The Nigerian Market (Vol I)

Who/what is the Nigerian market? Who do I sell to? How much can I make on a daily basis?

Those are questions I ask myself.

One of Nigeria’s greatest resources is its’, people.

  • As of 2013, World Bank says there are 173.6 million people in Nigeria that is 2.55% of the world’s population (186,053,386 people according to CIA World Factbook as of 2016; 191,835,936 people according to Worldometers as of 2017)
  • There are 58,736,297 children (0 – 14 years old) 46.9% Male and 44.5% Female 
  • 34,961,107 women (15-49)
  • The country’s median age is 18.4 years old
  • Approximately 50% of Nigerians are urban dwellers
  • Major urban areas – population: Lagos 13.123 million; Kano 3.587 million; Ibadan 3.16 million; ABUJA (capital) 2.44 million; Port Harcourt 2.343 million; Benin City 1.496 million (2015)
  • 59.6% of the population can read and write
  • Life expectancy for males = 52 years; female= 53 years (2014 est.)
  • Only 3.22% of the population are above the ages of 65
  • Risk of infectious diseases are [highlight background=”red” color=”white”]very high[/highlight]
  • Nigeria has emerged as Africa’s largest economy, with 2015 GDP estimated at $1.1 trillion
  •  Over 62% of Nigeria’s 170 million people still live in [highlight background=”red” color=”white”]extreme poverty[/highlight]
  • Telephones – mobile cellular: total: 150.83 million
  • Internet users: total: 86.138 million


  • GDP (purchasing power parity): $1.089 trillion (2016 est.)
  • Agriculture – products: cocoa, peanuts, cotton, palm oil, corn, rice, sorghum, millet, cassava (manioc, tapioca), yams, rubber; cattle, sheep, goats, pigs; timber; fish
  • Industries: crude oil, coal, tin, columbite; rubber products, wood; hides and skins, textiles, cement and other construction materials, food products, footwear, chemicals, fertiliser, printing, ceramics, steel
  • Imports – commodities: machinery, chemicals, transport equipment, manufactured goods, food and live animals
  • Imports – partners: China 25.7%, US 6.4%, Netherlands 6.1%, India 4.3% (2015)
  • World Economic Forum in collaboration with Business Insider predict that Nigeria will be the 21st most powerful economy in the world by 2030 with it’s PPP at $1.794 trillion

Now you may ask yourself what are you to do with all that data? To be honest, I have no idea what you can do with that data, but I am currently on a quest to figure out how I can use this data to make a living for my self and two generations after me. The goal is to make 1 from every Nigerian daily, weekly, or bi-weekly or 50 daily, weekly, or bi-weekly from 20% of the Nigerian population.

How can I do that you may ask, well here are some of the ideas I have talked to some people about, written out on several pieces of paper and even tried to accomplish all by myself.

Creating a Lottery System 

In Canada, where there are approximately 35 million people, every week OLG’s encore guarantees at least 1 millionaire every week, this got me to think of how many people have to play for OLG to break even. At least 2.87% of the population would have to buy $1. From my small research, OLG pays winners more than $1,000,000 weekly, and more than 2.87% of the population play the lottery and spend more than $1 weekly.

Now, If I was to get a license to run a lottery in Nigeria, I will be to partner with a bank or telecommunication company and there is also the option of doing it all by myself.

If I was to partner with Heritage Bank, we will create a program enabling Nigerian to open different kinds of accounts with at least 100 and for every 100,000 new accounts; 1 person will be awarded ₦1,000,000 in a line of credit, 2 people will win 50,000 in a line of credit, 100 people will win 1000 in Cash.

If I was to partner with Globacom, a special credit recharge card will be made and once a subscriber tops up, ₦10 will be deducted as the lottery play. With it’s 34 million subscribers, approximately 10% (from my guesstimate) will opt-out for the lottery play(Gloplay) And every week, 1 Gloplayer will be guaranteed 1,000,000; 5 Gloplayers will be guaranteed 100,000 each, 10 Gloplayers will be guaranteed 50,000 and 100 Gloplayers will be guaranteed ₦1000 in Glo to Glo Credit.

If I was to go on it alone, … xxxxxxx xxxxx xxxxx. No need to tell you that right? 🙂

But yea, from the two ideas Heritage Bank & Globacom stand a chance to additional 8 figures weekly.


Trading & Investment App for anyone

Using Heritage bank again but this time around MTN, as a software developer, with the Konfirmed Creative Studio team, within 3 months, a trading & Investment App can be developed.

  • Mobile App that allows end-users trade using funds directly from their bank [Heritage Bank.]
  • Powered by MTN.

With equity and ETF screeners, in-depth research and interactive charting, Heritage Bank T.I App will help you find and validate your next investment opportunity.

Trade on the go

  • Trade Equities, ETFs and Options right from your iPad
  • View order status and modify/cancel your orders
  • Activity reflected on all platforms immediately

Stay on top of your portfolio and the markets

  • View your account balances and holdings
  • Get real-time quotes, charts, news and option chains
  • View market summaries, index charts, and market news

Find investment ideas with predefined and custom Screener

  • Equity and ETF screeners, in the palm of your hand, to narrow down the universe of investments to only those that match your specific criteria
  • Screen equities by fundamentals, performance, yield, valuation metrics and analyst ratings
  • Screen ETFs by fund categories, MERs, performance, yield and sector/geographic allocation

Identify trends and analyse price movement with interactive Charting

  • Flexible charting with fully customizable period, frequency and chart type settings
  • Compare symbols and indices

Validate your investment decisions with in-depth Research

  • Make informed decisions with ratings and in-depth equity research reports from trusted institutions including Heritage bank, Reuters, ValuEngine and Sabrient
  • Access complete research reports
  • Access to key fundamental data to help you determine if a particular stock is right for you

Fully Secure

  • Your transactions are protected using the exact same safeguards as those used on  Heritage  OnLine®. These features include Heritage Verify and Access Code.

1.75% fee charge for every transaction.

To Be Continued…


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