People engage in business because they want to be rich. For this reason, they think carefully about what to produce, for whom to produce and where to produce. Eventually, some of them decide to do it in fertile lands such as Nigeria. Doing business in Nigeria has been seen to be beneficial to participants over the last couple of years.
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.
Tax payment is one of the major discouraging factors for those who think about spreading their businesses to other countries. However, this fear should not be entertained by those who want to be based in the country because the government doesn't tax foreign companies heavily. A comparison with other western countries will reveal that multinationals in Nigeria enjoy much lower taxes than what their branches pay abroad.
The large population in the country promotes availability of quality and cheap labor. Without much advertisement, companies can find unskilled, semi-skilled and skilled labor. The high number of unemployed graduates in the country makes labor readily available and efficient as the people try to improve their worth by taking courses and attending workshops.
Infrastructure is one thing that attracts investors and the government is not ignorant about this. This is why it has made efforts to rehabilitate the roads, especially major highways that link one state to another. Some of these projects have been completed to aid easy transfer of manufactured products between states. Furthermore, the availability of international airports makes transportation safer and faster.
It is difficult for businesses to thrive where electricity is inadequate. Even though there is oil for fueling any kind of generator you have, it is still making efforts to ensure increased production of electricity from the power grid. One of the recent steps taken in this direction is the privatization of the power sector. What this means is that investors from the western countries will soon feel at home in a foreign land.
With a stable government in the country now, investors need not worry about planning for the future. The government has policies that can stand the test of time and some of them are geared towards helping foreign investors. The government is now by the people and for the people so individuals can voice their opinions on what they feel should be done to make everyone happy. The appointment of ministers with good past records is a good omen for the polity.
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.
Tax payment is one of the major discouraging factors for those who think about spreading their businesses to other countries. However, this fear should not be entertained by those who want to be based in the country because the government doesn't tax foreign companies heavily. A comparison with other western countries will reveal that multinationals in Nigeria enjoy much lower taxes than what their branches pay abroad.
The large population in the country promotes availability of quality and cheap labor. Without much advertisement, companies can find unskilled, semi-skilled and skilled labor. The high number of unemployed graduates in the country makes labor readily available and efficient as the people try to improve their worth by taking courses and attending workshops.
Infrastructure is one thing that attracts investors and the government is not ignorant about this. This is why it has made efforts to rehabilitate the roads, especially major highways that link one state to another. Some of these projects have been completed to aid easy transfer of manufactured products between states. Furthermore, the availability of international airports makes transportation safer and faster.
It is difficult for businesses to thrive where electricity is inadequate. Even though there is oil for fueling any kind of generator you have, it is still making efforts to ensure increased production of electricity from the power grid. One of the recent steps taken in this direction is the privatization of the power sector. What this means is that investors from the western countries will soon feel at home in a foreign land.
With a stable government in the country now, investors need not worry about planning for the future. The government has policies that can stand the test of time and some of them are geared towards helping foreign investors. The government is now by the people and for the people so individuals can voice their opinions on what they feel should be done to make everyone happy. The appointment of ministers with good past records is a good omen for the polity.
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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