Thepodiummedia

10 best cities to start a business in Nigeria in 2023

image 83

Written by

thepodiummedia

in

Share this story

Starting a business in Nigeria is favourable for several reasons, including the large and rising population of over 225 million people, which presents significant market potential. Furthermore, Nigeria has one of Africa’s fastest-growing economies, which provides several prospects for enterprises.

Nigeria’s wealth of natural resources, including oil, gas, minerals, and agriculture, provides a solid foundation for various sectors. Furthermore, the supporting Nigerian government offers programs and services to help entrepreneurs and startups, thereby improving the business environment.

However, with so many cities, choosing where to start can be challenging. As a result, we’ve developed a list of the ten greatest cities in Nigeria to start a business in 2023 based on characteristics including population size, economic activity, infrastructure, and cost of living.

Advertisement

To order your copy, send a WhatsApp message to +1 317 665 2180

Here is a list of the 10 best cities to start a business in Nigeria

Lagos

This is Nigeria’s economic and population center. It is also the country’s business and financial capital. Lagos is an ideal spot to start a business in any field. It is a hub for multiple international organizations and has a varied talent pool, making it a good site for a wide range of industries, from technology startups to manufacturing. However, Lagos may be a very competitive city, so having a well-thought-out business plan is essential.

Abuja

Nigeria’s capital is Abuja. Abuja has undergone tremendous and rapid economic expansion in recent years. Abuja is an excellent location for establishing a firm in government contracting, education, or healthcare. It is also an excellent location for establishing a firm that caters to the needs of expatriates and foreign corporations. The city’s strategic location in the heart of Nigeria makes it an excellent choice for enterprises seeking to access a large market.

Advertisements

Ibadan

Ibadan is Nigeria’s third largest city. It is a significant business and industrial center. Ibadan is a fantastic place to launch a manufacturing, agribusiness, or trading business. As Ibadan is home to multiple institutions and colleges, it is also a fantastic site to launch a business that caters to the needs of students. Lower operating costs and a dynamic culture make the city appealing for startups and small companies.

Kano

Kano is Nigeria’s second-largest city. It is a significant business and industrial center. Kano is an excellent location for starting a manufacturing, trading, or agriculture business. Kano’s big population and closeness to neighbouring countries provide for increased market access.

Rivers

Rivers State’s capital is Port Harcourt. It is an essential oil and gas hub. Port Harcourt is an excellent location for establishing a firm in the oil and gas industry and other connected industries such as engineering, building, and logistics. The availability of a deep harbour adds to its allure for trade-oriented firms.

Advertisements

Onitsha

Onitsha is the capital of Anambra State. It is a significant business and industrial center. Onitsha, known for its bustling marketplaces and commercial activities, provides trade, business, and entrepreneurship opportunities. It is an important trading and distribution hub. Entrepreneurs interested in entering Nigeria’s consumer market might consider Onitsha because of its vibrant business climate.

Advertisements

Aba

Aba, in Abia State, is Nigeria’s premier manufacturing center. Textiles, footwear, and leather items are among the city’s booming small and medium-scale industries. The talented workforce, accessibility, and industrial expertise of Aba make it a great site for both entrepreneurs and manufacturers.

Advertisements
Lennox Mall

Benin City

Benin City, Edo State’s capital, has a thriving economy and a youthful population. Because of its proximity to Port Harcourt and Lagos, the city has easy access to important marketplaces. It is an excellent site for agricultural, manufacturing, and educational businesses.

Advertisements

Warri

Warri, in Delta State, is a major Nigerian energy hub. The city provides numerous chances in the energy sector because of its proximity to oil and gas production. Warri is an excellent location for establishing a company in the oil and gas industry and other connected businesses such as engineering, construction, and logistics.

Advertisements
effex

Jos

Jos, in Plateau State, is a developing metropolis with promising economic prospects. It is known for its pleasant climate and picturesque landscape, providing agriculture, tourism, and education opportunities. As Jos is a major tourist destination, it is also a fantastic area to start a business that caters to the demands of the tourism industry.

Consider criteria such as population size, economic activity, infrastructure quality, cost of living, dominant industries, and so on when selecting a city in Nigeria to launch a business. To make an informed decision, you also need to consider your tastes.

Business Day

Advertisements

Do you have an important success story, news, or opinion article to share with with us? Get in touch with us at publisher@thepodiummedia.com or ademolaakinbola@gmail.com Whatsapp +1 317 665 2180

Join our WhatsApp Group to receive news and other valuable information alerts on WhatsApp.

Click here to join


Share this story
Advertisements
jsay-school

Comments

Leave a Reply

Your email address will not be published. Required fields are marked *

More posts

sanya-onayoade

Sanya Onayoade

Continental Editor, North America

SANYA ONAYOADE is a graduate of Mass Communication and a Master of Communication Arts degree holder from the University of Ibadan. He has attended local and international courses on Media, Branding, Public Relations and Corporate Governance in many institutions including the University of Pittsburgh; Reuters Foundation of Rhodes University, South Africa and Lagos Business School. He has worked in many newspaper houses including The Guardian and The Punch. He was the pioneer Corporate Affairs Manager of Odua Telecoms Ltd, and later Head of Business Development and Marketing of Nigerian Aviation Handling Company (NAHCO Plc).

He has led business teams to several countries in the US, Asia and Europe; and was part of an Aviation investment drive in West Africa. He has also driven media and brand consultancy for a few organizations such as the British Council, Industrial Training Fund, PKF Audit/Accounting Firm and Nigeria Stability and Reconciliation Programme. He is a Fellow of Freedom House, Washington DC, and also Fellow of Institute of Brand Management of Nigeria. Sanya is a member of Nigerian Institute of Public Relations (NIPR), Advertising Practitioners Council of Nigeria (APCON) and Project Management Institute (PMI). He is a 1998 Commonwealth Media Awards winner and the Author of A Decade Of Democracy.
Morak Babajide-Alabi

Morak Babajide-Alabi

Continental Editor, Europe

Morak Babajide-Alabi is a graduate of Mass Communication with a Master of Arts Degree in Journalism from Napier University, Edinburgh, United Kingdom. He is an experienced Social Media practitioner with a strong passion for connecting with customers of brands.

Morak works as part of a team currently building an e-commerce project for the Volkswagen Group UK. Before this, he worked on the social media accounts of SKODA, Audi, SEAT, CUPRA, Volkswagen Passenger Cars, and Volkswagen Commercial Vehicles. In this job, he brought his vast experience in journalism, marketing, and search engine optimisation to play to make sure the brands are well represented on social media. He monitored the performance of marketing campaigns and data analysis of all volumes of social media interaction for the brands.

In his private capacity, Morak is the Chief Operating Officer of Syllable Media Limited, an England-based marketing agency with head office in Leeds, West Yorkshire. The agency handles briefs such as creative writing, ghostwriting, website designs, and print and broadcast productions, with an emphasis on search engine optimisation. Syllable Media analyses, reviews, and works alongside clients to maximise returns on their businesses.

Morak is a writer, blogger, journalist, and social media “enthusiast”. He has several publications and projects to his credit with over 20 years of experience writing and editing for print and online media in Nigeria and the United Kingdom.

Morak is a dependable team player who succeeds in a high-pressure environment. He started his professional career with the flagship of Nigerian journalism – The Guardian Newspapers in 1992 where he honed his writing and editing skills before joining TELL Magazine. He has edited, reported for, and produced newspapers and magazines in Nigeria and the United Kingdom. Morak is involved in the development of information management tools for the healthcare sector in Africa. He is on the board of DeMiTAG HealthConcepts Limited, a company with branches in London, Lagos, and Abuja, to make healthcare information available at the fingertips of professionals. DeMiTAG HealthConcepts Limited achieved this by collaborating with notable informatics companies. It had partnered in the past with Avia Informatics Plc and i2i TeleSolutions Pvt.

Out of work, Morak loves walking and also volunteers on the board of a few UK Charity Organisations. He can be reached via http://www.syllablemedia.com
Ademola-Akinbola

Ademola Akinbola

Publisher/Editor-in-Chief

Brief Profile of Ademola Akinbola

Ademola AKINBOLA is an author, publisher, trainer, digital marketing strategist, and a brand development specialist with nearly three decades of experience in the areas of branding, communication, corporate reputation management, business development, organizational change management, and digital marketing.

He is the Founder and Head Steward at BrandStewards Limited, a brand and reputation management consultancy. He is also the Publisher of The Podium International Magazine, Ile-Oluji Times, and Who’s Who in Ile-Oluji.

He had a successful media practice at The Guardian, Punch and This Day.

He started his brand management career at Owena Bank as Media Relations Manager before joining Prudent Bank (now Polaris Bank) as the pioneer Head of Corporate Affairs.

The British Council appointed him as Head of Communication and Marketing to co-ordinate branding and reputation management activities at its Lagos, Abuja, Kano and Port Harcourt offices.

In 2007, he was recruited as the Head of Corporate Planning and Strategy for the Nigerian Aviation Handling company. He led on the branding, strategic planning and stakeholder management support function.

His job was later expanded and redesigned as Head of Corporate Communication and Business Development with the mandate to continue to execute the Board’s vision in the areas of Corporate Planning and Strategy, Branding and New Businesses.

In 2010, he voluntarily resigned from nacho aviance to focus on managing BrandStewards, a reputation and brand management firm he established in 2003. BrandStewards has successfully executed branding, re-branding and marketing communication projects for clients in the private and public sectors.

Ademola obtained a M.Sc. Degree in Digital Marketing & Web Analytics from Dublin Institute of Technology in 2016, and the Master of Communication Arts degree of the University of Ibadan in 1997. He had previously obtained a Higher National Diploma (with Upper Credit) in Mass Communication from Ogun State Polytechnic, Abeokuta.

He has published several articles and authored five management books.

He has benefitted from several domestic and international training programmes on Brand Management, Corporate Communications, Change Management and Organizational Strategy.
Open chat
Hello. Do you want to keep receiving our stories via WhatsApp? Send us a message!