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There is Business in Nigeria!

John Omokayode
(@beloved)
Admin

The business space in Nigeria is one that's portrayed as difficult

But one thing that we've always maintained here is that there is business here for those that are ready to do the work

One of the foremost proponents of African capitalism and an icon for entrepreneurship. Tony Elumelu shared some insights at a conference

"In 2013, we invested in the power sector.

At the end of that year, we paid dividends.

An investor that had a certain percentage of our shares then earned like N80 million dividend

First-year dividend in the first year of investment in the power sector is unheard of, so we do see opportunities here, we do have high returns on investments"(end of quote)

The challenges are real but they do not overwhelm the

opportunities.

There are more people complaining about the problems of starting a business in Nigeria more than the people actually trying to start a business.

 

Case Study:

Utiva is a edtech company that started in 2018

In 2020, the company made a revenue of 200 million. Most of their training was online, which meant that they sent way less than they made,

Yes, 2020- the year of the pandemic...lol

The math was simple

They had trained about 5000 people the average cost of their training

was 40,000. this makes 200 million

THERE IS BUSINESS IN NIGERIA IF WE ARE READY TO DO THE WORK.

INNOVATE!

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Topic starter Posted : 22/07/2021 6:58 am
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