foreign income. Thus, Nigeria holds enormous commercial potential as recent administrations have focused on developing the non-oil economy and tackling corruption and red tape.

There is no restriction on foreign nationals or foreign entities doing business in Nigeria, however, they must incorporate a local vehicle before commencing business. Companies are set-up through and regulated by the Corporate Affairs Commission.

• Nigerian Investment Promotion Commission
• Nigerian Export Promotion Council

U.S. companies should be assured that many genuine business opportunities exist in Nigeria. Most Nigerians are positively disposed toward the United States and have a strong affinity for U.S. products. Nigeria has many honest businessmen and women eager to form partnerships with U.S. counterparts. If U.S. business travelers prepare prudently, a business trip to Nigeria can be a profitable and rewarding experience.