₦airaland Forum

Gerrard59:
I think anything that doesn't involve manufacturing/production is bound to be casted. How come Nigerians have not copied the Indians, Lebanese and Chinese in opening factories everywhere?

Do you think that is due to our inability to go the long haul and be adventurous?
Is there anything we can do to improve that capacity among all of us

anonimi:
Do you think that is due to our inability to go the long haul and be adventurous?
Is there anything we can do to improve that capacity among all of us

I think most want businesses that generate revenues (profits) quickly. Another one is categorising their side hustles as entrepreneurship. Yet another is most people just jump into "entrepreneurship" immediately because that is the in-thing even when stats show that successful entrepreneurs start their businesses at a mature age of 35/40+. Even at that, with all the so-called entrepreneurship or start a business hullabaloo, the unemployment rate remains very high.

Gerrard59:
I think most want businesses that generate revenues (profits) quickly. Another one is categorising their side hustles as entrepreneurship. Yet another is most people just jump into "entrepreneurship" immediately because that is the in-thing even when stats show that successful entrepreneurs start their businesses at a mature age of 35/40+. Even at that, with all the so-called entrepreneurship or start a business hullabaloo, the unemployment rate remains very high.

Of course the unemployment rate is very high because they are just starting and in 10-15 years time they would be the employer of labour.

Where are the jobs for the populace to experiment with before going into entrepreneurship? Once you find an average business that is profitable, it pays more than those most job available to an average Nigeria I.E. if you see the job self.

Gerrard59:
If those are the kind of businesses you want someone from Germany to set up in Nigeria, it's better he remains in Germany. No wonder Dr Ola opined that Nigerians aren't enterprising. Na lack of better jobs dey make people set up "businesses" that are best salaried self-employment (her husband opined this).

These are options listed depending on his capital hence i listed many options including importing of abroad used car nd electronics which requires lot of capital.

All these businesses i listed including importing of foreign brands nd be the official distributor here requires millions of nairas!! These businesses anyone budgeting around 5 to 10 million can go into!! To be official distributor or agent isn't beans.

About uber business,it was a suggestion,all my calculation was based on small capital required!

About abula restaurant, sorry if you thinking I'm talking about local abula store. Check iyabo ojo abula restaurant that's what I'm talking about.

Anyways all what i listed excluding cars and electronics importation can get started with small capital. Op never gave us is budget hence these suggestions,if he mentioned around 100million upward i wouldn't have mentioned any of that!

Kekereekun123:
as usual you will come to display your limited exposure.

Have you see the investments snd expansion of domino all over lagos. Why have foreign brands not come it - its because the market is not a promising one.

The days of having 5 uber cars are over. Operators are struggling to even break even

There are alot of rich people in Nigeria and he cannot compete with them in those businesses. He should stay put

You brought up another point I forgot to make. Yes there are fantastically poor Nigerians but there are also very very rich folks here.

In my real estate side of things I’m aware of folks planting buildings worth hundreds of millions and all cash, no finance.

How does this affect OP, don’t underestimate the burying prowess of Nigerians.

Also someone mentioned bukateria. A banking friend of mine told me that a few popular ones deposit approximately N100K twice a day.

Kekereekun123:
as usual you will come to display your limited exposure.

Have you see the investments snd expansion of domino all over lagos. Why have foreign brands not come it - its because the market is not a promising one.

The days of having 5 uber cars are over. Operators are struggling to even break even

There are alot of rich people in Nigeria and he cannot compete with them in those businesses. He should stay put

You that have unlimited exposure the only way is talk down on your country as usual while worshipping white people?

Do y'all understand what we call suggestion? Not necessarily I'm forcing him to do what i listed

Don't forget all these big companies started from somewhere,you can just enter Nigeria market expecting to take over!!

My fist boss i worked with started with distributor of laminating film from China,from there he started his only laminating film from China nd sells in Nigeria to whole sale nd relatailer,later he got introduced to printing world,he looked around nd got rare printing machines that are scarce here because it's damn expensive nd started printing in high rate because of scarcity,from that he started selling laminating machines,printing machines,printing inks,banners etc

This man now is just swimming in money!! He literally started from something small to something big!!

My dad's friend is also abroad returnee that started an event center around ikeja,he rents out white horses ,expensive and exotic cars,he also handles burials ceremony!

He was the person that got the contract of late awolowo's mother burial. If not for corona people would have started paying in advance for shows and ceremonies!

So please because i didn't join bandwagon of people like you to talk down on Nigeria doesn't mean I'm ignorant!

You seem set on a particular industry, and that's okay, but have you considered others? What if you could be very successful doing business in something else.

If you have a passion in one area, successful businesses in something else could give you freedom to explore it and develop it with less pressure.

seguno2:
Focus on agriculture when the Fulani herdsmen terrorists will destroy your crops and even kidnap you join?
If they can do that to Olu Falae, is anyone safe

lol, this one loud oooo

Gerrard59:
I think anything that doesn't involve manufacturing/production is bound to be casted. How come Nigerians have not copied the Indians, Lebanese and Chinese in opening factories everywhere?

events center self dem cast am. Now there are more event centers than weddings. Used to work in Oniru while in 9ja.some events center there never host any wedding since them build am. Sigh

EgunMogaji2:
Thanks for the mention.

Personally I cannot in good faith recommend that anyone should move to Nigeria. You should move to Nigeria because that's is where you want to be, not based on recommendation from someone else.

DO NOT MOVE TO NIGERIA IF:

You need uninterrupted electricity.

You need safe pipe borne water.

You need hygienic waste management system.

You are anxious about safety.

You need a government with clear policies.

CONSIDER MOVING TO NIGERIA IF:

You fancy yourself as the early Americans who came in killed all the Indians, took their lands and became overlord. Pretty drastic statement I know but to survive in Nigeria you need to be near ruthless. Not unlawful but ruthless. It has been my experience that being seen as kind, generous, caring is taken as a sign of weakness and a mumu.

To OP:

I was born in Nigeria and grew up here till I finished poly.

I retired back to Nigeria 18 months ago after 33 years in the USA. As an American citizen i could pretty much move to almost any country in the world and live there successfully on my retirement income. I chose to come back to Nigeria because frankly I love Nigeria and I could give my little means back to the country that gave me so much.

There hasn't been one day that I didn't wish I returned much earlier as Nigeria is good, very good, to me. This is much to the chagrin of most on here whop sees Nigeria as nothing but a death wish. I suppose I could share there macabre ideology about Nigeria if a was a 20 something year old that is still finding himself.

Moving to Nigeria should never ever be done on a whim. It's should be attacked like a military assault.

My move started around 2010. After I left in 1986, I didn't return for a visit until 2006, 20 years gone. On that trip I was able to see some changes and opportunities in Nigeria. So I made a plan to start spending my yearly vacations in Nigeria so I can get used to it. Between 2006 and 2010 I came home once every two years.

Come 2010 I really started putting things in gear. I came home much more frequently, some years twice. Between 2015 and 2019 I came home around 4 times a year. This is important, the back to back trips. It's on these trips that I convinced myself that I could actually do this. Live in this near lawless, ungovernable country and actually have fun and pursue opportunities.

One sunny day in 2019 sitting at my desk in the office in Los Angeles I upped and quit my lucrative career and move back to Nigeria. Now I moved back to my own house that I've built in that timeframe and fully furnished, my own vehicles that I've stashed in that timeframe.

I wrote all this in detail for others to read carefully as they make their choices. One of the most difficult things for returnees is when they move back and they have to rent or live with families that they hardly know. Some think they can only make it in Lagos or Abuja and pay N1M a year rent. I pay N0 rent. Some can't drive and take Uber. I pay N0 because I drive myself (mostly after heavy praying).

You cannot do a successful business without being on the ground and doing your own critical study. All the studies and plans that I made about Nigeria while I was in the USA has been thrown away. It's near useless.

So in closure, move to Nigeria because it's what you want to do, not because someone think it's a good idea. Move to Nigeria with residence and vehicle already sorted out. Have a bank account already funded (you can do this while your win the oversea).YOu can fund your bank without going through anyone so no one will know if you are a thousaniare or millionaire. And for the love of god do not use your actual physical home address at the back. The staff are suspects.

Good luck too all of us, those of us coming back, those of us heading out and those of us already here.

PS: Rely on no one. Your friends/family have their own palava going on. Most of the promises made too you while you're in the abroad will not pan out.

PPS: Nigeria is blindingly expensive, frankly I don't know how some do it. You will need to stop using pounds/dollars to justify at some point. I have a gen that I run and it consumes N5K gas in 3 days. Some people only make N20/N25K per month. So relatively I am wasteful.

You should consider generating your electricity via solar instead

hahn:
You should consider generating your electricity via solar instead

Thanks. I actually own a renewable energy company. There are some things I do that my current solar capacity cannot handle yet. I could easily upgrade but I’m changing locations soon.

Petyprincess:
It is dissapointing to see comments talking down on their own country nd when foreigners do talk down on Nigerians they start getting furious!! One even said to employ white people in Germany ,seems most people don't know the large capital required to have a successful business in west!! For op to have decided to move to Nigeria nd start a business he must have considered many reasons for his decision!

Op don't let know one deceive you,Nigeria is a cool country for investors nd business owners!
Things you can go into are importing of fairly used cars,electronics etc to Nigeria.

Let's talk about uber business,you can get 5 cars nd hire drivers which you gonna have an agreement in terms of percent that will be your share everyday.

Should we talk about makeup brands? As a makeup lover nd someone's that loves foreign brands makeup, it's an opportunity to be official distributor of rare foreign brands that are scarce here,the funny part is all these products are more expensive than the foreign price.

You can also start a local pizza restaurant,in foreign countries they have different pizza restaurant but in Nigeria i have only been seeing domino's pizza nd no other restaurant,so it's an opportunity.

[b]You can open a abula restaurant,where they will sell only swallow foods,[/b]see there are many businesses any person with thinking faculty and capital can start in Nigeria!!

Above all do your findings well b4 making a difficult decision!

If these are the businesses you're suggesting to someone who hasn't lived in Nigeria his whole life, then you're really crazy.

roteblomen:
If you moved back to Nigeria from the west, what challenges are you facing and how would you advice someone that is planning to move and establish a business in adjusting properly, with due emphasis in navigating the business environment of Nigeria? I am Nigerian German, in my late 20's, and hungry for success. I believe Africa, especially Nigeria is the new wide west to make big bucks quickly.

Good advice will be appreciated. Thank you.

If you can't find your way in a working economy like the one in Germany, what makes you think you can make it in a harsh economy like the one in Nigeria and make "big bucks" like you speculated?

How much do you have (approx) to invest in Nigeria if you eventually come back?

Don't let all these "invest in Nigeria" people fool you, make sure you make extensive research before making pulling the plug so you won't regret it at last!

Activist001:
If these are the businesses you're suggesting to someone who hasn't lived in Nigeria his whole life, then you're really crazy.

Actually you the crazy nd demented one here!! As if not the same Nigerians doing odd jobs in western countries

I just don't understand how some stupid guys will just attack a suggestions yet they will never comment anything reasonable!!

Did you see me forcing the op to take my suggestions? Probably i should have advised the op to open a big factory like dangote or open a oil company business since he lived in western country nd has millions of dollar mtchew.

A lot of advice has already been offered, but I will add my 2 cents. If you decide to relocate, do not try to replicate your life in the diaspora or you will consume your entire capital on daily expenses. You will need to suck it up and start by living like the vast majority of Nigerians with limited water and electricity supply, sub standard transportation and relatively insecure environments. Secondly, think long term. Your earnings will need to be enough to fund not only your currently lifestyle but also your retirement. I'm sure you know that there is no social safety net in Nigeria like in Germany. A large number of retirees in Nigeria depend on their children to survive so keep that in mind. Register a limited liability corporation and try to raise local capital. Do not commit all your personal funds to the business.
Finally, I'm assuming you are still relatively young so this may be the time to take some risks. There are significant opportunity costs involved, but then, it will be one hell of a ride and experience you will never forget

EgunMogaji2:
Thanks. I actually own a renewable energy company. There are some things I do that my current solar capacity cannot handle yet. I could easily upgrade but I’m changing locations soon.

Interesting. Good luck

dasparrow:
Lol, I know whom you're talking about. Phrankleen. I thought Phrankleen wants to pay $17,000 for Canadian papers for him and his family? He made a video about that so I was under the impression he has already moved to Canada.

I read a comment on YouTube under one of Wode Maya's videos were the commenter complained about Phrankleen's rudeness. Now you mentioned it too so I guess it's true. I don't really follow Phrankleen, partially watched 1 video of his but I do watch Wode Maya's videos.

Living in Nigeria comes with a whole lot of challenges. I don't know how things are in other African countries but Nigeria is not an easy country to live in.

I did move back to Nigeria from the States during the Goodluck Jonathan administration because family members were nagging me to come back. When I moved back, I realized I will not be able to live in Nigeria ever again. Nigeria is not for the faint hearted and if you are a gentle person, Nigerians will consider you weak and one to be taken advantage of. I couldn't stay so when Buhari came into power and with the rising costs of living, I left Nigeria again. My cousin who moved back to Nigeria from the UK during GEJ's administration also left and went back to the UK. So many Nigerians from the diaspora that had moved back to Nigeria during GEJ'S tenure moved back overseas when GMB became president.

As much as I would love to retire in Africa when I am old or semi-old, I really don't know which African country would be ideal because Nigeria is not it for me. I know quite a few Nigerians want to retire in Africa too but don't want to come back to Nigeria. It's a dicey situation. It really is.

Insightful thread bro, I know for sure I'm retiring in Gambia (the smiling coast of africa) and setting up a business there.

A lot of returnees on youtube have been settling in (Gambia and ghana) for sometime now and its been great all the same.

Nigeria is something else and I'm not even prepared mentally to face the challenges.

Petyprincess:
You that have unlimited exposure the only way is talk down on your country as usual while worshipping white people?

Do y'all understand what we call suggestion? Not necessarily I'm forcing him to do what i listed

Don't forget all these big companies started from somewhere,you can just enter Nigeria market expecting to take over!!

My fist boss i worked with started with distributor of laminating film from China,from there he started his only laminating film from China nd sells in Nigeria to whole sale nd relatailer,later he got introduced to printing world,he looked around nd got rare printing machines that are scarce here because it's damn expensive nd started printing in high rate because of scarcity,from that he started selling laminating machines,printing machines,printing inks,banners etc

This man now is just swimming in money!! He literally started from something small to something big!!

My dad's friend is also abroad returnee that started an event center around ikeja,he rents out white horses ,expensive and exotic cars,he also handles burials ceremony!

He was the person that got the contract of late awolowo's mother burial. If not for corona people would have started paying in advance for shows and ceremonies!

So please because i didn't join bandwagon of people like you to talk down on Nigeria doesn't mean I'm ignorant!

Ignore that guy. He's a scammer and troll. White people pay him to chat nonsense on here.

Cousin9999:
Ignore that guy. He's a scammer and troll. White people pay him to chat nonsense on here.

provide evidence of your silly claims. @justwise beware of this guy. Hell bent on misleading people here.

Petyprincess:
You that have unlimited exposure the only way is talk down on your country as usual while worshipping white people?

Do y'all understand what we call suggestion? Not necessarily I'm forcing him to do what i listed

Don't forget all these big companies started from somewhere,you can just enter Nigeria market expecting to take over!!

My fist boss i worked with started with distributor of laminating film from China,from there he started his only laminating film from China nd sells in Nigeria to whole sale nd relatailer,later he got introduced to printing world,he looked around nd got rare printing machines that are scarce here because it's damn expensive nd started printing in high rate because of scarcity,from that he started selling laminating machines,printing machines,printing inks,banners etc

This man now is just swimming in money!! He literally started from something small to something big!!

My dad's friend is also abroad returnee that started an event center around ikeja,he rents out white horses ,expensive and exotic cars,he also handles burials ceremony!

He was the person that got the contract of late awolowo's mother burial. If not for corona people would have started paying in advance for shows and ceremonies!

So please because i didn't join bandwagon of people like you to talk down on Nigeria doesn't mean I'm ignorant!

Sister..U are doing well jare...

When this same people want to list the bad things about Nigeria, they'll be quick to include unemployment but when someone wants to invest in the country, this same pple will give u a thousand and One reasons not to do so... After they'll na blame the govt as the cause of the country misfortunes..

Op... Pls be4 coming down to Nigeria, do well to make ur research abt ur potential consumer population... I wish you Goodluck bro