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Saturday, June 10, 2017

Leveraging infrastructural lapses to create wealth

FEYISAYO POPOOLA writes on ways to leverage infrastructural lapses and gaps in the country and create wealth through them, with focus on the logistics industry
Nigeria has a lot of infrastructure deficits such as power shortage, bad roads, poor housing facilities, poor health and sanitation practices, among others.

In as much as the poor state of infrastructure and the severe effect it has on people’s lives cannot be denied, a lot of people have identified these gaps and created various innovations that have enriched their lives.

Rather than linger on the poor state of infrastructure, it is better to examine various business opportunities that can be created from the lapses and leveraged for wealth creation.

The largest deficit in infrastructure can be found in the power sector where only one in four Africans have access to electricity with about 30 African countries estimated to be experiencing regular blackouts due to power shortages.

Even though firms struggle to cope by installing their own backup generators, this costs three to four times as much as the cost of grid electricity.  The lack of affordable and reliable power is cited by investors as the number one constraint to doing business in most African countries, Nigeria inclusive. However, some companies have introduced the use of a solar panel instead of the noisy generators and have made millions of naira from it.
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