Can you help? What is the most promising business sector in Nigeria right now? In other words, if one has funds, where do you think one can deploy?
Personally, I do think that the most promising sector in Nigeria is to give loans/credits to blue chip companies or businesses with fortress balance sheets. Give them the loans and you can sleep. If they pay you 25% APR, you are better off than any struggle building a factory or running around on services will give you.
Where you cannot do that big credit, there are many companies in the capital market which are mopping funds from small players to do just that. One man in Lagos closed his factory, sold everything, and put the funds in (…). Now you know why commercial papers are flying around in Nigeria.
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That party remains but every party does end. So, be careful since the companies taking the loans have real structural issues until we have electricity, and things which can stimulate the real economy, away from the current financialization era which began in the early 1990s when financial services took over making things in Nigeria!
*I get these questions a lot and since a village boy does not offer financial advisory as that is above the pay grades of villagers, I am seeking public help to answer the questions. In your opinion, what is Nigeria’s most promising sector for those with capital?
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