0
Items : 0
Subtotal : ریال0
View CartCheck Out
0
Items : 0
Subtotal : ریال0
View CartCheck Out

BUSINESS OPPORTUNITIES IN NIGERIA(Part 1)

BUSINESS OPPORTUNITIES IN NIGERIA

Business opportunities in Nigeria

_________________________________________________________________________

Nigeria, Africa’s largest country, is rapidly establishing itself as one of the most potential business locations in the world. Being a flourishing economy, Nigeria offers multiple sectors that are ripe for development and investment. In this article, we’ll look further into the business possibilities in Nigeria and provide valuable insights. The information will help you thrive in the Nigerian business climate, whether you are an experienced trader, manufacturer, or investor keenly looking to make an entry.

 

Agriculture and Agribusiness

 

Among the most potential business areas in Nigeria are agriculture and agribusiness. Nigeria can become a significant agricultural powerhouse due to its extensive, fertile territory and big populace. Due to its sizable populace and vast, fertile environment, Nigeria can develop into a significant agricultural powerhouse. According to the World Bank, agriculture employs about 70% of the population in Nigeria and accounts for about 23.7% of the country’s GDP. Cassava, yams, rice, corn, sorghum, millet, legumes, oil palm, cocoa, groundnuts, and rubber are just a few of the various products produced in Nigeria. For companies seeking to invest in Nigeria, the wealth of these products and the country’s potential for development in the farming sector offer a sizable chance.

 

Investors have a perfect location in the Lagos Free Zone to take advantage of this possibility. It is situated on the Lekki Peninsula and provides access to high-quality facilities, land, and a sizable consumer market, creating a favorable climate for companies involved in agribusiness. The Lagos Free Zone is a strategic location for prospective investors because it provides an ideal industrial ecosystem for agribusinesses to setup processing plants and export hubs for international markets. 

 

Manufacturing and industry

 

Nigeria’s economy depends heavily on manufacturing and industry. Oil, gas, and solid minerals are just a few of Nigeria’s natural resources that supply the materials for various industrial sectors like construction, chemical, and textile. The Nigerian government has identified agriculture, manufacturing, solid minerals, and services as priority sectors for investment. According to the Ministry of Mines and Steel Development, Nigeria has over 44 mineral types in over 500 locations. These include gold, coal, limestone, and iron ore.

 

(Source: Ministry of Mines and Steel Development.)

Highlights of few of the abundant solid mineral deposits below:

REF:www.lagosfreezone.com

About the author

Leave a Reply