Business and Tourism

Why You Must Come to Nigeria for Business and Tourism

by | Nov 29, 2024 | 0 comments

Business and Tourism

Why You Must Come to Nigeria for Business and Tourism

Nigeria, the largest economy in Africa, boasts a diverse economic landscape driven by oil, agriculture, services, and an emerging tech sector. The country’s Gross Domestic Product (GDP) was approximately $510 billion in 2023, making it the 26th largest economy globally and the largest in sub-Saharan Africa. The oil and gas sector contributes roughly 7-10% of GDP but accounts for over 80% of export revenue. Meanwhile, the non-oil sectors, such as agriculture (23% of GDP) and services (50% of GDP), are significant growth drivers (Business and Tourism).

The Nigerian Stock Exchange (NSE), now rebranded as the Nigerian Exchange Group (NGX), has a market capitalization of over ₦35 trillion (approximately $45 billion) as of 2024, making it one of the leading exchanges in Africa. The market features companies across various sectors, including banking, telecommunications, and manufacturing, attracting local and foreign investors.

Nigeria’s youthful population, with over 70% under the age of 30, drives consumer markets, e-commerce, and fintech innovation. Additionally, the government is working to diversify the economy, with initiatives to strengthen sectors like agriculture, technology, and manufacturing.. Whether you’re visiting for business or leisure, this article provides essential tips to make your trip to Nigeria smooth and enjoyable.


Why Nigeria is Good for Business and Tourism

  1. Business Potential

Nigeria is Africa’s largest economy, boasting a thriving business environment driven by sectors like oil and gas, agriculture, telecommunications, and fintech. Lagos, the country’s commercial hub, is home to a fast-growing tech ecosystem known as “Africa’s Silicon Valley.” The country’s youthful population provides a ready market for goods and services, while its membership in the African Continental Free Trade Area (AfCFTA) opens doors to regional trade opportunities.

Additionally, Nigeria’s diverse natural resources and strategic location make it an ideal destination for foreign direct investments (FDI). The government also offers incentives for investors in agriculture, manufacturing, and renewable energy, creating ample growth opportunities.

  • Tourism Appeal

Nigeria’s tourism sector is just as promising. From the stunning beaches of Lagos to the historical sites in Kano, the country offers a range of activities for travelers. Notable attractions include:

  • Yankari National Park: A haven for wildlife enthusiasts.
  • Olumo Rock: A cultural and historical landmark in Abeokuta.
  • Calabar Carnival: Africa’s largest street party, featuring music, costumes, and cultural displays.
  • Lekki Conservation Centre: Perfect for eco-tourism lovers with its canopy walk and serene environment.
    Nigeria’s cultural diversity is also evident in its festivals, music, and cuisine, making it a fascinating destination for international tourists.

Travel Tips for First-Time Visitors

  1. Plan Ahead and Secure Your Visa

Ensure you apply for your Nigerian visa well in advance. Visitors can obtain business, tourist, or transit visas based on the purpose of their trip. Some travelers may be eligible for a visa-on-arrival program, but it’s essential to confirm this with the Nigerian Immigration Service before your journey.

  • Stay Updated on Health Requirements

Nigeria requires proof of a yellow fever vaccination for entry. You may also consider vaccines for typhoid, hepatitis A and B, and malaria prophylaxis. Carry a personal first aid kit and only drink bottled or boiled water during your stay.

  • Choose Accommodations Wisely

Major cities like Lagos, Abuja, and Port Harcourt offer a wide range of hotels, from luxury chains to budget-friendly options. For convenience, book accommodations close to your business meetings or desired tourist attractions.

  • Understand the Local Culture

Nigeria has over 250 ethnic groups, with diverse languages and customs. While English is the official language, learning a few words in local languages like Yoruba, Igbo, or Hausa can help build rapport. Nigerians are warm and hospitable, but respect for cultural norms, such as dressing modestly and using polite greetings, is highly appreciated.

  • Prepare for Traffic and Transportation

Traffic congestion is a common issue in cities like Lagos and Abuja. Plan your movements carefully and allow extra travel time for appointments. Using ride-hailing apps like Bolt or Uber is recommended for convenience and safety. Alternatively, hire a private driver for the duration of your stay.

  • Be Mindful of Safety and Security

While Nigeria is a welcoming destination, travelers should take precautions:

  • Avoid walking alone at night or visiting isolated areas.
  • Keep valuables like passports, cash, and electronics in secure places.
  • Stay informed about the security situation in regions you plan to visit and follow local advice.
  • Register with your country’s embassy upon arrival for added security.
  • Carry Local Currency

The Nigerian Naira (NGN) is the local currency. While major hotels and businesses accept international cards, small vendors and markets operate on a cash basis. Exchange your currency at a reputable bureau de change for the best rates.

  • Indulge in Local Cuisine

Nigerian food is a must-try! From the spicy jollof rice to the flavorful suya (spiced meat skewer) and the hearty egusi soup, you’ll enjoy a variety of dishes that reflect the country’s cultural diversity. Be cautious when trying street food; opt for well-known establishments to ensure food safety.

  • Network and Build Relationships

In Nigeria, relationships and trust are key to successful business dealings. Take time to build connections with your hosts, partners, or clients. Attending social gatherings or informal meetings is a common way to establish rapport.

  1. Keep Your Documents Handy

Carry copies of your travel documents, including your visa, ID, and health certificates, in case they are needed. A portable Wi-Fi device or local SIM card will help you stay connected during your trip.


Final Thoughts

Nigeria offers a unique blend of business opportunities and cultural experiences, making it a worthwhile destination for both professionals and tourists. By planning ahead, respecting local customs, and staying informed, your visit to Nigeria will be both productive and memorable.

So pack your bags, embrace the vibrant energy of Nigeria, and enjoy all the country has to offer! Whether you’re sealing a business deal or exploring its cultural treasures, Nigeria promises an adventure like no other.

About the Author

Shadrach Swante Kambai

Flight Operations Consultant, Aviation Data Analyst, Business Developer (shadrach@cliqjets.com)

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