According to one estimate, one in five blacks on the African continent is a Nigerian. So you can imagine the impact they have.
Nigeria is a pluralistic society. It has over 250 ethnic groups with over 500 native languages. The biggest groups are Yoruba, Hausa and Ibo. For international negotiators, it is important to note that the average Nigerian identifies more with his ethnicity and religion than his nationality. Religion-wise, Nigeria has about equal number of believers in both Christianity and Islam. The language of business is English.
In Nigeria, personal relationship takes precedence over business relationship; it is important not to change your team members during the process of negotiation. Or you could jeopardize the momentum that you have gained.
In terms of culture, the family is an important focus in Nigerian society and of course, relationship matters a lot. Whilst the communication style is generally direct and straightforward, it is important to engage in some small talk during the rapport-building with your counterparts.
Nigerians love to haggle and bargain – so you should factor in wider price moves when you negotiate with them. Be careful of fraud in Nigeria as they have their fair share of dishonest people in the business community. Verify the concessions that you get from your counterpart – some could be exaggerated.