HOW TO CREATE WEALTH FROM DREDGING IN NIGERIA - 2

Most times we hear wealthy people talking about diversifying their source of income but do not know what to invest in, or some top civil servants who receive gratuities after retirement without a clue on what to do with it.

At the end of the day, they either lose their money to fraudsters, wrong investment line or worse still not investing it at all and in that situation, those that fail to make any investment end up depleting their money without a clue on how to recover it back.

It is better to take a risk by investing rather than risking zero investment at all. In the dilemma of what to invest in, I would encourage you to give a thought to investing in dredging either as an individual or a group of friends with a common goal which is making a good source of livelihood after retirement leaving legacies behind for your generations to come.

In continuation of my earlier post on wealth creation via dredging, lakes/reservoir creation and ports and harbour construction are two major ways you can take advantage of as a big league player in the industry and you will be glad you did.

Man-made lakes (reservoirs) are usually built to address one or more specific human needs. 

These needs include municipal and drinking water supplies; when a local government ventures into this at this our present time in Nigeria, where sources of drinking water, housing and some other basic amenities relating to this are close to non-existence.That local government will generate revenue close to what the entire state generates when managed honestly.

As individuals, agricultural irrigation alone has the potentials of creating wealth running into billions in profit when the right crops are produced. With the population in Nigeria, the market is not a problem not to talk of exportation. Commercial fisheries are something you can do alongside agricultural irrigation and not regret it.

Individual or privately owned power generation plant through the lake creation is another goldmine with the epileptic power supply in the nation.

Lakes/water sports and recreation is a multimillion-dollar business in other parts of the world. It will do equally well in Nigeria when managed properly, a lot of people want to unwind relieve pressure, relax and at the same time exercise their bodies through water recreation. People will be happy to pay a substantial amount of money for this. Companies and cooperate bodies will also pay handsomely for water sports and recreation as a part of brand partnership or promotion.

In all, you can never go wrong in lake creation in Nigeria with the right capital.

As for port and harbor construction, a group of individuals can come together with the right backing from the government either at state or federal level to construct harbours or ports (could be river ports) in areas such as Onitsha in Anambra State to serve the eastern part of the nation, Lokoja in Kogi State or in Niger state to serve the middle belt and the FCT.

When harbours are artificially created they serve as ports and I do not need to emphasize much on the economic importance of these features in their aforementioned areas and the amount of wealth it will bring both for investors, the youths and the public at large not to talk of the massive revenue it will create for the government.