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Swiss companies finding success in Nigeria

Nigeria has become Africa's leading economic power, replacing South Africa as the continent's number one. This has rekindled the interest of the global economy. Many Swiss companies are already successfully operating in Nigeria. 60-70 Swiss companies are currently active in Nigeria, investing substantially in their business in recent years and expect on average 10-15% growth per annum.

Risks

Certainly there are risks, but because of that, it means that there is also a lot of opportunity. Traditional investors are not willing to take the risk, which leaves many investment opportunities open. The investment opportunities in Nigeria far out-weighs the risks.

Keys for successful business in Nigeria

1. Make sure there is a market need
2. Have the right partner (a strong local partner)

Prospective investors need to stop relying on media sources for business decisions about Nigeria. The media sources ONLY report corruption, instability, criminality, terrorism, etc, from the media: they NEVER report the growing global investors that are increasingly doing business in Nigeria; including the 60-70 well-established Swiss companies already active in Nigeria. The media will always be the media.

Further more, the media sources NEVER report the Nigerian banking sector with its world class services both in stability, competitiveness, and reputation. You will also NEVER hear about the Nigerian government's success in combating corruption at all levels in recent years and positively turning the page.

If the statistics show that Africa has potential, then Nigeria, as the biggest economy, both in size and in numbers, is the natural gateway of choice.

There are many opportunities. Though the infrastructures are not as developed as that of Europe, Nigerians are very welcoming to foreign investors. Many Nigerians are well-educated and the level of education is steadily increasing.

Nigeria is certainly a place that has a bright future.

OMORUYI SERVICES WORKS WITH CAST OIL & GAS LIMITED

Omoruyi Services has recently struck a business relationship with the Nigerian Oil and Gas industry giant, Cast Oil & Gas Limited for the importation of Gas Oil products.

The budding strategic partnership will work through strategic and financial cooperation to serve a growing demand for the automotive gas oil (AGO) and aviation turbine kerosene (ATK). Leveraging on an established banking relationship with the United Bank for Africa, Omoruyi Services makes its financial window of opportunity available for the benefit of its strategic business relationships.

In this light, Omoruyi Services Oil and Gas portfolio remains a top priority and a blossoming segment of its pursuit.

OMORUYI SERVICES enters EPC arrangement with KENGRN Nigeria Limited

Omoruyi Services has entered an Engineering, Procurement, & Construction agreement with the Nigerian engineering company KENGRIN Nigeria Limited.

Omoruyi Services also has a standing agreement with ABB Switzerland for the implementation and support of concrete power generation projects in Nigeria. Premised on this strength, Omoruyi Services through its partner KENGRIN have made preliminary contact with the office of the Vice President of Nigeria for an ABB invite to enable them present a power generation proposal. While they await word, suffice to note that Omoruyi is seeking and reaching out to potential business partners, particularly financial institutions to invest in the profitable energy projects.

Nigeria, Others to Attract $73.5bn Foreign Investments in 2015

African Development Bank

Following plans by United States retail giant, Walmart to enter Nigeria's retail market, increasing greenfield investment from China, India and South Africa, foreign investments in Nigeria and other African countries are expected to reach $73.5 billion by the end of this year.

A report by the African Economic Outlook (AEO) revealed that official remittances have increased six-fold since 2000 and are projected to reach $64.6 billion in 2015 with Egypt and Nigeria receiving the bulk of flows.

The AEO is a product of collaborative work by three international partners: the African Development Bank (AFDB), the OECD Development Centre and the United Nations Development Programme (UNDP).