THE LAND IS GREEN WITH OPPORTUNITIES TO MAKE WEALTH

I would like to think that one of the reasons why countries like Nigeria are tagged as “developing’ is related to the fact that the ‘land is green,’ with many untapped resources and opportunities within its borders. In developed climes it is very easy to believe that there are very few vistas of opportunity available,as almost every avenue has been explored and exploited.

Truth be told, there are many gaps left here with opportunities lying fallow waiting to be converted to wealth by the discerning entrepreneur. One thing that cannot be said about Nigeria is that it is saturated,

with all opportunities completely taken over. If you need evidence that this is so just visit the International airport and see the number of foreign nationals trooping in. After all Nigeria is hardly a tourist destination. These people don’t come for fun rather they troop into Nigeria for business reasons.

Our land is definitely green but in case you are wondering where the opportunities are permit me to use the remainder of this article to point you in the right direction:

One area with huge potentials for wealth creation is agriculture. A country with under two hundred million citizens requires massive investment in this sector to feed the nation. Sadly the feedback is that it always seems we are a few steps away from not being able to do so. We still have sizeable arable land lying fallow in many areas that can be converted into farmland. Farming is still very far from mechanized but is still done predominantly in an old fashioned way devoid of technology. It is very hard to go wrong in Nigeria if you invest in agriculture.

The arts and entertainment is another sector that throws up many opportunities. In the last decade a lot has been done to shift the populace to embrace local entertainment and this has produced a rapidly growing class of entrepeneurs  - musicians, actors, comedians, producers, scriptwriters and directors. Cinemas are springing up in many cities and people seriously want to be entertained. The internet has also brought about new opportunities for people to get entertained. If properly managed the entertainment sector is lucrative.

What about financial services? The current financial services framework in Nigeria does not cater to the needs of the rural population, which make up 53 per cent of the total population. Imagine if one could create a concept to meet the finance needs of the rural population of Nigeria? I am always amazed that whenever I go to the U.K financial services products are one of the most aggressively promoted – loans, credit, debt consolidation, insurance etc. I am convinced that some of the business models developed in Europe might work here if they are tweaked slightly. It will take people with guts, drive and determination to establish these ventures here, the good news is that these qualities are in good supply.

Hospitality and tourism is another sector worth looking into. I know the government is working hard to revamp the potentials in this sector but the sector needs more participation from private individuals. Why can’t Disneyworld and other world class theme and amusement parks be built in Nigeria? We definitely have the population to patronize such ventures. Joint ventures can be undertaken between government and the private sector to develop historical sites, drive tourism and proceeds shared. We have lots of festivals, shrines, plus extremely rich cultures that many foreigners would like to know more about. Right now no organization is seriously doing anything to close the gap.

Nigeria, with a housing deficit of seventeen million homes has thrown up major opportunities in construction, housing and real estate. The housing sector as it currently is today has nothing for the common man. Can affordable housing be achieved in this country? Are there any solutions that can be deployed locally? Affordable housing provision would be a huge income opportunity for any discerning investor.

One sector that has been crying out for more major investment is the health sector. Every year Nigerians spend billions of dollars travelling to India and the Middle East for treatment. There are many ailments that cannot be treated locally, thus creating a huge opportunity. There are even very few quality diagnostic laboratories, more are needed to cater to the needs of a growing population. Nigeria right now cannot boast of a single world class health facility. Those who can set this facility up locally may be licensed to print money as the foreign exchange being sent outside of the country for overseas treatments will now be channeled to be spent here.

The movement of goods and individuals could also do with further revamping. We need to harness better the potentials of the waterways, of which we have so many in this country. This country needs to be weaned off over dependence on road networks as other alternatives need further development. There is also rail to consider.

Finally, power generation. The teeming population of Nigeria would surely welcome an immediate solution to power outages that have plagued them for decades. Can alternative energy sources such as the wind and solar power be effectively harnessed to reduce dependence on coal or hydro-electric power? This is indeed a huge opportunity waiting to be tapped to produce wealth for its promoters.

Our land is truly green with opportunities to make it big. This is what foreign nationals trooping into Nigeria seek, it’s there for the taking. Do your homework well and endeavor to plug in and milk the opportunities in one of these sectors as soon as possible. I see you beginning to thrive in no time!

Article By: Doghudje Kenneth