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MLA
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Business & Marketing
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English (U.S.)
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Country Research Project-Nigeria (Essay Sample)
Instructions:
The assignment aimed to enhance comprehension of international business by applying course concepts. It involved exploring the economy, trade, economics, culture, and business of an assigned foreign country. The instructions required the introduction of the country Nigeria and comparing it to the U.S. It also required comparing and contrasting the countries' cultures, economic systems, political systems, and legal systems. source..
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Country Research Project-Nigeria
Geographical Setting
Nigeria is located in West Africa that borders the Gulf of Guinea to the South, Benin to the west, Niger to the North, and Chad and Cameroon to the east (African Commission on Human and Peoples Rights, pp1). The country is positioned approximately between latitudes 4° and 14°N and longitudes 3° and 15°E. The country is smaller in size and is approximately 923,768 square kilometers. The United States is the third-largest country in the world by land area, covering approximately 9.8 million square kilometers (Statista, pp1). The United States spans a wide range of latitudes, from about 24 degrees N (southern tip of Florida) to 49 degrees N (northern border with Canada). The country is on the American continent and surrounded by various countries.
335280028575000-38100028575000Map of Nigeria and the U.S
Nigeria experiences diverse climates since it has topographical variations. It is divided into three climatic regions: arid climate in the north, the central region experiencing savannah, and the south region, tropical rain forest. However, the U.S. experiences vast climates, including subtropical in Florida, arctic in Alaska, and temperate climates in the Midwest.
However, based on natural resources, Nigeria is rich in crude oil, natural gas, coal, tin, limestone, iron, ore, and agricultural products like palm oil and cocoa. The country’s largest natural resource is oil, which contributes much to its economy. However, the U.S. is rich in petroleum, natural gas, coal, renewable energy, minerals like copper, gold, silver, and agricultural land. The energy landscape has transformed the country; hence, it is the largest shale oil and gas producer.
Population
Nigeria has a population of approximately 226, 121,000 densely occupied urban areas and the tropical rainforest region (Worldometer, pp1). The country has a growth rate of approximately 2.6% annually due to high birth rates and improved life expectancy. The population is predominantly youthful since the highest percentage comprises individuals below 30 years old. The population is mostly composed of females. The ethnic groups majorly involved are more than 250, with the likes of Yoruba, Igbo, and Hausa-Fulani being the majority. However, the U.S. has a population of approximately 333,288,000, with a rate of 0.7% annually, hence a slower rate than Nigeria's (United States Census Bureau, pp1). The country has a relatively balanced age distribution with a growing number of older adults. The population is distributed across the states and regions since some states, like California and Texas, have large, dense populations. The country has a diverse population of individuals with African, European, Asian, and other ancestries. The country has a more mature demographic structure and rich diversity, with the largest number of older adults in most states.
Comparison Based on Culture
Nigeria has over 250 ethnic groups, each with its languages and dialects. It speaks English as its official language and is majorly used in the government, education system, and commerce. The country has religious diversity and an equal division between Islam and Christianity in the northern and southern regions. However, the country has traditional African religions in the southeastern regions. The country has various tertiary-level institutions but with concerns about the quality of education. However, in the U.S., the country is predominant in American English as the primary language and is spoken along with other languages. The country has a diverse religion, with Christianity being predominant. Other religions include Islam, Judaism, Buddhism, Hinduism, and other non-religious cults. The country has a more developed and diverse education system with more advanced universities. There is much emphasis on education.
Comparison Based on Economic System
A mixed economy marks Nigeria and uses Nigerian Naira as its official currency. The exchange rates are based on oil prices, government policies, and international trade factors. The country is a member of the Economic Community of West African States (ECOWAS) and the African Union. It heavily exports agricultural products, oil and gas products, partnering with the U.S. and other European countries, and imports products like machinery, vehicles, and consumer goods. However, the U.S. has a mixed economy and combines capitalism and government intervention. It uses the U.S. dollars (USD) as the main currency, and its exchange rate is based on the forex change market. It is a member of various economic organizations like the World Trade Organization and the North American Free Trade Agreement. The country is among the largest exporters, am...
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