LEGAL
Nigeria’s growing middle class has seen a bigger demand for consumer goods
Globally trade default rates are less than 0,0003%, almost nonexistent.
“I have been at Barclays for a year and I haven’t heard of any
losses in Nigeria,” Barrass says. “In my 20 years of trade, I haven’t
had one loss in Nigeria and I’ve worked at several big trade banks. It
is in the customer’s interest to keep the supplier happy.”
He says that, in the last five years, Nigeria has used the global
economic crisis to its advantage. The government has restructured
the financial system to allow the economy to ride out the crisis
easier than others. Now it has a growing middle class, which means
a bigger demand for more consumer goods such as mobile phones,
tablets and refrigerators.
Jonathan Lang, Head of the Bowman Gilfillan Afr X