Business Economy

4 Reasons Nigeria Is Great for Business

Nigeria is a unique country. There is no other country quite like Nigeria. Here are 5 reasons why Nigeria is good for business.

  1. Nigeria has the largest concentration of people in Africa. I mean, just look at the sheer economics of it. 180 million people in one country. If you sold one thing for 180 million Nigerians at $1, you’d be a millionaire. By 2050, it estimated Nigeria would have risen to 300 million. Why not dig your economic well before you get thirsty?
  2. Nigerians like spending big. Nigerians are natural big spenders. Forget that the oil price crash has dampened things a bit. (Ask Harrods Hypermarket.) But if the economy bounces back, you’ll see the spending power of Nigerians at its best.
  3. Lots of untapped mineral resources lie under Nigeria’s ground. If you can get a license to mine it, you’ll have cornered your own pot of gold.
  4. Resourceful people. Nigerians are very resourceful. In the United States for instance, Nigerians are known as the most successful immigrants. All Nigerians really need is the right atmosphere to succeed. Perhaps your company can help. Can you profitably bring in some good organizational culture that would drive productivity and innovation in its own small way?

3 Steps To Guide Your Business Decisions In Nigeria

Nigeria in 2020 is a place where you cannot afford to be careless with the little capital you’ve managed to gather. If you are not extremely careful, you can lose that cash very easily.

  1. Find out what people want: Do your market survey. Capital isn’t easy to get in Nigeria. So, you cannot afford to start your business on a whim. You must make sure the goods/service you are providing are exactly what people want, not what you think they want.
  2. Be your own utility service: This simply means that in the present day (2020), you cannot depend on the licensed utilities for electricity and other essential services. If you supply frozen foods for instance, you must have a standby generating set and enough fuel to power it. Don’t depend on NEPA. You must factor in the cost of electricity maintenance into your budget.
  3. Find a good location: Before you buy land for your office premises, make sure it is not in a swampy ground. Also, if you can avoid it, don’t rent office space during the dry season. This is because many properties may be located in swampy areas that become very impassible by vehicles during the rainy season.
Business Igbo Content

What A Driver Told A Yoruba About Igbos In Towns

A Yoruba man, Paul Ademujimi has narrated what a driver told him about Igbos once when he was on a trip to Igboland.

This is not the first time I am hearing this statement. But I want to ask; Igbos, is this trues. Eziokwu ka o bu asi?

Business Technology

Facebook Now Lets People Open Shops On WhatsApp, Messenger, etc

Facebook has come up with what I can describe as a lockdown-proof economic helper. Online shopping on business pages on all its popular platforms.

Facebook CEO Mark Zuckerberg, says the reason is to allow businesses that are locked down still make sales and take orders from their Facebook, Instagram, livesstream,Whatsapp, Messenger business pages – lockdown or no lockdown. Customers can pay on checkout with their debit or credit cards on Facebook and Instagram. Soon they will be able to take payment even directly on WhatsApp and Messenger.

Speaking during a livestream, Zuckerberg said:

‘If you can’t physically open your store or restaurant, you can still take orders online and ship them to people.’

Quoting Zuckerberg, Fortune reported that:

Customers will be able to communicate with the retailer through WhatsApp, Instagram Direct, or Messenger. In the future, Facebook said, customers would be able to make purchases directly through these messaging services too.

Facebook Shops will allow any business to set up a unified Facebook and Instagram virtual storefront, put its catalog online, and take orders through either a link to its own website or, for companies in the U.S. that use Facebook’s “checkout” feature, directly on Facebook’s platform.

Done well, this feature will certainly help ecommerce businesses. It is also a strategic move for Facebook as it would be entering a field that has been dominated by Amazon.

Business Technology Uncategorized

Ensuring That Your Digital Marketing Strategy Hits All Its Targets

As you create an online presence for your business, one of the first things you must do is to find out the target publics as made clear by the dynamic digital marketing environment.

The the next step is to ensure that the available digital marketing channels are able to reach their targets effectively.

The organization should tailor its tactics to reach different demographics like those based on gender, age, geography, and income.

That way, no vital demographic is left out of the equation. It is important to remember that the online world is constantly evolving and expanding. New channels are constantly being created with different dynamics forming a ripple effect.

The organization therefore has to remain flexible and open to new ideas, and alert to new opportunities.

The organization’s digital marketing strategy must be continuously monitored and evaluated to ensure its relevance to the target audience.

Audiences might change preferences at the twinkle of an eye. So it will be important to try to discern what is becoming an established preference and what is just passing fancy.