Top tips on how to create wealth from agricultural products in Nigeria and around the world. We’ll share with you how to export your produce from Nigeria to foreign countries and make money. We’ll also share with the best agribusiness that can fetch you millions of Naira per month.
We’ll also share with you top business ideas to make you a wealth creator.
One of the states in the southwest which hasn’t fully explored the mineral resources it is blessed with is Osun, a state which was created on August 27, 1991, by the military administration of Gen. Ibrahim Babangida.
There are hundreds of investment opportunities in Nigeria, but one of the challenges is insecurity, from the North to South, West to the East, even the Federal Capital Territory, the seat of power, the government can’t adequately assure maximum security.
Created on September 23, 1987, by the military administration of Gen. Ibrahim Badamosi Babangida, Akwa Ibom is one of the states that make up the South-South Geopolitical zone with its headquarters in Uyo.
On the global ranking of ease of doing business, Nigeria isn’t a conducive environment for investment, but the report by the Absa Africa Financial Markets Index 2021 (AAFMI) says Nigeria is the third most attractive country in Africa for foreigners to do invest.
It seems Nigeria’s government has realised that it’s very important to write its own story by itself instead of an external body. One of such areas the Federal Government is taking upon itself is the Ease f Doing Business rating in 36 states plus the Federal Capital Territory (FCT), Abuja.
Another opportunity for investors, importers, and exporters to showcase their product and service to the rest of world at the Nigeria Diaspora Investment Summit (NDIS) begins on November 16 to November 17, 20201.
Despite some of the security challenges in most of the North-East, many investment opportunities still abound in Adamawa State, one of the Northern states that share an international boundary with Cameroon.
The 2020 pandemic opened the eyes of dependent countries to hundreds of business opportunities in their backyard. Abia, one of the South-Eastern states is a sign that there are hundreds of untapped investments in the state.
Some years back, an investor had to locate a stock broker, fill forms, and wait till the end of the financial year to receive dividend which were usually delivered through the postal service. It was even more difficult to invest in foreign stock back then. Today, that has changed, FinTech has simplified foreign investments and cross-border securities transactions.
Poultry farming business is one of the capital-intensive businesses. It requires proper planning and management
Poor management could lead to a loss running into millions or billions of naira. No wonder, a new poultry farming entrant learn from existing farmers for avoidable mistakes.
If you’re just getting started as a real estate investor, you can’t be a professional overnight. You would make mistakes. But does it really worth it to make mistakes with millions of naira?
The Securities and Exchange Commission (SEC) has raised alarm over the rising figure of unclaimed dividends within a period of one year.
In January 2021, there was a buzz on major social media platforms over the plan of the Federal government to borrow funds from unclaimed dividends and dormant accounts and we published a guide on how to set up CSCS account to recoup your dividends, find it at: https://infomediang.com/cscs-account-nigeria
Nigeria is filled with investment opportunities, but the major challenge facing millions of people at home is finance while hundreds of Nigerians abroad are at crossroads over how and where to invest their monies.
Sometimes ago, one of the most trending topics in Nigeria’s political landscape was the plan of the Federal Government to borrow unclaimed dividends and monies in dormant bank accounts. Can you stop the FG from taking that action? Definitely NO! Because the FG is invoking the Finance Act 2020. While you think about your shares in banks, you can also consider an investment in a corporate bond.
In one of our business guides, we talked about hot businesses you can start in Nigeria with little capital, in this post, we’ll be covering some pertinent questions in relation to profitable business ideas in Nigeria.
Before we proceed, have you ever considered the farming business? We have a list of a few ones you can start even at your backyard at low-cost at: https://infomediang.com/most-profitable-farming-business-ideas-nigeria
Another question that comes to mind among average Nigerians is: Is it possible for individuals without access to finance to invest in the stock market? And of course, the answer to all of them is a big yes.
When some individuals hear about the investment they think it’s exclusively for the rich only.
Contrary to such beliefs, anybody can start investing regardless of what they earn. When it comes to investment, the earlier one begins, the better.
The power of compound interest makes the difference. It is similar to sowing a seed! An acorn seed planted now has the potential to grow into a mighty oak tree.
That small amount of money you have today is a money seed. If planted well, has the potential to grow into a massive money tree. Therefore, go on and plant that seed now.
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Officially, the inflation rate was 17.75% as of June 2021, a slight difference from May inflation, when it stood at 17.93%. To NBC, it’s a slight improvement, but in the real sense, the prices of rice, garri, and other foodstuffs continue to go up.
High food inflation stood at 21.83 percent in June, according to NBS
For instance, an egg at the time of compiling this report (July 22, 2021) was N60 compared to 2019, when an egg was N30. That’s an increment of 100% within a period of two years. It’s alarming!
So, what are the workable ways to reduce the effect of inflation on Nigerians? President Muhammadu Buhari says his masterplan can lift 100 million Nigerians out of poverty in the next 10 years, details of his plan is at: https://infomediang.com/buhari-lift-100million-nigerians-out-of-poverty
But to the Lagos Chamber of Commerce and Industry, LCCI, the APC-led government can reduce the effect of inflation of prices of goods and services on Nigerians by implementing actionable policies in some sectors of the country.
According to the Director-General of LCCI, Dr Muda Yusuf, three principal drivers of inflation included:
Yusuf stated that the high energy cost, which included the spike in the cost of diesel, electricity and aviation fuel, high transportation and cost of logistics, and high import tariff as major cost push factor influencers.
There has been a persistent call on Nigerian authorities to explore renewable energy to mitigate the energy challenge being experienced presently.
“The other advantage of going solar would be its impact on the cost of generating and distributing electricity. Solar costs are coming down,” a Research fellow, University College Cork, Ireland, Samuel Ayokunle Olowosejeje once advised Nigeria to go solar.
Those who businesses depend on power supply pay more in fueling generating set, effect of which trickle down to the final consumer.
Solar-based energy can contribute to reducing the cost of generating and distributing electricity in the country.
Reduce the cost of logistics
How he plans to achieve the feat remained questionable as his government since assumption of office in May 2015 has pushed more Nigerians into poverty and joblessness, data don’t lie.
His N-Power programme is a brilliant idea, but the number of unemployed youth on the streets is overwhelming, more details about the SIP can be found at: https://infomediang.com/latest-n-power-news-nigeria
When the largest population is either unemployed or underemployed plus aggravated insecurity and wanton killings of citizens, which displaced millions, there will definitely be ‘hyper’ poverty. Security is key.
According to 2015 data from the National Bureau of Statistics (NBS), the unemployment rate in Nigeria rose to 9.9% in July-September from 8.2% in the second quarter, according to The Economist.
What makes this alarming is the fact that job creation in the third quarter of 2015 shows that Nigeria’s formal economy is failing to create many new work opportunities, instead some local firms who could not cope with insecurity closed shops or relocated to other African countries like Ghana and South Africa among others.
Although the NBS’s report shows that more jobs were created in the informal sector. It rose from 475,180 in July-September to 349,343 in the third quarter of 2014, 428,690. These were basically in agricultural production, but insecurity has made it worst.
Up from 23.1% in Q3 2018, Nigeria’s unemployment rate climbed to 27.1%, it has climbed to 32.5 percent at the time of publication (July 2021).
The figure is projected to increase further in 2022 as chronological data show that the unemployment rate in Nigeria has been rising constantly since 2015, says statista.com
The first programme the APC-led government rolled out a few months after the assumption of office in 2015 was Social Intervention Programme (SIP) among which is N-Power Programme.
It was a temporary job opportunity for young Nigerian graduates. 200, 000 beneficiaries were shortlisted in 2016 and posted to various sectors, each of N-Power beneficiaries earned N30, 000 as a monthly stipend.
By 2017, another 300,000 beneficiaries were onboarded to reduce the level of unemployment among youth.
While it’s a brilliant initiative, it remains a drop of water in the ocean as Nigeria’s higher institutions continue to graduate thousands of Nigerians into the labour market every six months.
Is Nigeria’s Unemployment The Worst?
The year 2020-2021 is historic in the history of mankind as a never-before pandemic hit the universe. It’s called COVID-19, which has posed lots of conspiracy theories about its emergence from China.
If you haven’t started using it for sales, you are definitely missing some opportunities. Statistics show that the volume of people using social media stands at 3.2 billion as of January 2021.
If you’re thinking of exploring other business ideas, you can check our guide on other profitable businesses you can explore, you can find it at: https://infomediang.com/profitable-businesses-nigeria
So, how exactly can you explore the wide range of opportunities within your reach to grow your online car dealership business?
Here are the 12 effective ways to close more vehicle sales and grow your auto business:
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