Fidusconsult

HOPITALITY AND TOURISM BUSINESS IN NIGERIA.

In 2015/2016 when all industry was having it bad in Nigeria due to recession, Guinness Nigeria made a sale worth over 100billion naira. And that was how it was for other brewing companies too in Nigeria. Ever since then their sales has only gone higher.

This data should tell a lot to investor`s about the Nigerian social life. Nigerians are jovial people and they love merryment, enjoyment e.t.c. They love merryment at every slightest given opportunities burials, birthdays, weddings, new house, new job, naming, meetings, festivals, Holidays, e.t.c.

The concept of hospitality business has always been restricted to hoteliers and tourism in Nigeria. But we are seeing other sector in that industry fast on the rise and yielding many profit for investors examples are, Night life(Clubs,Bars e.t.c), Restaurants, Event centers E.t.c.

Hospitality and Tourism Sector contributed 4.8% to Nigeria’s GDP in 2016.
The industry also employed about 1.6% of Nigerians in the year 2016.In terms of travel contributions to the GDP, foreign spending accounted for 3% while domestic spending took the bulk of 97%. About 9,000 new hotels emerged in the previous year, with competitive price rates across the country. It was also observed that while there was increase in domestic travels, activities for corporate traveler`s declined in the country for year 2016.

Infrastructure and the current Forex regime in the country are the challenges the Hospitality/Tourism Industry faced in 2016, which in various way impacted the sector.However as the Nigerian forex sector is now considerably stable we have now noticed a considerably increase in corporate travelers into the country.And with government policies friendly to investment we dont see a decline in the numbers anytime soon.

the following are key trends that will shape the Hospitality Industry in coming years; availability of recreational facilities, 24-hour reservation/online booking service, social media ease, renovation/facility management, infrastructure and ease of travel.

The Nigeria hospitality business is a very profitable one its an industry worth Billions of dollars . It is driven by the social and cheerful life of the Nigerian society. A lot of factors has to be considered and a lot of things putted in place when setting up an hospitality business in Nigeria so has to make maximum profit.

Contact us at Fidusconsult so we can help you make sense of this industry and help make sure your investment yields maximum profit.

Email: [email protected]
Whatsapp: +2347055534573

Fidus Consult Agency is a consulting firm that gathers data and make findings for clients outside Nigeria looking to invest, visit(need help booking hotels and navigating etc.), help in shipping out or into Nigeria legal products or raw materials.

Nigeria is a country with great potentials and opportunity waiting to be tapped and harnessed by people with the required capital. A country with over 240million people and growing. its a country where establishments if created under the right foundation will thrive and yield profit.

There various sectors waiting to be explored in Nigeria from Exports, Imports, Tourism, Real estates e.t.c.
At FIDUS we will help you understand all these sectors so you can make sense of it all.

Export

Nigeria has a lot of raw materials, Agricultural produce and mineral resources that can be exported and processed into a finer product.

The Nigeria export business is worth billions of dollars.

Nigeria is the 49th largest export economy in the world and the 124th most complex economy according to the Economic Complexity Index (ECI). In 2017, Nigeria exported $46.8B and imported $34.2B, resulting in a positive trade balance of $12.7B. In 2017 the GDP of Nigeria was $375B and its GDP per capita was $5.87k.

The top exports of Nigeria are Crude Petroleum ($35.6B), Petroleum Gas ($6.47B), Refined Petroleum ($774M), Cocoa Beans ($660M) and Rough Wood ($321M).

The top export destinations of Nigeria are India ($8.25B), the United States ($6.68B), Spain ($4.54B), France ($2.81B) and the Netherlands ($2.3B).

COCOA BEANS

Cocoa production is important to the economy of Nigeria. an industry that generated over $660m last year on export alone.

Cocoa is the leading agricultural export of the country and Nigeria is currently the world's fourth largest producer of Cocoa, after Ivory Coast, Indonesia and Ghana, and the third largest exporter, after Ivory Coast and Ghana.

The crop was a major foreign exchange earner for Nigeria in the 1950s and 1960s and in 1970 the country was the second largest producer in the world but following investments in the oil sector in the 1970s and 1980s, Nigeria's share of world output declined.
In 2010, Cocoa production accounted for only 0.3% of agricultural GDP. Average cocoa beans production in Nigeria between 2000 and 2010 was 389,272 tonnes per year rising from 170,000 tonnes produced in 1999.

History

The earliest cocoa farms in Nigeria were in Bonny and Calabar in the 1870s but the area proved not suitable for cultivation. In 1880, a cocoa farm was established in Lagos and later, a few more farms were established in Agege and Ota.
From the farms in Agege and Ota information disseminated to the Yoruba hinterland about cocoa farming, thereafter, planting of the tree expanded in Western Nigeria. Farmers in Ibadan and Egba land began experimenting with planting cocoa in uncultivated forests in 1890 and those in Ilesha started around 1896. The planting of cocoa later spread to Okeigbo and Ondo Town both in Ondo State, Ife and Gbongan in Osun State and also in Ekiti land.[5] Before 1950, there were two main varieties of cocoa planted in Nigeria. The major one was Amelonado cacao which was imported from the upper Amazon river Basin in Brazil.
The second was a heterogeneous strain from Trinidad. The Amelonado pods are green but turning yellow when ripe but the Trinidad variety is red.

CULTIVATION AND TRADE

Cocoa flourishes in areas that are not more than 20 degrees north or south of the equator. The trees respond well in regions with high temperature and distributed rainfall.
In Nigeria, the cocoa tree is grown from seedlings which are raised in nurseries, when the seedlings reach a height of 3 cm they are transplanted at a distance of 3 to 4 meters. The cultivation of cocoa is done by many smallscale farmers on farmlands of around 2 hectares.

Historically Nigeria's cocoa production was marketed through a monopsony by marketing boards created by the government. In the 1980s the World Bank and the International Monetary Fund advised Nigeria to liberalize the sector because the marketing boards were ineffective. In 1986, Nigeria dissolved the marketing boards and liberalized cocoa marketing and trade. However,...

If you are looking to export Cocoa out of Nigeria for processing or you looking to Invest in the Nigeria Cocoa beans Industry. You can contact us at FIDUSCONSULT to help you understand and to advice you on how to go about it(Government policies e.t.c).

contact us now on

Email - [email protected]
Whatsapp - +2347055534573.

Fidus Consult Agency is a consulting firm that gathers data and make findings for clients outside Nigeria looking to invest, visit(need help booking hotels and navigating etc.), help in shipping out or into Nigeria legal products or raw materials.

Nigeria is a country with great potentials and opportunity waiting to be tapped and harnessed by people with the required capital. A country with over 240million people and growing. its a country where establishments if created under the right foundation will thrive and yield profit.

There various sectors waiting to be explored in Nigeria from Exports, Imports, Tourism, Real estates e.t.c.
At FIDUS we will help you understand all these sectors so you can make sense of it all.

Export

Nigeria has a lot of raw materials, Agricultural produce and mineral resources that can be exported and processed into a finer product.

The Nigeria export business is worth billions of dollars.

Nigeria is the 49th largest export economy in the world and the 124th most complex economy according to the Economic Complexity Index (ECI). In 2017, Nigeria exported $46.8B and imported $34.2B, resulting in a positive trade balance of $12.7B. In 2017 the GDP of Nigeria was $375B and its GDP per capita was $5.87k.

The top exports of Nigeria are Crude Petroleum ($35.6B), Petroleum Gas ($6.47B), Refined Petroleum ($774M), Cocoa Beans ($660M) and Rough Wood ($321M).

The top export destinations of Nigeria are India ($8.25B), the United States ($6.68B), Spain ($4.54B), France ($2.81B) and the Netherlands ($2.3B).

COCOA BEANS

Cocoa production is important to the economy of Nigeria. an industry that generated over $660m last year on export alone.

Cocoa is the leading agricultural export of the country and Nigeria is currently the world's fourth largest producer of Cocoa, after Ivory Coast, Indonesia and Ghana, and the third largest exporter, after Ivory Coast and Ghana.

The crop was a major foreign exchange earner for Nigeria in the 1950s and 1960s and in 1970 the country was the second largest producer in the world but following investments in the oil sector in the 1970s and 1980s, Nigeria's share of world output declined.
In 2010, Cocoa production accounted for only 0.3% of agricultural GDP. Average cocoa beans production in Nigeria between 2000 and 2010 was 389,272 tonnes per year rising from 170,000 tonnes produced in 1999.

History

The earliest cocoa farms in Nigeria were in Bonny and Calabar in the 1870s but the area proved not suitable for cultivation. In 1880, a cocoa farm was established in Lagos and later, a few more farms were established in Agege and Ota.
From the farms in Agege and Ota information disseminated to the Yoruba hinterland about cocoa farming, thereafter, planting of the tree expanded in Western Nigeria. Farmers in Ibadan and Egba land began experimenting with planting cocoa in uncultivated forests in 1890 and those in Ilesha started around 1896. The planting of cocoa later spread to Okeigbo and Ondo Town both in Ondo State, Ife and Gbongan in Osun State and also in Ekiti land.[5] Before 1950, there were two main varieties of cocoa planted in Nigeria. The major one was Amelonado cacao which was imported from the upper Amazon river Basin in Brazil.
The second was a heterogeneous strain from Trinidad. The Amelonado pods are green but turning yellow when ripe but the Trinidad variety is red.

CULTIVATION AND TRADE

Cocoa flourishes in areas that are not more than 20 degrees north or south of the equator. The trees respond well in regions with high temperature and distributed rainfall.
In Nigeria, the cocoa tree is grown from seedlings which are raised in nurseries, when the seedlings reach a height of 3 cm they are transplanted at a distance of 3 to 4 meters. The cultivation of cocoa is done by many smallscale farmers on farmlands of around 2 hectares.

Historically Nigeria's cocoa production was marketed through a monopsony by marketing boards created by the government. In the 1980s the World Bank and the International Monetary Fund advised Nigeria to liberalize the sector because the marketing boards were ineffective. In 1986, Nigeria dissolved the marketing boards and liberalized cocoa marketing and trade. However,...

If you are looking to export Cocoa out of Nigeria for processing or you looking to Invest in the Nigeria Cocoa beans Industry. You can contact our us at FIDUS to help you understand and advice you how to go about it(Government policies e.t.c).

contact us now on

Email - [email protected]
Whatsapp - +2347055534573.

Fidus Consult Agency is a consulting firm that gathers data and make findings for clients outside Nigeria looking to invest, visit(need help booking hotels and navigating etc.), help in shipping out or into Nigeria legal products or raw materials.

Nigeria is a country with great potentials and opportunity waiting to be tapped and harnessed by people with the required capital. A country with over 240million people and growing. its a country where establishments if created under the right foundation will thrive and yield profit.

There various sectors waiting to be explored in Nigeria from Exports, Imports, Tourism, Real estates e.t.c.
At FIDUS we will help you understand all these sectors so you can make sense of it all.

Export

Nigeria has a lot of raw materials, Agricultural produce and mineral resources that can be exported and processed into a finer product.

The Nigeria export business is worth billions of dollars.

Nigeria is the 49th largest export economy in the world and the 124th most complex economy according to the Economic Complexity Index (ECI). In 2017, Nigeria exported $46.8B and imported $34.2B, resulting in a positive trade balance of $12.7B. In 2017 the GDP of Nigeria was $375B and its GDP per capita was $5.87k.

The top exports of Nigeria are Crude Petroleum ($35.6B), Petroleum Gas ($6.47B), Refined Petroleum ($774M), Cocoa Beans ($660M) and Rough Wood ($321M).

The top export destinations of Nigeria are India ($8.25B), the United States ($6.68B), Spain ($4.54B), France ($2.81B) and the Netherlands ($2.3B).

Contact us now.
[email protected]