Doing business will indeed take you places. That means as a business person you are likely to travel for business purposes. The more you can connect to your world – the bigger your business will get.
So, traveling is essential to growing your business. However, do you know where to travel? Do you know the top three business cities in Nigeria?
Yes, it’s important to do your analysis and plan your travels based on where you would get what would most benefit your business but it would not hurt to know the top business cities within the country.
Nigeria is the country with the largest population in Africa. It has a population of over 200 million people.
What does this mean?
It means that there are about 100 million business ideas from different individuals, assuming that some part of the population includes children, the aged, and the ‘just not interested in the business’.
While that is based on assumption, it isn’t far from the truth. Most individuals in Nigeria are entrepreneurs, small business owners, and solopreneurs. The Corporate Affairs Commission stated in 2019 that 3.1 million businesses were registered in the country. A figure like that can only indicate that almost an equal number of businesses did not register.
The locations of these businesses are distributed across the 36 states but are more concentrated in a few than the rest.
The top three business cities in Nigeria, including their GDPs and unique characteristics, will be discussed, below.
This is the topmost on the list, and it is so for valid reasons. It is the former capital of Nigeria and the city with the largest economy.
It has an uneven blend of the three major tribes – Igbos, Hausas, and the Yorubas (which is more dominating than the first two). With a population of over 14.8 million people,it is favorable for business as there are more needs your products or services can meet.
Lagos is known for its good roads, transportation, hospitals, electricity, and other infrastructures. All these ensure the smooth running of businesses. The major airport in the country is also in this vicinity, with over 7,500 flights monthly. That means most people who arrive in the country have to buy and transact one way or the other in Lagos.
So, it’s no surprise that the city alone produces a GDP of more than $30 billion and a per capita income of more than $4,500.
It is also important to note that security issues are less prevalent in Lagos than in other states.
Other factors that make this place the number one business hub in Nigeria are; the presence of more than 2000 manufacturing companies, 200 financial institutions, and the booming entertainment industry.
If you want to travel to this location for business, you should trust Vecta Travels with your flights, hotel bookings, airport transfer, protocols, etc.
This is the capital of Rivers state and also the 5th largest city in Nigeria. You may be wondering what makes the fifth largest city one of the top three business cities, and you are about to find out.
The estimated population of Port Harcourt is over 3.3 million, and they have a total GDP of $21.7 billion (as estimated in 2007). The reason for such a high GDP is the foreign exchange revenue from the oil industry. It’s the primary oil-refining city in the country, and it has deep water facilities that can transport different raw materials on national and international scales.
Also, Port Harcourt is a top business city in Nigeria because it has an international airport which allows for easy international travel, physical trade, and transactions. It is the national base for the Nigerian Air Force and a major industrial center booming with numerous multinational firms.
It is rich in culture, so you can find a place to unwind after your meetings and business deals. You should also know that you can fly business class to Port Harcourt when going for business trips. Vecta Travels has very affordable business class flights for you anytime.
The current Capital of Nigeria and was mainly built in the 1980s. It is often referred to as a planned city because it was built based on a master plan designed by the International Planning Associates.
It is in the middle part of the country and the home to Aso Rock (the workplace and official residence of the President of Nigeria.
United Nations once said the city of Abuja grew by an incredible rate of 139.7% within ten years (2000 – 2010) which made it the fastest growing city in the world. To date, it remains the fastest-growing city in Africa, with numerous corporate buildings, government headquarters, and high-end infrastructures.
Abuja has different tourist attractions (including artificial ones) like Aso Rock, Zuma Rock, millennium park, Abuja Arts and Crafts village, Wonderland, splash water park, etc.
Its main economic driver is the real estate industry. It also has an Airport (Nnamdi Azikiwe International Airport) with international and domestic terminals.
The population of the state is over 3.5 million, and out of them, 40 are multimillionaires (dollars), while 600 are millionaires (dollars).
Traveling to Abuja for business purposes is easier with the help of travel agencies like Vecta Travels that have access to airlines, transportation companies, hotels, and so on.
You can make all your travel arrangements in one place.