Irrespective of the economic knockdowns and insecurity issues that flood the Nation in these times, factors and resources exist that characterise Nigeria as a goldmine.
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The bad governance and terror are only but a distraction to the value of its resources, so much that individuals are more concerned with talking about bad situations than looking for the opportunities that are in great abundance within the territory.
Here are some of the untapped investment opportunities that are bound to transform an average individual into a millionaire if efficiently exploited.
Since time immemorial, agriculture has always had a special place in the ethnic societies that abound in Nigeria. It is a part of us, such that a large percentage of households are involved in subsistence farming, however, these individuals only dwell in rural environments.
It has been a challenge to feed the large population of people who mostly reside in urban areas, relying on imported foods. By 2018, it was reported that Nigeria spent $22 million on food importation. Which is abysmally bad, knowing the availability of arable lands and labour at its disposal.
Food processing is another important aspect of food production that has not been fully explored. Nigeria’s over-reliance on foreign foods is owning to the lack of innovation in preserving and processing farm produces.
In terms of finances and credit instruments, the agricultural industry is highly favoured. In fact, financial institutions charged with the provision of grants, loans, and capital abound to encourage more investments in the sector.
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It is almost a jingle in the mouths of foreign and local investors that “no one can go wrong with real estate investments”. From the highly commercial city of Lagos to the central state of power, Abuja, several individuals and companies are very active in this sector. Land is widely available in Nigeria. Unlike most assets, Land always appreciates.
Oil and Gas
Crude oil is Nigeria’s major source of foreign exchange with reserves measured at 37.2 billion barrels and production at 2.28 million barrels a day. With this estimate, Nigeria has been ranked as the largest oil producer in Africa. Investors making an entry into the industry can take part in areas such as exploration and exploitation, pipe-lining, well services, petroleum transportation, construction, and installation, refining.
Cryptocurrency might seem risky and volatile but more people who have gone into it have made more gains than losses. This is because the currency system is decentralized and unregulated, hence, there are no crackdowns on laws or tax payment; totally a free and independent finance world. A system that is readily available to the least of risk-takers. An individual can invest as little as a N100 and make returns at the end of the day in the world of Crypto.
The technology industry is just emerging and fast-rising in Nigeria. It has been recorded that about 76 million Nigerians use the internet in a day. Now, imagine the amount that can be generated from this teeming number. FinTech (Financial technology) in Nigeria is beginning to make giant strides in the global economy.
This has become a great sign for many investors looking to make a big game in the Nigerian eCommerce world. Nigeria also has many problems that need to be solved via the internet. This, in fact, makes it a time for interested investors to plough right in.
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