THE CONSTRUCTION INDUSTRY.
One of the greatest problems we have in Nigeria today is housing accommodation and good transport networks (railroads or railways, airports and affordable airfares and feasible sea ports and river ways).
Recently I tried looking for a new flat or lodgings, and I discovered that Nigerians are being robbed of their hard earned money by lazy lay about’s who call themselves estate agents. These people insisted that I paid them money for registration before I would see the accommodation. When I refused to do so they said that it was what every other agent did. Some of my friends even persuaded me in paying them. I now paid the agent N1, 000 and believe you me, the flat was nothing to write home about. The agent listed a yearly rent fee, agent and agreement fees and renovation fees. Believe you me, I objected to this arrangement, especially the one that concerns the renovation fees. Other agents even charged registration fees of up to N3,000. Yet the federal and state governments are not doing anything about it. They also seek the services of these fraudsters and also make money on the sidelines, especially when they sell off government owned properties. Why would individuals pay for agent and agreement fees which were meant to be at a fixed rate of 10% each but these thieves put it at a fixed rate of N30,000 to N50,000. How much is the ordinary Nigerian earning and don’t they know that these people also make expenses day in and day out?
Another area that irks me so much is the transport system in Nigeria, especially in Lagos. I live and work in the lekki axis of lagos and I assure you, it isn’t funny. Most of you reading this article would think that I am now living large but I must tell you that it is all a big lie. Lekki is just a fools paradise of some sort. The place is always heavily flooded every time it rains that you need to wade through the waters with a rain boot or you just take off your shoes to avoid it getting damaged. You also need to wake up early to avoid being stuck in traffic every working day. I remember when I was travelling from the lagos mainland to lekki and back and I nearly got abducted in a bus when I left the house by 4 am. I also got back to the house by 2 am in the morning after leaving the office by 7 pm. There was a huge gridlock on the Lagos – Ibadan expressway and the traffic hold up started from the island.
REAL ESTATE INDUSTRY.
In both cases, there are still unique business opportunities that exist for Nigerian entrepreneurs who have business interests in the construction, real-estate and transport industries.
Firstly, we need to know what these industries are all about. The construction industry is the sector of the national economy that engages in the preparation of land and construction, alteration and repair of building, structures and other real property.
The real estate industry is the production of property consisting of land and the buildings on it and offering it as goods and services within an economy.
The transport or transportation (industry) is the movement of people, animals and goods from one location to another. Modes of transport include air, rail, road, water, cable, pipeline and space. Transport is important because it enables trade between people, which is essential for the development of civilizations.
Transport infrastructure consists of the fixed installations including roads, railways, airways, waterways, canals and pipelines and terminals such as airports, railway stations, bus stations, warehouses, trucking terminals, refueling depots (including fueling docks and fuel stations) and sea ports. All these terminals can carry both humans and goods.
So how can you venture into these industries? The real estate and transport industries all connect to the construction industry because massive construction occurs in these industries. But it is important you learn how to start small. In my next article I will reveal to you where the business opportunities exist in these industries.
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