The 14 Fastest Growing Business, Investment and Career Opportunities in Nigeria - Part 4 - Investment

The 14 Fastest Growing Business, Investment and Career Opportunities in Nigeria - Part 4

Posted by Don Okereke /  November 04, 2013 / in Investment

7. Uninterrupted Power Supply - Yes Power Holding Company of Nigeria (PHCN) is been unbundled and privatized; there is hope that electricity supply will improve soon and this will resuscitate hitherto moribund businesses. Business ideas and careers entwined around uninterrupted power supply will witness a boom. Cheaper alternative energy sources will also give conventional energy providers a run for their money.

8. Downstream Oil & Gas Sector - According to analysts, the eventual passage of the Petroleum Industry Bill (PIB), will see more Nigerians participating in the downstream sector of the Nigerian Oil and Gas industry. Similarly, the solid mineral sector in Nigeria is an untapped goldmine.

9. Transport sector - Will increasingly witness a shift towards conglomerates such BRT, LAGBUS etc. This is the trend all over the world. In the United Kingdom for instance, a transport company known as Travel West midlands and a handful of other smaller transport companies service the entire West midlands. A time will come when all these rickety Molue’s, Danfo’s will be completely phased out and driven out of business. Privatization of Nigeria’s railway sector will also give birth to business opportunities. Budget Airlines will thrive too.

10. Health Sector (Provision of world-class medical facilities) - Nigerians are said to spend a staggering N80 billion annually on medical tourism abroad. From minor ailments to life-threatening ones, many Nigerians, especially the moneybags and those in the corridors of power, lack confidence on Nigeria’s medical system. It suffices that replicating such state-of-the-art medical facilities prevalent in Western countries in Nigeria will yield high return on investment.

11. Provision of fast broadband internet service - Contrasted with other parts of the world, the cost of broadband internet, digital television subscriptions in Nigeria is astronomical despite poor service. In the United Kingdom, a broadband war has led to Tesco launching a super-low price of £2 (N500) a month for super-fast unlimited data broadband internet. From the foregoing, it follows that the N15,000 to N25,000 (about £100) that Nigerians are currently paying for monthly unlimited broadband subscription is pretty much expensive. Foresighted Western investors that can offer a better service at a cheaper rate will surely make a kill.

12. Construction - Infrastructure-wise, Nigeria is definitely a huge work-in-progress hence Construction companies will continue to play pivotal roles.

13. Agriculture and food - A growing population requires food for sustenance. To an extent, Agriculture is subsidized in most Western countries. This explains why one can afford to buy three whole hard chickens for about £5 in some parts of the United Kingdom (N1, 250). Not so in Nigeria, eating chicken, Turkey is a vestige of affluence.

14. E-commerce (online shopping), electronic payment platforms and Business Services all have very good prospects and market in Nigeria.

Read Part 1 of the series
Read Part 2 of the series
Read Part 3 of the series

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