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Investing in a good business location is one of the most important prerequisites for making a profitable venture out of a business. An ideal location is one which has proximity to all basic requirements necessary to run an organization in a cost-efficient, yet smooth manner. In fact, most of the businesses fail to stand tall for a period of more than 5 years, due to lack of geographical advantage. In the last decade or so, Nigeria has gained prominence as a potential business ground for many investors, and enlisted below are few recommended cities ideal for to explore for your business interest.
Known to be one of the busiest commercial hubs and a center of excellence in Nigeria, Lagos is certainly the best city for investing in a business setup. A healthy population of 20 million individuals make way for a wide range of business opportunities right from tip to toe. It may be an intense competing ground for a few sectors, but the benefits you reap in long term can be massive. With highly developed infrastructures in comparison to other cities in Nigeria, Lagos is surely the up and coming place to invest in.
The Federal Capital Territory of Nigeria, Abuja has a comparatively lower population than that of Lagos, but with an increment of 35% population every year, it is expected to catch up soon in terms of strength. The key point here is the fact that this territory has the highest per-capita income in the country, and that simply means the citizens of Abuja have higher purchasing power than the residents of other cities. This opens up a packet-full of opportunities for entrepreneurs who are looking to establish their business in Nigeria.
If you are looking to venture out towards the northern part of the country, the commercial center of Kano is a good choice, despite the security issues in the city. Known to be the fastest developing cities in Africa, Kano is the second-most populated region in Nigeria. Offering a wide assortment of market for all kinds of products and raw materials, Kano is one of the top three business locations in the country with ample resources to capitalize upon.
The largest city and the capital of Rivers State, Port Harcourt is the fastest growing economy in Nigeria, with ever-increasing per-capita income. The state houses a majority of emigrants, which can be the primary target for many businessmen looking for a strong customer base. If the stats are to be believed, investment at this location can be recovered back within 6 months to a couple of years, provided the business plan suits the exact requirement of the place.
One of the biggest and most densely populated cities in Nigeria, Ibadan is considered to be a great city for profitable business investments. This capital city of Oyo State has all the makings of an ideal business location, which is expected to face an influx of local and foreign businesses, given the fact that many foreign investors are interested to book their space in this city.
No matter what your business entails, it can be frustrating to run out of funds, when you are at the brink of closing a deal. Use the services of Sharemoney to transfer money online to Nigeria so that you don’t miss out on any financial opportunities here!
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