Hi. Do you want to establish a multi million dollar business in Nigeria and make huge profits in a very short time?
Here is a list of the best places in Nigeria with the highest business potentials as New York City in United States of America.
The one reason this list is a must read for every business person or entrepreneur interested in establishing a big company that either offers business services or manufactures products, is the fact that location plays a major role role in the success of a business.
In fact, it has been widely proven over time that a business location contributes about 20 to 30 percent of its success or failure.
So if you are a foreigner (from within or outside Africa) or just a Nigerian hoping to establish a multi million naira business in Nigeria, I encourage you not to rush through this as you may miss vital information meant to help you start and grow your business in Nigeria.
The places that made it to this list which I consider the best places to setup a big business in Nigeria were selected based on:
- Good roads
- Power supply
- Existing businesses &
- Other infrastructural development
Now let us see together these places.
Best Places To Establish A Multi Million Naira Business In Nigeria
When you visit Nigeria as a foreigner, you would almost assume Lagos state to be a totally different country of its own. Lol
Lagos is so economically advanced that even the British Prime Minister, Theresa May, in her recent visit to Nigeria referred to the state as “the economic capital” of Nigeria.
With a crazy population of over 25 million people within its horizon and good infrastructural development, Lagos is the best place to establish a big company not only in Nigeria but also in West Africa as a whole.
With that large population, one would think the crime rate in this small state would be high but this is not true. Lagos state falls among the states with the lowest rate of crime in Nigeria.
Establishing a multi million naira business in Lagos state is not just a good idea, it is a very wise choice for investors and all kinds of business persons.
There is no city in Nigeria with a climate that matches that found in most Western nations except Jos, Plateau State.
Surrounded by hills, mountains and a whole lot of natural resources, Jos is a beauty and a natural wonder. Little wonder the city is filled with White missionaries, businessmen, construction workers and tourists.
Apart from the recent herdsmen attacks that happened close to the city, the city for some number of years now has always been among the most peaceful and safest places to live in Nigeria.
With a large population of both locals and foreigners, Jos is one of the best places to establish a big company or business in Nigeria.
The economic capital of the South Eastern part of Nigeria, Onitsha, is among the best places to establish a multi million naira business in Nigeria.
A city filled with importers and exporters of almost all kinds of products in Nigeria, this city sees market men and women from different parts of the country trooping to its Main Market which is widely regarded as the biggest in the whole of West Africa.
The city is so populated that it is almost impossible to see a virgin land throughout the city.
Separated from the neighbouring city Asaba by the great River Niger, the city is known to be among the best places to situate a good business in Nigeria.
4. Port Harcourt
The Oil rich city of Port Harcourt prides itself as the most populated and developed in the Niger Delta region of Nigeria.
Home to so many Oil companies (both foreign and locally owned), PH city is among the best places to establish a big business in Nigeria.
Apart from the occasional security challenges that the city do face as a result of the activities of militants and secession agitators, the city is a perfect place to setup a multi million Naira business and make huge profits within a very short time.
Kano is currently Nigeria’s most populated state. The city of Kano is also the economic capital of Northern Nigeria.
Filled with numerous merchants from all over the country and nearby countries, Kano is worth basing a big business in.
The only challenge with Kano is the ethno-religious crises that often arise once in a while as a result of the government’s adherence to upholding Sharia Law.
This great city has been tagged “the China of West Africa” due to the production activities for which the city is known.
Home to thousands of skilful young manufacturers who can produce “almost” anything with the right direction and backup, Aba sees thousands of marketers from all over the world come to make purchases from it.
The city is also the home of music and football in the South East. The famous Nigerian football club, Enyimmba (the people’s elephant) has its roots in Aba.
Although Aba is currently faced with the challenge of bad roads and security, the population of the city is a good reason to seriously consider setting up a business in the city.
If Onitsha is the economic capital of the South Eastern part of Nigeria, Enugu is its political capital.
With an International Airport and great investments of numerous Igbo leaders and foreigners, Enugu opens up South East in ways no other city currently does.
The city is well populated and has a high number of civil servants, academicians, business people and very hardworking youths within its axis.
I personally think a multi million Naira enterprise will do perfectly well in this great where crime has been brought to the lowest minimum level due to the activities of the current government.
This is the largest city not only in Nigeria but in West Africa as a whole.
Located in Oyo State, the city’s population and economic development is the reason numerous multi million naira businesses are already existing in it.
A peaceful city with very low crime rate and good infrastructural development, Ibadan is among the best places to do business in Nigeria.
9. Benin City
This ancient city of Benin is one of the most populated cities in Nigeria.
With a good road network and a people known for their hospitality towards strangers, Benin is a good place to establish a big company in Nigeria – especially as a foreigner.
The city is already home to so many drugs manufacturing companies, bread factories and much more.
Apart from a few cult related activities which is common among youths these days, Benin City is a perfect place to establish your business.
Due to its high cost of living, Abuja is not always among most people’s top favourite places to establish a new business.
But apart from that, this city which is the capital of Nigeria is safe to situate a big company.
With a good road network and lots of government officials living within it, Abuja is among the most developed and populated cities in Nigeria.
What is even more interesting about this city is that that is where the billionaires in Nigeria live, aside from Lagos. So the money is there.
This city is popularly known as “the Japan of Africa” and “the home of billionaires”. This small city in Anambra state has produced over 20 percent of the richest businessmen in Nigeria.
Home of auto spare parts business in Africa, Nnewi is the first place you should think of when starting a business either that line or any other.
With Innoson Motors, Cletus Ibeto (Ibeto Group), Ifeanyi Ubah, Ogbuawa and lots of other top auto spare parts dealers already having their manufacturing plants within the city, Nnewi is another great place to consider to setup a multi million naira enterprise.
Known as the “cleanest city in Nigeria”, Calabar has an attractive population and infrastructure that should excite entrepreneurs and investors whether foreign or local.
The city is also well known for its quietness and low rate of crime.
Awka, the capital of Anambra State is among the best places to establish a multi million naira business and expect rapid returns.
Since the time of the past government, this highly populated city has been almost crime and crisis free.
With a good road network and a business inclined government, this great city has seen an influx of foreign owned businesses over the last few years.
The city is still very fertile though and has the potential to bring you millions of naira in profits within a very short time if you setup a big company in it.
Akwa Ibom as a state is greatly blessed to have the current city of Uyo within it.
The city has a good number of population and infrastructural development to meet the needs of modern day enterprises.
This city is popularly referred to by the youths as the home of “Oringo” in Nigeria. “Oringo” here means “enjoyment” or “pleasure” as a result of entertainment or any other thing.
With lots of business people who are into Hotels and Hospitality, Banking and Finance, and entertainment, Owerri is a great place to establish a multi million naira business in Nigeria.
Its young population, good road network and low rate of crimes are the city’s biggest attractions.
In the past, this fast rising city was greatly neglected due to its poor development level when compared to other South Eastern cities.
But that is no longer the song today as this city has suddenly grown in no small rate due to the efforts of its present government.
The city has increased both in infrastructural development and population to the extend it is now competing with other great cities in Nigeria.
Abakaliki is among the most fertile and best places to setup a business that will yield millions in a very short time.
From my research, these are currently the best places to establish a multi million dollar or naira business in Nigeria either as a foreigner or a Nigerian citizen.
Whether your company renders business services, manufactures products or any other thing, you will earn more in a very short time if you choose any of these places.
I hope you find this post useful. Please do not forget to SHARE it now with your Friends on Facebook, Twitter Followers and those on other Social Networks.
If you have any place in mind to add to this list, please feel free to do that in the comment section below.
I will respond to any question you may have as soon as I see it in the comment section as well.