3 Big Business Needed In Nigeria

In this post, we will look at big business needed in Nigeria as solutions to a wide range of problems, Nigeria is currently in a situation where one can no longer cope with the demand for US dollars which is needed for importation, meanwhile, the country is importing over 1.5 billion pieces of clothing every year now when you think of the current global supply chain crisis think of the cost of shipping, this is a big problem and a high opportunity in Nigeria.

3. Business Needed In Nigeria

1 Retail Clothing Group

In Nigeria, over 1.5 billion pieces of clothing are imported every year, no country in the world can cope with this, there is a need for clothing and clothing materials to be used locally.

The Foschini Group in South Africa is a good example of the type of clothing group needed in Nigeria, the Foschini group has more than 3,000 stores and produces most of its clothing in South Africa, Nigeria currently has nothing like it so this is a huge opportunity for Nigeria a coup try of close to 300 million people.

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The Nigeria government can enter into a PPP joint venture with an investor and ensure at least 50 percent of all the clothes worn on the counter are manufactured in Nigeria with local sources of material, the Foschini group in South Africa grew so big that they acquired the UK and Australian brands and started exposing clothes manufactured in South Africa and selling them as UK brands.

Nigeria has cheap labor and all the raw material needed to do exactly that joint venture like this are guaranteed to succeed in Nigeria.

2. Electricity Company

The current general electricity arrangement in Nigeria is not reliable it doesn’t work has never worked and quite frankly it doesn’t look like it will ever work in Nigeria Individuals and businesses are forced to invest a lot of money in buying power generators and then by highly inflated diesel to generate their electricity.

3. Housing Business

Housing in Nigeria is also a business needed in Nigeria, and it’s a massive opportunity what is exciting about this is the fact that people have not even started to scratch the surface of it, currently, people in Nigeria are into real estate for the investment aspect of it but where the opportunity lies are the business of it.

Real estate in Nigeria needs to be seen as a business and not just as an investment, Nigeria needs housing rental apartments in all sizes and budgets, the second richest man in China made his billion from running real estate as a business, he provided and managed housing for billions of people in China.

In Nigeria, there is a 60 billion dollars worth of housing deficit by the year 2050 this deficit would be well over 200 billion dollars the business opportunity in this is enormous. My research found these three businesses to be critically needed in Nigeria, there are now risky businesses with very good long-term potential.