There are many reasons why people would want to do business. Apart from making one independent, it is also a good way to become rich. However, these good intentions cannot be achieved if the business man or woman does not carry out the right survey before starting. Some of the subjects to survey include the product to produce and where to produce it. Many people in Africa and beyond have realized that doing business in Nigeria is profitable.
The major factor for making gains is the size of the market. Businesses in Nigeria do not have much work to do in finding market for their products. This is because the country has the highest number of people in Africa as more than 140 million individuals live there. Countries like China and other upcoming economies think about going to Nigeria to increase their popularity.
Businesses in the country do not pay high tax. Unlike other countries where multinationals are heavily taxed, businesses in Nigeria are exempted from certain duties. The aim is to attract investors who will help in developing the country. When compared with other countries, so many multinationals decide to locate their business in places such as Lagos, Abuja and Kano.
Finding labor is not a problem in Nigeria. There are millions of youths with the skills for whatever business you want to do there. You can find laborers who are ready to work with their bare hands and you can also find professionals who have been trained in universities both home and abroad. You can also harness the semi skilled ones and train them up to your company's demands to save your money. Nigerians are generally hardworking and easy to work with.
Nigeria is no longer backward in infrastructural development as it is actually among the most developed in Africa. This reduces cost of production, which is directly proportional to the cost of transportation. Experts and other personnel from other countries can easily come in and out of the country by using any of the international airports. There are international and domestic airports in the North, South, East and West of Nigeria.
Electricity is also improving in the country as more and more transformers are being distributed. In order to increase electricity generation and distribution, the government thought it wise to privatize the sector so that it can become more profitable to all and sundry. In addition, more power stations are being developed and spread across the different geographical zones in the nation.
Government stability in the country is another factor that attracts investors. There has been consistency in government policy for more than a decade and this has ensured effective implementation of ideas and projects to benefit foreign investors both directly and indirectly. Credible ministers are now being appointed and the senate is mindful of foreign investors in the country when new laws are considered for deliberation.
Establishing a business in Nigeria is profitable because the land is fertile. Crops such as cassava and oil palm are produced in large quantities and this benefits industries as raw materials can easily be processed within. Oil from palm kernel is used in the soap industries while cassava is turned into flour for bread making. The people are also accommodating and you can easily mingle with both the young and aged ones.
The major factor for making gains is the size of the market. Businesses in Nigeria do not have much work to do in finding market for their products. This is because the country has the highest number of people in Africa as more than 140 million individuals live there. Countries like China and other upcoming economies think about going to Nigeria to increase their popularity.
Businesses in the country do not pay high tax. Unlike other countries where multinationals are heavily taxed, businesses in Nigeria are exempted from certain duties. The aim is to attract investors who will help in developing the country. When compared with other countries, so many multinationals decide to locate their business in places such as Lagos, Abuja and Kano.
Finding labor is not a problem in Nigeria. There are millions of youths with the skills for whatever business you want to do there. You can find laborers who are ready to work with their bare hands and you can also find professionals who have been trained in universities both home and abroad. You can also harness the semi skilled ones and train them up to your company's demands to save your money. Nigerians are generally hardworking and easy to work with.
Nigeria is no longer backward in infrastructural development as it is actually among the most developed in Africa. This reduces cost of production, which is directly proportional to the cost of transportation. Experts and other personnel from other countries can easily come in and out of the country by using any of the international airports. There are international and domestic airports in the North, South, East and West of Nigeria.
Electricity is also improving in the country as more and more transformers are being distributed. In order to increase electricity generation and distribution, the government thought it wise to privatize the sector so that it can become more profitable to all and sundry. In addition, more power stations are being developed and spread across the different geographical zones in the nation.
Government stability in the country is another factor that attracts investors. There has been consistency in government policy for more than a decade and this has ensured effective implementation of ideas and projects to benefit foreign investors both directly and indirectly. Credible ministers are now being appointed and the senate is mindful of foreign investors in the country when new laws are considered for deliberation.
Establishing a business in Nigeria is profitable because the land is fertile. Crops such as cassava and oil palm are produced in large quantities and this benefits industries as raw materials can easily be processed within. Oil from palm kernel is used in the soap industries while cassava is turned into flour for bread making. The people are also accommodating and you can easily mingle with both the young and aged ones.
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