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How to make it in Nigeria
Nigeria is a great country and one of the most abundantly blessed in Africa. You can find most of the rich resources in Africa in this single West African country. A nation with over 100 million human capital, good arable soil and mineral resources of which crude oil is the most dominant.
Although Nigeria's economy has mostly shifted to crude oil exportation from the agro based one it once was since the 1980s, there are still a lot of other resource besides oil that can make one successful if he invests wisely.
How do we make it in Nigeria? This would probably be what a lot of young hardworking youths would like to know as many have found out that having a graduate degree may not be sufficient to be a success story in the land of Africa's struggling giant.
Things that can help you to make it in Nigeria
- Understanding the culture and tradition
- Understanding the religion. It is mostly a conservative nation
- A good business idea
- Knowing people. The larger your network, the better life becomes in Nigeria
- Speaking at least one Nigerian language
- Public exposure. Make use of advertising channels like the media and public centres
- Making use of modern technology. This can help you beat competition
- Knowing the local and Federal laws
- Understanding what Nigerians need
- Developing and marketing your product or service
Some Business opportunities
Food supply: Nigeria has a growing middle class ans a growing population which has not been quite adequately supported by govt in terms of food supply. Food prices are increasing on a daily basis and it is getting costly to feed a family. There are quite a few investors going into the agricultural sector to produce food products like yams, potatoes, rice and cassava. Cassava and yam are among the most popular types of foods in the country and their prices are rising. There is a lot of good land that remains uncultivated due to urban drift. It would be good business i investors go to those rural areas and do mechanized farming while paying cheap rent on land. Packaged foods like noodles, biscuits and plantain chips are hot selling products in Nigeria. Also road side food selling centres selling fried yams, plantains and bean cakes are also hot selling points and helping to grow small scale food businesses. The food supply industry does not have too many restrictive laws. There are also opportunities in the water supply industry. Nigerians now buy more bottled or satchet water than rely on govt water supply.
Clothing: The price for clothes are also increasing as Nigerians do have a preference for western fashion than local brands. School wears and office wears are mostly western styled.and these are mostly imported into the country and finally sold in retail at high prices. There is hardly no strong local brand that can compete favourably with imported clothes and still offer a cheaper price. So Nigeria still needs a virile local fashion industry that produces clothes at affordable prices too.
Housing: Due to rising price of rent as a result of growing middle class, increasing urban drift and high population, the price on rent is normally high as homes are kind of scarce in big cities. People need more homes but the govt doesn't have a sufficient housing plan that can make houses available for everyone despite the availability of virgin lands. More private real estate companies keep making millions by investing in new affordable homes in newer developing cities close to the centre. Prices for some new homes in Nigeria go from $30,000 to $100,000. Residential homes in Nigeria are mostly fenced round as a form of security.
There are lots of success stories of people who made it in Nigeria in areas such as finance, stock trading, art, services, manufacturing, food packaging, real estate and so on.