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Registering a company in Nigeria

If you are planning to enter the field of international business in the African continent, you may have thought about registering a company in the African continent. Anyone can start with small or large capital. These profitable business ideas are very profitable. You have the ability to succeed in registering a company in Nigeria with good management and the benefits of registering a company in this country, which are discussed in the following topics. If you are smart, you can start your own business. In no time, if you know what you are doing, you will be earning and even hiring others.

The reasons for registering a company in Nigeria

  1. There are many profitable jobs in Nigeria and Nigeria does not have a creative force.
  2. It has abundant gas and oil resources
  3. Agricultural business makes Nigerian business a very important and strategic business.
  4. One thing that makes this business so attractive is that there are many loans or financing options available to agribusiness entrepreneurs in Nigeria.
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Registering a company in Nigeria

Company registration is one of the branches of investment visa that can be formed in different types and each has its own characteristics. The first option is to register the company as a limited liability company, which is considered the best method of registration and is generally less troublesome; In this method, the company is established with the partnership of two or more people, and the purpose of its registration is also business affairs. It is very important that each of the partners has a commitment to the amount of their capital in the company. This issue is done without evaluating the shares and has certain approaches.

According to the provisions of the law in Nigeria, it is important for any company incorporated with the intention of doing business in Nigeria to be registered with the Companies Affairs Commission (CAC) which is the primary regulatory body for companies in Nigeria. Register and start business in Nigeria without immigrating. A company is a legal entity with a separate legal personality formed by an individual or a group of individuals for the purpose of carrying on a business for profit. According to the provisions of law in Nigeria, it is mandatory for all companies to register with the Companies Affairs Commission (CAC) in accordance with the Companies and Allied Affairs Act (CAMA) 2020. It is worth noting that under the provisions of CAMA 2020, a single person can now register and fully own a company in Nigeria. Below are the steps for company registration in Nigeria.

Types of company registration in Nigeria

Private limited company (LTD)

Public Limited Company (PLC)

Limited companies with guarantee

Unlimited companies

Company registration in Nigeria by Iran and African Continent Traders Club

The steps to register a company are as follows

  1. The first step to register a company is to reserve its name. The applicant is expected to suggest two names for the company whose availability will be checked and if available and registered, booked accordingly.
  2. The second step is that the esteemed applicant must prepare and complete a series of forms for company registration ((company details, company goals) activities that the company intends to do)
  3. Filling the online forms before the merger.
  4. The applicant for company registration must provide the following specifications and information: It must be fully explained about the business, the company and about the managers and their complete specifications and required documents, shareholders and details of the shares and how the shares will be divided.
  5. Details of company secretary (but this is optional for a private company).
  6. Share capital and percentage of shares that each shareholder must hold (It is important to consider whether there is a mandatory share capital threshold applicable to the proposed company.)
  7. Preparation of documents, the applicant is expected to submit the company’s memorandum and articles of association for registration.
  8. Payments and shipping, the applicant is required to pay the stamp duty and company registration fee. After paying these fees, the applicant must submit his application and wait for registration.

Advantages of starting a business in Nigeria

  1. Starting a business in Nigeria has many advantages. First, you put your destiny in your own hands. No boss can come tomorrow and tell you “you’re fired!” There is job security.
  2. Another reason is the opportunity to grow and build a brand for yourself. When you run your own business, you are building a brand. The more you grow, the bigger your brand will be. Take a look at Dangote, even after he is gone, his brand will remain.
  3. Starting your own business gives you a greater opportunity to become rich. There is a lot of competition in the workplace. You will find many who have worked for years without promotion, but no one can deny you in your business.
  4. You have the opportunity to impact the economy by creating jobs and providing livelihoods for other Nigerians. The joy of employing people and giving them the means to survive should be a great incentive for all good-hearted people to invest in business.
  5. There are many profitable jobs in Nigeria for Nigerians. But for some reason, Nigerians leave the country for greener pastures without trying to apply their ideas at home. As a result, foreigners see opportunities that they fail to see and seize them!

Economics and the most profitable business ideas in Nigeria Here are the top paying jobs in Nigeria:

The simple truth is that Nigeria and to a large extent the world remains dependent on oil and gas. As long as this trend continues, this business will continue to dominate. Oil and gas is definitely the king among the most profitable businesses in Nigeria. There is a high dependence on oil and gas which Nigeria is abundantly blessed with it and anyone who enters this business will earn huge income. Apart from oil and gas business being one of the most lucrative businesses in Nigeria, agribusiness is an evergreen business, it never gets old or fades away. As long as humanity exists, agribusiness will continue to strive. Continuing from the food business, this is a business that can make you rich if you manage it well. It is also very easy to get loyal customers, as long as your food is delicious, people will always come back. If you can find a great location, and acquire the right skills and personnel, you can run a successful food business since it’s a seasonless business that people demand every day.

Real estate business is deservedly among the most profitable business in Nigeria and anywhere in the world. There is no doubt about it, people always need a roof over their heads. Furniture business is very profitable in Nigeria. The market is big and the demand is high, people sit and sleep on it and will always use and need furniture in kitchen, living room, companies etc. We are surrounded by the furniture and it is a necessary item. Hotel business is also very profitable and cannot be ignored among the most top paying businesses in Nigeria. Nigeria’s population is huge and people move from one place to another for leisure or business. The hotel provides shelter for them. Also, people who enter the country patronize hotels. Shipping makes this list of the most paying jobs in Nigeria and deservedly so. This is one job you can’t do without since people are always on the move. You can buy tankers and enter the oil products business. It may be a ship. Petroleum products are like any other goods that must be removed. Fleet management opportunities are also available.

Moving to work, church, mosque, visit, city to city, there is always movement. With over 150 million people on the move in Nigeria, this is a profitable business.

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Types of business in Nigeria

  1. Oil and gas trade

Here are some opportunities in the oil and gas business: gas distribution and pumps

  1. Cooking gas business, this is an untouched business in Nigeria
  2. Kerosene business
  3. Oil and gas transportation


  1. Agribusiness

Here are some agribusiness opportunities:

  1. snake breeding
  2. Livestock farming
  3. Palm oil business
  4. Cassava cultivation
  5. Poultry farming
  6. Snail breeding


  1. Trade in food products

Here are some opportunities in the food business:

  1. The copyright
  2. Local restaurant
  3. Foreign and intercontinental restaurant
  4. Food supply business


  1. Blogging business
  2. Real estate business
  3. Furniture business
  4. Hotel management
  5. Transport business
  6. Social media marketing
  7. Fashion business
  8. Online video business
  9. Dry cleaning business
  10. Pure water business

Dropshipping business

Ways to immigrate to Nigeria

  1. Educational migration
  2. Migration of special conditions
  3. Tourist immigration
  4. Work migration
  5. Migration through mobile

Frequently asked questions about immigration and company registration in Nigeria

Yes, you can because the Companies and Allied Affairs Act provides that people from any country can come and register their business in Nigeria.

You can form a company or register your business from anywhere in the world, you don’t need to be in Nigeria to do this.

Dropshipping is the most profitable business in Nigeria with little capital which includes selling different products online. But the good part is that you don’t need to have a shop or inventory. You sell what belongs to big suppliers or resellers and get a commission. It is very popular among Nigerian youths. The point is to find a niche that uses it less

Digital businesses are the cheapest businesses to start in Nigeria as they usually do not require much capital. You can get started in most of them with just internet access e.g. of digital businesses include dropshipping, blogging, Vbloging, skit-making, etc.

There are many jobs you can do in Nigeria and make daily income. Most jobs that involve buying and selling have daily income.

In Conclusion

For more information, you can contact the legal department of the Iran and Africa Business Club every day and get advice from our experienced lawyers. You can also fill out our legal consultation request form and through that our consultants will check all your conditions and contact you and tell you the necessary solutions.

Legal advice request form
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