Friday, 18 December 2015

Lagos will be the centre of Africa's Investment by 2040

Those that had the opportunity to invest in lagos especially in Real Estate in year 2000 but didn't are now counting their losses in 2015. Gradually, Lagos is becoming a Mega city as well as  Africa's Investment Destination. 

Lagos is Nigeria's Commercial Capital, most populated, arguably among the most secured states of

More jobs are created in lagos than any other city in Nigeria: this is the reason for the rural-urban migration.
The real source of growth are businesses: Multi-national companies, Small and Medium Enterprises(SMEs).

 Real estate, hospitality, technology, telecommunication and transportation accounted for the fastest growing and  highest return on investment.

Lagos had consistently accounted for over 95% of Nigeria's foreign direct investment(FDI) since year 2000 and accounted for 99.9% of the nation's FDI in the 2rd quarter of 2015(NBS).

According to a study by Ernst and young Africa, in its 2015 African attractiveness survey, which was launched in Lagos recently, it said  Greenfield FDI has grow at the rate of 14% in Nigeria Since 2007, while the capital value of that investment is over 18%.

 The CEO of Ernst and young Africa, Mr Ajen Sita while commenting on the finding said "what is equally positive  is the increasing diversified nature of the investment.  A most 50% rate of the FDI since 2007 has been outside the resource sector(primarily oil sector) in manufacturing, real estate, construction, renewable energy and service oriented sector" 

He said "as a result, Nigeria will continue to be a key hub for investment into Africa and it is likely to emerge as one of the most attractive market developing investment destination in the world in coming years". It is worthy to note that 99.9% of this investment is based in lagos.

The managing director Ernst and Young Nigeria and West  Africa  regional leader, Henry Egbiki stressed the importance of entrepreneurship, saying the growth of any economy is by the entrepreneurs. 

In 2040, Lagos will top the list of the most expensive cities to live in Africa.  Most of the choice places will be reserved for the super rich. Lagos can only be compared to countries like Singapore and Indonesia. Places like Ikorodu and Ekpe will be the heart of Lagos Business activities.

However, Lagos like every other cities has it own chanllenges: Infrastructural Decay in rural areas, heavy traffic, criminal haven etcera. ill step up their effort in making Lagos a mega city.

Thinking of investing in lagos? Invest wisely, especially in Real Estate, hospitality, technology and telecom and become one of the lagos Richest by 2040! Entrepreneurs especially the owners of Small and medium enterprise(SMEs) will be the most dominant.

 Oil prices and oil related products will keep declining in years. Government in her effort to diverfy the economy will focus on delibrate policies aimed at promoting SMEs.

During the recent bankers committee annual meeting, the CBN governor announced government plan to empower one million graduates with soft loan in 2016  for SME start-up and 300 billion naira agricultural financing.

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