There are lots of opportunities in Nigeria, but most Nigerians don’t see it, instead they see problems and the compounding challenges we face daily. Yes, these challenges are real, but they don’t change the fact that they are problems waiting for us to fix. While we complain other nationals troop into Nigeria to fix some of the issues and milk us at any price, then we have no choice but to pay.
some reasons you should start a business in Nigeria
- The Tech space in Nigeria is rapidly growing and this have been recognized even by Facebook. Facebook recently opened their office in Lagos Nigeria in partnership with CCHub Lagos to promote tech innovation. If you are a tech innovator don’t just sit and wait for who will help you go to these places with your ideas and you will be fine. We also have tech innovation centres all over the country, look for them and pitch your ideas there.
- Biggest Market in Africa with a population of over 180million people and still growing. If you don’t see these numbers as money then you must be blind. People exchange value for money, so if you see this population as a problem then you will always remain where you are and keep complaining. Some foreign investors are seeking ways to increase investments in Nigeria knowing that this is the next big market in Africa as competition in western world are getting very strong and tough every day.
“Recently MTN South Africa mopped up shares of MTN Nigeria. Others who have increased their investments in Nigeria include wal-mart, Glaxosmith UK and many others.”
- Heavy economic and social infrastructure deficit: In Nigeria just look around you, you see nothing is ever enough to run all the population we have. Even in the next 10 years we will still be needing more infrastructures and other amenities due to our population and growth. Our growth rate is higher than our development and it’s very difficult for us to catch up, even government budget does not show a plan to cover this huge gap we have. At least we need to close for the existing people now talk more of planning for those coming in the next 10 years, you see why it’s difficult?
- Heavy reliance on imported Items: even with the made in Nigeria drive by the government, our demand for items made abroad is still very high, even for agricultural products we still import as we are yet to even produce enough for local consumption, remember population keeps growing, so much opportunities in agriculture and export. I will also say since importation is huge, there are also massive opportunities in this area.
In Nigeria we need solution for almost everything, from education, power, manufacturing, agriculture, health, water, waste management, transportation, security etc, the list is endless, and this means a lot opportunity for all of us, no business in Nigeria have been able to solve the numerous challenges we face daily.
Nigeria has these opportunities and as a Nigerian you only need to think and open your mind to the opportunities.
Lawrence is a Cards, Payments, Project Management and Sales Expert with over 16years in the Financial Sector. He is passionate about Excellence, Leadership and Innovation, currently chasing interest in digital Payment solutions, blockchain technology, financial Inclusion & tech startups.
Author of the book, Discover, Develop, Deploy
Lawrence has founded several businesses including a Licensed Fintech in Nigeria. He loves writing and sharing knowledge with his audience.
You can reach him on any of his social media handles for enquiries and collaborations.