When you acquire useful business administration/management knowledge and add this to your skills, you are unequivocally bound for the top of the game in your chosen business line. This is the more reasons it is advisable to go to one of the business schools that teach the basic business administration/management skills before or after acquiring the basic skills of a business. You can never be wrong to go to a business school.
I have noticed that a larger percentage of entrepreneurs with a form of formal education are always different from and perform comparatively better than those without any form of formal education. Therefore, to boost your game in entrepreneurship and up your ante as an entrepreneur, it is advisable for you an aspiring entrepreneur to get a formal education to upgrade your skills.
If you don’t know why you should go to Business School as an aspiring entrepreneur, then I advise that you should get that settled first before proceeding to the rest of the article. Why would you want to learn about available Business Schools in Nigeria when you don’t even know why you want to attend one in the first place! Well, I guess you know why already. But if you don’t, I have compiled a full guide that lists and explains 10 key reasons why you should go to Business School as an aspiring entrepreneur. You can get the full guide here.
In this article, I share the best business schools in Nigeria for aspiring entrepreneurs.
A business school is tertiary institution that offers a university degree equivalent certification upon competition of a training in a business-related courses. The courses you can offer at a business school include Business Administration, Business Management, Business Strategy, Finance, Management Related Courses and Customer Relations related courses. The length/duration of the courses varies with the courses offered although they all share the in-depth knowledge in business. This is the more reason why you should enroll in one of these courses today.
There are various business schools in Nigeria and I will be sharing the best of them with you in this article. The sprout and growth of the various business schools in the country currently is largely supported by the large population of Nigeria. Being the most populous country in Africa, Nigeria offers so many great opportunities for business making the establishment of business schools a beautiful idea to investors. Doubtless, these business schools have aided the growth of businesses in Nigeria.
Below is a list of best business schools in Nigeria, their offer packages and locations:
(1) Lagos Business School
Lagos business school was established by the renowned economist, Pat Utomi. It is a graduate business school of pan-Atlantic university officially owned by Pan Atlantic University Foundation. Over the years, Lagos business has been rated the best business school in Nigeria. The school offers different categories of courses for aspiring entrepreneurs which ranges from executive courses to basic business courses like Business Decision, Business Administration, Finance, Accounting and so on.
Lagos business school is really a good and reputable business school that suits all business styles. Due to the increasing trend in the digital world, they have introduced online courses for people/businesses which cannot be on ground physically for studies. This implies one can get a business degree online from the school from the comfort of his/her home.
(2) Business School Netherlands, Nigeria
Business school Netherlands, Nigeria was established in the year 2003 in Ikeja, Lagos State Nigeria. It is different from other business school because it is managed by foreigners. Its uniqueness is due to the fact that the school offers its students the opportunity to study at a lower rate especially if you are a Nigerian. Besides, the school teaches both the theoretical aspect of business and the practicality of business theory. Since their establishment in August 2003, they have made great effort in improving the business world in Nigeria.
(3) Executive Business School
Executive business school is one of the top business schools located in Nigeria. It was founded in 2007. This business school is unique because it is internationally affiliated to some schools oversees for example in Europe and the United Kingdom. Executive business school offers courses at both the undergraduate and postgraduate levels e.g. Masters and doctorate degrees. They offer various courses in different spheres of business world e.g. Finance Accounting, Business, Information Management, Business Law and so on.
(4) African Business School
There is hope for aspiring entrepreneurs who want to gain knowledge and improve their skillset in Nigeria. African business school is a good choice business school located in Gwaripa Estate in the Federal Capital Territory (FCT), Abuja. The school was established in the year 2000 and is not only affiliated with international institutions but national institutions also. They offer great courses in Business, Management, Finance, Accounting, Banking Studies, and Public Administration. The school is also known as Centre for Management Development. The courses offered in the school help to shed more light not only on business but also in the cooperate world.
(5) The Delta School Of Business And Technology
The Delta School of Business and Technology is located in Warri in Delta State, Nigeria. The school offers various courses ranging from Business Management to Business Technology. Besides, they offer skills acquisition training for undergraduate and unemployed graduates respectively. It is unique school to study because they offer both business knowledge and practicable skills at the same time.
(6) GPE Business School
GPE Business School is a known business school located in the south-eastern part of the country. The school which was founded in 2007 is located in Enugu State, Nigeria. They are unique because they offer free training for their best candidates that shows dedication to their work. They offer intense practical and research of/in business. The school teaches business education that helps to prepare aspiring entrepreneur for the business and cooperate world. They offer not only Undergraduate studies but also Postgraduate studies in various business courses.
(7) Integrated Business School
Situated in the northern part of the country, Integrated Business School was founded in the year 2000. It is one of the best business schools for aspiring entrepreneur who live in the northern part of the country. Specifically, the school is located in Kaduna state and has been officially accredited by the National Universities Commission (NUC).
(8) Kaduna Business School
Kaduna Business School is a known Nigeria business school situated in Kaduna State, Nigeria. The school encourages innovative thinking among aspiring entrepreneur. They offer Business and Management Courses respectively and also train aspiring entrepreneurs for managerial roles. They teach professionalism and leadership in the business and cooperate world.
(9) West African Business School
The West African Business School operates in Nigeria and Ghana. It is located in Ikeja, Lagos State, Nigeria. This school was founded in 2002 to provide the best knowledge for Business Managers and Public Administrators. Also, this school helps to train business men and women in skills training and development as well as business education. Besides, The West African Business School offers world class Undergraduate and Graduate courses in Business Administration and Management. It is one of the best business schools in Nigeria as evidenced in their laudable past records and the world class training offered in the institution.
(10) Bowell Business School
Bowell Business School is one of the best of business schools in Nigeria. Like The West African Business School, this school is also situated in Lagos State with another branch in Akure, Ondo state. The school delivers the best entrepreneurial and General Management education which helps to develop both Business and Management skills. They also deliver online training programs.
Attending a business school (in Nigeria) as an aspiring entrepreneur is one of the best things that you can do for yourself today. The knowledge and skills that you gain from the training that you undergo in any of these schools can help you to top your game and increases your chance of success in the entrepreneurship world. Make your thorough research on the different business schools I mentioned here today and pick the one of your choice. Best still, visit any of their physical offices for enquiries. No knowledge acquired is a waste.
Why You Should Go To Business School As An Aspiring Entrepreneur
A school is a place where knowledge is acquired. As an aspiring entrepreneur, going to school is important because it helps you to add knowledge to your skills or ideas. A business school is a school where basically business-related courses are taught and it is advisable for all entrepreneurs to go to Business School in order to add additional knowledge and information to their skills. This will enable the entrepreneur to function and stay relevant in the Business and Corporate world.
Although going to a business school in Nigeria is somehow costly, there are different categories of business schools out there which one can enroll in and get the necessary professional skills for efficient business operations. Make your research and choose the one that is comfortable to you financially and which matches your day-to-day business operations. Luckily, you will find some that run at a subsidized rate and which you can attend while running your business simultaneously.
As an aspiring entrepreneur, making a choice to go to a business school is one of the best life decisions you will ever make. There are various reasons why you should go to a business school as an aspiring entrepreneur. In this article, I share 10 good reasons why you should go to business school with you as an aspiring entrepreneur in Nigeria.
See them below.
10 Reasons Why You Should Go To Business School
(1) Attending A Business School Will Help You To Make Better Career Choice
Attending a business school as an aspiring entrepreneur will help you to make a better career choice and help you focus. There are different courses taught in the business school and going for (i.e., offering) these courses especially the ones that match your business delineation will help you to structure your business ideas and help you to make better decisions in your career.
Aside from helping you in your idea formation, execution, and expansion, attending a business school in Nigeria will help you to function well and have an edge in the cooperate world. As the world is going more digital today, it is most likely that only people with multiple streams of income wil be able to survive the tough climates of the future. If you are an aspiring entrepreneur, with your degree from a recognized business school, you can work in the cooperate setting and also run a business as a side hustle.
(2) Attending Business School Will Help You To Attain Personal Growth
As an aspiring entrepreneur, attending a business school is not only for career development but also for personal growth. Let’s looking away from the monetary sacrifices or benefits and focus on the personal growth for a moment. When you attend business school, you get exposed to different categories of businesses. In business school, you will be exposed to in-depth knowledge of business education which will personally groom you for what lies ahead of you in both your business and career. It is a great opportunity for you to fulfill your goal of becoming a certified entrepreneur. Business school degree is equivalent to University Degree and fortunately they run postgraduate studies for graduates from other schools and Universities.
(3) You Get Upgraded Skills
As an aspiring entrepreneur, going to a business school will help you to acquire more skills. Examples are critical thinking and analytical skills which will help you to make good decisions in your business choice and anywhere you find yourself in the world. The knowledge and skills that you gain from business school will also help you in your day-to-day activities. Also, business school teach different skills related to the cooperate world. Some of these skills are Presentation Skills, Interpretation of data (Data Interpretation), Information Management and Personal Development skills which will help you to function not only in the business world but also in other areas of your life.
(4) Helps to Widen Your Scope
Business programs offered in business schools will widen your scope about your business. For example, with the knowledge gained from business school, you will learn how to and be able to write your business plan(s), structure of your business, have risk awareness, know different marketing strategies, learn finance management, and acquire leadership skills. Acquiring a skill is not enough in business. For example, we have a lot of people with different business ideas but who have difficulties with structuring the business and this limits the lifespan of their business. Therefore, business school will help to widen your scope about the business you want to venture to.
(5) Helps You To See Beyond Local Lens
Business programs/course taught in business school will help you to understand business beyond the local lens. It will expose you to working with different people; there are some business schools that run their program with international students. This will help to broaden the scope of study which will include studying business beyond your local environment or country (i.e., Nigeria).
(6) Business School Showcases Practicality Of Business
In most business schools, the students are taught practical business operations; they undergo several business projects which expose them to the practicality of business. There are several models and theories in business but as an aspiring entrepreneur, you will need more of practical in your business and the most interesting thing about going to a business school is that you will be exposed to both basic and comprehensive business practices which will help you stand out among your fellow aspiring entrepreneurs.
(7) Attending Business School Offers You The Opportunity To Further Your Education
Business school is not just for people who studied Business Administration and Management in the tertiary institution at bachelors (i.e., graduate) level but for everyone who wishes to have the knowledge of business. Therefore, there is opportunity for further studying i.e. you can obtain your Masters and Doctorate degree respectively in business. This is a great opportunity for people who graduated from other University courses but want to switch to Business Management and Administration or Entrepreneurship.
(8) It Helps To Fuel Your Passion
When you make a decision to go to business school as an aspiring entrepreneur, you are indirectly or directly fueling your passion for business. It will help you to take what you love seriously and see it from a different angle. Business practices taught in business school will help you to develop more interest in your field and it can also help you to make better decisions in your business idea which will help you to achieve your goals faster.
(9) Build Interpersonal Relationship Skills
Attending a business school as an aspiring entrepreneur will help you to develop interpersonal relationship skills which involve proper communication skills, customer relationship skills, and human relationship skills all of which is are basic skills you should have as an entrepreneur. You will learn how to communicate with people at different levels. You will be taught how to give business report and you will also acquire passive and active listening skills.
(10) Self Improvement
Doing new and different thing for yourself is a form of self-improvement. Going to a business school as an aspiring entrepreneur is a form of self-improvement because you are not just limiting yourself to only what you know. Rather, by engaging in academics, you are actively brainstorming, tasking your brain and challenging yourself to become a better person in your field, moving from just an entrepreneur to a business guru. Upon completion of your studies, you will not just have the skill but the knowledge of how to become a business mogul. Going to a business school as an aspiring entrepreneur is one of the best things that you can do for yourself.
As an aspiring entrepreneur you must dare to stand out by going beyond your circle to be the best among your peers. Going to a business school to acquire professional knowledge on business and management will help you to stand out both in the business and corporate world.
Legal Requirements When Starting Business In Nigeria
The beauty of every business is when it is legal or operated legally. Generally, in the context of business, being legal simply means that when a business is checked, it is found to be registered, verified and certified by the constituted authorities in the country. Most consumers have this special kind of trust for legal business. Hence, as a Nigerian entrepreneur or an entrepreneur operating in Nigeria, you should not take all the legal requirements when starting business In Nigeria. Do not take these legal conditions that surround the smooth operation of your business with levity; they are very important to your business success.
In Nigeria, most businesses are not legally recognized and this is consequential in the long, medium and short term. Some of these include locking up (closing) of an operating business, sanctions, and other forms of legal actions against non-compliant businesses. To be on the safer side and not face the wrath of the law, it is good to meet the legal requirements when starting a business in Nigeria. It is required of you as an entrepreneur in Nigeria to meet all legal requirements.
In this article, the important legal requirements when starting business in Nigeria are discussed.
10 Important Legal Requirements When Starting Business In Nigeria You Must Meet.
1) Business Registration
Recently, business registration in Nigeria has been made easy. It is not a must but is very important. Business registration is done by a governmental body in Nigeria known as Cooperate Affairs Commission (CAC). This body helps to register the businesses in the country. Their portfolio includes registering of business name, company/corporation/charity and other organizations. They also issue certificate of business or company registration. CAC registers small-scale, medium-scale and large-scale businesses. They help to know if a business name has or has not been registered by someone else to avoid confusion. Upon validation, the body issues a business certificate which indicates that a business is legally registered. A duly registered business in Nigeria is open to a lot of benefits like grants, loans, interns from NYSC and many other benefits.
2) Nigeria Investment Promotion Commission (NIPC) Registration
The Nigeria Investment Promotion Commission (NIPC) basically promotes foreign investment in Nigeria. This body registers businesses that want to involve in foreign participation like importation/exportation in the country. Obtaining a certificate from this statutory body puts out (showcases) your company for foreign participation/investment among foreign investors.
In Nigeria, a larger percentage of entrepreneurs do not insure their business. This is bad and legally not right because as an entrepreneur, insuring your business protects your business against any unforeseen/unplanned circumstances e.g. theft, burglary, fire incident etc. In Nigeria, business insurance is not compulsory but it is a safe thing to do against unforeseen contingencies.
4) Registration with Federal Inland Revenue Service (FIRS)
Federal Inland Revenue Service is a statutory body that oversees taxation in Nigeria. They issue any document related to taxation. A legal business must meet her tax requirement which include tax clearance, Tax Identification Number (TIN), etc. As a business, you are required to pay tax to the government. So, registration Federal Inland Revenue Service (FIRS) is mandatory. Registration with federal Inland Revenue Service will make sure all taxes paid by your company get to the appropriate quarters and you stay of the wrong side of the law.
5) Registration with Trade Commission(s) and Association(s)
Intending business should be fully registered under the appropriate trade commission/association or bodies. For example, a pharmaceutical outlet should be registered and get a license from pharmacist national bodies; a photography business must be duly registered under the association of photographers likewise a diagnostic center must register with the association of medical laboratory scientist in Nigeria and so on. It is important to register with the appropriate regulatory bodies. It is an important legal requirement when starting a business in Nigeria.
6) Physical Offices Tax Registration
If your business is offline i.e. you own a physical office or shop where you run your business, you must register with the tax office at both state and local government level where you are required to pay tax to; taxes are collected annually. The governmental body in charge of this registration is known as Internal Revenue Service (IRS).
7) Business Permit
If you are a foreigner and you want to start a business in the Nigeria, it is legally advisable to get a business permit. A business permit is often issued by the ministry in charge of internal affairs. This help you as a foreigner to run your business legally in Nigeria because it is against the law to run a business as a foreigner without a business permit from the regulatory bodies.
8) Exportation and Importation of Goods Permit
This permit is mandatory for a business that deals with importation and exportation of goods in the country. For example, if your company imports any consumables either food or drug, an importation permit must be collected from an agency of government known as the National Agency for Food and Drug Administration and Control (NAFDAC). This aids easy movement of your goods into and around the country, likewise exportation of goods; a permit must be issued out to the relevant bodies in charge of the product. Another regulatory body in the country is the Nigeria Communication Commission (NCC). This body oversees the registration and regulation of telecommunication services in the country.
9) Labour Law Registration
If you are going to be an employer of labour, you must be duly registered in accordance with the Labour Act. This helps to monitor funds that will be contributed for any unforeseen or unplanned circumstances that might occur while your labourer/staff is in service. The eventuality could be injury, illness, disability or even death! Contribution of about 1% of the total money earned by the employees is saved up for unforeseen issues and can also serve as pension after retirement.
10) A Financial Account Opening
One of the legal requirement when starting a business in Nigeria is opening a corporate account with any financial institution e.g. bank. This must be opened in (your name or) the business name where certain documents will be requested by the bank before opening an account with them. Some of the basic documents for opening a corporate account in Nigeria include Bank verification number (BVN), Tax identification number, mode of identification, business registration certificate, etc. depending on the bank. This enables you to have the ability to obtain loan from a bank, get government loan and enjoy other empowerment programs.
As much as possible, it is important to meet the list of legal requirements when starting business in Nigeria herein listed and explained depending on the kind of business you want to undertake in Nigeria. To legally run a business in Nigeria, try to comply with the appropriate legal requirements. Some of them are not mandatory but they are important to have and may be acquired to run your business smoothly. Avoid the fear of being brought to book by legal authorities by complying accordingly. Also, a good business should have a lawyer to assist in explaining and implementing the legal aspects of the business. So, if you can, get a legal practitioner for your business to be on the safer side of running a business in Nigeria legally and successfully.
How to Buy Property in Abuja
Would you like to property in Abuja? If your answer is Yes, then come with me as I show you step-by-step how to go about this in just few easy steps! Nigeria as you know is a very rich country. Although generally bereft of good governance, the country is still a highly lucrative place to start a business and earn massively from it. There are different types of businesses one could do in Nigeria ranging from small-scale to large-scale businesses. One of the most exciting and big income earning businesses in Nigeria over the years is real estate business. This type of business generally depends on location for profitability. Having a property in Kogi or Osun can’t be compared to having it in Abuja.
Abuja is the capital city of Nigeria and is one of the leading, most-fast growing cities in Africa. It is till date one of the safest places in Nigeria and null of huge volume of traffic for which a city like Lagos is known for and which makes it (Lagos) dreaded to many people. Lagos might be the center of economy of Nigeria but Abuja is arguably the sanest city in Nigeria. Many Nigerians are investing in properties in Abuja for either businesses or pleasure. Whichever side of the divide you choose, there is abundant room for prosperity if you choose to buy property in Abuja any time from now.
The Steps to Follow to Buy Property in Abuja
Getting a property in Abuja can be very tedious, well, what isn’t in Nigeria? Nevertheless, there are some steps to take before acquiring any property in Abuja. Let me give you an example of acquiring a landed property in the city. First, understand that land in Abuja belongs to the Federal Government of Nigeria and is controlled by the *FCT Minister. Allocation of land is headed by the Minister. There are 2 Agencies in charge of landed properties in Abuja and both are headed by the FCT minister. These agencies are The Federal Capital Development Agency (FCDA) and Abuja Geographic Information System (AGIS).
* “FCT” is an acronym for Federal Capital Territory.
The Federal Capital Development Agency (FCDA) and Abuja Geographic Information System (AGIS)
These two agencies are under the FCT Minister and although they oversee land management in Abuja, still have different and complete roles that they play.
The work of FCDA is to oversee the planning and expansion of the city and their main goal is to make Abuja a world-class City to live in while the AGIS oversees the allocation and distribution of land in Abuja.
The AGIS provides:
- Certificate of Occupancy,
- Rights of Occupancy,
- Land allocation application, and
- any other related services.
Although, Abuja land is owned by the Federal Government, it is generally divided into Public Land and Private Land.
The Public or Government Land is the land which is allocated by the government directly through AGIS while the Private Land is the land which has been allocated by a person or an organization.
When acquiring public property, it is important to know that there are two different kinds of properties in Abuja which are:
- Government Acquisition Land, and
- Government Committed Land.
In Government Acquisition Land, the land is opened for buyers as long as they go through the main and legal channel. But in Government Committed Land, the federal government reserves this area for future city development like building of Airports, Rail tracks, Roads, etc. Any building on this structure will be demolished and the owner of the property will be sued. To avoid this unfortunate situation, the buyer needs to confirm from the office of AGIS about a condition of the land in view – whether it is Government Acquisition Land or whether it falls under Government Committed Land and take necessary action or redress.
To buy a land in Abuja directly from the government, there are some applications to fill and follow step-by-step. The criteria required include visiting the website of AGIS and completing an online application process which include:
- Completion of the downloaded application form with some details like name, age, address and contacts.
- Citing what the property will be used for such as either hotel, church, mosque school etc.
- Paying an application fee directly to the bank account provided by the AGIS, and
- Presentation of evidence of payment through the bank receipt to AGIS.
Documents such as the Application Form, Driver’s License, Passport Photograph, etc. should be presented formally at AGIS.
After your application has been reviewed and validated, a piece of land will be allocated to you and acknowledged.
After all this applications, a Right of Occupancy (RoO) will be granted to the person from the government. It is important to convert the Right of Occupancy to Certificate of Occupancy (CoO) as early as possible. The processes to obtain Certificate of Occupancy can also be processed through the AGIS and this certificate gives the buyer the full ownership right of the landed property.
Related: How To Buy Properties In Lagos
Private Properties Acquisition
To acquire a private land in Abuja, the Certificate of Ownership of the seller which was given to him/her by the AGIS will be transferred to the new owner of the property upon purchase of the said property. The process to acquire private land differs from the one of public land. They are easier to acquire and they have a range of locations one can choose from personally unlike public in which government can allocate places that are underdeveloped or sparsely populated. Since a buyer will just be allocated a land straight from the government, the places are usually not what the buyer expected or will enjoy most times. Therefore, it is advisable to purchase an already registered property. This is the route many people go for.
Buying a private land is easier and quicker because all the steps required by AGIS will be skipped since they have been previously undertaken by the original owner of the land or property. Nevertheless, it is important to know that there are scams everywhere in Nigeria; therefore, one has to be very careful before purchasing a private land in Abuja. This is where Real Estate Agents, Surveyors and Property Lawyers come in to ensure that the land to be sold is genuine.
The property business in Abuja is big and lucrative and therefore, finding the best and genuine land to buy is always a great deal. One needs to engage the services of a Real Estate professional instead of family and friends. The estate professionals are vast in knowledge about Abuja land and therefore have real and genuine advice to offer unlike family and friends who might be limited in knowledge about landed properties’ acquisition in Abuja.
Related: How To Buy Property In Port Harcourt
Useful Tips for Buying Property in Abuja:
Do Necessary Preliminary Checks
It is important and of necessity to do some preliminary checks on the property before verifying the seller’s documents. Things to check include the neighborhood of the landed property, location, environment, security, and soil structure. These checks can be done by a Surveyor.
Conduct Legal Search to Validate Records
The next thing to do after confirming the location of the property and verifying the document is to conduct legal search. The legal search includes verifying the documents and making sure they are genuine and duly registered in the AGIS database. This can be done appropriately by employing the services of a registered lawyer to take a look at the documents for legality.
After everything has been verified and confirmed genuine, the property can be purchased and the ownership can be transferred to you.
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