—This Country Recently Became Africa’s Largest Economy, by Melissa Cook

—Now It’s Too Big for Businesses to Ignore

From a market on Lagos Island, Nigeria, the skyline of the city of Lagos is visible. Among many companies, there is a great deal of nervousness around investing in Nigeria.

Nigeria has overtaken South Africa as Africa’s largest economy. And with over 200 million people, it is the largest market in the continent, its population nearly twice the size of Ethiopia (110 million) or Egypt (102 million).

Yet among many companies, there is a great deal of nervousness around investing in Nigeria. One business development officer of a large company told me recently: “We’re not in Nigeria; one of our guys heard you can’t go there.”

This kind of second hand hearsay is a risky way to make proper business decisions. When firms make what we refer to as accidental decisions—those based on media reports or anecdotal evidence—it is hard to effectively quantify and manage risks.

Nigeria is definitely a ........

Read more here:http://ybtcnews.com/2019/06/17/this-country-recently-became-africas-largest-economy-now-its-too-big-for-businesses-to-ignore-by-melissa-cook/