Post by Trade Coach on Jan 14, 2017 11:01:04 GMT 1
Nigerians enter 2017 today with high expectations, resolutions and top targets. No one contemplates repeating the mistakes and missteps of 2016, which was full of confusion and indecision.
The out-gone year was, perhaps, the most challenging period in the history of Nigerian businesses because it was characterised by policy flip-flops and poor market cohesion.
In spite of 2016 challenges, one word stands tall in 2017: Opportunity.
This year, like other years gone by, presents a number of opportunities as well as challenges. Some businesses are bound to struggle while others will thrive. Some might die while many would still be birthed. However, Nigerians are encouraged to tap into a number of opportunities that abound locally. Importation is highly discouraged this year owing to the persisting dollar crunch and the possibility that the present administration will put more policies in place to discourage dollar outflows and import.
Donald Todrin, CEO of Second Wind Consultants, a debt workout and turnaround consultant firm in the United States, said in a period of recession many people, especially business owners, are bound to panic.
“But there’s an alternative to joblessness. We should tackle and be confrontational with change, because change itself is an opportunity for development. Now you have the choice to take advantage of change or allow yourself to be buried by it,” Todrin said. In its characteristic manner, therefore, we at The Thy Online Publication has sought out the following considered profitable businesses anyone can do in year 2017:
Piggry, bee - keeping, grass-cutter, yoghurt production, snail, cashew processing, exportation of exportable agricultural commodities and Charcoal.
Yoghurt production
First on the list of what Nigerians can do this year is yoghurt production. Yoghurt production is a neglected area, but statistics show that 98 percent of Nigeria’s dairy needs, including milk, are imported into Nigeria.
According to an expert, a dairy maker, only 2 percent of the country’s dairy needs are met by local companies. Official data show that $1 million worth of milk is imported into the country every day. With dollar scarcity and roadblocks to importation in the country, yoghurt production is a sure bet.
Yoghurt is a healthy source of milk, and capacity to produce a low-sugar brand for the aged and diabetic as well as a moderately sugar type for other classes is an advantage.
Cashew processing
Next on the list is cashew processing. If you do not have a cashew farm, get one. However, you can liaise with a cashew farmer who will supply you with raw cashew nuts for onward processing. Export of cashew is now one big business, as Vietnam, world largest cashew exporter, is currently experiencing its worst drought in a century.
Cashew sells like cakes in the United States, India, Spain and many parts of Europe. Apart from helping to maintain a healthy heart and bones, cashew also helps in weight loss.
Cashew nuts are used in producing chemicals, paints, varnishes, insecticides and fungicides, electrical conductress, and several types of oil.
Cashew exporters in Nigeria made $250 million in 2015 and $300 million in 2016, according to Tola Faseru, president, National Cashew Association of Nigeria (NCAN), who disclosed this to journalists at the Annual Cashew Logistics meeting held in Lagos recently.
Piggery
Another business to watch in 2017 is piggery. Experts believe Nigerians are not tapping into the opportunity in this area because of ignorance and poor perception about pigs.
Apart from a breeding ground, which should be large enough, it is easy to start a piggery with N500,000 to N1 million. To start a piggery, you need healthy piglets, standard pens, quality feed and three to six workers, depending on the number of piglets available.
The biggest thing about pigs is that they reproduce in large numbers. Pigs can go between N15,000 and N40,000 depending on their size and weight, and one pig can easily reproduce up to 15 to 20 piglets. This is its biggest advantage. Secondly, pigs can survive in any environment. Pigs are in high demand in China, Japan, India, Mexico, Canada and many parts of Asia. In 2015, United States exported pork (pig meat) worth $4 billion; Germany $4 billion; Spain $3 billion, among others.
Adhesive production
Apart from pork, Nigeria is still waiting for someone that will produce adhesives used by leather shoe and bag manufacturers. Aba, located in Abia State, has between 50,000 and 100,000 shoe, bag and trunk makers. This does not include hundreds of thousands of shoe-makers in Lagos, Kano, Kaduna and Onitsha. Many of these shoe-makers run to China to buy adhesives because there is yet no known company that produces good adhesives to satisfy them right now.
Incidentally, research shows that adhesives can be produced from cassava (starch), which Nigeria happens to be the world’s biggest producer. Chinese adhesives are not good enough when compared with Dutch, Spanish or Italian, shoe-makers told THE THY ONLINE. Currently, these shoe-makers cannot even find dollars to import these adhesives, showing that there is a huge potential for someone producing adhesives in the country.
