Why Nigerian businesses are moving to Ghana
NaijaRock
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Posted by Felix Okoli on September 15, 2009 at 13:03:30:
Well, it's an old news, you might say, but as the Nigerian environment seems to be making business and profitability more difficult for growing firms in Nigeria, Ghana is becoming a choice destination for some. Most top Nigerian manufacturers are now said to have a base or are entirely moving to Ghana due to it's favourability as a better centre for profitability. Although, the major market still remains Nigeria, however with the increasing costs of living, lower per capita income and housing woes, multiple taxations(especially in Lagos), Ghana is expected to be a more competitive spot in the near future given the growing economy, the brightened US-Ghana relations, the fledgin democracy an most importantly - constant power supply which has been said to be effective for a couple of years now. Where Nigeria seems to be falling, Ghana is rising. Even in oil trading, Ghana has been lucky to discover it and are using it to better the lot of their masses who though may be smaller in number and less richer than the Nigerians but definitely have a brighter future which has been confirmed by good leadership.
One of the main reasons why Nigerian businesses are more disposed to moving to Ghana is the issue of profitability. They see also a lot of potential in the West African giant, call it speculation but it's based on economic stability and a trusted leadership. In Nigeria, there's growing insecurity and shaky democracy. People are still unsure about the future of Nigeria. Anyway, we are praying that God keeps us as one.
Comments:
Well, it's an old news, you might say, but as the Nigerian environment seems to be making business and profitability more difficult for growing firms in Nigeria, Ghana is becoming a choice destination for some. Most top Nigerian manufacturers are now said to have a base or are entirely moving to Ghana due to it's favourability as a better centre for profitability. Although, the major market still remains Nigeria, however with the increasing costs of living, lower per capita income and housing woes, multiple taxations(especially in Lagos), Ghana is expected to be a more competitive spot in the near future given the growing economy, the brightened US-Ghana relations, the fledgin democracy an most importantly - constant power supply which has been said to be effective for a couple of years now. Where Nigeria seems to be falling, Ghana is rising. Even in oil trading, Ghana has been lucky to discover it and are using it to better the lot of their masses who though may be smaller in number and less richer than the Nigerians but definitely have a brighter future which has been confirmed by good leadership.
One of the main reasons why Nigerian businesses are more disposed to moving to Ghana is the issue of profitability. They see also a lot of potential in the West African giant, call it speculation but it's based on economic stability and a trusted leadership. In Nigeria, there's growing insecurity and shaky democracy. People are still unsure about the future of Nigeria. Anyway, we are praying that God keeps us as one.
Comments: