Nigeria is an investor’s haven. With abundant mineral and human resources; the largest market in black Africa, the most endowed nation on the African continent, stable government and growing infrastructure, the opportunities are boundless. In almost every sector, there are limitless opportunities to invest and do viable business in Nigeria.
Investment and Business opportunities abound in the following areas:
- Small and Medium Scale Enterprise – Nigeria believes strongly in the role of SMEs in industrial development. To this end the country has set up the Small and Medium Scale Enterprises Development Agency of Nigeria (SMEDAN), the National Economic Reconstruction Fund (NERFUND), the Bank of Industry (BOI), The NIPC and various Technology Business Incubation centers in various parts of the country. Thus many opportunities exists in these burgeoning sub-business sector. There are various areas you can play in here and take one of the numerous advantages. They include:
- Web designing
- Shoe making
- Fisheries and fish smoking
- Cosmetics manufacturing
- Importation of various goods and items
- Exportation of various goods and items
- Furniture making
- Fashion designing
- Agro products processing
- Solid minerals business
- Petroleum making
- Down Stream and Upstream petroleum businesses
- Tourism and Entertainment
- Hotel, Restaurants and Fast food business
- Transportation business
- Steel fabrication and construction
- Supermarket, stores and FMCG distribution
- Consulting and Training
- Internet provider
- Property Development and management
- Printing, Advertising and public relations
- Education institutions, Training and research
- Logistics, courier, freight forwarding and distribution
- Small scale manufacturing in pharmaceuticals, drinking water, etc.
- Leather works and goods.
- Education – Primary, Secondary, Vocational and Tertiary. Nigeria has a shortage of educational institutions particularly at the tertiary levels. Various opportunities exists for investors in education to set up educational institutions in any tier of education.
- Transportation: Vast opportunities exist in this area either in road haulage, passenger transport, development of rail track and lighter rail, cargo air, chartered flights, helicopter services, passenger air carriers, shipping and maritime operations.
- Telecommunications – Nigeria’s telecommunications sector is one of the fastest growing in the world. There are still vast opportunities as a provider or telecommunications services either as a GSM operator or as a CDMA operator. You may also invest as a provider of services, equipment and infrastructure to the telecoms sector
- Broadcasting – Private broadcasting has existed in Nigeria for over ten years and growing. Opportunities exist in Television broadcasting, radio, cable and internet broadcasting.
- Publishing – You may invest in newspaper publishing, special publications or in book publishing. Most of the states in Nigeria lack any publishing firms and the Governments of those states seek investors into this vital aspect of their economy and education.
- Manufacturing – The federal and State Governments are presently promoting investment in manufacturing with many incentives. Some states are willing to give free land and tax holidays to manufacturers. The opportunities here are limitless as the county needs computer manufacturers, paper manufacturing, hardware, food products, drugs and pharmaceuticals, agro processors, cement manufacturers, textiles, stationery manufacturers, electronics manufacturers, etc.
- Solid Minerals (see the list of available solid minerals below). Nigeria has a fast stock of untapped mineral resources begging for investors. The Federal ministry of solid minerals and the Nigeria Investment promotion Council invites you to waste no time in investing in this sector. Just take your pick.
- Construction – Construction and building companies are needed.
- Housing – with growing population and urbanization the need for more houses are apparent. Opportunities exist in office accommodation, shopping plazas and residential properties. The market here is growing and currently one of the most profitable sectors in the country.
- Banking and Finance – Opportunities exist in Commercial Banking (with a start-up capital of N10 billion i.e. about $65 million @ N155/$). You can also invest in mortgage banking (with N5 billion start up capital i.e. $33 million) or in Microfinance banking with a minimum start up capital of N20 million, i.e. $129,000. There are also opportunities in Insurance with N5 billion start-up capital and in stock broking, capital market operations and insurance brokerage.
- Car manufacturing – Nigeria is in need of vehicle manufacturing and assembly plants. There is ample land, human capital and growing market.
- Agriculture - Agricultural products include groundnuts, palm oil, cocoa, coconut, citrus fruits, maize, millet, cassava, yams and sugar cane. You can invest into primary agriculture as a farmer or as a processor of agricultural produce adding value to the products.
- Importation: Nigeria’s imports are in the region of $14.54billion USD. Import commodities include machinery, chemicals, transport, equipment, manufactured goods and live animals.
- Exports: In recent times, focus is being directed at non oil exports and agriculture, which presently accounts for 30% of the GDP, to diversify the economic base. Opportunities exist for the exploitation and export of natural gas, bitumen, limestone, coal, tin, columbite, gold, silver, lead-zinc, gypsum, glass sands, clays, asbestos, graphite, and iron ore, among others.
- Petroleum: Nigeria is a leading petroleum producer and exporter. It is the 12th largest producer of petroleum in the world and the 8th largest exporter. Nigeria also has one of the world's largest proven natural gas and petroleum reserves and is a founding member of OPEC. The opportunities here are boundless.
MINERAL DEPOSITS BY STATE
- Abia: Glass Sand, limestone, Salt, Shale, Ball Clay, Granite, Galena, marble, laterite, bentonite, phosphate, kaolin, pyrite, feldspar, petroleum, lignite, gypsum, sphalerite, clay.
- Adamawa: Granite, clay, gypsum, limestone, uranium, kaolin, coal, trona, barite salt, marble, magnesite, laterite.
- Akwa Ibom: clay, glass sand, salt, silica sand, granite, coal, petroleum, Natural Gas, Kaolin, limestone, lignite.
- Anambra: clay, iron Stone, Natural Gas, petroleum, sand stone, Kaolin, pyrite, lignite.
- Bauchi: kaolin, Trona, gypsum, cassiterite, mica, clay, tantalite, galena, iron ore, gemstone, sphalerite, silica sand, Barite, columbite, Zinc, Lead, Muscovite, Quartz, Tin, glass sand, monazite, Feldspar, Graphite, Wolfram, Coal, Agate, Tentalum, Rutile, Tungsten, Copper, Talc, Limenite, Ziron.
- Bayelsa: salt, petroleum, Natural gas, Silica Sand, Bentonite, crude Salt, petroleum, limestone, glass sand.
- Benue: Gemstone, Barites, Feldspar, Marble, Mica, silica Sand, quartz, Galena, lead, zinc ore, silica sand, clay, crushed and dimension stone, fluorspar, wolframite, bauxite, shale, magnetie, Limenite, Brenite.
- Borno: Silica Sand, Natural Salt, sapphire, topaz, mica, quartz, gypsum, uranium, iron ore, megnesite, fedspar, Granite Aquamarine, Nepheline, Limestone, Kaolin, bentonite, laterite, Refractory Clay, Trona, Gold, Tin, Potash.
- Cross River: Salt Limestone, Coal, Maganese, Mica, Limenite, Gold, Quartz, Glass sand, tourmaline, petroleum, Natural Gas, Kaolin, Tin ore, Sharp Sand, spring water, salt deposit, Talc, Granite, Galena, Lead, Zinc, Tin Ore, Muscovite, Uranium, Barite.
- Delta. Kaolin, Lateritic Clay, Gravel, Silica Sand, Natural Gas, Petroleum, Ball Clay, Bauxite, Granite, River Sand, Clay, Spring Water.
- Ebonyi: Lead, Zinc ore, Salt, Limestone, Ball Clay, Refractory Clay, Gypsum, Granite.
- Edo: Chamockite, Copper, Gold, Marble, Granite, Gypsium, Petroleum, Dorite,
Lignite, Limestone, Ceramic Clay.
- Ekiti: Clay, Chamokite, Quartz, Lignite, Limestone, Granite, Gemstone, Bauxite,
Cassiterite, Clumbite, Tantalite, Feldspar, Kaolin.
- Imo: Crude oil, Shale, Natural Gas, Kaolin, Laterite Sand, Limestone, Salt, Marble.
- Jigawa: Glass Sand, Granite, Laterite Clay, Silica, Kaolin, Iron Ore, Qurtz, Potash,
Talc, Limenite, Gemstone, Columbite.
- Kaduna: Muscovite, Granite, Gold, Manganese, Clay, Graphite, Sand, Zircon, Kyanite, Tin Ore, Limenite, Gemstone, Columbite.
- Kano: Clay, Laterite, Cassiterite, Columbite, llmeniteGalena, Phyrochlorite, Kaoline, Gemstone, Silica, Tin Ore, Monazite, Wolframite, Thorium, Granite, Hyalite, Kaolin, Beryl, Amethyst, Gold.
- Kastina: Gold ,Manganese, Lateritic Clay, Feldspar, Black Tourmaline, Amethyst,
Quartz, Kaolin, Mica, Gypsum, Silimanite, Clay, Granite, Sand, Uranium Asbestos,
Tourmalin, Serpentine (Chresolite Asbestos), Chromites, Limenite, diamond, graphite, Iron Ore, Potash, Silica Sand.
- Kebbi: Salt, Iron Ore, Gold, Feldspar, Limestone, Quartz, Bauxitic Clay, Manganese, Kaolin, Mica.
- Kogi: Clay, Iron Ore, Gemstone, Marble, Limestone, Feldspar, Dolomite, Phosphate, Mica, Cassiterite, Granite, Ornamental Stone, Coal, Kaolin.
- Kwara: Clay, Kaolin, Silica Sand, Quartz, Dolomite, Marble, Feldspar, Gold,
Tantalite, Cassiterite, Granite, Limestone.
- Lagos: Silica Sand, Bitumen, Sharp Sand, Gravel, Petroleum, Laterite.
- Nassarawa: Cassiterite, Gemstone, A,ethyst, Beryl, Cherysolite, Emerald, Gamet,
Sapphire, Topaz, Barites, Galena, Monazite, Zicron, Glass sand, Coal .
- Niger: Bell Clay, kaolin, limestone, Granite, Glass Sand, iron ore, red clay, feldspar, silica sand, Quartz, Asbestos, marble, Talc, Gemstone.
- Ogun: kaolin, Feldspar, Silica sand, Mica, Granite, Clay, phosphate, gypsum, limestone, quartz, Tar sand.
- Ondo: Marble, Gold, Gemstone, Diorite, lignite.
- Osun: Clay, Granite, Talc, Dolomite, Feldspar, Quartz, Limestone, Mica,.
- Oyo: Clay, Feldspar, Granite, Limonite, iron ore, Kaolin, Quartz, Talc, Marble, Dolomite, Tourmaline, Aquamarine, Amethyst,
- Plateau: Monazite, columbite, Feldspar, Clay, Cassiterite, Gemstone, Kaolin, Dolomite, Mica, Zicron, Marble, Limonite, Barite, Quartz, Talc, Galena.
- Rivers: petroleum, Natural gas, Silica sand, Glass sand, clay
- Sokoto: Silica sand, Clay, salt, limestone, Phosphate, gypsum, kaolin, laterite, potash, granite.
- Enugu: Laterite Clay, Crude oil, kaolinitic clay, iron ore, glass sand, petroleum, gypsum, coal, silica sand ceramics.
- Gombe: graphite, Kaolin, Limestone, Silica sand, Uranium, Coal, Halites, Clay, Gypsum, Diatomite, Granite.
- Taraba: Flurspar, Gamet, Tourmaline, Sapphire, Zicron, Tantalite, Columbite, Cassiterite, barite, Gelena, Limestone, Laterite, calcite, Bentonitic clay.
- Yobe: salt, Trona, diatomite, clay, gypsum, kaolin silica sand, limestone, Epsomite, iron ore, shale, uranium, granite, bentonic Clay.
- Zamfara: Gold, Alluvia Gold, Granite, Chromites, chamorckite, clay, Feldspar, spring water.
- Federal Capital Territory: Limestone, Kaolin, granite, marble, feldspar, mica, dolomite, clay, sand, talc.
Nigeria’s Agricultural Produce
Trees and Forests
Nigeria’s food crops include:
- Cashew nuts
- Palm oil
- Water melon
The cash crops include:
- Cashew nuts
- Gum arabic
- Bitter Kola
- Palm kernels
The Forest Tress include:
- Black afara
- Nigerian walnut
The livestock include:
- Guinea fowls
The fishes found in Nigerian waters include:
- Cat fish
- Moon fish
- Shiny nose
- Thread fin