Nigeria is a country of extremes. The most populous country in Africa — seventh in the world, with a projected economic growth rate of approximately 7%, far surpassing that of the United States at about 3% — Nigeria is a nation that presents vast financial opportunities.
But international corporations are forced to weigh the potential for hefty profits against the ever-present danger of operating in a country that tops the corruption index. Foreign (i.e., non-Nigerian) companies have reaped billions in profits from investing in Nigeria, and they have also shelled out more than a billion dollars in recent fines for bribing Nigerian government officials. Unfortunately, the words “Nigeria” and “corruption” have become inexorably linked in the collective corporate consciousness.
