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 Reasons to Invest in Nigeria

Investing in Nigeria is a wise and practical decision. Businesses that have taken that decision have continued to reap benefits upon benefits. In Nigeria today are businesses and nationals from almost all countries of the world: US, Britain, France, China, Japan, Spain, Germany, Italy, India, Russia, Saudi Arabia, Israel, Egypt, Malaysia, Brazil, Australia, Argentina, Canada, Portugal, Ghana, South Africa, Zimbabwe, etc.

The reasons they have invested in Nigeria and why many more are investing in the country are not farfetched. Some are listed below and as you go through this we invite YOU to come, do business in the land and country of the Green White Green – NIGERIA.

WHY INVEST IN NIGERIA
  1. Abundant Resources: Nigeria has enormous resources, most of which are yet to be fully exploited. They include mineral, agricultural and human resources.
  1. Large Market: Nigeria offers the market in sub-Saharan Africa, with a population of about 1670 million people. The Nigerian market potential also stretches into the growing West African sub-region.

 

  1. Political Stability: Nigeria offers stable political environment.
  1. Free Market Economy: The Government has created a favourable climate for business and industrial ventures. Administrative and bureaucratic procedures have been greatly streamlined. The Government has put in place policies and programmes that guarantee a free market economy.

 

  1. Robust Private Sector: The country has a dynamic private sector, which has assured greater responsibilities under the new economic environment.
  1. Free Flow of Investment: Exchange control regulations have been liberalized to ensure free flow of international finance. There is now unrestricted movement of investment capital.

 

  1. Attractive Incentives: A comprehensive package of incentives has been put in place to attract investment.
  1. Fast Growing Financial Sector: There is well-developed banking and financial sector. The investor has easy access to working capital and other credit facilities.

 

  1. Skilled and Low Cost Labour: There is an abundance of skilled labour at an economic cost, resulting in production costs, which are among the lowest in Africa.
  1. Infrastructure: Rapid development of physical and industrial infrastructure, in terms of transportation, communications, electricity and water supply.
  1. Nigeria is Africa’s foremost business destination second only to SA. Its currency is the Naira. N1.00 is approximately N127USD. The country operates a market economy dominated by crude oil exports with the revenue earnings from the sector accounting for 90% of forex earnings and 65% of budgetary revenues. Other exports are cocoa, palm oil, groundnuts, cotton, timber and rubber.

The Government has been pursuing economic reforms marked by the privatization and deregulation which seek to transfer state ownership of institutions to the private sector and so engender efficiency n the productive sectors of the economy .These are well articulated in The NEEDS programme. The reforms have led to an explosive growth in the telecoms sector after years of stagnation. The GSM has transformed the economic terrain creating employment and oiling the operations of businesses in Nigeria. The country is traversed by a network of primary and secondary roads, and has 4 international airports, and 6 seaports. It also boasts 12 Television stations and 25 National newspapers. Its internet country code is .ng

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.

The Government has been pursuing economic reforms marked by the privatization and deregulation which seek to transfer state ownership of institutions to the private sector and so engender efficiency n the productive sectors of the economy .These are well articulated in The NEEDS program. The reforms have led to an explosive growth in the telecoms sector after years of stagnation. The GSM has transformed the economic terrain creating employment and oiling the operations of businesses in Nigeria. Nigeria is well served by GSM and CDMA operators and is currently the largest GSM market in Africa.

The country is traversed by a network of primary and secondary roads, and has 4 international airports, and 6 seaports. It also boasts of over 50 Television stations, 50 Radio stations, 5 cable stations and 25 National newspapers. Its internet country code is .ng

Source: www.nipc.gov.ng