While we all celebrate the beginning of an obviously great and potentially busy year, one with potential for multiple business opportunities it also pose a ton of openings and opportunities for Nigerian entrepreneurs.
Entrepreneurs are generally regarded as super creative people, they are those who diligently seek and dig out raw gems in form of opportunities in places where there seem to be nothing. These opportunities are what breeds business ideas and ideas rules the world.
In this post we’ll be sharing with you 50 hot business ideas that moves fast in Nigeria today.
They’ve also been tested over the years and proven to be profitable businesses even more so, these enterprise promises to be more lucrative in 2019 if the indexes are right; so if you’re thinking about;
starting a business or investing in Nigeria but doesn’t know which or where to start from or maybe you’ve been asking the question:
What kind of business can I do with little capital?
Then this article has been written specially just for you.
These ideas could simply just help you begin your entrepreneurial journey or simply help to spark up your creativity and create a truly outstanding enterprise that you’ll be very proud of in a few months or years to come.
Before you think of Investing in Nigeria, you should carefully consider the following;
Firstly; Get registered officially. While registration of business names used to be full of so much hassle, the situation is completely different now, as a matter of fact, you can now register it all by yourself, from the comfort of your homes.
How to register your business yourself
Head to Coporate Affairs official webpage apply for reservation of the name you wish your business to be called ( eg “Yourname Enterprises” ), this would usually cost you 500 naira.
Make name reservation payment (online payment), you shall thereafter receive a notification in your email ( this is usually between 24-48 hours), the message will confirm if the name you chose for your business has been reserved for you or otherwise.
If the business-name has been reserved for you, you would have a maximum of 60 days to register that name otherwise at the expiration of that time, that same name could be given to another person.
Secondly; Get an online presence. We live in an age where almost everything could be done online, from simple buying and selling to advanced online shopping and encrypted payment systems.
There is invariably no business category that doesn’t need a little help from the internet especially for publicity purposes.
So whatever choice of enterprise, investment or ideas you choose to run with, just ensure you have an online presences. You can begin from social media like Facebook, Twitter, WhatsApp or you can own a blog or a full blown website, but just ensure you have an online presence.
Thirdly; Be on ground. You may say I have a trusted relative, friend or an ally, but never forget the first principle of an entrepreneur;
There is no brother in business.
You must be prepared to be on ground to nurture your venture, believe me when I tell you that;
No other person can take care of your business as you do.
Never run or manage your venture by proxy ( especially in its early stages)
You just don’t start a new business, turn it over to someone and travel out of the country; hoping that the person you handed it over to, will do a good job.
If you are really serious about establishing a business in Nigeria, then you must be willing to be on ground to run that venture for at least one year ( depending on the business type). Again, forget about doing business with your family members or close friends; it oftentimes doesn’t end well. Rather, I will advice you seek professional help, incorporate your company and make sure your back is covered legally.
Fourthly; You must have basic knowledge of the business alongside your capital investments;
While it is extremely important to have extra capital to run your enterprise especially in its early stages, to succeed ultimately as an entrepreneur in Nigeria, you must have basic skill and knowledge on the business subject matter. Competence is a product of knowledge mixed with experience while skill is something you can develop over time through training. Invest time to learn as much as you can about a business venture before you invest your money into it.
Yo can check out our courses page to get some free business courses to get you on the path to an excelling business.
Fifthly; You must make sure your proposed business has an evergreen demand.
Although all business type die out eventually or at the least, undergo a new turn on how its operated, but don’t make the mistake of starting a business whose trend is obviously dying. One awesome example is the polythene production business, which from the surface looks a great enterprise, but on the contrary, the trend is actually dying.
Many countries are placing ban on polythene production and drifting to paper bags. Polythene products are not bio degradable and its major cause of pollution and blocked drains in Nigeria today, hence polythene products is a major topic whenever the issue of green house effect is on the table.
Over the past few years, Nigeria has experienced a continuously growing flood problems which has ravaged many states, with more states being added to the list of flood ravaged states on a yearly basis, it’s only a matter of time before the Federal government of Nigeria places a ban on polythene production business in Nigeria,
Another great example is the a cyber café business, this business is obviously dying because the trend is shifting towards mobile connectivity. so why should I go to a cyber café to access the internet when I can do it more cheaply at home?
Lastly; You must always remember that success is not an overnight flight.
The truth is that 95% of genuine businesses doesn’t work that way. Success can never be achieved or attained by sudden flight; it is a product of consistent, unyielding effort. So stop looking for the best business to start, instead; look for the best business you are willing to stick to regardless of the surrounding circumstances.
Listed below are 50 of the most lucrative business ideas in Nigeria in 2019.
We might have missed a few of these promising ideas, we however encourage you to add other business ideas that we couldn’t cover in the comment section below, we promise to update this list as soon as your comments encourage us to.
This is the next revolutionary industry in Nigeria where silent millionaires are currently being made.
According to the President of the African Development Bank, Akinwumi Adesina; ” By 2030, the size of the food and agribusiness in Africa will reach $1 trillion. So, if you’re thinking of how to make money, that’s the sector to be in.”
Although the sector have been neglected over the years owing to the discovery of crude oil in Nigeria, it beginning to bounce back now that the oil prices is becoming very unreliable, even the federal government is beginning to pull its weight behind other sectors with high economic potential and agriculture happens to be top on the list of such sectors.
In addition, Nigeria boast of very fertile arable lands that could support multiple types of crop production.
Below is a list of some of the most profitable agricultural business in Nigeria today :-
This is becoming my top-on-the-list of agricultural businesses. Pork meat is a delicacy in many Nigerian states and cities, their reproduction rate is also something to take note of;
Pigs gives birth twice every year, delivering between 10 – 15 piglets per birth.
Poultry business has always been a profitable venture which has been making many Nigerians rich. It’s very lucrative because the demand for eggs and “white meat” is higher now than it has ever been in this country ( this is because of our rapidly growing population), for these and many more reasons, poultry farming business in Nigeria would continue to soar; And no surprises really, In a country with a population of over 180 million people!
It will take a lot to feed that numbers.
Cassava is a very popular food source in Nigeria, foods derived from cassava are some of the most consumed foods in Nigeria. Products like flour, starch, biscuits, garri, are major foods gotten from cassava.
Cassava farming is easy to go into, it can easily by done in almost every part of the country.
Snail farming is one of the choice Animal farming for the following reasons;
It is a low capital investment with high yield and the market is big.
There are only a handful people currently doing this snail farming business– and most of them are doing it in a very small scale.
Snail farmers in countries like Cyprus are making huge gains from it, you too can venture into this with low capital and very small risk.
GET MY FREE PDF PRACTICAL GUIDE TO SNAIL FARMING HERE.
Rice on record is the most consumed staple food in Nigeria. The federal government of Nigeria has invested Billions of dollars into rice farming with the intention of making Nigeria self sufficient in rice production, this notwithstanding, rice importation from China and Thailand is still very much on the increase because local farmers haven’t been are unable to meet up the continually increasing demand for rice.
Other profitable agricultural businesses are:
Grasscutter farming, rabbit farming, cow and milk production, vegetable farming, catfish farming, shrimp farming, tilapia farming, mushroom farming and many more.
2. Agro-products exportation
Now that the Nigerian government is looking towards making agriculture the main stay of the country’s economy, we are beginning to discover how blessed we truly are. We posses a lot of food and natural resources; and most of these natural resources are raw materials needed for the production of some finished products. Every day, tons of raw materials and food products leave the shores of Nigeria to countries such as India, Vietnam, China, USA, UK, Brazil, etc; yet, the demand is never fully met.
You can become an exporter by first deciding on the specific product you wish to export and then simply registering with the Nigerian Export Promotion Council. Examples of products high in demand both within and outside Nigeria are Chili pepper, Tiger nuts, Mango, Kola nuts, Bitter Kola, processed Cassava (Garri), Cocoa, Groundnut, Yam flour, Cashew nuts, etc.
You might not want to invest huge bucks or too much time into agro-products exportation, then I’ll advice you to go into buying of farm produce like melon, beans, ogbono or even palm oil when its their season and their prices is cheap you can thereafter keep them in storage, until` the price has risen considerably, you can start selling them within the country.
3. Mining Business
The Nigeria mining sector has endured many years of neglect, but thankfully, it is beginning to boom
Nigeria has a lot of mineral resources like Limestone, Coal, Iron ore, Bitumen, etc.
The federal government in June 2013 implemented a policy to drive forward the mining industry by declaring the importation of mining equipment duty free. The government is also going after many dormant investors who were granted mining licenses but are not utilizing it. This act I believe, will spur the growth in the mining sector. If you have the financial capacity and a team, you can position yourself in this sector.
4. Sale of Furniture
You don’t have to know how to use a hammer before you venture into this furniture business. As a learned person, you already have an edge over a “un-schooled” artisan. Buying and selling of Locally made furniture is a goldmine if you’ve got the money to run it.
How to Start a Furniture Selling business.
You don’t need to be a carpenter to do this, the first thing you’ll need for your business to fly is 2 or 3 good and reliable furniture makers.
Go online to search for some good home furniture designs ( Google images could be a good place to begin your search).
You might split thesame job to two or three furniture makers ( only you should hold the master design).
To ensure uniformity of different pieces, you should be the one giving the furniture makers the finishing materials like tiles, the paint type, texture or leathers e.t.c.
After the job is done you will can now transport your beautifully finished furniture designs to your choice location showroom where you will assemble them and sell them at a much higher price. It is a very big business in Nigeria as only few can afford the imported designers.
Note that you might not need multiple furniture makers if you can get one trusted and reliable furniture maker
5. Fruit Juice Business
Nigeria is obviously a very hot place in most seasons of the year, and most Nigerians would prefer a cold fruit juice to water.
Only a few would argue that Nigerians drink a lot of fruit juice probably; more than any other people on earth. That could be one of the reason why fruit juice making companies like La Carcella and Chivita who came into the country as nobody are today making billions of naira annually. This business in capital intensive but if you can afford it, it’s worth a try.
6. Bottled Water Production
There is hardly any one who goes a whole day without drinking water.
Now think about that for a second!
People needs clean drinking water to stay alive and healthy, and a very Large percentage of people drinking water would resort to buying “pure water”.
This should give you a glimpse of how popular pure water business is in Nigeria right now, and how many trillion litres is dispensed daily.
On the down side this business is very capital intensive and it seems a little but over populated at the moment but its well worth investing into, especially if you can strategically position your company and manage it with professionalism.
7. Oil and Gas Business
There are lots of business opportunities in the oil and gas sector. Building a private refinery and refining crude oil is a mega money spinner business, there is a lot of potential in it and that is why the richest black man in the world Alhaji Aliko Dangote is at the verge of completing one of the world’s largest refinery in Lagos Nigeria.
You may not have the billions of dollars to venture into petrol refining companies or building a modular refinery or even importing refined crude products ( all the afore mentioned are very beautiful business and investment goldmine but are highly capital intensive) but here are some other lucrative small scale oil and gas business with high profitability;
Owning a Petrol Filling Station.
Distribution and supply of Diesel. Distribution and supply of Kerosene.
Cooking gas retailing outlets among others.
8. Haulage Services
The backbone of the business of selling physical products all rest on how effective the transportation and haulage of goods from place to place is.
If we don’t have an effective goods haulage system, it will discourage both sellers and buyers of that product.
The cost of hiring a truck from one place to the other in Nigeria varies between N20,000 to N200,000 for each trip. Buyers and sellers of goods have little or no other option because rail transportation system in Nigeria is poor, most Nigerian goods are transported through the road, making haulage business in Nigeria a viable one. .
9. Hotel Business
This has always been a hot business idea in Nigeria and a huge money making opportunity. If you choose to Invest in small scale hotel of between 10-20 suites, you will see the cash flowing in on a daily basis . This has nothing to do with tourism boom of any kind; there is just something in the average Nigerian people that make this business very lucrative – Nigerians are jolly people!
10. Fast Food /Eatery or Restaurant business
Eatery business is another goldmine though poor management kills it faster than lack of capital. 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. But if you get everything right, free money is yours.
HERE’S MY FREE INFO-GRAPHICS ON THE BASIC THINGS YOU NEED TO START A SUCCESSFUL RESTAURANT BUSINESS
11. Importation Of Tokunbo Spare Parts
You can bring spare parts of tokunbo cars from USA, Germany, or Denmark. Importing exotic cars to Nigeria is good, gathering tokunbo spare parts in containers and shipping it down to Nigeria is even better and its a business that moves fast in Nigeria. There is huge market for used (tokunbo) spare parts in Nigeria.
12. Investing in Property
Properties like Land and the likes appreciates continually in Nigeria. Right now, Nigeria is one of the countries in the world where landed property is very expensive. If you buy land anywhere in Lagos or in other major Nigerian cities, secure the property with its original documents, then you are sure to make at least 100% profit within two years. You can buy and quickly resell and make profit. Or you buy keep and sell later.
13. Dry Cleaning
Dry cleaners with professionalism who can keep to their word are scarce in Nigeria. What we have mostly are professional/ mediocre dry cleaners who rarely keeps to time. This business has a space for you if you can balance professionalism and keeping to time.
14. Professional Car Wash
This business is good if you can set it up in a strategic location in a place like Lagos where there are good number of cars.
15. Sales Of Building Materials
Nigeria is a developing nation and its one reason why new buildings and structures are springing up everywhere, you get to wonder why many people still complain of housing problem. Investing in building material is a good business in Nigeria.
16. Transport Business
We do have some notable names in this sector of the economy but many of the transport companies have been badly managed over the years.
If you are ready to Invest into this business with a good management team, you’re surely going to reap an awesome reward in a short time.
17. Nursery And Primary School
School business will continue its dominance amongst rival businesses.
Come to think of it:
Our population is growing almost “astronomically” and I don’t see anything (at least not in the nearest decade) being done about birth control or birth rate in Nigeria; so please!
Just give it to school business.
18. Metal Scrap Trading
This money-spinner is usually overlooked, maybe because the people in this trade aren’t looking near decent.
These metal scrap traders would buy a kilo of scrap metal from you at below N100 and sell for as much as N240 ( that’s close to a 150% profits) imagine loading a truck of scrap that was bought for less than N200k and selling it for over N500k to the smelting company.
19. Online Advertising Agency
I’d encourage you to look up my infographic on Nigeria’s online presence on one of my top article 50 legitimate ways to make money online, and by the way, this statistics keeps growing, so is its advertisers. Thousands of businesses in Nigeria are taking their business online to leverage the massive community of Nigerian internet users and market their products. This influx has created another emerging business opportunity in Nigeria for digital marketing entrepreneurs and experts. You can simply setup your own online advertising agency in Nigeria today and make millions off this budding business.
20. Fashion Business
The Nigerian people as well as its celebrities leads the rest of Africa on trending fashion.
The Nigerian people in general are probably some of the trendiest people in the earth. Fashion designers are becoming millionaires on daily basis in Nigeria, thanks to the evolution in the Nigerian fashion business orchestrated by the boom in the movies and entertainment industry in Nigeria. You would agree with me that if you buy a clothing material for 5k a fashion designer would collect between 10k – 50k to make you a good clothing design for you.
21. Media And Show Biz
You and I knows that Nigeria is the capital of entertainment in Africa? You also knows Nigeria is the highest consumers of media content in Africa? Now you can see how viable and lucrative media and show biz can be in Nigeria.
22. Investing In Tech/ Internet Companies
This again is another emerging business opportunity in Nigeria.
You don’t have to be a Tech person or a tech guru to do this, look for a creative online tech startup with good ideas and invest in it.
It is that simple!
If you’ve made the right investment, you would be reaping the rewards within 1 to 2 years with your profits in millions.
23. Inland waterway Transport
Lots of opportunities abound within the transport industry and inland waterways mainly along the coastal cities and states. Nigeria has a broad network of inland waterways comprising rivers, creeks, lakes and seas; yet, transportation still remains a challenge because investors are yet to tap into water transportation.
Many agricultural products and seafoods perish within the riverine villages and creeks.
This is largely an untapped business idea, so if you want to pick up the challenge, why not!
A lot of opportunities awaits.
Just incorporate a company, obtain license from the state and federal government, import or purchase some locally fabricated boats; and you are in business.
24. Establishing a Television and Radio Station
Many big cities and states in Nigeria with exception of Lagos and Abuja do not have any private TV station, and only rely on the government own TV stations; which are oftentimes very incompetent, uncreative and unreliable.
Entrepreneurs and investors whose got interest and feels they’ve got what it takes to handle broadcasting or mass media. You can choose to setup a radio station or TV Station.
If you don’t have the funds for a license and infrastructure to run a conventional TV and Radio station, then you can at the very least consider starting an online radio station, podcast or Youtube Video Channel.
A few names that would ring a bell who has made large bucks from this business model includes;
Mark Angel Comedy (popularly known as Emmanuella comedy), Linda Ikeji TV, LaughPillsComedy, PulseTv, etc.
25. Setting up a security company
Corporate establishments such as banks, are always on the lookout for excellent security companies or security devices.
Corporate entities as well as Individuals are now becoming more aware of the fact that security is not the responsibility of the government alone; it is a collective responsibility. Hence, the current increase in demand for security guards, bodyguards, executive protection professionals and security gadgets or devices.
As an entrepreneur or investor, you can build a business from setting up a security guard recruitment or training company, or you can setup an executive protection or bodyguard agency. You can also import and retail security products and safety devices.
26. Sewing of specialized uniforms
If you’re a tailor or you have an idea about the fashion business, then this is a business idea you really needs to take a look at. There are at least 200 schools ( Crèche, primary and secondary) both private and government schools in every major city in Nigeria; and each of these schools have a specific uniform or attire for their students, some even have multiple uniforms, like cardigan, sports wears and others.
This pose a huge financial honeycomb for every entrepreneur in the fashion Biz.
We might even want for a moment to turn our eyes to other government or non governmental organizations that uses uniforms.
Do you know that other individuals and corporate organizations are in need of uniforms for their Security personnel, staff, etc?
And if you can make the requisite connections, you can be making or supplying uniforms for: military (Army, Air Force, Navy), paramilitary (Civil Defense Corps, Police Force) and non-paramilitary (Road Safety, Traffic Warden, Vigilante groups, etc).
27. Construction company
This could be very capital intensive but since Nigeria is a developing country, it leaves a lot of doors open for construction business. Massive constructions are currently on-going in Nigeria ranging from bridges, roads, towers and skyscrapers, etc. If you run a construction company oversee, or you have the financial capacity to assemble the needed team and machinery for a construction company; then this is a business you should invest in.
28. Real Estate development
If you have the capital to undertake real estate development business, you can develop properties in choice locations in and around the country.
There are many people that are languishing for lack of adequate accommodation facilities in certain states or localities.
Top amongst the list of those in this pain, are students in various universities and other high institutions who live under harsh inhuman conditions; this isn’t really because most of those students can’t afford a comfortable accommodation; but because there are grossly inadequate apartments and the few available ones aren’t conducive .
Some of the aspects you can invest your money in this niche is in the development of event centers and conference halls, hotels, school hostels for students in places of higher institutions, shopping malls, residential apartments, and many more of the likes.
29. Set up a Freelance writing company
Freelancing is the bedrock of all work-from-home business ideas. You can sit down in the comfort of your home and write articles for companies in both your locality or foreign countries.
This is a business you can start right now without any initial capital investment. These online outsourcing jobs are usually called freelancing, these freelance jobs have become very prominent in Nigeria, and one of such jobs is Article Writing or Copy writing. You can consider platforms such as Fiverr, Elance, Freelancer, etc.
If you have the passion and skill for writing? choose to write from home as a self employed freelance Copy writer or you can setup a company, employ competent writers and source for jobs online. This business is easy to get into and it is very profitable.
IF YOU WISH TO KNOW FIND MORE FREELANCE BUSINESS OPPORTUNITIES,
30. Call center agency
Have you called the customer care service of a telecom network before? Or have you tried sending a message or complaint to a corporate organization before? Do you know that those who take your calls, complaints and respond accordingly are not employees of the companies you patronize; neither do they operate in the premises of the company? If you are hearing this for the first time, then welcome to the world of “Call center outsourcing.”
You can setup a call center agency and work for big companies on a contract basis. One sweet fact about this business is that you can always start small by becoming a call center agent from home, as it doesn’t require much startup capital unless you want to scale up by employing more helping hands.
31. Recruitment Agency
The labour market is becoming tougher and there are over 8 million unemployed youths in Nigeria. Another hard fact is that companies are no longer employing full time in-house staff; they are now using the services of recruitment agencies to employ people based on contract basis.
This strategy is aimed at reducing the cost of doing business by avoiding the cost of conducting a recruitment exercise and also avoiding employee claims and benefits. This is the sole reason why banks and other companies are sacking their workers on daily basis.
So rather than fight the trend, why not profit from it by setting up a recruitment agency and connect job-seekers to their dream jobs. You can also be a corporate executive headhunter and make money poaching competent staff from one company to another. If this is too capital intensive for you, then you can setup a resume writing service from home and profit from the trend.
32. Importation of wears
Clothing is one basic need of man. People regardless of whatever the situation is must wear clothes and this includes shoes, bags, underwear, perfumes, etc. Now there is a fast growing trend now and that is “Used clothes” or “Recycled clothes,” otherwise called “Okirika” , “Gbogbo” or “Bend-down-select”
You can source your materials from China, Hong Kong, Italy, France, Dubai, India, etc.
Read up How to buy goods from China and have them delivered to your doorstep in my article, 50 Legitimate ways to make money online.
33. Invest in Crypto Currency
Because of the volatility of this business, am not going to recommend any specific company.
Be that as it may!
Cryptocurrency is a trending business and the world has began tilting towards it, this simply means that its value will keep soaring.
I did invest 7k per unit in a crytocurrency sometime in May 2017 and in June 2018 I harvested 46k per unit invested.
IF you can find that reliable Crypto company I’ll advice you to give it a try.
34. Painting Service
Sometimes I see painters use same old conventional methods of painting and all I do is shake my head in self pity.
If you really are serious about rendering professional painting services, its as simple as simple can be.
Just go online search for beautiful painting designs and…
WOW! your clients.
You can also go into paint production business if you may.
35. Driving School
All you have to do here is to ensure you can drive very well, have one or two cars ( these cars doesn’t have to be very classy)
What you’ll do next is to approach a FRSC office to obtain a permit for a driving school
Thereafter you’re in business, all you now need is publicity.
36. Beauty and Makeup Store
One area of our nollywood industry that needs lots of improvement is the make-up sections.
We still see Nigerian movies with glaring makeup lapses. If you’re serious about taking this up as a professional make-up artist, with a little training (especially Free online courses) am very certain you can outwit our current make-up artists.
37. Bakery Business
Many people forming Big-Boys without money in the city can easily start a little bakery in their villages and capture the business in the entire village.
Most bakeries are found in the cities and many bread sellers would travel many kilometres to get products back to their towns.
Positioning is very important here, if a town of over 2500 population doesn’t have a bakery close by, then that’s a good place to start a bakery.
38. Event Planning
Let me ask you this question;
If you truly have the money available, would you go through the stress of running up and down to ensure your party is a success?
The obvious answer is no.
Event planning is becoming a very large venture, everything from, transportation and logistics, fashion and event make-up, cake designing and catering and many more.
You can choose the complete package if you’ve got the skill and finance or even any niche within the event management space.
39. Printing Press
This is viewed by many as a seasonal business. It is true that during festive seasons and electioneering periods, there’d be more demand for more printing press business.
That notwithstanding, this is still a very cool venture at every other season.
40. Outsourced bus service
This is another form of haulage business, but this time you will be lifting humans. This is a business that requires providing transportation services to organizations that cannot afford to buy a vehicle in-house. Your clients in this case can be schools, religious organizations, NGOs, corporate bodies, etc.
Some corporate organizations can’t afford an in-house transport system for its executives and staff, so this is where you come in. You provide the cars or buses, provide the drivers and you are paid on a monthly bases or contract bases for the use of your transport services.
Another area of target is schools. Most schools would like to provide transport facilities for their students but they can’t afford it and this is where you come in. You provide a bus service system and send out a proposal to schools to use your bus services. Just imagine 20 or more young schools jointly using your student bus service system and you will catch the vision of this idea.
41. Daycare centre
Nowadays, most corporate establishment gives 3 months or less for their female staff as maternity leave, and many of such companies would never allow the nursing mothers to bring their babies to office, there is therefore an increasing demand for a quality daycare services.
Now to be honest with you, there are a lot of daycare centers existing but only a few are providing exceptional services; and parents that cherish their kids are never comfortable leaving their kids in a child care centre whose environment is dirty. If you can come in with exceptional service and creativity, you will make money from this business. Another thing you must know is that you can start this business from home.
Now for those who lack the capital and experience to setup a full-scale childcare center, you can still make profit of this niche by starting a small scale babysitting service or Nanny agency.
42. Training centers
Millions of Nigerians seek opportunities and some of these opportunities require people sit for various examinations and tests. Many people usually need some kind of trainings or tutorials to pass these tests. You can position yourself as a provider of such training and make money off this niche. Examples of trainings you can offer include skill & vocational acquisition training, corporate management skill training, business training etc. You can also conduct tutorial for individuals writing professional exams like ICAN, WAEC, UTME, A. LEVEL, etc.
43. Waste Management
Wherever humans dwells, there must be some waste to dispose off.
The emergence of terrifying floods around the Nigerian coastal States in recent years has pointed the general Nigerian populace on the all important need to dispose waste properly.
Waste management is a business with a future potential because majority of Nigerians are still yet to imbibe the habit of proper waste disposal. However, states like Lagos have been doing a lot to encourage proper waste disposal and management. Now there are several businesses you can start within the waste management niche and these include waste recycling, waste disposal, junk hauling, waste to fertilizer production, etc.
44. Food Processing
This is yet another profitable industry and line of business to consider. Food processing industries simply takes raw food materials and turn them into finished products. As a matter fact, there are a lot of small businesses you can do in this niche, some of such businesses include Tomato puree production, Frozen food production, yogurt production, Vegetable oil production, Garri Processing, oil palm processing, groundnut processing, Fruit juice production, Rice milling, etc.
45. Alternative Power Installation
As the world goes green, and Nigeria continues her struggle with epileptic power supply ; there is an already established opening in Nigeria’s power sector. Even though the government has taken steps to deregulate the power sector by granting licenses for Independent Power Plants, granting a free import duty for the importation of power generation equipment and commissioning several power projects, this will never hamper the growing demand for alternative power generators such as solar energy, wind mills, Inverters, etc. You can either make money by importing and retailing these materials or you can choose to focus on installations.
On a smaller scale, you can locate large shopping malls or plazas that does not have a centralized alternative power source, you can negotiate with the leadership of such plazas on how much each stores would pay on a daily basis for you to serve them. After all negotiations, you’ll have to install a standby generating set that can power the entire plaza. You can do this for as many plazas as your capital would allow you, cos most plaza love this arrangement because it saves the store holders cost of maintaining their private gen set and it ensures a less noisy plaza as a result of multiple gen set working at same time.
46. Solar powered solutions.
Countries like China and Japan are benefiting big time from solar powered solutions and to make things even better, solar energy is a Renewable energy source. Nigeria is beginning to wake up to the realization of the fact that the world over is turning towards solar powered solutions.
You as an individual can make money from building and installation of solar panels for homes and offices to drive their small electrical equipments.
You can also venture into small scale manufacturing of products that are in daily need. You don’t need to build a factory or industrial plant; you can start on a small scale from your room or a rented store or apartment. Products you can start manufacturing include Toothpicks, Tissue paper & Serviette, chalk production, candle, Match sticks, cartons, paper bags, etc.
48. Become a Cement Distributor for Dangote
49. Bars and Clubs
If not a hotel, you can consider investing on a bar or a night club. Again, it attracts tourists who are looking for an active night life in countries like Nigeria. Plus, many local young adults in Nigeria seek a fun night life. If you are interested in investing in the entertainment industry, then you should consider starting a night club or bar.
50. Cold Room (Frozen Food)
Despite the high number of livestock farmers in Nigeria, frozen fish and chicken are still being smuggled into the country through the border because there is a market for it. Some people don’t want to go through the stress of killing and preparing fowls for eating, so they prefer to buy ready-made frozen birds. With the right plan and a strategic location, you can make millions by investing in building and operating a cold room.
In conclusion, there multiple investment opportunities in Nigeria which are not limited to the list above. I encourage you to drop you own idea, suggestions or questions in the comment box below, am eager to interact with you.
On a final note, get Knowledge and experience, they are the major prerequisites for success in any business, take risk but take risk the loss of which you would be able to bear.