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Hitachi VP Extremely Positive on the Opportunities in Nigeria

Steve Murphy: 30 per cent of
Nigeria is made up of the middle class

Steve Murphy describes the market growth in Nigeria as “Incredible”

Steve Murphy, Vice President of Hitachi Data Systems gave an in-depth interview to The Guardian this weekend, during which he explained the extremely positive reasons for why Hitachi are actively moving in to Nigeria. Interesting points in the article include his statement that Nigeria is second only to South Africa in terms of African business opportunities. He says that their strategy is to become partners rather than competitors with companies already working in the region. He also mentions that his company is bring investment and training to the region, something Business in Africa Pays sees as very important for doing successful business in the Sub-Saharan countries. There is more positive analysis of the region in the article, but here are a few snippets…

What we are bringing into Nigeria is world-class performance, world class delivery, and we are not just doing it for the first time. We are bringing in lots of experience into Nigeria.

We are not here to compete but to create a very big partnership with a lot of Nigerian companies and by that we want to have the largest partner here in Nigeria. We will be partnering with them and having a business to business relationship with the small companies. We intend to help in their growth to larger ones.

When asked by the reporter “Why did you choose Nigeria as your investment destination despite the security treats and infrastructural challenges?” Mr Murphy replied…

There are two main reasons. The first is the market growth here, which I will describe as being very incredible. And about 30 per cent of the population of Nigeria is made up of middle class citizens who are in need of good and affordable data system.

The second thing is the availability of customers around Nigeria and that is the reason why companies from the Middle East, South Africa, and Europe are moving into this region for investment. Like Chevron, MTN came into this country because there is existence of customers for their products and services and that is the fundamental reason why Hitachi came into the country to support the IT system. Our operation is not limited to Nigeria; we have our branches and entities in other regions like South Africa, Kenya, Tanzania, Ghana and Uganda.

Come and hear from Steve Murphy at our event on in London.

You can read the full interview on The Guardian website here.