agricultural diversification.

agricultural diversification.

The Nigerian government is interested in diversifying the Nigerian economy from a mono-economy to a multi-economy. This will enable the country to stop being dependent on revenue gotten from the oil and gas industry. Unfortunately, before oil was discovered in the Niger Delta in 1958, Nigeria was an agricultural super power. We exported the largest amounts of cocoa in the south western part of the country, palm oil in the south eastern parts and groundnuts and cotton in the northern parts of Nigeria. We were the largest exporters of these listed commodities before the civil war, in Africa, but soon after the civil war ended, misguided leadership from successive military regimes and democratically elected administrations, have led us astray and depended on oil. These misguided leadership, have even assisted corrupt politicians, businessmen, civilians and the military, to steal everything we have and now they desire that we venture into other industries, especially agriculture they left to die.

a modern farm

a modern farm

These people do not know what industrial diversification means. Industrial diversification is a strategy that involves choosing to structure an industry in a manner that promotes involvement in a wide range of revenue producing activities. The goal of any type of industrial diversification is increase the chances of returns by diversifying or spreading assets over a wider range of activities, while also helping to minimize the potential for failure or loss.

As it relates to production operations, industrial diversification has to do with providing goods and services that appeal to multiple markets rather than focusing on a product line that appeals to mainly one market. For example, a company may operate plant facilities that produce clothing items at one location, while also manufacturing bedding and other types of household textiles at another. At times, the diversification may involve completely unrelated products, such as a company that produces a line of office supplies but also has a division focused on the production of televisions and other electrical entertainment devices. The degree of industrial diversification will often be influenced by what owners believe will provide the best possible protection from declines in one market by enjoying corresponding increases in demand in another market.

What this means is that in agriculture, we can diversify the industry, which would increase the returns after we must have spread assets over a wider range of activities. Take for example, palm oil is a major agricultural commodity in the south eastern part of Nigeria, cassava is also a major crop grown in this region. With diversification, agricultural practitioners can introduce new crops like tomatoes, potatoes, groundnuts, beans and the rest of them to the south east and which would improve the economic returns from different value-added crops and marketing opportunities. With the threat of marauding Fulani-herdsmen from the north, who are trying to seize lands down south for cattle grazing, if we truly support agricultural diversification, we can then introduce dairy cattle and other livestock farming in the southern parts of Nigeria. The economic benefits to these idea is huge, but I do not think we have the political will to make this happen. Look at the grazing bill tearing the nation apart, were government want to take lands from all states of the federation and hand it over to Hausa-Fulani herdsmen, the same people who have been killing innocent Nigerians. The same people who have been labeled the fourth most violent terrorist group in the world by Amnesty International.

Industrial diversification can also occur in other industries like, power, transportation, tourism, health, sports, communication, information technology etc. We need our economists, especially the CBN to look more into this.

Agricultural diversification is a success in India. I rest my case.

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rap to riches

Hip hop “emcees” or musicians we call rappers, have closed in on the ten figure fortunes. These guys made it from the streets, living tough street lives and today they have become multi billionaires. The top five rappers, who made it from rap (and rags) to riches, are Sean “Diddy” Combs, Dr. Dre, Jay Z, Birdman and 50 Cent. Here’s how they made it.

rap to riches 2





Singer, songwriter and producer Sean John Combs was born on November 4, 1969, in Harlem, New York. He was raised by his mother, a model, after his father was murdered in 1974; Sean Combs grew up in Mt. Vernon, New York, and attended a Catholic boys school in the Bronx. He earned the nickname “Puffy” in high school because of his habit of puffing out his chest to make his body seem bigger. Combs would later take on other monikers, including “Puff Daddy,” “P. Diddy” and “Diddy.”


Diddy majored in business administration at Howard University, producing weekly dance parties and running an airport shuttle service while attending classes. He dropped out to pursue an internship at Uptown Records, which led to a talent director position. Diddy rapidly rose to the level of vice president and had success producing several key artists for Uptown, but left the company in the early 1990s.


diddy product 2


In 1993, Diddy started his own production company, Bad Boy Entertainment, working with such upcoming and established rap, hip-hop, and R&B recording artists as Mariah Carey, New Edition, Method Man, Babyface, TLC, Boyz II Men, Lil’ Kim, SWV, Aretha Franklin, Mary J. Blige, Faith Evans and Biggie Smalls. By 1997, Bad Boy Entertainment had sold nearly $100 million in recordings, and made a multimillion-dollar deal with Arista Records for management of the label.


After his friend, Biggie Smalls, was murdered in 1997, Diddy recorded the tribute “I’ll be Missing You,” which topped the Billboard singles chart for eleven weeks and launched Combs’s first album, No Way Out (1997), to platinum status. Nielsen SoundScan named No Way Out as the third best-selling LP of 1997, with more than 3.4 million copies sold in the United States.


Diddy released his second album, Forever, in 1999. That same year, his recently launched clothing line, Sean John, debuted in America.

diddy product


Forbes Magazine estimates that for the year ending May 2012, Combs earned $45 million, ranking him fifteenth among musicians. In 2014 his estimated net worth was 700 million.


In 1998, Combs started a clothing line, Sean John. It was nominated for the Council of Fashion Designers of America (CFDA) award for Menswear Designer of the Year in 2000, and won in 2004. The clothing line became the subject of controversy in 2003, when the National Labor Committee revealed that factories producing the clothing in Honduras were violating Honduran labor laws. Among the accusations were that workers were subjected to body searches and involuntary pregnancy tests. Bathrooms were locked and access tightly controlled. Employees were forced to work overtime and were paid very low wages.


Combs responded with an extensive investigation. He ensured that improvements were implemented at the factory, including adding air conditioning and water purification systems, firing the most abusive supervisors, and allowing the formation of a labor union. In late 2006, the department store Macy’s removed Sean John jackets from their shelves when they discovered that the clothing was made using dog fur (from a species called raccoon dog). Combs had not known the jackets were made with dog fur, but as soon as he was alerted, he had production stopped.


In November 2008, Combs added a men’s perfume called “I Am King” to the Sean John brand. The fragrance, dedicated to Barack ObamaMuhammad Ali, and Martin Luther King, featured model Bar Refaeli in its advertisements.


In addition to his clothing line, Combs owned two restaurants called Justin’s, named after his son. The original New York location closed in September 2007; the Atlanta location closed in June 2012. He is the designer of the Dallas Mavericks alternate jersey.  In October 2007 Combs agreed to help develop the Ciroc vodka brand for a 50 percent share of the profits.  He acquired the Enyce clothing line from Liz Claiborne for $20 million on October 21, 2008.he also has a major equity stake in Revolt TV, a television network that also has a film production branch. It began broadcasting in 2014.


  1. DRE.

dr dre


Born Andre Romelle Young, Dr. Dre came from a musical background. Both of his parents were singers. His mother, Verna, quit her group the Four Aces shortly before Dre was born. His middle name comes from one of the bands his father Theodore belonged to, the Romells.


After his parents split up, Dre lived with his mother, who remarried several times. They moved around frequently, and at one point lived at the Wilmington Arms housing project in the Compton area. At Centennial High School, Dre showed a talent for drafting, but he paid little attention to his other course work. He transferred to Fremont High School and then went to the Chester Adult School. But his interests didn’t lie in schoolwork—he wanted to make music. Dre received a music mixer for Christmas in 1984 and soon turned his family’s home into his studio. For hours on end, he would work his magic, taking pieces of different songs and sounds to make his own sound.


Dre started hanging out at L.A. nightclub “Eve After Dark”, where he eventually got his chance to work the turntables. He joined the “World Class Wreckin’ Cru”, which performed in nightclubs, and developed the rap persona of Dr. Dre, the Master of Mixology. His new moniker was inspired in part by basketball star Julius “Dr. J.” Erving.


Dre teamed up with fellow rappers Eazy-E, Ice Cube, Yella, MC Ren, the Arabian Prince and the D.O.C. to form N.W.A. (Niggaz With Attitude) in 1985. With his new group, he was able to produce a more hard-hitting sound. N.W.A.’s lyrics were equally harsh and explicit, reflecting life on the streets.

dr dre products


The group’s second album Straight Outta Compton (1988) sold more than two million copies and marked the arrival of a new genre—gangsta rap. One track, “F*** tha Police,” ignited a firestorm of controversy. The song, which explored tensions between black youth and the police, was thought to incite violence. The FBI even sent a warning letter to Ruthless Records and its parent company about the song.


Breaking out on his own and on a new record label, Dre hit the top of the hip-hop charts with The Chronic on Death Row Records in 1992. The biggest single from the album was “Nuthin but a ‘G’ Thang,” which featured Snoop Dogg, then a little-known rapper. With this latest release, Dre helped introduce G-funk, which incorporated musical samples and melodies from funk with gangsta rap. Dre had always admired the work of such acts as Parliament and Funkadelic.


Dre released his second solo album, 2001, in 1999. Selling millions of copies, the recording proved to be a hit on both the hip-hop and pop charts. His fans, however, have been waiting years for his next release Detox. Some tracks from the forthcoming album had been leaked, but it has yet to make its official debut. Dre has claimed that this will be his final album.


Behind the scenes, Dr. Dre has been instrumental in launching the careers of numerous hip-hop and rap artists. He acted as a track producer for many of the artists on Ruthless Records, a venture he started up with Eazy-E. Dre also worked with singer Michel’le on her debut album. With N.W.A., Dre helped produce much of the group’s material.


With Marion “Suge” Knight, Dre co-founded the rap music empire known as Death Row Records in 1991. There he worked on the 1993 debut album of Snoop Dogg, Doggystyle, and Tupac Shakur’s 1996 work All Eyez on Me. That same year Dre left Death Row Records, escaping from the increasingly troublesome West Coast/East Coast rap feud. The conflict would eventually lead to the deaths of rappers Shakur and Biggie Smalls.


Dre established his own label, Aftermath Entertainment, in connection with Interscope Records. He signed numerous acts to Aftermath, but his two greatest successes came with Eminem and 50 Cent. At first, Dre took flak for signing white rapper Eminem, but he soon proved the critics wrong. He produced several of Eminem’s hit albums, including The Slim Shady LP(1999) and The Marshall Mathers LP (2000). With 50 Cent, Dre worked on his debut smash Get Rich or Die Tryin’ (2003), among other projects.


In 2008, Dre expanded his hip-hop brand when he founded Beats Electronics with record producer Jimmy Iovine. He debuted the company’s audio line with Beats by Dr. Dre Studio headphones, which became wildly popular, and were followed by more successful products endorsed by pop and hip-hop artists. The online music streaming service Beats Music was also launched in January 2014. The two partners have also funded The Jimmy Iovine and Andre Young Academy for Arts, Technology and the Business of Innovation.


In May 2014, Apple announced the purchase of Beats for $3 billion. The deal would increase Dre’s net worth to approximately $800 million, making him the richest rap star, according to Forbes. As part of the deal, Dr. Dre and Beats co-founder Jimmy Iovine will be joining Apple in executive roles. This acquisition is the largest in Apple’s history.


  1. JAY Z.

jay z


Rapper Jay-Z was born Shawn Corey Carter on December 4, 1969, in Brooklyn, New York. Jay Z’s mother knew he was a special child due to the fact that he didn’t give her pain during his birth. Jay-Z’s father, Adnes Reeves, left the family when Jay-Z was only 11 years old. The young rapper was raised by his mother, Gloria Carter, in Brooklyn’s drug-infested Marcy Projects.


During a rough adolescence, detailed in many of his autobiographical songs, Shawn Carter dealt drugs and flirted with gun violence. He attended Eli Whitney High School in Brooklyn, where he was a classmate of the murdered rap legend Notorious B.I.G.


Carter turned to rap at a very young age as an escape from the drugs, violence and poverty that surrounded him in the Marcy Projects. In 1989, he joined the rapper Jaz-O, an older performer who served as a kind of mentor, to record a song called “The Originators,” which won the pair an appearance on an episode of Yo! MTV Raps. It was at this point that Shawn Carter embraced the nickname Jay-Z, which was homage to Jaz-O, a play on Carter’s childhood nickname of “Jazzy,” and a reference to the J/Z subway station near his Brooklyn home.


But even though he had a stage name, Jay-Z remained relatively anonymous until he and two friends, Damon Dash and Kareem Burke, founded their own record label, Roc-A-Fella Records, in 1996. In June of that year, Jay-Z released his debut album, Reasonable Doubt. Although the record only reached No. 23 on the Billboard charts, it is now considered a classic hip-hop album, featuring songs such as “Can’t Knock the Hustle,” featuring Mary J. Blige, and “Brooklyn’s Finest,” a duet with Notorious B.I.G. Reasonable Doubt established Jay-Z as an emerging star in hip-hop.

jay z 2

Two years later, Jay-Z achieved even broader success with the 1998 album Vol. 2- Hard Knock Life. The title track, which famously sampled its chorus from the Broadway musical Annie, became Jay-Z’s most popular single to date and won him his first Grammy nomination. “Hard Knock Life” marked the beginning of a fruitful period in which Jay-Z would become the biggest name in hip-hop.


Over the span of those years, the rapper released a list of No. 1 albums and hit singles. His most popular songs from this period include “Can I Get A …”, “Big Pimpin'”, “I Just Wanna Love U”, “Izzo (H.O.V.A.)” and “03 Bonnie & Clyde”, a duet with future bride Beyoncé Knowles. Jay-Z’s most acclaimed album of this period was The Blueprint (2001), which would later land on many music critics’ lists of the best albums of the decade.

roca wear

In 2003, Jay-Z shocked the hip-hop world by releasing The Black Album and announcing that it would be his last solo record before retirement. Asked to explain his sudden exit from rap, Jay-Z said that he once derived inspiration from trying to outshine other great MCs, but had simply gotten bored due to a lack of competition.


During his hiatus from rapping, Jay-Z turned his attention to the business side of music, becoming president of Def Jam Recordings. As president of Def Jam, Jay-Z signed such popular acts as Rihanna, Ne-Yo and Young Jeezy and helped in Kanye West’s transition from producer to bestselling recording artist. But his reign at the venerable hip-hop label wasn’t all smooth sailing; Jay-Z resigned as Def Jam’s president in 2007, complaining about the company’s resistance to change from ineffectual business models.


Jay-Z’s other, ongoing business ventures include the popular urban clothing line Rocawear and Roc-A-Fella films. He also owns the 40/40 Club, an upscale sports bar with locations in New York and Atlantic City, and is a part owner of the New Jersey Nets basketball franchise.


In 2006, Jay-Z ended his retirement from making music, releasing the new album Kingdom Come. He soon released two more albums: American Gangster in 2007 and Blueprint 3 in 2010. This trio of later albums marked a significant departure from Jay-Z’s earlier sound, incorporating stronger rock and soul influences in their production and offering lyrics tackling such mature subjects as the response to Hurricane Katrina; Barack Obama’s 2008 election; and the perils of fame and fortune.

roc nation

Jay-Z says he’s trying to adapt his music to befit his own middle age. In 2008, Jay-Z signed a $150 million contract with the concert promotion company Live Nation. This super deal created a joint venture called Roc Nation, an entertainment company that handles nearly all aspects of its artists’ careers. In addition to Jay-Z himself, Roc Nation manages Willow Smith and J. Cole among others.


More recently, Jay-Z proved that he had both commercial and critical staying power. He teamed up with another famous member of rap royalty, Kanye West, for 2011’s Watch the Throne. The album proved to be a triple hit, topping the rap, R&B and pop charts that August. The song “Otis,” which samples the late R&B singer Otis Redding, got several Grammy Award nominations and the recording was also nominated for Best Rap Album.


Two years after the release of a collaboration album with West, both rappers dropped solo albums within weeks of the other’s release date. West’s album,Yeezus (2013), was critically lauded for its innovation, while his mentor Jay-Z’s album gained less than stellar reviews. The rappers 12th studio album, Magna Carta Holy Grail (2013), was seen as decent but failed to live up to the hip-hop stars larger-than-life reputation.


The bulk of his wealth’s growth comes from Roc Nation Entertainment Company, worth over $100 million after the addition of Roc Nation Sports.






Birdman, real name Byran Williams was born on February 15, 1969. He is also known by the Baby. Birdman is an American rapper, entrepreneur and record producer. He is the co-founder of Cash Money Records and one half of the duo Big Tymers.


Along with his releases with Big Tymers and for his solo career, he has recorded a collaboration album and numerous tracks with Lil Wayne. Birdman has also made his name by contributing to the making of YMCMB (Young Money Cash Money Billionaires). According to Forbes Magazine, he has an estimated net worth of $160 million in 2014.


FORBES listed him as one of the “Forbes Five” wealthiest hip-hops featured in the May 15, 2014 issue of Forbes Magazine. According to the prestigious magazine label, Birdman’s net worth comes not only from his surprising earnings in his career but also from his business engagements.


FORBES stated Birdman net worth could be worth more than $300 million if he manages his Cash Money Records alone. Birdman being so generous shares his fortune with his brother, Ronald “Slim” Williams, a co-founder of their record company.


Cash Money Records is now catering to the most celebrated artists including Nicki Minaj, Drake, and Lil Wayne. Birdman net worth of $170 million stems from his multi-platinum records as a producer and an artist. His song “Stunna” was nominated two times in the Grammy in 2000.


Birdman net worth of $170 million is massively huge, but if records will be laid out, the successful rapper-producer could be earning more than his worth. Cash Money Records earns over $100 million yearly and has sold 50 million records to date.

With Birdman net worth unbelievably big, he can buy any property he would wish to have. He owns $30 million condo in Miami and other properties. The rich rapper had lost about 20 houses during hurricane Katrina.

birdman 2


Birdman net worth of $170 million is more than enough for him to buy 100 cars every six months. He claims he changes his cars every six months and give away the old ones to those who want it. Birdman owns fleet of luxurious cars including Bugatti Veyron, Maybach Landaulet, Maybach Exelero, and Lamborghini Aventador to name a few.


  1. 50 CENT.



Curtis James Jackson III, now known by his rap name 50 Cent, was born on July 6, 1975, in the borough of Queens in New York City. He was raised in a broken home in the rough neighborhood of Jamaica. His single mother worked as a drug dealer and was murdered when Jackson was only 8 years old; after her death, he was raised by his grandparents. He had boyhood aspirations to be a boxer, but he began selling drugs when he was a teenager. He also began to rap during his high school years.



50 Cent’s first important contact with the New York hip-hop scene was an introduction to Jam Master Jay from the group Run-D.M.C. Jay was impressed by 50 Cent’s rapping ability and produced an album for him; however, it was never released. 50 Cent also made a false start with the Columbia label, recording an album that was shelved before its release.

50 cent earphone


In 2000, 50 Cent was the victim of a severe shooting incident that left him with multiple wounds and injuries. After his recovery, he began rapping again and made low-budget recordings with his friends Lloyd Banks and Tony Yayo, as a crew called G-Unit. Their efforts were noticed by the hip-hop stars Eminem and Dr. Dre, who promoted 50 Cent as a solo act and signed him jointly to their record labels.

50 cent ear phone 2


50 Cent’s debut release, Get Rich or Die Tryin’, was produced by Eminem and Dre. It was a massive success that eventually reached sales of 9 million units. Its singles, including “Wanksta” and “In Da Club,” were crossover hits on the pop charts, since 50 Cent’s gritty lyrics were backed by catchy musical hooks that appealed to audiences beyond the hip-hop scene. His personal appearance—muscled and tattooed, wearing a bulletproof vest and toting a handgun—was also a strong factor in his appeal, as was the fact that his rap lyrics were based on real-life experiences.

50 cent drink


Get Rich was followed another hit album, 2005’s The Massacre, on which 50 Cent continued to rap about drugs, crime and sex on tracks like “Candy Shop” and “Just a Lil Bit.” Later releases, including Curtis in 2007 and Before I Self-Destruct in 2009, didn’t achieve the same sales figures. However, 50 Cent’s personal history as a “gangsta,” a criminal and a survivor of drugs, violence and poverty who had lived to tell the tale, had made him an influential figure in hip-hop culture.


50 Cent has established himself in a variety of fields. In November 2003, he signed a five year deal with Reebok to distribute a “G-Unit Sneakers” line as part of his G-Unit Clothing Company. He provided the voice-over as the protagonist in the video game, 50 Cent: Bulletproof, which was released for PlayStation 2Xbox, and the PlayStation Portable. Its sequel, 50 Cent: Blood on the Sand, was released in early 2009.

50 cent condoms

He worked with Glacéau to create a Vitamin Water drink called Formula 50. In 2007, Coca-Cola purchased Glacéau for US$4.1 billion. Forbes estimated that 50 Cent, who owns a stake in the company, earned $100 million from the deal after taxes. He has teamed up with Right Guard to launch a body spray called Pure 50 RGX Body Spray and a condom line called Magic Stick Condoms, in which he planned to donate part of the proceeds to HIV awareness. 50 Cent has signed a multi-year deal with Steiner Sports to sell his memorabilia.


In 2005, 50 Cent made a cameo appearance on The Simpsons episode “Pranksta Rap“, in which he makes light of his legal troubles. The same year, he starred alongside Terrence Howard in the semi-autobiographical film Get Rich or Die Tryin’. He starred in the 2006 film, Home of the Brave, as a soldier returning home from the Iraq War, traumatized after killing an Iraqi woman. 50 Cent is working on a role as a fighter in an Angola State Prison in Spectacular Regret alongside Nicolas Cage, and starred opposite Al Pacino and Robert De Niro in 2008’s Righteous Kill, a movie regarding a police death. He also started the film production companies G-Unit Films in 2007 and Cheetah Vision in 2008. In August 2007, 50 Cent announced plans to launch a dietary supplement company in conjunction with his movie Spectacular Regret.


In August 2005, shortly before appearing in Get Rich or Die Tryin’, 50 Cent published an autobiography entitled From Pieces to Weight: Once upon a Time in Southside Queens. In it 50 Cent explores the cultural and economic forces that led him to sell cocaine and crack, details his entrepreneurship as a drug-dealer and then as a rapper, and reflects on his own ethos and on society. On January 4, 2007, 50 Cent launched his G-Unit Books imprint at the Time Warner Building. He also co-wrote


The Ski Mask Way, a novel about a small-time drug dealer who attempts to rob his employers, which is to be turned into a film. 50 Cent said he read Robert Greene‘s The 33 Strategies of War and worked with the author on a book titled The 50th Law, an urban take on The 48 Laws of Power. In May 2008, 50 Cent met billionaire Patrice Motsepe to forge a joint venture selling 50 Cent-branded platinum. In 2008, 50 Cent started a reality television show on MTV titled 50 Cent: The Money and the Power; the winning contestant, Ryan Mayberry, won a $100,000 investment from 50 Cent.



The dearth inn basic infrastructure in Nigeria, is a major business opportunity itself. We need cheap and affordable homes, good road networks, inter and intra city railway networks, functioning seaports and river way ports and airports. Constructing these facilities would cost huge sums of money, but on the good run, it would provide huge solutions to our economic problems in Nigeria.

In the real estate industry, the major problem in owning a house in Nigeria is not the provision or the availability of the house itself, but the high cost of owning or renting a house. The problem here is mere greed. Why would a house that costs N120,000.00 (one hundred and twenty thousand naira) a year, for a self-contained apartment (one room, kitchen and rest room), cost up to N220,000 (two hundred and twenty thousand naira) in it’s first year, because of an agent and agreement fee, made to paid by the person seeking the accommodation. The individual is also made to pay a registration fee of maybe N1,000 to N5,000 which is non-refundable.

An entrepreneur is in business to provide solutions to his/her customers problems before they pay you for the products and services you provide. People need cheap and affordable houses. So if you need to be a landlord, think about your tenants/clients and not your pocket. The biggest problem being faced in the real estate industry are the real estate agents. So a landlord needs to establish a real estate agency company and not just construct houses for rent. If they do, they would not just create houses/homes/business or shop complexes for rent/purchase but they would also create jobs too. This would reduce the high level of corruption in the industry. We need the government to privatize the real estate industry so that we can identify the major players in this industry as we see those in the telecommunications industry. Once again, the solution in the real estate industry is to provide cheap and affordable homes by removing the illegal agent and agreement fees. If you are a real estate agent then you need to place fees for your services and ensure that you give the individual results. If you are a landlord, place fees for other services, like utility maintenance bills.

In the transportation business, the problem that exists in this industry is that there are less transportation links for users in all sectors in the industry. We need more roads, more railway lines, more sea ports and inland water way ports and more airports in Nigeria. There are a lot of congestions in the various sectors of the transportation industry. People can spend hours in congested transport links nationwide. The federal government of Nigeria intends to build railway lines linking each neighboring state capitals in the country and this would improve the nature of transportation business in Nigeria. We also need more seaports in Nigeria to decongest the congested Apapa seaport in Lagos. We need at least two more seaports to be built in lagos, maybe in Lekki and Badagry, at least seaports in all the states bordering the Atlantic ocean. Also, all state capitals in Nigeria should have local airports too.

In a city like Lagos,







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



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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