If you’re seeing many investors investing in Asaba, Delta State, and wondering why you should invest there, you’re at the right place.
There are tons of reasons why many Nigerian investors are choosing Asaba as part of their investment plan. Besides the rapid population growth, Asaba has garnered interest from investors because of its promising, robust, and fast-rising economy, political stability, tourist attractions, and conducive and supportive business environment.
This article discusses why investors find Asaba a promising environment worth investing in.
Top 7 Reasons Why Investors are Investing in Asaba
Here are important reasons why you should consider having an investment or more in Asaba:
1. Economic Stability
Asaba is one of the top economic hubs of Delta State. It’s one of the major contributors to the Delta State’s gross domestic product (GDP) of $40.05 billion, the 5th highest in Nigeria, as of 2021. This is because of its rich mineral resources, population growth, and robust economic activities.
It houses numerous industries, including real estate, oil and gas, manufacturing, agriculture, tourism, etc. The activities of these industries contribute to Asaba’s economic growth, create employment, and attract entrepreneurs and professionals to the city.
Also, its proximity to Onitsha main market, one of the largest markets in West Africa, makes it even more economically viable and appealing to smart investors.
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2. Strategic Location
Asaba is strategically located along the River Niger and surrounded by Edo, Anambra, Rivers and Bayelsa. Its position makes it easy for Asaba residents to access neighboring economic hubs like Onitsha, Yenagoa, Benin, and more.
The strategic location of Asaba makes it appealing to investors who want to cite their investments in a strategic location between Eastern, Southern, and Western Nigeria.
3. Infrastructure Development
In the 2023 budget, the Delta State government earmarked N111.4 billion for infrastructural development. The governor explained how the funds would be used, with bridge and road constructions taking a major share.
The infrastructural development in Asaba has been immense in the past two decades, with massive developments like the Asaba International Airport, hospitals, companies, high institutions, etc., being established.
With the rapid urbanization of Asaba, the area has become a major attraction for smart investors with good foresight to identify massively undervalued environments.
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4. Population Growth
According to the 2006 national census results, Asaba had over 149,000 people. But recent projections have it that its population is currently over half a million people.
The rapid population growth is a testament to how viable the area is for investments. Many people, including professionals, artisans, entrepreneurs, etc., are moving to the capital city for greener pastures.
As an investor, the current rising population of Asaba is proof of its potential. The increased population needs more goods and services, real estate, social amenities, etc., to comfortably go about their daily businesses.
5. Conducive Business Environment
Every investor wants a conducive, enabling environment for their business to thrive. The ease of doing business in Asaba is one of the main reasons entrepreneurs are moving to the state en masse.
Unlike Lagos, Abuja, and other heavily taxed cities in Nigeria, Asaba has favorable tax policies in place to enable business growth. Even more, the government provides massive support to businesses.
In 2022, the Delta State government provided financial support to 2,500 artisans in the state, and in 2023, grants were made available to small businesses with promising business concepts.
The business-friendly nature of Asaba and Delta state as a whole is proof to smart investors that investing in Delta is a wise decision, as their investments will receive all the support they need to thrive.
6. Political Stability
Since the military gave up power in 1999, Delta State has only been led by PDP governors. This shows how politically stable the state is, as the governors usually take over from where their predecessors stopped instead of proposing new policies.
A politically stable environment is essential for business success and growth, especially in the current Nigerian political landscape. This is because there won’t be any need to worry about abrupt policy changes that can affect your business or even take you out of business for good.
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7. Tourism
Another reason you should invest in Asaba is that it’s an endearing place for tourists and visitors. Asaba has numerous tourist attractions, from the Lander Brothers Anchorage to the Otuogu Beach, Olona Ranch and Holiday Resort, and the Kwale Game Reserve.
Every year, hundreds of thousands of people from within and outside Nigeria visit Asaba because of its rich tourist attractions. You can profit from this by investing in the real estate market, agriculture, hospitality industry, or other areas in the city.
Promising Investment Sectors Worth Exploring in Asaba
Here are some promising industries you can consider investing in in Asaba:
- Real estate
- Food
- Hospitality and tourism
- Manufacturing
- Agriculture
- Transportation
- Education
Is Real Estate a Profitable Investment in Asaba?
The rise in economic activities in Asaba, coupled with the rapid population growth, has made the city great for real estate investments.
As long as the population of an area continues to increase, the demand for real estate will always be on the rise. People need land, residential apartments, office spaces, retail shops, warehouses, etc., to cater to their real estate needs.
Therefore, it’s profitable and worth it to invest in the Asaba real estate industry, as it enables you to tap into the growing potential of the area.
Conclusion
Asaba is a worthy investment location for smart investors willing to put their money in a reputable investment and watch it grow over time. While it may not be at the same level as major economic hubs like Lagos, Aba, Onitsha, Abuja, Owerri, and Port Harcourt, it promises good returns for your investments, both now and in the near future.
However, you must first understand how you can take advantage of the investment opportunities in the state and create an investment strategy that suits your needs and budget.
Hopefully, this article has given you insights on why you should look beyond Lagos and Abuja and consider Asaba a worthy investment location in 2024.
To invest in our Asaba real estate offer, Ogwashi-Uku, Delta State, please, call +2348132794689 or send a WhatsApp message to +2348132794689.
