10 Great reasons to do Business in Nigeria

• The largest consumer market in Africa (120 million people)

• Labor rates lower than those in the Asian Nations

• Democracy and political stability in the country

• Devaluation of the Nigerian currency and tax holidays

• Generous capital and depreciation allowances

• Little competition

• Nigerians receptive to US products and people

• Huge business opportunities in different industries

• Low cost of land and rent

• Government is vigorously fighting corruption, fraud and security related issues

• Nigeria offers better business incentives and lower labor rates than are available in the Asian nations.

IBM, TEXACO, HARRIS TELECOMMUNICATIONS, CHEVRON, HEINEKEN, COCA COLA and many more corporations are investing. British, French, German and other European companies are in Nigeria, as are many Asian companies. There are favorable investment conditions in the new democratic Nigeria (cheap labor rates, tax holiday, and generous capital and depreciation allowances) plus many other concessions given to new industries. A sizeable proportion of profit repatriations are allowed, while favorable terms for reinvestment are offered to expatriate firms.

The economic and commercial needs of Nigeria offer immense opportunities to foreigners to do a profitable business. Nigeria has greater and attractive incentives to attract foreign investors and exporters than Asian countries, where many American companies manufacture most of their goods and made billions of dollars. With the new democracy and political stability, cheap labor rates, devaluation of naira and many more incentives, Nigeria will surpass Asia countries in foreign direct investment.