Risk management is very important when considering moving forward in Nigeria. Risk management is the classification and assessment of risks and planning to reduce the impact of unfortunate high-risk events. Nigerian businesses face many more challenges than international businesses. Firstly, they produce less electricity nationally than a single city in Ireland. Even though Nigeria is huge, it produces less electricity nationally than most cities in the world. This can become a major concern for businesses trying to expand globally. Say no to plagiarism. Get a tailor-made essay on “Why Violent Video Games Should Not Be Banned”? Get an Original Essay Obtaining permits and licenses is another challenge. There are also different types of corruption despite federal and state government reforms. Not to mention the crazy traffic in cities like Lagos, which can limit a business to the number of meetings it can hold per day, as well as the security situation and mobile phone network coverage. All of this must be taken into consideration when entering this market. But despite all these challenges, competition has already entered the market. As an industry leader, Bayer must understand that growth must be earned and not taken for granted. To truly see the imaginable for Nigeria, Bayer must thoroughly examine the economic headwinds and overcome the structural obstacles. To grow as a company and improve patient access to medicines, Bayer must perform granular analysis by city, therapeutic area and channel, and create game-changing offerings that promote access to the growing middle class. They need to connect with healthcare providers, develop their skills in operating complex sales and distribution networks, and capitalize on local talent in Nigeria. As Africa's largest economy, most populous country and largest consumer market, Nigeria is considered the next country at the forefront of the pharmaceutical sector after South Africa and the hotspots of the North Africa. A market economy is represented by the “invisible hand” of market forces; The government takes a hands-off or lenient approach. But Nigeria's entry into recession in 2016 left some businesses wondering whether strong growth was still possible. The International Monetary Fund has downgraded Nigeria's GDP growth forecast, but despite the poor outlook, it remains an excellent outlook for the pharmaceutical industry. As the middle class grows, health care costs increase. The rise in non-communicable diseases such as diabetes and heart disease presents an opportunity for pharmaceutical companies to see themselves as long-term partners of the government by providing access to much-needed medicines. The analysis states that the value of the Nigerian pharmaceutical market could increase by 9% per year over the next ten years to reach well over $3. 6 billion by 2019, making it as large as the current South African market. Over the same period, Nigeria could impact between $1. 9 billion and 2 dollars. 2 billion for growth in pharmaceutical sales, 55 percent of which comes from prescription drugs. Bayer will face three main problems to establish itself in this market in Nigeria. The health infrastructure of,.