5 Reasons Why You Should Invest In Nigeria Now.
Nigeria like many other countries has her own problems. Our electricity is erratic and that is why some big companies decided to relocate when the cost of energy generation was getting too much to bear.
There is a limit to which you can transfer the cost to customers in the form of price increases. Infrastructure is not the best and so is transportation.
The rail system is just waking up for moving goods around the vast land called Nigeria while our road transport system can do with improvement.
But even at that, there are still some good reasons why you should invest in Nigeria.
What you should consider is, even as some have relocated some are still coming to invest and there are still several strong companies here doing very well with strong P & L account and balance sheets.
MTN for example posts big margins every year just like Guinness and PZ. So why should you invest in Nigeria.
A Large Market.
Nigeria market is without doubt the biggest in Africa. With an official population figure of 168m, Nigerians may be nearer 200m than 160m. Nigeria GDP was about 270billionUSD in 2012 which reimbursing has put at 450billionUSD, with annual growth rates of 7%.
These data may not be accurate as we lack reliable statistics. But this is a big market by all standard and the culture is diverse, which gives more opportunity for segmentation.
This large size of the market is one of the reasons responsible for the enormous growth of the mobile phone service providers.
Consumables producers will also do fine. For decades, Liver Brothers and PZ have been raking in millions with Omo and Premier soap respectively.
Labor is relatively cheap in Nigeria. I mean both skilled and unskilled. With an army of unemployed graduates, employers have a big pool to tap from and at a relatively cheap cost.
Agreed, some of the graduates may not be able to defend their degrees but there is still a sizeable amount of them employable. One virtue here is that most are satisfied with little.
For the sake of work to do, some graduates take teaching appointment for as little as #15,000 a month.
Minimal Government Control.
Unlike many European counties Nigerian government does not choke investors.
The playing ground is open and flat in most cases. It is not that the controls are not there but because the economy is a growing one, you are allowed to do some things and get away with it.
For example here, you can start a business before registering with the government. This is wrong but because we want more businesses the government makes it easy for you to start.
The control agencies are manned by the best but they treat you with civility and encourage you to flourish. This has nothing to do with corruption; it is all about African culture of bestowing compassion when necessary.
There are may be internal problems but Nigerians are the warmest and accommodating people you can do business with. The local people will give you the support you need.
There is a belief here that locals are more friendly towards visitors and therefore gravitate towards them better than their locals.
The communal culture of doing things together is there. Nigerians will offer a helping hand in the time of need.
A Developing Economy.
There is room for creativity and even more creativity before it is a growing economy with enormous potentials for growth. Most new ideas when properly researched and set up will gel.
There are many ideas that are posting tons of dollar in USA and Europe that are not even started here yet.
In Europe, you could go to the gas station and get fuel without a petrol attendant but it has not started to happen here.
As I am writing this, I am not aware of any old people’s home and there is a huge market for this. I know because my mom is old and I am finding it difficult to take care of her.
If a man starts that and provide a nurse to take care of her I will gladly pay. There is a big gap in educational service no matter how much the government tries. What of health delivery, the opportunity is endless.
We have not even scratched the surface of our business potentials yet. The mining industry is grossly under-exploited because we are only facing oil while others remain untapped.
We have our problems but we also have our bright sides with a strong leadership Nigeria economy will go places.
Small and Medium firms have the biggest advantage because you can rake in the money without being noticed.
And that is why I say, there is no reason yet for a graduate to be unemployed in Nigeria.