I SEE MONEY IN EKITI STATE BY OLUBUNMI OLUWADARE

Ekiti State's Purchasing Power- Unlocking Economic Potential.


Assumptions:

1. Population: 2.5 million

2. Average household size: 4-5 people

3. Socio-economic distribution:

    4. Low-income: 40% (₦50,000 - ₦150,000/month)

    5. Middle-income: 30% (₦150,000 - ₦500,000/month)

    6.High-income: 30% (₦500,000 - ₦2,000,000/month)

Projected Monthly Purchasing Power.

1. Food and Beverages: ₦12.5 billion - ₦20 billion

2. Household Goods: ₦4.5 billion - ₦7.5 billion

3. Clothing and Textiles: ₦3.5 billion - ₦6 billion

4. Healthcare: ₦2.5 billion - ₦5 billion

5. Education: ₦2 billion - ₦4 billion

6. Entertainment and Leisure: ₦1.5 billion - ₦3 billion

7. Transportation: ₦1.2 billion - ₦2.4 billion

8. Housing and Furniture: ₦1 billion - ₦2 billion

9. Electronics and Gadgets: ₦800 million - ₦1.6 billion

10. Personal Care and Beauty: ₦600 million - ₦1.2 billion


Total Projected Monthly Purchasing Power:

 ₦40.3 billion - ₦73.7 billion

*Annual Purchasing Power:* ₦483.6 billion - ₦882.4 billion

Breakdown by Socio-Economic Sector:

1. Low-income: ₦10.5 billion - ₦22.5 billion/month

2. Middle-income: ₦15.3 billion - ₦37.5 billion/month

3. High-income: ₦14.5 billion - ₦43.8 billion/month


Key Industries:

1. Agriculture

2. Food Processing

3. Manufacturing

4. Retail and Trade

5. Healthcare

6. Education

7. Hospitality and Tourism

8. Transportation

9. Real Estate

10. Technology


Potential Business Opportunities:


1. Food processing and packaging

2. Affordable housing

3. Healthcare services

4. Education technology

5. E-commerce platforms

6. Digital payment solutions

7. Transportation services

8. Hospitality and tourism development

9. Agricultural inputs and equipment

10. Renewable energy solutions

"Made in Ekiti" Vision:

Imagine 80% of the purchasing power residing in the hands of state entrepreneurs, businesspeople, and SMEs.

Way Forward. 

Massive entrepreneurship development is the way forward. We must prioritize productivity and make Ekiti State an investment haven.

Olubunmi Oluwadare.

 Author

I SEE MONEY IN AFRICA

Founder. 

 www.uni-preneur.com www.getajob.ng 

About me www.olubunmioluwadare.com 

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