Foreword-1

‘Nigeria: A Business Manual’

My long abiding faith in Africa’s economic potential finally got realised when Bharti Airtel acquired Zain’s 15 telecom operations in the continent in 2010. Nigeria happened to be the largest of them all, accounting for more than 30% of our customers in the continent. It obviously held critical importance for the overall success of our giant ‘leap of faith’- one of the largest outbound investments in India’s history.

Support from the Indian High Commission in Abuja in those early days of acclimatization was important for the Company. We were particularly grateful to Mr Mahesh Sachdev, then Indian High Commissioner to Nigeria for his proactive approach towards supporting Indian business interests in the country. Given the productiveness of the meetings that we had with High Commissioner Sachdev, I was not surprised when I was approached for this foreword.

Nigeria crossed an important milestone recently when its economy was officially recognized as the largest economy in Africa. The new ‘rebasing’ calculations place its GDP at about US$ 510 billion (2013), nearly 30% of the size of the Indian economy. This new positioning reiterates the importance of Nigeria as a global economic powerhouse. Leaving aside the new assessment, the rapidly transforming economy holds enormous potential for global entrepreneurs, more so for Indians given the already sizable base of bilateral trade and investment between India and Nigeria. I am particularly delighted to be penning down the foreword for such a book – a constructive guide for tapping business opportunities emerging in Nigeria – so appropriate at a time when India’s relationship with the African continent, and Nigeria specifically, is poised to take a big leap.

Africa is more complex than what it appears from a distance. Weak infrastructure, high costs, a limited skilled, yet highly aspirational, population make its constituent markets challenging for outside entrepreneurs. It is imperative to do enough preparatory work on the individual markets one plans to enter before taking the plunge. I am sure ‘Nigeria: A Business Manual’ will prove to be a handy guide for entrepreneurs planning their entry into Nigeria.

Best wishes,

Sunil Bharti Mittal

Chairman, Bharti Airtel Ltd and

India Chair, India-Africa Business Council

Foreword-2

‘Nigeria: A Business Manual’

The unfolding story of the rise of modern Nigeria is a fascinating tale with many twists in which Dangote Group has played a tangible and enthusiastic part in the area of business and entrepreneurship.

Indeed, the emergence and growth of Dangote Group over the past three decades is glowing testimony to the latent potential of Nigeria’s economy, favourable government policies and an improving business environment. At Dangote, we have managed to satisfy a small part of Nigerians’ pent up yearning for a better future through our activities across several sectors of the economy. While our modest achievements may have astounded some, it has only reaffirmed my abiding faith in the enormous economic future of Nigeria.

The future of Nigeria, Africa’s largest economy, is naturally a crucial matter to us Nigerians as well as to her numerous foreign stakeholders. As one of the world’s fastest growing economies and Africa’s most populous nation, Nigeria offers considerable opportunities to discerning long term investors. Businessmen, both local and foreign, must however have faith in Nigeria’s bright future, imbibe an objective and constructive attitude as well as the determination to persevere in what can sometimes be a challenging operating environment.

During my interactions with Ambassador Mahesh Sachdev over past few years, he has demonstrated a good understanding of the Nigerian nation and a deep empathy for its people. It is therefore no coincidence that by the end of his five year term as the Indian High Commissioner in Nigeria, India had become Nigeria’s largest trading partner.

It is heartening to note that even after his retirement, he has not lost his enthusiasm for Nigeria as amply demonstrated by this book, “Nigeria: A Business Manual”. I am convinced that you will find this book an insightful resource on Nigeria, her economy and the multiple opportunities she offers. I offer my best wishes for its success.

Aliko Dangote

President/CE - Dangote Group

Quotes for the Jacket:

‘Nigeria: A Business Manual’ by Mahesh Sachdev, the former Indian High Commissioner to Nigeria, has a wealth of information about Africa’s largest economy. Nigeria is projected to grow dramatically, both in the size of its population and its economy in the years to come and will be a very important business partner for India in the future. The book is a must read for anyone who wishes to successfully do business in Africa.

- Adi Godrej, Chairman Godrej Group

‘At Bajaj Auto we have special place for Nigeria, our largest overseas market. During past eight years, sales of Bajaj Auto products in Nigeria have gone from a scratch to turnover of $ 300 million in 2013. We are proud to be the best-selling 2 and 3-wheeler brand in Nigeria for past two years. We deeply appreciate the consistent patronage of millions of Nigerians to our quality products, overlooking significantly cheaper options.

‘Ambassador Mahesh Sachdev was the Indian High Commissioner to Nigeria during most of that period. He played a very significant role in our success in Nigeria, seeding us with insights and suggesting innovative strategies. I am, therefore, very glad that he has just authored a sourcebook on Nigeria for foreign businesses. I only wish we had his book ‘Nigeria: A Business Manual’ available to us a decade ago. It would have enabled us to enter Nigeria earlier and grow even faster!’

- Rajiv Bajaj, MD Bajaj Auto

As the Dean of Lagos Business School, I constantly receiving requests from individuals and groups wanting information on acculturation and doing business in Nigeria, I am particularly excited at this book, which is instructive as a first read for anyone wanting to gain insights and an understanding of doing business in Nigeria; the Nigerian consumer; and the people of Nigeria.

- Dr Enase Okonedo, Dean, Lagos Business School, Lagos

Nigeria: A Business Manual is an all-inclusive guide to any businessman planning to break into the highly fertile Nigerian Market. We did that 15 years ago in power transmission & distribution and today have successfully expanded, both sectorally (including adjacent & complementary areas) and regionally. This book draws on the author’s immense wisdom and experience flavoured with his inimitable passion for the subject. It could not have come at a better time or from a better person.

– Jitender Sachdeva, Group President, Skipper”