You Can Invest Here, Nigeria

Introduction

Someone from outside the country, a foreigner contacted me some days back, and asked me several questions because he wanted to invest here, beneath is the reply given to him based on the questions he raised which is related to what he has been reading and watching on social media about Nigeria and mostly as related to the global demonstration that followed the death of Mr. George Floyd in America, that “Black Lives Matter”.

Answering Your Questions:

1. Religions and Tribes: Nigeria is a multi-religious country, there is freedom of religion here. There are Muslims, Christians, and traditional worshippers.

There are mosques, churches, and other religious houses in Nigeria. We live harmoniously with one another, because in a family you will find combinations of those religions there, thus, a muslim will not rise to kill another person of the same religion because he knows that there is someone like that in his family belonging to another religion.

Any leader who wants to intimidate others for his or her religion, the activists would arise to defend the person and of course the court too would interpret the law to the person.

2. Racism and Human Rights: Nigeria is not a Racist country. In fact Nigerians love strangers and we welcome them with open arms. Therefore, you will see many Lebanese firms, Chinese firms, and other people from other countries establishing their companies here and thriving here, Nigeria. 

It will interest you to note that even Nigeria police officers treat strangers and foreigners with glove hands, they treat them specially, that cannot happen in other countries, they don’t treat strangers with glove hands in other countries. That is one of the rare benefits foreigners enjoy in my country.

In fact they used to win contracts with the federal government and state governments and would be working with them. I doubt if that happens in other countries, where a foreigner would win contract and be working for the government of the country and state.

There are Human Right activists in the country. We add human face to all we do. When a person is following the laws of the land he can NEVER enter into troubles.

It will interest you to know that I also belong to amnesty international which is an online human right activist group and have written in support of release of some people suffering in china and other countries to their authorities there.

Check the online statistics and you will discover that hardly can you hear that a law enforcement agency in Nigeria harass foreigners. We love foreigners, we are open minded. I doubt if there is any country in the world that openly gives foreigners means of operating like Nigeria.

3. Tribes: There are different tribes in my country. We are called unity in diversity. And there are different languages being spoken by each tribe which is being advised that we should keep our languages.

4. Language: The language for teaching students from kindergarten till university is English language because Britain is our colonial master and so we adopt their language as the lingua franca because of the multi-culture and languages in the country. Thus, English is the common language in the country. However, individual tribes continue to speak the language to their children to preserve their culture and tribe.

5. Building: Governments (Federal and State) have buildings which are constructed that individuals do buy. And you may come and build your own house if you like, at a place where you purchased. One of the best location that I can approve for you is the Federal Capital Territory (FCT) called Abuja, there different people from other countries reside in.

However, if you want to establish a company and you will be importing materials that would be coming through ships (sea) the place I can suggest is Lagos or Abeokuta (Ogun State) and or Ibadan (Oyo State). But because Lagos is full of people now many people consider either of the two states, Oyo or Ogun which is neighboring states to establish their companies in. So it depends on your choice.

6. On Investment: I have been making inquiries into different businesses in the country. However, what I would like to say is that any business that you will venture into, you cannot make the gain once, you will have endurance as a business person.

Let me explain it to you using civil servant.

You know that civil servants do not get to the peak immediately they are employed into the company, that is how it is with business, you will be growing with it, and your business would be making names gradually until it becomes a household name in the area you are.

However, another option is investing in some established companies and you will be getting your shares every year or whenever the dividend is shared.

One of the sure business that anyone could invest in is Pharmaceutical company, I said this because drugs would continue to make sales all over the world because people will always fall sick, there will always be accident and people would need Iodine, people will continue to give birth (parturition) and they will need needle and syringe to give them drugs.

This pandemic has made the Central Bank of Nigeria (CBN) to say that anyone who wants to establish pharmaceutical companies should come and they will take loan at a very reduced percentage.

Another business is husbandry, animal farming, where you will be rearing cows, goats, and other animals. They are silent source of making money.

And of course you can also register construction company and be taken contracts to construct buildings and roads for the government.

Another business is the money Lending business. In this kind of business, you will lend money out and at the end of the month they will pay back with interests. Many business people borrow money and even civil servants in Nigeria.

7. Securing Job: With your age it is not advisable that you look for job. Your children could look for jobs and they will secure jobs. But if you can think along the line of business, then it will be better for you.

8. On Tax: My country collects tax, but the tax is not as high as those being collected in advanced countries.

9. Reliability of Banks and Bankers: Banks in my country are one of the establishments which is most reliable, because of their capital base that have been increased by the government.

Because of the name of the country that has been drag into the mud by fraudulent people this has made the government to establish anti-fraudulent practices, called Independent Corrupt Practices and other related offenses Commission (ICPC) economic and financial crime commission (EFCC), these establishments have put all and sundry under tight leash not excluding the bankers.

Therefore, bankers in my country are also reliable people.

10. Verifiable: All these could be verified from anyone who has been to Nigeria before. Again, you may through style contact any Nigeria you know and ask from the person to give you some notes about the country from you.

11. Major Albatross: The major problem in the country is poor Electricity, therefore, anyone who wants to enjoy the country usually buys generators to power their houses and businesses. In the recent times, there have been solar light installations into different houses and businesses.

This will give you heads up about my country. Each government is working towards ensuring that electricity improves in the country and therefore, the electricity has been under private partnership companies to bring about improvements, however things have not totally changed but it is improving.

Summing it up, if you can invest in Nigeria you won't regret it.