The Nigerian Franchise Bill : Analysis and Comparison with other Jurisdictions

Despite the multifaceted woes facing Nigeria and its economy, the nation has remained an attractive market for brands to invest in. Several reasons can be suggested to explain why Nigeria continues to draw the interests of these brands. The most obvious of these reasons is the significant population of Nigeria, which stands at about 200 million people. Consequently, the market is populated with consumers that need suppliers and service providers to meet their various needs. It is also a salient fact that fast-moving consumer goods are extremely successful in the country. The potential for profit in such a large market coupled with the boom of information technology (IT) has contributed to the expansion of local brands as well as the influx of foreign brands and investors into the Nigerian market. Franchise Arrangements are one of such ways through which these brands can enter into and operate in new markets like Nigeria.