Embedded Files
Catherine Nolde
Business Fellows: Marketing, Management & Biology
Chidi Okeke
Management Information Systems & International Business
Lauren Hofmann
Marketing & Film
Management & International Business
Team Goals and Objectives
Create new opportunities for American exports to a future major global market
Enter the Nigerian with the intent of sales in Nigeria's major industry - oil production
Provide much needed products to benefit the Nigerian economy
Why Nigeria?
A New Place of Steady Oil Production
A New Place of Steady Oil Production
Aggression towards the West, wars, and economic manipulation all are problems currently being dealt with regarding oil/natural gas imports.
This dependency on large producers such as Russia, Saudi Arabia, and the current considerations of Iran and Venezuela by the US/Europe are leading world leaders and major oil companies to look for safer and friendlier alternatives to the current leading oil producers.
Nigeria can fill this new need and further contribute to the diversification of oil imports for the US and other countries.
An African Superpower
An African Superpower
Nigeria's future potential is enormous. Being relatively underutilized and underinvested so far, Nigeria has the potential to become a major economic power if the right steps are taken. Some of the reasons for this belief are as follows:
Currently the largest economy in Africa (GDP)
Population Boom: Set to pass the US by 2050
Lots of Potential for Future Investment
For more information on this, see the Market Selection section
Infrastructure
Infrastructure
Land transportation:
Roads convey about 80% of all traffic, though they are poorly maintained
There is about 7,398 km of rail though it has proven to be inefficient for travel
Air Travel
There are 5 international airports in Abuja (the Federal Capital Territory), Lagos, Kano, Enugu, and Rivers states
22 others are used mainly for local travel
Pipelines
About 4226 km. (2626 mi.) of pipelines run across the country
Refineries
The NNPC has 4 refineries which have a combined capacity of 445,000 bpd but Nigeria imports 91% of consumed petrol
There is a growing industry of illegal refiners which provide a ready market for stolen crude oil trade.
Market Research
Market Research
Oil Facts
Nigeria is the 11th largest oil producer in the world
Value of petroleum exports: ~$28 billion
Oil Production: ~2 million barrels produced daily (2015-2019)
Population Boom
Population of 196 million people and a daily petrol supply need of 51.6 million liters.
With the country’s population expected to hit 410 million people by 2050, Nigeria’s government should expect a significant surge in local demand for petroleum products, including jet fuels, petrol, diesel, and kerosene.
Major Market Players
Nigerian National Petroleum Corporation (State Owned)
Most major international petroleum companies (ie. Chevron, ExxonMobil, Shell)
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