5 LIES THE WORLD IS TELLING YOU ABOUT INVESTING IN NIGERIA
Feb 20, 2023
There are several misconceptions or lies or myths that people often hear about investing in Nigeria, including:
1. Nigeria is not safe for investment: While Nigeria has had some security challenges in the past, the country has made significant progress in recent years. However, it is always important to conduct due diligence and assess the security situation before investing.
2. Corruption is rampant in Nigeria: Nigeria has made efforts to fight corruption, and there have been notable improvements in recent years. However, there is still work to be done, and investors should be cautious in their dealings and follow proper procedures.
3. Nigeria is not business-friendly: Nigeria has taken steps to improve its business environment, including the ease of doing business. However, there are still bureaucratic hurdles and regulatory challenges that investors should be aware of.
4. Nigerian markets are too small to make a significant impact: Nigeria is the most populous country in Africa, and its economy is one of the largest on the continent. There are many opportunities for investors, particularly in sectors such as agriculture, manufacturing, and technology.
5. Nigerian infrastructure is not developed enough: While Nigeria's infrastructure has room for improvement, the government has made significant investments in recent years. Additionally, there are many private sector opportunities for investors in infrastructure projects, particularly in transportation and energy.
Overall, investing in Nigeria can be a viable and profitable option, but investors should conduct thorough research, seek legal and financial advice, and be cautious in their dealings to navigate the challenges that come with investing in any country.
