This top 10 business opportunities in Nigeria should inspire you technically no matter your current situation or state of mind.
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Nigeria has approximately the largest economy in Africa and this is due to the constant increase in manpower and overall national production. Based on economic analysis, the growth of lucrative businesses is one of the key parameters behind substantial economic growth. Here are Top 4 Fastest Growing Businesses in Nigeria, You wont be disappointed after reading it.
There are lots of unemployed youths in Nigeria. And when I think about this, it really saddens my heart because I strongly feel that there are lots of business opportunities and untapped ideas that the average Nigerian can tap into and start making some money from, however small.
Majority of the youths might drift to say “What about startup capital?”, but the fact is that not every business requires huge capital to set up. There are even some businesses that could be started for less than N10,000 or N15,000, so capital really shouldn’t be so much of a stumbling block that would stop any serious entrepreneur from starting small and building a profitable business in Nigeria.
Here are ten lucrative business opportunities that you should consider venturing into if you’re looking to start your own business.
1. Poultry Farming
Poultry farming is one of the best and most lucrative business ideas in Nigeria right now. This has a lot to do with the fact that Nigerians love meat a lot especially Poultry. Just go to a party on any Saturday and you’ll see just how much poultry meat is consumed in these parties every week. Let’s not even talk about the ones we consume in our homes, in restaurants and eateries.
The demand for poultry meat is so high that a lot of dealers of poultry products resort to smuggling these items in from neighboring Republic of Benin just to meet up with demand. This ought not to be so considering that poultry farms are fairly easy to set up and could even be set up in your backyard. There are lots of products you can sell as a poultry farmer; you can package and sell frozen poultry meat, you could distribute and sell eggs or you could eve sell day-old chicks to other interested poultry farmers.
2. Snacks making
Snacks making is another hot business opportunity in Nigeria. If you’ve ever been on Lagos-Ibadan express road or on Benin-Ore express road, you would see how lots of Nigerians make their living from selling pre-packaged snacks like plantain chips, Coconut Chips, Potato chips, Chin-Chin and Popcorns to mention few.
You can set up a similar business as well and supply your products to supermarkets, schools and grocery stores or get salesmen to help you sell them at roadsides and in strategic selling places for a commission.
3. Metal scrap trading
This is a business that a lot of people would ignore due to its ‘messy’ nature but this messy business has turned a lot of Nigerians to millionaires.
It’s really simple, what needs to be done is to look for people who can go around to pick or buy metal scraps if you cannot do so yourself. Or you could set up a metal scrap depot where people can come and sell their metal scraps to you for a token. These scraps are usually bought by importers in China and other countries for production.
4. Livestock feed production
If you noticed, Nigerians have embraced agriculture these days like never before and livestock farming is becoming increasingly popular.
But like I always tell people, don’t do what everyone is doing.Instead you should look for how to provide what everyone is lacking. So instead of going into livestock farming, consider production of livestock feed that livestock farmers would use to feed their animals.
5. Mobile fruit juice bar
Nigerians have learnt to pay more attention to their health and eat right and at this time, nothing would sell better than natural fresh, fruit juice in a mobile cart which people can use to quench their thirst on a hot afternoon in place of soda.
6. Furniture making
You could also consider making furniture for home and office use. You don’t have to be a furniture maker yourself to start this business; you could employ good furniture makers who you would employ to make solid furniture for you and simply handle the marketing and promotion aspect of the business.
7. Mobile food vendor
You would agree with me that Nigerians don’t joke with the “stomach infrastructure”.This is why a mobile restaurant would be a great idea especially for the working class ones who barely have enough time to grab a bite before leaving their homes every morning.
8. Online tutoring
This is another business that is fast gaining a strong reputation in Nigeria. It involves training people on short courses, helping students with assignments and projects and basically imparting knowledge over the internet.
9. Fitness and beauty consultant
Call us vain but we are Nigerians and we love looking good. Ten years ago, this kind of business may not have made sense, as fitness was kind of an alien concept to Nigerians. But these days, just claim you have any product that would make people slimmer, lighter, have flat abs, pink lips, long hair, full lashes or enhance the body in anyway; you would have dozens of Nigerians swooning to you like bees do to honey.
10. Mini importation
Lastly, you can start a mini-importation business and start making money from importing items like laptops, phones, computer and electronic gadgets and accessories, clothes, shoes, jewelries and any other hot selling product in Nigeria.
With car apps like Uber and Taxify, it’s quite easy to start a taxi business even if it’s your personal car. You just need to get registered on any of these platforms and you’re good to go.
Busy professionals are often in a dilemma of where to put their kids when they are working. This is where a creche comes in. You can offer to provide this service for working class or busy mum. But you should make sure your creche is neat and well-furnished.
If you have a good grasp of some secondary school subjects, you can start a home tutoring service. There are many students that need assistance for their school work and this is where you can make some cool cash.
Phone sales and repair
Everybody uses a phone these days and at some point in their phone’s life cycle, they might need to get it repaired. You can start a mobile phone retail outlet along with a repair service