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Business opportunities in Nigeria

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TRADE TIPS: FOR DOING BUSINESS IN NIGERIA

  1. Investment in Nigeria: Nigeria is a blessed country with a lot of natural endowment and potentials; from fertile land, oil, coal, lead, zinc, columbite, tin, iron ore, etc. This is in addition to the country’s vast human resources at home and abroad. It is also blessed with professionals in the areas of Medicine, teaching, Oil and Gas experts. Nigeria has the largest Economy in Africa with an estimated figure of $594.257 Billion GDP. One of the key economic development objectives of the current administration of President Muhammadu Buhari is to shift focus from the oil-based economy i.e. Mono-economy and food importation to mass Agricultural production and self-sufficiency in food, leading to food security. The government has put in place a number of investment initiatives and incentives such as Ease of doing business in Nigeria to attract Foreign Direct Investment (FDI) into the country. It has also put very strong legal and regulatory system that protects capital and investments both local and foreign and it has relaxed its visa regime for potential investor to 48 hours after application making Nigeria a suitable place for investment.
  2. Doing business in Nigeria: In Nigeria, business has its high and low benefits like any other Nations. However, there is an enabling atmosphere for doing business in Nigeria with little taxes, challenges and opportunities and all which depend on business location, and government policies that would determine the type of business environment.
  3. Opportunities in Nigeria: There is market for product or services in Nigeria. With the estimated population of over 180 million people, there are opportunities in the following areas to venture into:
  • Real estate
  • Food and Agriculture- to ensure food substance and security
  • E-commerce
  • Entertainment and Media
  • Infrastructure (power and transportation)
  • Education
  • Health
  • Tourism   

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