I want to beseech all young Nigerians and foreigners on nairaland who are aiming to set up a business of any type and size in Nigeria to carefully take into consideration this few tips I'm about giving in other to avoid regret in business and ensure real success, especially at this time of economy recession and security challenges in the country.

Let me start by saying this:

Nigeria is richer than many of the countries doing better than us in terms of standard of living, economy, development, etc. Our problems has never been a bad leadership but the inability of more than 90% of the population to turn what they have to their advantage, you will agree with me if you make a study of each area of our land. Infact, Nigeria is a land of great treasure and wealth, which is always available to any one ready to tap into it but in the right way.

The first thing I want you to avoid when setting up a business in this world's most populated black nation is Quick-Way, Express, Back-yard or whatever name they give to what is known as Bribe. Though this is particularly meant for those willing to set up a registered business, but everyone irrespective of nature of business needs to fight against it. I have a name for Bribe and Bribing "ACPA" meaning "Anti-Capital and Profit Agent". If you want to avoid regret of any form in your business in Nigeria you should learn to say NO to BRIBING. Also, by embracing the right process you are not only saving your capital from ACPA but also giving your business a solid foundation.

You can imaging someone giving out N500,000 to an agent to register and incorporate a business name, a process that will cost below N20,000.
On this forum I once read of a man I guess would be a fresher in motor dealing that spent about N1.5m to clear in to Nigeria a particularly brand of car from Cotonou and was happy that custom duty was paid on his car when the truth is the payment made was short for the model of the car. A friend once told me he spend up to N350,000 to have his table water Business registered by NAFDAC, he ended up in big debt.

If you need a good foundation that will withstand future challenges and guarantee real success in your business you must embrace the right process. No alternative.

I will like us to share useful ideas together. So if you are an investor or a business owner in Nigeria? Kindly give your us your own way of staying on top of what you do.
Thanks.