Nigeria is indeed a land blessed with milk and honey but the problem is that not many of us can identify business opportunities and maximize them. Being a developing country, Nigeria is a fertile ground where the innovative entrepreneur and business person can create wealth for both himself and others as well as create employment ... Continue Reading
Nigeria is indeed a land blessed with milk and honey but the problem is that not many of us can identify business opportunities and maximize them. Being a developing country, Nigeria is a fertile ground where the innovative entrepreneur and business person can create wealth for both himself and others as well as create employment opportunities for those in search of jobs. Listed below are top twenty lucrative business opportunities in Nigeria from the perspective of WealthResult.com, a great site that analyzes business opportunities in Nigeria:
1. Poultry Farming:
Poultry farming is a very lucrative business in Nigeria. One proof is the number of investors coming in from outside to invest in the business. Another is the number of average Nigerians that are creating steady wealth from the business.
2. Cassava Production:
Cassava derived foods are some of the most consumed in Nigeria. For this reason, more individuals are also picking interest in cassava farming. Investing in cultivating a 50 to 100 acre land in a fertile area like Ondo State will yield a great harvest.
3. Importing Used Cloth:
The cost of buying and importing used cloths is low compared to the prices in the market here in Nigeria. One of the reasons could be because many people prefer to buy used items that are high in quality than to buy fake items and this guarantees good turn over on investment.
4. Sale of Furniture:
You don’t need to be a carpenter to invest in this business. Just arrange for regular supply from reliable carpenters and furniture makers while you display and sell in your showroom. It is a very big business in Nigeria as only few can afford the imported designers. It is indeed a goldmine.
5. Snail Rearing:
There are few people currently into this business in Nigeria and most of them are doing it in a very low scale. It is a choice animal farming business for a number of reasons. One is that it is a low capital investment business with a high yield and a large market.
6. Rice Farming:
Rice remains the most consumed food staple in Nigeria and billions of dollars goes into importation of this product yearly from China and Thailand because the local farmer is unable to meet up with the demand as a result of poor funding and limited knowledge.
7. Fruit Juice Making:
Nigeria is one the countries that most patronize fruit drinks in Africa. Companies like Chivita that came into the country as nobodies are today making billions of naira annually. This business in capital intensive but if you can afford it, it’s well worth it.
8. Sachet Water Production:
Sachet table water popularly known as ‘Pure water’ in Nigeria is one of the most sold products in this country. Though this business is capital intensive, it is well worth the investment, especially if you can manage it properly.
9. Oil and Gas Business:
Nigeria is blessed with huge deposits of oil which presents some of the finest business opportunity for Nigerians and Foreigners over the years. Owning a Petrol Filling Station, supplying of diesel, and distribution of kerosene are some of the areas you can easily invest in.
10. Haulage Services:
The cost of moving a truck from one place to another in Nigeria is between N20, 000 and N200, 000 per trip depending on the distance. Due to poor rail transport system, most Nigerian goods are transported via roads, making haulage business in Nigeria a very viable one.
This is also a very great business opportunity in Nigeria. You can start with a small scale hotel of just ten suites. This has a lot to do with Nigerians being merry people as well as with the tourism boom in our country.
12. Fast Food Eateries:
Eatery business is another goldmine, although, poor management can kill it. If you wish to go into this business, be sure to get everything right and don’t forget it’s a bit capital intensive and requires good management skills.
13. Importing Spare Parts:
There is huge market for this business in Nigeria especially since we have few car manufacturing plants, though it is capital intensive. While investing in this business and gaining influence, you can also plan to start your own car manufacturing plant by bringing in foreign investors and specialists but with local employees. Our country needs this.
14. Investing in Property:
Property appreciates every day in Nigeria. Right now, Nigeria is one the countries in the world where landed property is most expensive. If you buy land now anywhere in Lagos or Abuja, you are sure to make a hundred percent profit within two years. You can buy and quickly resell and make profit or you can buy, keep and sell later.
15. Dry Cleaning:
Professional dry cleaners at affordable prices are scarce in Nigeria. What we have are professional dry cleaners whose service fees are extremely high or mediocre dry cleaners who can never keep with time. Give them cloths today and meet it unwashed after one week. This business is also a great opportunity if you balance it up.
16. Professional Car Wash:
This business is also a very viable one if it can be set up in a place like Lagos or Abuja where there are a good number of Nigerians using cars in those locations. It’s all about strategy and proper management.
17. Sales of Building Materials:
The rate at which new houses are springing up in Nigeria, you get to wonder why many people still complain of housing problem. Investing in building material is a good business especially in areas like Abuja that is developing fast.
18. Transport Business:
Nigerians travel a lot by road especially since our air and rail transport systems are not yet very viable. Investing in this business with good management and professionalism will yield great returns no matter the number of buses you start with.
19. Nursery and Primary Schools Business:
School Business is another steady source of income. It is an example of a good cash flow business since schools are great assets. It only requires a great deal of proper administration and management.
20. Investing in Online Marketing and Internet Companies:
This is a present-day business and a new investment opportunity that is creating billionaires around the world and a great deal of wealthy people in Nigeria. Mind you, it’s not fraud business popularly known as ‘yahoo yahoo’. It encompasses affiliate marketing, online advertising, information marketing and so much more. It’s really simple and you don’t need to be tech person to start this business, all you need is to look for a creative online startup platform as well as good ideas and invest. Within one to two years, you’ll be counting good profit.