Nigeria State and Markets Report 2022: Market Thought Leadership, Business Innovation and Growth Strategies, and Non market Focused Enterprise Strategies

The “State and Markets” publication covers four broad areas:

Market Thought Leadership, Business Innovation and Growth Strategies, and Non market Focused Enterprise Strategies.

Market thought leadership initiatives cover pricing, market organisation, and regulation and competition issues. On the innovation strategy end, the focus is on delivering product insights and improvements, as well as solid business transformation solutions. This generally complements growth strategy offerings woven around business internationalisation, financing, learning and capacity development.

Consistent with that focus, the ‘State and Markets’ publication primarily aims at strengthening regulation and competition. Other complementary objectives of this publication are to determine the impacts of government policies and regulations on the performance of product markets in Nigeria, Nigeria’s regulatory quality, governance, effectiveness, and burdensomeness of each of the three kinds of government regulations, namely: [a] the legal framework regulations; [b] market regulations; and [c] general economic regulations. The publisher also investigates the extent to which each of these kinds of regulations, among other things, affect the drivers of product market performance.

In conclusion, the report submits that the government needs to make more efforts to ease market entry conditions. Many states, mainly in the Southwest geopolitical zone and the federal capital territory, have made significant progress in the one-stop shop for business registration. Other states should cue from this and lessen the challenging market entry conditions. Without lowering the operational costs faced by financial institutions, it may also be challenging for banks to make the cost of credit much lower than currently.

Key Topics Covered:

1.0 About this report

2.0 Impact of government policies and regulations on the performance of product markets in Nigeria in 2021

3.0 Nigeria’s regulatory quality, governance, and effectiveness in 2021

4.0 Effects of State regulations on the drivers of product market performance in 2021

5.0 Overview of Business Regulations
5.1 Section summary
5.2 Number of regulatory documentation requirements
5.3 Number of regulatory institutions
5.4 The revenue cost of regulation to firms
5.5 Regulator bribing
5.6 Days to comply with regulator requirements
5.7 Ease of obtaining business licences and permits

6.0 Market Entry Regulation
6.1 Section summary
6.2 Number of steps to business commencement approval
6.3 Business commencement regulatory compliance costs
6.4 Cost of clearing a container
6.5 Top ten export challenges
6.6 Top fifteen import challenges
6.7 The severity of foreign ownership/investment restrictions
6.8 Quality of judicial processes at an industry level
6.9 Days to resolve an industry-based contract dispute
6.10 Market/trade union influence on the industry

7.0 Credit Market Regulations
7.1 Section summary
7.2 Ease of access to financial sector credits
7.3 Three most important sources of credit
7.4 The interest rate on a 90-day borrowed facility

8.0 Labour Market Regulations
8.1 Section summary
8.2 Effective minimum wage
8.3 Effect of prescribed minimum wage on new hires
8.4 Awareness of laws governing the hiring and firing of workers
8.5 Rates of compliance with laws on the hiring and firing of workers

9.0 Regulatory Burden Index
9.1 Section summary
9.2 Awareness of any law protecting the abuse of borrower’s rights
9.3 Transparency of regulator’s dealings
9.4 Additional rules and regulations in 2021

10.0 Government Effectiveness
10.1 Section summary
10.2 Quality of infrastructure provision
10.3 Regulatory effectiveness

11.0 Business Performance
11.1 Section summary
11.2 Workforce hiring and firing
11.3 Revenue and profitability growth

 Companies Mentioned

For more information about this report visit https://www.researchandmarkets.com/r/370319

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