If you are having thoughts of investing in Nigeria, River State should perhaps be in your list of places to put your money in, with assured promises of good returns on investment.
The environment provides manufacturing and service opportunities just not just for the locals but the world market. The state simplifies the ease of bringing and exporting goods and services to the world market with its abundant human and natural resources.
In Rivers, the ease of doing business has been bettered over the years through infrastructural development by successive governments. The abundance in skilled manpower championed by government’s skills and acquisition training, coupled with influx of experienced service professionals from neighbouring states makes Rivers a haven for investors.
Here is Theportcitynews review of possible investments that would yield good economic gains in Rivers state.
Oil and Gas: PortHarcourt does not just pride itself as he Oil and Gas capital of Nigeria and perhaps the rest of Africa for nothing. The city exemplifies it by hosting a good number of Multi-nationals with world-class facilities in and outside the state capital.
Oil and Gas represent the single most important component of the Nigerian economy and contributes to about 90% of the country’s foreign exchange.
Portharcourt is at the center of the Oil and Gas industry in the country. This has made Portharcourt City a center for mass immigration of expatriates with links to some of the world’s most popular energy firms due to its rapid development in infrastructures, resource availability, and development of business value chain with the availability of low-cost skilled workforce with experiences in manufacturing and provision of efficient services that leads to high-end productivity.
The market is still not yet saturated and with the Nigeria’s only joint venture with the rest of the multi-nationals, the NLNG, planning to relocate its headquarters from Lagos to Portharcourt at the end of the year, there will be a need for influx of investments in different areas of the sector.
Hotels: Hotel volumes in Portharcourt are on the increase with investments looking to climb up to $100 million in transactions before the end of the year according to analysts.
With Africa becoming a hotel investment attraction, you shouldn’t neglect putting your money where the market has reliably paid off for ages.
With few standard hotels catering to a large pool of local and international visitors and investors smiling all the way to the bank daily, hotel owners in Portharcourt are recycling their money into hotel developments as maturation sees an increase in ownership.
Growing Chinese influence in Africa and new politically motivated investors coming to Africa would result in fresh capital looking at opportunities in the hotel sector as investors increase their exploration activities.
And with a pool of well experienced and expertly trained managers and service providers, a hotel investment in the Oil capital is sure a good business.
Food: Food business in Portharcourt has thrived in the last 4 – 6 years according reports, with fast food chains like Genesis, Jevnick and Kilimanjaro replacing most traditional restaurants with massive yields that have necessitated their rapid expansions across the city.
The first ever Bole and Garri festivals took place in Portharcourt in 2017 with more of such festivals that would showcase the city’s affinity to food expected in 2018.
Fast food outlets like Jevnick that focuses mainly on the traditional food of the people with couple of intercontinental dishes to boot has become a new attraction as people, especially the working class, relish in the glamour of services provided by these fast food outlets with its potentialities for growth.
Chain stores: Portharcourt houses a few chain stores but they are not in any way enough for the huge population that the city boasts of.
Where to get precisely what has always been a huge problem in the city, and with the few traditional markets around the city focusing mainly on foodstuffs and other edibles, chain stores investment is a goldmine for those who would dare.
Some of the chain stores around like Market Square, Spar and Everyday have been undergoing massive expansion to increase customers’ accessibility within the city with rumors of Shoprite landing anytime soon, there will be gaps still left to be filled.
Chain store investment in this city should not be an option but a necessity.
Entertainment: Despite the fact that Portharcourt has a sea of talented artists in various industries, entertainment in the city has not been given adequate attention that it desperately desires .
This, in effect, has forced most of the local talents to migrate to Lagos where there exists, a reasonable high level of development in the entertainment industry.
A clear-eyed investor can tap into this goldmine of natural talents languishing in its abundance, not just for the financial gains but for societal development.
Outdoor spots: The city boasts of two standard outdoor spots – the Polo club and the Amusement park. Well, they are all beehive of activities with an overflow of customers. A smart investor can leverage on this and create something unique.
Real estate: This is perhaps the most important and most urgent too.
Urbanization has congested the city with the past governor creating the Greater Portharcourt project to decongest the city.
Investors with flair in real estate can take advantage of this burgeoning opportunity as decent houses become less available and more expensive on yearly basis.
The greater PortHarcourt city is connected to the main Porthacourt city by road and with government’s plan to link both cities by rail in the years to come, real estate market in Porthacourt is a good sell.