You can become a millionaire in 2017! It is not a prophesy, but a statement of fact that can come to materialise if you can venture into agricultural marketing.
There is restriction of entry: The federal government recently increased import duties for several items including rice, SUVs, boats, sports cars and other vessels used for pleasure, Alcoholic spirit, beverages and tobacco, Cotton and fabrics materials. This of course means that the cost of these products would be high. This presents opportunity for smart businessmen and women can capitalise. Additionally, because of the ongoing recession in the country, Nigerians are beginning to adjust their taste buds to like locally produce agricultural goods.
The market is large: I see a big opportunity for marketing agricultural products to the large middle class population resident in urban and semi-urban areas. Rural urban migration is a known fact in Nigeria. There is a population explosion in Nigerian cities. It is said that. According to Bloomberg columnist, Professor Tyler Cowen, 85 new residents arrives Lagos every hour. This is stunning! Who feeds these people? We hear that the eggs consumed in Lagos, comes from neighbouring countries. This is a market waiting to be disrupted.
Focus on a niche area: I choose marketing and not production, carefully, because I feel a lot of folks would jump into farming this year. There was an appreciable increase in rice production last year backed in part by the Anchor Burrowing programme of the Central Bank of Nigeria. So, the commodities are there, who would move from production centres to the market. That is the value you can provide as a businessman or woman. Products are still being sold in the most primitive ways it has been sold for decades, Nigerians are becoming more discerning, and they would pay for hygienically packaged local produce.
Branding and communication is key: To stand out in a marketplace, you need a well thought marketing campaign that would distinguish your products. This is essential, as you intend to recruit and retain loyal customers to the new healthy, safe and quality Nigeria commodities.
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