TheNewsGuru

Tag: Investment

  • Foreign investment into Nigeria drops by 43 per cent – UN report

    Foreign direct investment in Nigeria, Africa’s top oil producer, plunged by 43 per cent to $2bn, according to a United Nations report.

    Reuters reported on Thursday that investors were put off by a dispute between the government and South African telecom giant MTN over repatriated profits. Banks HSBC and UBS both closed representative offices there in 2018.

    That left Ghana, which is in the midst of an oil and gas boom and saw inflows of $3bn, as West Africa’s leading destination for foreign investment. Italy’s Eni Group was behind Ghana’s largest greenfield investment project.

    Foreign investment in sub-Saharan Africa rose by 13 per cent last year to $32bn, bucking a global downward trend and reversing two years of decline, according to the UN report.

    It said the development of new mining and oil projects, a new US development-finance institution and the ratification of an agreement to create a continent-wide free-trade area could further boost foreign direct investment in 2019.

    Africa stands in sharp contrast to developed economies, which saw FDI inflows plunge by 27 per cent to their lowest level since 2004, the United Nations Conference on Trade and Development wrote in its ‘World Investment Report’.

    Some African countries fared better than others, however. The Southern Africa region performed the best, taking in FDI of nearly $4.2bn, up from $925m in 2017. Foreign investment in South Africa more than doubled to $5.3bn.

    President Cyril Ramaphosa, who took office last year pledging to revive the economy, is seeking to attract $100bn in FDI to Africa’s most developed economy by 2023.

    Though much of the South African jump came from intracompany loans, new investments included a $750m Beijing Automotive Group plant and a $186m wind farm being built by the Irish company Mainstream Renewable Energy.

    Ethiopia remained East Africa’s top recipient of FDI at $3.3bn, despite an 18 per cent drop compared with the year before.

    Kenya, Uganda and Tanzania all saw increases in FDI inflows. Foreign investment in Uganda jumped 67 per cent to a record $1.3bn, boosted by the oil and gas development of a consortium that includes France’s Total, CNOOC of China and London-listed Tullow Oil.

    The creation of the US International Development Finance Corporation could help support FDI inflows this year. A replacement for the Overseas Private Investment Corporation, it will be have a budget of $60bn and a mandate to make equity investments.

    “The ratification of the African Continental Free Trade Area Agreement could also have a positive effect on FDI, especially in the manufacturing and services sectors,” the report said.

  • NNPC seeks investments in $48b oil and gas industry

    The Group Managing Director, Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru has urged investors to take advantage of the over $48billion investment opportunities available in the upcoming capital projects in the country’s oil and gas industry.

    Speaking at a Panel Session on: Insights on Future Exploration Hotspots: Opportunities for Africa’s Oil & Gas Industry under the sub-theme: The New Frontier for Africa’s Oil & Gas at the 2019 International Petroleum Week conference in London, he said the continent’s energy outlook was looking positive amid difficult operating and economic headwinds.

    In a statement, NNPC said Baru pointed out that over 41billion barrels of oil and 319trillion cubic feet (Tcf) of gas were yet to be discovered in sub-Saharan Africa alone, while between 2008 and 2017, exploratory success in the sub-region was at about 45 per cent.

    He said there has been a surge in capital expenditure (CAPEX) across Africa’s oil and gas sector, with close to $194billion earmarked to be spent between 2018 and 2025 on 93 upcoming oil and gas fields in Africa.

    “Out of this $194billion, Nigeria accounts for $48.04 billion (over 24.8 per cent) of the total CAPEX coming into upcoming projects in Africa over 2018 to 2025, with over 20 planned projects,” Baru said.

    He said 23.8 per cent of the CAPEX in Africa would be spent in Mozambique, 11.3 per cent in Angola while about 29.2 per cent would be spent in Tanzania, Senegal, Mauritania, Uganda, Egypt, Algeria and Kenya combined.

    Baru said with over 14 oil producing countries, Africa currently accounts for 7.5 per cent (126.5billion barrels of crude oil) and 7.1per cent (488 Tcf of gas) of global proven oil and gas reserves respectively.

    He said in terms of production, the continent accounted for 8.7 per cent (8.1million barrels per day) of global oil production and 6.1 per cent (21.8bscfd) of global gas production, even as it consumed 4million barrels of oil per day and 13.7bscfd of gas (equivalent to 4.1 per cent and 3.9 per cent of global oil and consumption respectively).

    Shedding more light on investment opportunities in Nigeria, Baru said the NNPC’s Frontier Exploration Service was currently drilling the Kolmani River-2 Well where desktop estimates revealed that about 400Bcf of gas is expected to be encountered.

    He said several new frontiers for exploration opportunities abound in Nigeria, even as offshore discoveries in the country have mostly been limited to between 1,000 – 1,500m of water depth.

  • We’ll sustain massive investment on infrastructure – Buhari assures

    President Muhammadu Buhari on Monday reassured Nigerians that his administration would sustain massive investments to upgrade and develop the country’s transport and power infrastructure.

    President Buhari gave this assurance when he received members of the Association of Retired Career Ambassadors of Nigeria (ARCAN) led by Amb. Oladapo Fafowora, at the State House, Abuja.

    The President told the retired Ambassadors that Nigerians will never forget the ‘‘lost opportunity between 1999 and 2015,’’ when the nation had huge resources at its disposal.

    He said: ”There is no part of the country I haven’t been to, having attempted to be President four times.

    ”I know the condition of our roads. The rails were literally killed, there was no power despite the admittance of some previous leadership that they spent $16 billion on the sector.

    ”Today, we are getting our priorities right and we believe that of the three fundamental issues we campaigned on – security, the economy and fighting corruption – we have remained very relevant and Nigerians believe we have achieved something.”

    He also used the occasion to appreciate the People’s Republic of China for financing some of the rail and power projects in the country through concessionary loans.

    ”I will do my best to see that where there are possibilities of making a quick improvement on infrastructure, we will do it,” he said.

    Buhari also appealed to the organised labour to consider what this government inherited and the more it is doing with fewer resources in putting the economy right.

    The President took note of some concerns raised by the retired Ambassadors.

    The concerns include an appeal for the adjustment of their pension entitlements, retention of diplomatic passport for retired career ambassadors, allocation of land for ARCAN headquarters in Abuja and adequate funding of the Ministry of Foreign Affairs.

     

  • Obaseki accompanies Buhari on investment tour in China

    The Edo State Governor is scheduled to accompany President Muhammadu Buhari on an investment tour in China following the federal government’s listing of several Edo State government’s projects which are backed by Chinese investors, on its itinerary.

    The Chinese investors-backed big ticked projects in Edo State include the Benin River Port in Gelegele, the Benin Industrial Park and a modular refinery in Benin City, for which the Edo State Executive Council has approved a N700 million, as initial investment.

    Sources familiar with the progress of the Edo-China investment collaboration, said “all these projects which Chinese investors have committed to, will receive final nod during the visit of president Buhari.”

    Governor Obaseki was at the Chinese Embassy during the week for more consultations with officials of the People’s Republic of China, preparatory to the Buhari-led investment tour of the Asian country.

    To further demonstrate the state government’s readiness to kick-start work on the modular refinery in Benin City, Obaseki on Friday at the weekly EXCO meeting, approved the release of N700 million as redeemable preference shares (investment) in the Edo Refinery and Petrochemical Company Limited.

    According to Obaseki, “the company will be involved in the production of petroleum and petrochemical products and other related businesses.

    “The venture will enhance the local refining capacity, thereby increasing the volume of nahtha, kerosene, diesel and residual fuel oil products available in Edo State.”

    He added that the venture “will create legitimate employment opportunities thereby reducing poverty and providing job opportunities for teeming youth in the communities and facilitate the establishment of a fabrication yard as proposed by the promoters, thereby creating basis for expertise, professionalism and further training in oil and gas industry.”

    The take-off of the Edo Refinery and Petrochemical Company follows series of groundwork by the Obaseki administration that led to the setting up of Edo Investment Scheme Limited, a Special Purpose Vehicle (SPV) to hold N2 billion investment funds in which the Ministry of Finance Incorporation (MOFI) and the Edo State Oil and Gas Producing Areas Development Commission (EDSOGPADEC) which are to hold shares of 20 per cent and 80 per cent respectively, would facilitate the state’s investment in various initiatives across the oil and gas services, petroleum exploration, drilling and filling station, sales and supply of gas, oil agro allied products, petroleum and petrochemical products and other related businesses.

    In the transaction design, the investment funds will be repaid in three years after the execution of the projects, besides the interest that will accrue to the state within the interim. The project will, in essence fund itself.

     

  • Buhari meets CEOs of Dutch companies, assures on safety of investments in Nigeria

    Buhari meets CEOs of Dutch companies, assures on safety of investments in Nigeria

    President Muhammadu Buhari on Monday met with Chief Executive Officers of Dutch companies in Hague.

    He assured them of a safe and secure Nigeria, where their investments would be safe and yield handsome returns.

    A statement issued by his Special Adviser on Media and Publicity, Femi Adesina, said the President assured the CEOs of a safe and secure Nigeria, where their investments would be safe and yield handsome returns.

    He said: “Stability was the first thing in our campaigns. You have to secure a country first, before you can efficiently manage it. Before businesses can thrive, security is paramount. That is why we lay so much emphasis on securing the country.

    “After security, our next emphasis is reviving the economy, and then, fighting corruption.”

    He commended the many Dutch-owned companies operating in Nigeria for dealing fairly, noting that with many of them “the relationship dates back to more than two generations and it is now almost a blood relationship rather than commercial.”

    Urging the businesses to build factories in Nigeria, and source raw materials locally rather than wholesale import, President Buhari said he was impressed with the economic cooperation between Nigeria and Netherlands.

    On Royal Dutch Shell and the harnessing of Nigeria’s gas potentials, the President said: “We are more of a gas than petroleum producing country. We should be making more money from gas today than we make from petroleum. But the plans we made were scuttled.

    “When I was Petroleum Minister (in the 1970s) for three-and-a-quarter years, the plan we had was to have 12 LNG trains by 1983, but more than a generation later, we are just on the 7th train. This was because some people came and did just what they liked. If they knew what they were doing, we would have gone very far by now.”

     

  • Saraki urges U.S. to take its rightful place in trade, investment in Nigeria

    Saraki urges U.S. to take its rightful place in trade, investment in Nigeria

    President of the Senate, Dr. Abubakar Bukola Saraki, has called on the Government of the United States (U.S.) to take its rightful place in trade and investment relationship with the country.

    Saraki made the call while addressing the United States Chamber of Commerce on ‘Doing Business and Opportunities in Nigeria’ as part of a parliamentary visit to Washington DC by a National Assembly delegation at the weekend.

    The President of the Senate, according to a statement by his Chief Press Secretary, Sanni Onogu, stated that huge investment opportunities exist in Agriculture, Financial Technology (Fintech), Infrastructure, Health and oil and gas in the country that promise huge return on investment for any investor.

    Saraki said: “The unique history of Nigeria and the United States, make it imperative that she should remain by far our biggest and closest trade and investment partner. The evolving new vision for the Nigeria economy is within this context of our relationship matrix with the United States as we share similar and converging values.

    “However, in recent times, it would appear that China has been the more willing and enthusiastic partner for business and investment. China has already invested or financed a total number of $22billion projects $45bn in Nigeria with another $40b ready for the next phase of infrastructure financing and investments.

    “China is approaching Nigeria and the African continent as an investment destination and offering very soft loans to the continent. We are indeed happy. But we are also aware that this is the primary place reserved for our core allies like the United States. We want to see the united States and investors like you here, to development a new lens for assessing Africa.

    “We appreciate the aids and humanitarian gestures we receive, but it is no longer enough and in our mutual best interest to continue to ignore the vast opportunity for trade and investment on the continent particularly in Nigeria. We want to see the United States successful with Nigeria diplomatically and economically,” he stated.

    He noted that while Nigeria is one of the Sub-Saharan countries eligible for preferential trade agreements under the African Growth Opportunity Act (AGOA) of the U.S. Congress, but going forward, the country intends to exit AGOA at some point into a full fledged trade agreement based trade relations.

    “Thus, I urge you to take away from our conversations today to better harness the potentials of our investments, your approach to doing business with us has to be strategic and purposeful. We are opening up avenues for private sector to come in and play their own part,” he stated.

    He further stated that the present leadership of the country is not unmindful of the security challenges confronting the nation as it has since commenced action to reform its security architecture in order to boost security for everyone in Nigeria.

    He said: “Indeed, we see the challenges as underscoring the urgent need for radical action on our part as Nigerian leaders. We are determined to bridge the gap of economic disparity in Nigerian society, so as to lift 87 million people out of poverty while creating opportunities and prosperity across board.

    “To do this successfully requires you, our partners, and investors, to join hands with us to build viable cooperation and partnership that will be of benefit to our two nations. Nigeria’ success holds the key to the success of Africa.

    “Our vision is to ensure that we form the nucleus upon which Africa can attain collective and sustained development. In order to do this, Africa needs you and we look forward to working with you,” he stated.

     

  • Investment inflow into Nigeria rises to $6.3bn – NBS

    Investment inflow into Nigeria rises to $6.3bn – NBS

    The National Bureau of Statistics (NBS) on Friday released the capital importation report for the first quarter of this year, with the investment inflow into the country estimated at $6.3bn.

    The investment inflow of $6.3bn is an increase of 17.1 per cent over the $5.38bn recorded in the fourth quarter of last year.

    The report stated that the increase in capital inflow in the first quarter of this year was driven mainly by portfolio investment, which grew to $4.56bn from $3.47bn in the previous quarter.

    The report noted that portfolio investment inflow was about 72.42 per cent of the total capital imported during the quarter.

    It read in part, “The first quarter in 2018 saw a continuous growth in total capital importation into Nigeria, the fourth consecutive quarterly increase since Q2 2017.

    “The total value of capital imported in the quarter stood at $6.30bn, which is a year-on-year increase of 594.03 per cent and a 17.11 per cent growth over the figure reported in the previous quarter.

    “This increase in capital inflow in Q1 2018 was driven mainly by portfolio investment, which grew from $3.47bn in the previous quarter to $4.56bn, accounting for 72.42 per cent of the total capital importation during the quarter.”

    Further analysis of the report showed that Foreign Direct Investment stood at $246.62m, dropping by 34.83 per cent from the figure reported in the previous quarter, and growing by 16.67 per cent on a year-on-year basis.

    The report added, “Foreign direct investment in Nigeria was still weak when compared to portfolio investment and other investment, representing only 3.9 per cent of total capital imported.

    “Equity investment, a sub-category under the FDI, contributed $246.61m or 99.9 per cent of the FDI during the quarter, while other capital under FDI contributed less than 0.001 per cent.”

    In terms of sectors where the $6.3bn was invested, the NBS report stated that banking remained the leading sector for foreign capital.

    It added, “During the first quarter, $1.18bn overseas investment flowed to the banking sector, which accounted for 18.7 per cent of the total capital importation. Financing exceeded production, servicing and telecoms sectors to become the second leading sector to receive capital investment, attracting $485.41m during the quarter.

    “This was followed by the servicing sector with $328.15m; production sector with $144.09m; and agriculture with $130.90m.”

    The report added that telecommunications, which ranked fourth in the fourth quarter of 2017, only had a total of $87.25m foreign capital investment in the first quarter of 2018, declining by 54.32 per cent from the $191.01m recorded in the last quarter of the previous year.

    In terms of states where these investment inflows were made, the NBS report noted that in the first quarter of 2018, Abuja remained the leading state to receive foreign capital inflow, after it overtook Lagos in the fourth quarter of 2017, recording an amount of $3.54bn.

    This was an increase of 32.24 per cent from the figure recorded in the previous quarter, when it reported $2.68bn.

    Similarly, it noted that capital importation to Lagos increased marginally by 4.59 per cent from $2.55bn in the last quarter of 2017 to $2.67bn in the first quarter of 2018, while capital importation to Akwa Ibom was $43.62m, which is a decline of 65.05 per cent from the $124.85m reported in the previous quarter.

  • Weekend Special: Top 25 businesses to invest in Nigeria with N100,000 or less

    The need for self independence has led many into undertaking several businesses that not only consumed the invested resources but also their valuable time. This is because of the missing knowledge of such businesses before the venture actually commences. More so, businesses does not necessarily have to begin on a big scale before profit can be made.

    Across the world, people are looking for small business they can do to meet up with their daily growing spending. With the world’s fast rising rate of unemployment, it has become paramount that every unemployed youth starts a business no matter how small the business might be at the starting point.

    According to McKinsey’s report in this year’s World Economic Forum held in Davos in which youth unemployment took centre stage; the report carries it that youth unemployment is growing in uncomfortable proportion. In India, which has one of the largest populations of young people in the world, 75 million youth are unemployed and more than 1 million people are added to the workforce each day. In Saudi Arabia, 70 per cent of the population is under the age of 30 and they are not finding jobs.

    In Nigeria, youth unemployment is as high as 50%. The number keeps increasing in geometric sequence. 75 per cent of university professors believe they are adequately preparing their students for the workforce. Conversely, only 40 per cent of employers take the same view.

    In most cases, it is not that those unemployed are not willing to start a business but their problem lies on finding the best business ideas to do with little capital they have at hand or were able to raise. So, if you are one of those that have little money like one hundred thousand naira (N100000), eight thousand naira (N80000), sixty thousand naira (N60000), fifty thousand naira (N50000), forty thousand naira (N40000), twenty thousand naira (N20000), even ten thousand naira (N10000) and the zeal to do business is in you; I have below a list of businesses you can start with such amount of money (N10, 000 –N100, 000 naira). Even if you don’t want to kick start immediately, you can prepare yourself to begin any of these businesses in 2018 or in the year to come. However, be aware that delay is dangerous; the earlier the better.

    What do you require to succeed in any of the business?

    • Your best brain
    • Right mindset
    • Passion
    • Dedication
    • Skills where necessary

    Why will these less capital businesses thrive well in Africa especially Nigeria?

    Yes! Businesses started in a populous continent like Africa is bound to thrive very well. Africa is one of populated continent in the world with a 38 percent urban population, India (30 percent) and nearly as China (45 percent). 52 African cities have a population of more than one million people.

    Nigeria is Africa’s largest country by population. Lagos state alone record 17.5 million in population according to Lagos state government but latest report estimates the population at 21,642,797, making Lagos largest city in Africa and the seventh fastest growing city in the world. Kano as estimated by the Kano state government records 3,626,068 in population. Ibadan has a total population of 3,500,000 as of 2015; Abuja 3,000,000; Port-Harcourt 1,947,000 and so on. So with this high population in Nigerian cities and rural areas, businesses are bound to do very well if other things being equal.

    Below are some of the businesses that requires a capital of N100,000:00 0r less;

    1. Beer parlour/bar business-Beer Parlour business is requires less capital start up. One hundred thousand naira will be enough to start a beer parlour business. Beer bars/parlours have become the top recreation destination for single and married couple, business people and the tourists. To draw huge customers and make more profit in your Beer Bars business, a full restaurant is smoke option and chilled beers which are served with snacks, fried snail, beef popularly called suya, chicken barbecue and fish pepper soup are added. With huge popularity of football fans in Nigeria and many other parts of Africa, if you add big-size TV to display football game, more customers of different classes of people will be attracted to the beer bars. Sometimes, especially weekends you can hire live bands to provide entertainment

    A good location in a densely populated and accessible part of town with a competitive price and excellent customer service is essential to the success of this business.

    1. Mini Importation business-Importation business is a very lucrative business and easy to start with as little as N10, 000 plus. Usually, you make profit on every sale and then keep increasing the business. However, to succeed in this business; you have to learn the dons and don’ts of the business. The internet has made everything easier to access. You can sit down at the comfort of your room and order for any product you want to sale.
    2. Restaurant business-Most single young ladies and men of these days prefer eating at well decent restaurant where delicious food is being served. Restaurant business is a flourishing business especially in most cities like Lagos, Onitsha, Abuja, Port Harcourt, Aba, etc where people are highly busy that never find time to cook by themselves. The business is not capital intensive. With N70000 you can do this business. The two most important things necessary to succeed in this business are ability cook nicely and neatness.

    PROFITABLE PRODUCTION BUSINESS-one of the high paying business you can start in your locality is production business. One good thing about production business is that you can fix and control the market price for the goods or product you produce rather than totally being control by market forces of demand and supply. Usually, most production businesses are capital intensive because costly machines employed in production. Starting production business can cost one as high as N300000, N500000, N1000000, and N200000, N750000, and N2000000+ depending on product you intend producing. However, you can still start some production business with capital as low as N100, 000.

    1. Perfume and liquid soap production-This business requires basic chemistry knowledge. With a capital of less than N80000 naira, you can start perfume and liquid soap production. For your liquid soap production, your first target market should be restaurant, hotel, fast food joints, beer parlours and catering centres. For the perfume production, you first target market should be high class professionals like bankers, lecturers, marketers, teachers and other service professional
    2. Fresh fruit juice production-The Fresh fruit juice production business is one of the profitable small businesses in Nigeria that is often neglected. The business sells fast most in highly populated cites like Lagos, Anambra, Port Harcourt, Abuja, Aba, Kano etc. Fruit juices are serve cold in filling station, hotels etc. So, outside the cost of buying freezer and power plant (Generator), you can start fresh fruit juice production with amount as low as N10000; N20000; N30000; N50000.

    PROFITABLE PRODUCTION AGRICULTURAL BUSINESS– These Agricultural businesses can be started as a sole-proprietor business and then grown into a full blown Limited Liability Company. Here are agricultural business that you can start with capital as low as N100000;

    1. Garri processing business – Rice milling is a fast moving business that thrive very in rural and sub-urban locality. This business often predominates in places like Abakaliki, Benue, Ajibode, Benin. Mechanizing this business in these areas is worth rewarding, however, mechanizing it may requires a startup capital of at-least 250000 -300000)
    2. Palm oil milling and processing business – Commercial palm oil milling and processing may required up-to a startup capital of 400000.
    3. Rice milling – Rice milling is a rural and sub-urban lucrative agricultural business. New technology and cost of machine for milling rice has drastically affected the start-up capital of this business. With the latest technology in rice milling, starting rice milling business can cost as high as N250000 to N750000.
    4. Small scale fish fingerling-Fish Fingerling is easy to start especially where there is availability of water supply. With the sum of N90, 000 to N80, 000 one can set up a small scale fish fingerling. In this business, you can be making over 100% returns but it requires care and monitory. Good water ph and climate conditions are necessary for the success of this business.
    5. Snail farming–Snail farming is not difficult to start and you don’t need up to N100, 000 Naira to start this business. With 50K to 80K, you can start snail farming in your locality. Snail is very expensive in the restaurants and hotels where they serve. So, after you finish rearing set of snail, you can always take them to restaurants and hotels for sale. Snail is a hot market and a market for high class people.
    6. Boiler poultry farming-This is one of the easiest businesses to start with little money. With N20, 000+ you can do this business. The business does not does not require skill. The major thing you needed in this business is availability of space and water supply. Day old chicken (boiler) may cost N150/each, so you can with 50 chickens which cost a total of N7500. In less than 9 weeks, you can start selling these birds at the rate of N1800 to N2000 naira per each. However, bear in mind that this business is seasonal although it can done at all time.
    7. Dog breeding-In certain northern part of Nigeria like JOS and southern part of the Nigeria, dog breeding business is thriving very well. Some people breed the dogs for meat (popularly called 404) and others for pet purposes. The business is a lucrative one. With seventy thousand naira (N70, 000), you can buy a female English dog and breed. When the dog delivers, it can give birth to seven…eight puppies which you can sell at the rate of seventy thousand naira each. The major cost you will incur in this business is in feeding of the dog. You have to be dog friendly for you to be able to do this business.
    8. Small scale piggery farming-Piggery farming is one the oldest lucrative business. Some people in the northern part of Nigeria, especially those with cold weather consume pork meat so much. You can start piggery farming with N60000+ and sometimes you need to employ an assistant.
    9. Mobile phone accessories business-Mobile phones accessories business is lucrative business. We have millions of GSM users. Mobile phones like Nokia product, Samsung product, Sony Ericsson product, Blackberry, Techno, and other smart phones; their repair parts and accessories are readily available in the market. A total capital of $ 120 (N20000) will be enough to start the business in a small scale however if you are to start the business in more large scale, the cost of starting may increase.
    10. Computer parts and repair business-skills on computer hardware repair and software troubleshooting are required in this business. You can easily acquire this skill or knowledge by attaching yourself to an experience computer hardware and software repair expert before you starting your own computer repair business. Usually, starting this business will not cost you up to N80000 and you can make big time when you become so popular.
    11. Mini Business centre-mini Business centre is a highly lucrative business especially when cited in within tertiary institutions like universities, polytechnics and colleges or around these institutions. A set of desktop computer at the cost of N25000, one three in one photocopying machine (Scanning, printing and photocopying machine) at cost of N60000, tables and chairs are enough to start this business. Snacks with soft drinks and few provisions are added to make it business, a mini business centre. So, a total amount of one hundred thousand naira is enough to start this business.
    12. Beads shop and making business
    13. Video centre, music and film copyright/ renting business

    Fast selling business – Most fast selling business are best started small and then grow later. This allow for testing varieties of products before settling with high profit yielding ones. Ladies wears and babies wears has proven to be lucrative and fast moving product to sell in Nigeria. Okirika Ladies and Babies wears are also in this category of business.

    1. Sales of ladies handbags, Jewelleries, wrist watches and perfumes
    2. Sales of babies wear

    Profitable internet business– the one of the less expensive business to start today anywhere is internet business. You can most internet business with capital less than N100, 000. However, starting any internet business requires that you have the basic knowledge of the internet. Again, it also requires that you grounded in the aspect of the internet business you intended starting. Here are some internet businesses you can do with N50, 000+;

     

    1. Internet course training
    2. Affiliate marketing
    3. Internet marketing business
    4. Blogging business

    25. Website development and Consultation

  • EIB, AfDB to support private sector investment in Nigeria

    The European Investment Bank and the African Development Bank have agreed to support the creation of the new Development Bank of Nigeria to strengthen lending for business and agriculture investment in the country.

    The European Investment Bank has finalized a US $20-million equity stake in the new financing institution, alongside US $50-million equity participation from the African Development Bank.

    The Development Bank of Nigeria has been created by the Federal Government of Nigeria to address financing challenges hindering private sector investment in the country.

    The Bank is called to play an important and catalytic role in providing funding and risk sharing facilities to micro, small and medium enterprises as well as small corporates.

    “The Development Bank of Nigeria will overcome the funding gap in the micro-, small- and medium-scale enterprises space and help businesses unlock opportunities across Nigeria. DBN’s ambition is strengthened by the financial and technical support of international partners, including the European Investment Bank and African Development Bank.

    The new institution builds on international experience and uses a business model that has demonstrated proven success to enhance private-sector investment across Africa and around the world where other financing options are inadequate or absent,” said Tony Okpanachi, Managing Director of the Development Bank of Nigeria.

    “Private sector businesses are critical to the development of the Nigerian economy as they possess huge potential for employment generation and output diversification. Nevertheless, there has been under-performance of these businesses and this has undermined their contribution to economic growth.

    Among the issues affecting their performance, the shortage of finance, particularly investment finance, occupies a very central position. The Development Bank of Nigeria is expected to contribute to mobilizing significant long-term financing to an important yet underserved sector with high development potential,” said Stefan Nalletamby, Director of the Financial Sector Development Department at the African Development Bank.

    “New private sector investment is crucial to create jobs and enable business to expand and limited access to long-term financing holds back economic growth. The European Investment Bank is pleased to support the new Development Bank of Nigeria to strengthen private-sector investment in Africa’s largest economy.

    We look forward to continued close cooperation with Nigerian and international partners to ensure that once fully operational the new Development Bank of Nigeria can help harness the country’s economic potential,” said Ambroise Fayolle, Vice-President of the European Investment Bank (EIB).

    “The European Union is committed to supporting private-sector investment in Nigeria. The new backing for the Development Bank of Nigeria by both the European Investment Bank, the bank of the European Union and the African Development Bank, with 13 EU member state shareholders, will make a clear contribution to tackling the lack of access to credit by entrepreneurs and businesses across the country.

    With more investment, we hope to promote a vibrant economy and stimulate growth, employment and increase opportunities, especially for youth,” said Ambassador Ketil Karlsen, Head of the European Union Delegation to Nigeria and the Economic Community of West African States (ECOWAS).

  • Nigeria’s economy attracted N20.89tn investments in five years – NBS

    Nigeria’s economy attracted N20.89tn investments in five years – NBS

    Nigerian economy attracted a total investment inflow of $68.5bn (N20.89tn) between 2013 and 2017, figures obtained from the National Bureau of Statistics have revealed.

    An analysis of the capital importation report made available to our correspondent on Friday showed that investment inflows came from three main sources.

    They are Foreign Direct Investments made up of equity and other capital; portfolio investments, comprising equity, bond and money market instruments; and other investments made up of trade credits, loans, currency deposit and other claims.

    A further analysis of the report indicated that the Nigeria’s foreign exchange policy and the economic recession largely shaped capital importation over the five year period.

    For instance, the report stated that prior to the economic recession of 2015, Nigerian capital importation was high and rising.

    It stated that the level of investment inflows grew from $20.83bn in 2013 to $20.76bn in 2014.

    However, at the onset of the economy crisis, the report stated that investment inflow recorded a sharp decline to a half of the 2014 value of $20.76bn, dropping to $9.65bn in 2015.

    The report showed that in 2016, the value of investment inflow remained depressed, decreasing by $4.55bn from $9.65bn in 2015 to $5.1bn.

    It, however, noted that a recovery began in 2017, as investors raised their stake by $7.1bn to $12.2bn.

    The report showed that with a total inflow of $47.4bn, portfolio investment made up of equity, bond and money market instruments, accounted for the highest investment within the five year period.

    This is followed by other investments such as trade credit, loans, currency deposits and other claims with $14.11bn.

    Foreign direct investment made up of equity and other capital had inflow of $7.03bn.

    Commenting on the issue, the Trade Advisor to the Minister of Industry, Trade and Investment and Chief Trade Negotiator for Nigeria, Ambassador Chiedu Osakwe, said contrary to widespread belief that foreign investors were shying away from Nigeria as a result of uncertainty in the foreign exchange market, their interest was the highest in recent times.

    He said that the interest by investors in the economy was enormous owing to the investors’ confidence in the ability of the administration of President Muhammadu Buhari to reposition the economy on the path of growth.

    He listed some of the countries where investors were investing in Nigeria as the United States, Japan, Singapore, China and United Kingdom.

    He said, “The interest by foreign investors in the Nigerian economy is the highest that we have seen since 1979. The question we ask ourselves is, why? And the answer is based on the scale of the Nigerian economy, the opportunities of the economy and the growth potential.

    “And the key is the high standard governance bar that President Muhammadu Buhari has set that everyone must be under the law and that economic crimes and misdemeanours shall not go unpunished.

    “We are witnessing the keenest and deepest expression of interest in the Nigerian economy from the United States, Europe, United Kingdom, Singapore, China and Japan.”