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Starting a business could be risky and capital intensive
Understanding a good place to invest is a very good place to start. while you grow your investment over time
The recent diversification goals of the federal government have increased local production drastically and seen the importation of goods drop marginally.
This has made Nigeria more attractive as an investment destination and lucrative for offshore investors to bring their capital, skills and business trade into the country.
A good way to spur these investments is for government to provide incentives for companies that are engaged in production of export commodities, providing new jobs and increasing local production that is vital for growth of our nation.
Below is a look at investment opportunities for individuals and businesses to consider;
Foodstuff exports to African diaspora and neighbouring countries
With over millions of Nigerians living in diaspora and with continuous migration, there has been an increase for foodstuffs and ingredients to these regions United Kingdom, United States, Russia and Europe.
This opportunity creates a huge gap that needs to be filled with supplies from Nigeria to the foreign countries.
The advantage of it is that, once you secure a supply chain to the country, demand is usually throughout the year that creates a good cash flow for the business owner.
Fast moving export commodities.
The unrecorded trade volume in Nigeria is huge; the local commodities export market is in constant demand all year round for different commodities depending on its season, including Cashew nuts, Ginger, sesame seeds, groundnut, maize, charcoal, shea nuts and many others.
The recently launched inland port in Kaduna by the federal government creates a big opportunity for ease of goods movement from the northern part of Nigeria, where most commodities are sourced from for exporters.
The barrier to success for some of the exporters is securing trusted international buyers, which we have seen government agencies such as Nigeria export promotion council (NEPC) and private export technology companies such as cokodeal.com bridging the trade flow between international buyers and local exporters.
Many items in Nigeria that are not well packaged presents a big opportunity for a business owner, by repackaging it, ensuring top level hygiene, testing it and enlisting its nutrients, ingredients, storage instruction and application as may be needed.
With a well branded product, take it to where there is high demand and resell at a much higher price.
The diversification goal has spurred local production as it was seen in 2017, local rice, fertilizers and more. There is an increase in demand for food products locally and internationally. Businesses can invest in farming of palm oil, cassava, rice and other fast consuming agricultural products. According to CNN in a recent report, Nigeria is the largest supplier of cassava to tune of 50million metric tonnes annually. There is demand for agricultural produce in Nigeria globally.
Other investors that cannot afford to supervise and produce by themselves can explore platforms like farmcrowdy to help secure farmers that they can invest through and share profits.
The raw material produced in Nigeria is often exported or locally sold, providing reduced income for the owners, the opportunity this presents is sourcing locally and processing such raw material to finished goods that can be sold in local market or exported. A recent study shows that African cocoa producers only earn 3% of the cocoa market in the value chain, simply because the raw cocoa is not processed into other derivate that can generate superior returns.
Nigeria is fortunate as an investment hub that offer high returns on investment to local, international persons and companies that harness its opportunities successfully. The need to develop Nigeria economy offers investors’ diverse areas to explore for superior return on investment compared globally.
Compiled by: Raymond Agholor
Trade and Investment manager for cokodeal.com
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