…says Nigeria must master cross-cultural commerce to win global investment
Nigeria must fundamentally rethink the way its businesses and government delegations engage with international partners, as poor cross-cultural understanding continues to undermine trade, investment, and diplomatic outcomes, according to a new policy briefing by the Alliance for Economic Research and Ethics LTD/GTE.
The report, titled The Cultural Key: Why Nigerian Businesses and Government Delegations Fail Abroad – And How to Master the Art of Cross-Cultural Commerce, argues that many overseas trade missions have become exercises in symbolism rather than vehicles for delivering tangible economic gains.
Signed by Dele Kelvin Oye, chairman of the Alliance, the briefing contends that while Nigerian delegations often return from foreign trips with photographs, press statements and memoranda of understanding (MOUs), many of the agreements fail to translate into concrete investments or long-term commercial partnerships.
According to the report, a major reason for this disconnect is the widespread assumption that business practices are universal, despite significant cultural differences in how trust, negotiations and decision-making are conducted across countries.
