Ogun State government has signed a $400m Memorandum of Understanding (MoU) with a foreign firm, Arise Integrated Industrial Platform, on the development of Olokola Free Trade Zone and Remo Agro Processing Zone.
The State Governor, Dapo Abiodun, signed the MoU with the Founder and Chief Executive Officer of the firm, Gagan Gupta, Friday, at the EXCO Chamber of the Governor’s Office, Abeokuta.
Speaking shortly after the signing ceremony, Gupta, disclosed that his organisation would focus on the Olokola Free Trade Zone and the Remo Agro-Processing zone.
He explained that the $400m would be for the completion of phase one of the projects, saying by July 2023, the investment would be higher.
According to him, his organization would focus on developing the infrastructure at the Olokola Free Trade Zone as well as the Remo Cluster Area and the Agro Cargo airport in the area of agro-processing.
Gupta who also noted that the intention of the group was to ensure that work starts on the industrial zone by the first of July this year, added that the group would also focus more on the upstream sector.
The Arise Integrated Industrial Platform founder added that his company would bring equity to the floor by leaving 35 per cent open for national players and the state, saying “we would be glad to have Ogun State as a partner”.
“Our ethical moral is that we will have 65 per cent equity and leave 35 per cent open for the national players, including Ogun State. We want the state to be our partner and the state will take some equity and the national players will take some equity,” he stressed.
Gupta commended the level of information made available by the state government to his team when it came on an assessment of the zones to be invested in.
“After visiting Ogun State for two weeks, we were very pleased by the amount of information that was shared. I must confess I had no expectation that the information would be so readily available, it looked like we were dealing with the private sector and not government”, he submitted.
Responding, Governor Abiodun commended the company for choosing Ogun and noted that the project would not only create employment opportunities, but would be a training hub as the company would set up a technical training centre to train artisans for the sustenance of the project.
He said: “We are happy to find a partner that is afrocentric; that understands the sub-region and all the issues that pertain to the people and is ready to spend over $400m. We are indeed very excited that you are in Ogun State.
“I am glad you are setting up two Economic Zones, one in Olokola which will deal with mobility and automobiles and the other one, the Remo Cluster which will take care of agro- processing. We will support you and we will leave no stone unturned. Our support to you will be total. The infrastructure you will bring will lead to more investors coming to our state”.
Abiodun said his administration at the inception had identified the comparative advantage of the state and set out to bring in more investors whose investments would not only enhance the socio-economic well-being of the people, but also retain the state’s position as the industrial capital of the country.
He reiterated that “Ogun remains the safest state in the country due to the security architecture put in place, while over 400km of road had been constructed and various reforms and policies put in place to help improve the Ease of Doing Business ranking of the state”.
The governor, however, said that the signing of the MoU was the fall-out of the road shows he took part in different parts of the world, noting that “it will create over 25,000 jobs, a technical training centre and a platform that will benefit the state and the country in the form of Corporate Social Responsibility. My administration will do everything to sustain this relationship”.
Customs seizes contraband worth N27.6m in Kebbi
The Nigeria Customs Service (NCS) has seized contraband worth N27.6 million within two weeks in Kebbi State.
The Area Controller of the command, Joseph Attah, made this known while briefing newsmen in Birnin Kebbi Wednesday.
He said, “In compliance with the Federal Government’s directives aimed at ensuring food security in the country, the Command has strengthened vigilance at the borders to check any attempt to smuggle out food produce.
“To this end, the Command has intercepted an articulated vehicle fully loaded with bags of grains.
“The outbound Daf truck was intercepted by officers and men of the Command along Kamba-Bunza Road on Sunday, 15 May, and a physical examination of the truck revealed that it was carrying 800 bags of white sorghum with a Duty Paid Value of N6.2 million.
Attah also added that one trailer was intercepted by our vigilant officers conveying the same white sorghum along Kamba Road.
“But upon the driver’s failure to produce export documents, the truck was detained in our Headquarters and was later released on compassionate ground with the owner promising to return the product to their warehouse for domestic consumption.
“But upon the release of the truck, they went and trans-loaded the content into another truck which we intercepted as they tried to evade our officers’ checks. The owner’s repeated attempt to smuggle this food produce has failed with this interception,” he said.
According to him, the ongoing crisis between countries known for grain production has created uncertainty in the global market.
He noted that it is imperative to secure the locally-produced grains to avoid plunging Nigeria into a food crisis.
“In addition to putting our officers and men on high alert, we have undertaken stakeholders’ engagements across all our borders, enlightening border communities on the implication of exporting farm produce, especially grains,” he said.
Attah also revealed that the Command had, from 1 May to 15 May, seized 209 jerricans of Premium Motor Spirits (PMS), 18 jerricans of Automotive Gas Oil (AGO), and a Daf Truck used as means of conveyance.
“This is in addition to 39 bags of foreign parboiled rice, five cartons of medicament and 10 bales of second-hand clothing, among others.
“The Duty Paid Value of all the items in the period under review is N27.6 million, an amount generated as fees from the auction sales of the PMS and AGO have been remitted to the Federal Government,” he said.
The Controller expressed the Command’s readiness to facilitate trade for stakeholders who chose to transact their business through the command following the reopening of Kamba border and the reactivation of the Command’s ICT.
11 Profitable Business To Start With 100k In 2022 In Nigeria
11 profitable business to start with 100k in 2022 in Nigeria can be accessed below.
Naijaonpoint has obtained 11 profitable business to start with 100k in 2022 in Nigeria with a detailed guide on each of the businesses listed below.
This online news platform understands that the year 2022 is just starting and a lot of our Nigerian readers are thinking of a good business to start up as a main hustle or side hustle. So read on lets share some mind blowing ideas with you that will lead you to financial freedom in the year 2022.
With the current hardship in the country there are so many business to start with 100k in Nigeria and be successful, but sometimes you may find it difficult to think of such businesses thereby investing your money in the wrong business.
If you are confused about the type of business idea to start with 100,000 naira in Nigeria and be successful, then you are in the right place.
Naijaonpoint Nigeria notes that so many businesses in Nigeria started small and then grew to what the businesses are today, hence a need to compile a list of 11 profitable business to start with 100k in 2022 in Nigeria.
1. Food Stuff Business
Food is one of the basic needs of human beings, and so one cannot survive without it. This makes food stuff business one of the best business to start with 100k in Nigeria and be successful.
Foodstuffs sell very well because of their gross importance in human life. With 100,000 naira, you can start a foodstuff business at any location where people are.
Furthermore, before starting a foodstuff business, you must know the type of raw foodstuffs you want to sell, then you source for suppliers who are farmers.
You can sell them both online and offline depending on the provisions you’ve made for transportation.
Examples of foodstuff to sell are:
- Flours, etc.
2. Cooking And Delivery Business
Cooking and delivery is a best business to start with 100k in Nigeria. Everybody likes food but not everybody can cook tasty food.
Moreover, nowadays people find it difficult to cook because of their busy schedules. Some families eat processed food which is not good for their health.
If you have the cooking skill and a passion for cooking, you can easily start this business with less than 100,000 naira.
You do not even need to rent a shop for this business, you can cook in your house and deliver it to customers in their homes and offices. You can also cook and sell at a busy junction.
Basic Things You Need To Purchase when starting your cooking and delivery business are:
- A gas cooker
- Plates of different types and sizes
- Coolers/stock pots
- Spoons and forks of different sizes
It’s not necessary you buy everything at a time, buy what your money can afford, and subsequently when you start making profits buy the remaining ones.
3. Car Wash Business
In this era, the car wash business is one of the most lucrative businesses anybody can start with 100,000 naira.
Nowadays many people do not have the time to wash their cars, some are stressed after the day’s work and some cannot wash their cars well and the only option they have is to take it to the car wash.
Car wash is a business you can start anywhere there are many cars and adequate water supply.
The car washing business thrives at every season—the rainy and dry season—in Nigeria, so you won’t have any drawbacks while operating the business.
Moreover, a good location is essential for starting a car wash business. You need to choose a place that is visible to everybody.
If you cannot rent a place, you can go from house to house to wash cars for people. No doubt car wash is a great business to start with 100k in Nigeria and be successfully.
Tools You Need To Start Your Car Wash Business
- Car wash machine
- Water supply
- Storage tank
- Generator set
- Bucket, soap/detergent
- Brushes for tyres
- Towels, etc.
4. Selling Of Fairly Used Goods Or Clothes
Another business idea you can start with 100,000 naira is selling fairly used goods and clothes.
Most Nigerians buy fairly used items like gadgets, clothes, shoes, household items, etc. You can purchase these items and sell them both online and offline.
Again, with 100,000 naira, you can start selling thrift wear popularly known as okrika. Plenty of people prefer buying Okrika to brand new clothes.
Moreover, the poor economy of the country has made people buy what they can afford and not what they wish to buy.
Where To Buy Okrika Clothes In Lagos are:
- Balogun Market
- Yaba market
- Aswani market
- Oshodi market
- Katangua market
- Badagry market, etc.
5. Laundry Business
This is a business idea that is very lucrative, yet easy to start. Nowadays, people are so busy that washing clothes are not on their agenda, and this has created job opportunities for people.
A good location is important to your laundry business. It is advisable to consider locations in open places with less competition where people can see you easily.
Your location should be residential areas, estates, or high-income neighborhoods, and a place you can easily access clean water, etc.
Basic Materials For Starting A Laundry Business
- Laundry detergents/soaps
- Pressing Iron
- Ironing board
- Garment conveyor
- Nylon and tags
- Power generator
6. Palm Oil Business
If you are still not satisfied with the business ideas I’ve mentioned above then you need to consider the palm oil business.
The palm oil business is one of the most profitable businesses anyone can do in this era because of its diverse usefulness.
Almost everybody uses palm oil to cook, you can even decide to be exporting it to other countries which would generate much income.
Moreover, palm oil does not have a steady price, you can buy and store palm oil when it is cheap and sell it when it becomes expensive.
Things To Consider When Starting Your Palm Oil Business
Below are the top important things you should consider when starting your palm oil business.
Choose your palm oil business model
Get your storage space and storage tanks.
Get your rubbers
Arrange with suppliers
Decide on transport arrangement
Market and sell your palm oil.
7. Fruit Drink Production And Sales
This is another profitable business to start with 100k in Nigeria, and be successful. A growing number of people prefer freshly squeezed juice without coloring, flavors, and preservatives.
Moreover, people are becoming increasingly aware of the health implication of processed food and drinks, this has made people shun soft drinks to naturally made fruit drinks making this a great business opportunity.
To start this business, there are certain things to do and you will also need a very good location that will enhance sales. Location to sell your fruit drinks options are:
A roadside stand
You can sell it wholesale to grocery stores or restaurants. Moreover, to start this business, you need to purchase manufacturing equipment. Basic manufacturing equipment includes:
Juice extractor, etc.
8. E-payment/POS Business
POS (point of sale) business is a cash-making business that has gained serious popularity.
Some people hate queueing in banks to withdraw money, they prefer using POS that is even closer to them even though they are charged a transaction fee.
With 100,000 naira, you can become a banking agent and own an E-Payment outlet. You can get your POS from the bank.
To become an agent, you would need to go to the bank of your choice and do the necessary registration. After the registration, you would be given a POS machine.
Banks give POS for free but terms and conditions apply. Moreover, banks charge you a certain percentage for every transaction you perform. Learn how to start a POS business in Nigeria.
Banks To Get The POS Machines
Below is a list of some of the banks that gives POS machines in Nigeria.
Diamond bank, etc.
Each bank has its mode of operation, you just have to go and get details on what is required to get a POS machine.
9. Popcorn Business
Popcorn business is one of those businesses that are yet to be fully tapped. Popcorn business is self-sustaining, it can make someone wealthy over time when there is consistency and dedication.
Popcorn is a snack gotten from the popping of corn from a heated surface.
Many people love popcorn, therefore you can’t go wrong exploring this business idea.
The business is not stressful, it does not waste time, you can start with a small amount of money, grow and manage it alone at the comfort of your home.
To sell your popcorn very well, you need to target supermarkets, schools, canteen, hotels, stores, eateries, markets, etc.
It is also advisable to position your popcorn machine on a busy road, market, high commercial area, etc for more sales.
Also See: How To Finance A Small Business Idea In Nigeria
Ingredient Needed For Popcorn
The following ingredients are what you need to make Popcorn.
Items Needed For Popcorn Business
10. Mini Importation Business
Mini importation business is one of the best profitable business to start with 100k in Nigeria and be successful.
People are making money importing goods from other countries cheap and selling them expensive here in Nigeria.
You just need to do your marketing right if you want to excel in the business.
Before you venture into the mini importation business, you need someone to guide you, and also, you need to start with the products people buy most. You need to do your market survey before ordering any goods.
You can import from China or any other country depending on what you want to sell. Learn how to start a mini importation business in Nigeria.
Things You Can Import Are:
Portable USB best lamp
Wireless phone chargers, etc.
11. Agricultural Business
Presently, the agricultural business is very profitable in Nigeria as farm products are consumed daily.
Before you venture into the agricultural business, you need to have basic knowledge of the area you want to explore.
There are a lot of agricultural business ideas aspiring entrepreneurs can go into with 100,000 naira. These Agricultural business ideas are: