Bayo Rotimi - Entrepreneurship: Balancing The Risk & Opportunities Of Playing In Nigerian SME Space

The banking sector is already saturated, but opportunities exist within the sector, especially in Fintechs. • Nigeria remained underserved in payment, lending, insurance and other financial service Tech focused areas. • Business with strong digital offerings and strategic business diversifications are positioned to thrive • The anticipated macroeconomic recovery will improve consumer spending, allow Consumer goods companies to increase production volumes and lines. • Global commodity prices will decline in 2023, thus input cost will be lower. This is expected to be a positive implication for margins. Source: GMB Research • Nigeriagenerates62,000,000tonsofwasteannuallyoutofwhichonly20%-30%arecollectedandthisisduetothedifficultyofeffectivelycollectingwastefromhouseholds,hospitalsandevencommercialcentres • Recyclingbusinesssuchasbatteryrecycling,plasticRecycling,paperrecycling,aluminiumandCanrecycling,wastesharingmobileappcanthriveinNigeriaifpropermethodsarebeenputintowastecollectionprocedures RECYCLING • AFDB special agro-industrial processing zones will reduce transaction costs and drive productivity for investors and enterprise. • Nigeria is one of the largest producers of various high-demand cash crops, however it has imported food and agricultural products worth $537 million from the US alone over the past 5 years. • There are various opportunities to produce value-add agricultural products like intermediate food products (vegetable oils and animal fats), consumer-oriented products (processed vegetables, wine, dairy products etc), and fish products, biopharma and cosmetics plants