Reasons Why You Should Expand Your Business Into Nigeria

As an established organisation looking to grow operations overseas, the plethora of options for a destination country can often create confusion. Thus, your choice must be strategically guided to ensure that the best-fit country is chosen for your business context and objectives. This guide will help you understand why expanding your business operations into Nigeria is a viable option that would positively impact your bottom line.

What you will understand:

1. Key Nigeria demographic insights that translate into business advantages.
2. Market entry service providers and the impact they provide.
3. Free Trade Zones and the potential they hold for businesses in Nigeria.
And many more.

Why Expanding to Nigeria is Vital for Your Business

Nigeria has become a home to several international companies spread across the globe. Here are some reasons why investing and expanding to Nigeria is profitable for your business

1. Large Consumer Market Nigeria's vast population, mainly its young demographic, provides a large consumer market for businesses seeking to expand. Companies can establish a solid customer base in Nigeria by meeting basic needs and building brand loyalty. Moreover, Nigeria's growing curiosity and interest in technology presents an opportunity for businesses to introduce new products and services.

2. Friendly Government Policies and Taxes.

The Nigerian government has put in place friendly policies and regulations that are attractive to foreign investors. Nigeria's free-market economy and low corporate tax have reduced barriers for businesses seeking to expand, making it easier and less expensive to begin operations in Nigeria.

3. Fast-Growing Economy:

Despite the COVID-19 pandemic and recession setbacks, Nigeria's economy is diversifying and fast-growing. According to McKinsey and PWC, Nigeria is poised to be among the top 20 economies by 2030. This presents an opportunity for businesses to profit from the country as more corporations come to Nigeria.

4. Fast-Growing E-commerce and Retail

Nigeria is one of the largest and fastest-growing e-commerce markets in Africa, with a growing appetite for online shopping. According to Statista, the e-commerce market in Nigeria was valued at $13 billion in 2020 and is expected to grow to $34.3 billion by 2024. The growth of e-commerce and online shopping in Nigeria makes it an attractive market for businesses looking to expand and tap into the country's large and growing consumer base.

We encourage you to give our team a call today or text us on WhatsApp. Our staff will assist you in with all your questions. Our goal is to help you make the best decision possible.

Thinking of expanding your operations in Nigeria? the Get in touch with us now. You can give us a call on +2348083703477 or email us on info@visitnigeria.help