Posts with tag "investment"

For a lot people within and outside Nigeria, it is a country that is relies on oil through and through. We would be nothing without oil, right? Well, you will be pleased to know this is not true, especially today. Did you know, for instance, that the Gross Domestic Product (GDP) grew by about 6.9% in the third quarter of 2013 largely because of the increased contribution of the non-oil sector? What is more, real estate services hold a significant position in this particular sector.

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There are several factors and considerations that determine where people buy properties from. Just like every human endeavor, location is a key factor that determines the price of a product and the possibility or otherwise of making profit. Conventional wisdom demands that One invests or buys a property from an area that Is already developed or near the city centre. A plot of land or a property in such areas are usually very expensive. I was somewhere in Ikeja sometime ago and I was told the asking price for a plot of land there was in the neighborhood of two hundred and forty Million naira i.e almost a million pounds! I think this experience made me to ask in one of my essays whether the prevailing price of real estate in Nigeria is sustainable.

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I am sure you are wondering what 'PPP' stands for and how it is the panacea to Nigeria's Housing problems. PPP stands for "Private-Public-Partnership". It is a type of business relationship between a government agency and a private-sector establishment geared towards conceptualizing and completing projects that will benefit the public such as Low Cost Housing Estates, public transportation networks amongst others.

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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.

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5. Private Security Industry - Because of the unprecedented terrorism, insecurity (kidnappings, armed robbery) challenges bedeviling Nigeria, the Security Industry (Provision of Private Guards, Sales of Security Gadgets) is a money-spinner. There is no sign that this insecurity miasma will abate anytime soon. The Private Security Industry will be a beneficiary of the increasing agitation, antagonism and bickering over the forth-coming 2015 elections. My prognostication: events may spiral out of control prior to and aftermath of the elections if it is overtly rigged or some sections of the country feel outmaneuvered.

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In the introductory part of this series, I drew your attention to some of the inherent challenges of doing business in Nigeria. I also gave examples of individuals that have excelled in the Nigerian Business environment. Herein are some of the fastest growing, business, investment and Career opportunities in Nigeria.

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Introduction

Albeit inherent synthetic challenges, Nigeria is pretty much tantamount to a virgin land with a superfluity of business opportunities. All the man-made societal and infrastructural challenges in Nigeria and indeed many developing countries are business and career opportunities in disguise. Contrasted with Nigeria, many Western economies are saturated or nearing saturation point because their public infrastructures are almost sorted. No wonder some of these advanced economies are drifting in and out of recession and depression.

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CHIEF KOLA AKOMOLEDE is a graduate of University of Ife, Ile-Ife, where he obtained a B.Sc in Estate Management. He also has an M.Sc in Urban Land Appraisal from the University of Reading, U.K.  He joined Tope Oloyede & Co. from 1979 to 1986 before he moved to the Lagos State Development and Property Corporation (LSDPC) as a Chief Estate Surveyor and Head of the Estate Department.  He later rose to become the Deputy General Manager (Estates) before retiring in 1999 to establish his practice under the name Kola Akomolede and Company.

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Indications emerged last week that construction industry and mortgage firms may have jerked up investment opportunities in the new financial year, following positive returns on investments release last week by notable firms in the stock market.

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Real Estate ON AIR is a 30 minutes weekly radio show launched in March 2011 in Lagos as an ongoing process through which individuals, professionals, groups, organizations and societies enhance their ability to identify and meet real estate challenges. It is a programme that plans to open doors for buyers, sellers, investors, developers, estate agents, architects, surveyors, mortgage institutions, insurance firms and players in the real estate industry with critical and credible information on the Nigerian real estate market. It is fast paced and fact packed with undiluted real estate news, experts, interviews, call-ins, field reports, and timely market conditions. On air every working Monday at 12 noon on Classic 97.3 FM.

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