Are you an in Nigerian living in Nigeria or a potential investor thinking of Investing in Nigeria; but don’t know where to start from or which business to invest your money into? We have compiled a growing list of lucrative business opportunities in Nigeria you can invest your money and be sure of making millions back in no time (if done properly).
- Poultry Farming: This business is making average Nigerians rich. It is so lucrative that even outsiders are coming in to invest in poultry farming the business in Nigeria. And why not, In a country of more than 150 million people, what would you expect? If you start with 1,000 birds and manage your poultry farm properly, when the turnover on investment begins to come, you will be making up to N30 million annually.
- Catfish Farming: The first of the fastest growing business opportunities in Nigeria is catfish farming. The primary reason I listed catfish farming as one of the fastest business opportunities in Nigeria is because it’s an emerging industry that hasn’t reached its peak or full potential. The major players in this business are usually regional players. What this means in essence is that each major player in the catfish farming industry is focused only on a particular business terrain within the geographical location of the farm.
So all you need to do is look for a region with a growing demand that haven’t been covered by a major player and situate your business there.
When accessing any of these business opportunities listed above, you must note three important facts. One, food is one of the basic necessities of man, thus making catfish, snail and poultry farming a huge potential. Two is that the population in Nigeria is estimated to be over 150 million and growing so that entails a growing demand for food. Three is that even if the local market with 150 million Nigerians gets saturated (which I strongly doubt as this niche is still in its adolescent phase), there’s still a growing demand for catfish all over the world. So do your own in-depth analysis and put your money to work.However, you are free to use our own analysis and research, you can read more on Setting up a Small Scale Broilers poultry farm and How to setup a fish pond on ediaro.com
- Cassava Production: People are beginning to turn their attention to this aspect of farming in Nigeria that have been neglected for years. Cassava derived foods are some of the most consumed in Nigeria. If you can invest in cultivating 50 – 100 Acre in a fertile area like Ondo State, your harvest will be great.
- Import Used Cloth: Tokunbo market in Nigeria is very big and many people prefer to buy used items that are high quality than buy fakes.The cost of buying and importing used cloths is low compared to the prices in the market here in Nigeria, guarantying good turn over on investment.
- Sewing of specialized uniforms: Another opportunity is to set up a small scale textile firm that will specialize in sewing uniforms. The demand for uniforms is on the increase in Nigeria; from the crèche to the labor market, uniforms are highly in demand but it’s advisable you do your own detailed research before venturing into the business.
- Inland water way transport: Inland water way transport is one of the fastest growing business opportunities in Nigeria. In fact, we believe the niche is still untapped because we are yet to see a modern commercial boat or ferry service system in Nigeria. Though there are a few operators in this industry; we are yet to see the modern facilities being used by the developed countries.
Another reason inland water way transport business proves viable is because population in states such as Lagos, Ogun state and Rivers is rapidly on the rise thereby resulting in the congestion of roads. Since the roads are becoming heavily congested; the next means of transportation the inhabitants of these heavily populated states will resort to is water transport. With proper planning, a good management team and adequate funding, you can break into this untapped industry and carve a niche for your business.
- Haulage and logistics: Haulage and logistics is another fastest growing business opportunity in Nigeria. Though it’s considered a risky business; you can breakthrough if you have a strategic business management team on ground. Good management is the key to surviving in the business of haulage and logistics.
- Outsourced bus service: This is similar to haulage and logistics but the cargo in this case is humans. we are not talking about the regular road transport bus service; in fact, we don’t think we have seen the idea for this business been utilized yet.
Now in this case, you are providing transportation services to firms and corporate entities. 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.
- Information and Communication Technology: When it comes to ICT, we will be right to say Nigeria is lagging behind when compared to the western world. It may sound like bad news to you but to entrepreneurs and investors, it is good news. ICT is still an emerging trend that hasn’t reached its peak so a lot of opportunities exist for both local and foreign investors. We won’t go into the capital intensive business opportunities that exist in the ICT sector; rather, we will stick with small and medium scale business opportunities, such as:
a. Cyber Café
The demand to stay connected to the rest of the world is rapidly on the increase and the cost of internet connection is still on the high side when compared to what is obtainable in the western world, thereby making cyber café an alternative for internet users; and an investment opportunity for entrepreneurs. This business can be started either on a small, medium or large scale but I will prefer a large scale because size can be a competitive edge for you in this business as customers won’t like to be kept waiting.
Customers of this industry want speed and efficient service and most importantly; they want to be sure to find a vacant computer system anytime they want to surf the web without having to wait in line. If you can get a good location; provide speedy internet access and provide complementary services; you are in for a breakthrough.
Just as the world is going e-crazy; so also is Nigeria catching up with the trend. E-services provision is still a virgin business opportunity that hasn’t fully been tapped. Under the umbrella of providing e-services; you can find the following fast growing business opportunities: E-payment, Bulk Sms services, Website Design and and hosting, database management services, e-portal management, etc.
- Sale of Furniture: Buying and selling of Locally make furniture is a goldmine. You don’t need to be a carpenter to do this, just arrange for regular supply from reliable Carpenters while you display and sale in your showroom. It is a very big business in Nigeria as only few can afford the imported designers.
- Snail Rearing: Snail farming is one of the choice Animal farming for many reasons. It is a low capital investment with high yield and the market is big. There are few people currently doing this – and most of them are doing it in a very low scale. If someone invest heavily in Snail farming, he is sure to make good money in Millions within a year.
- 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 are unable to meet up the demand due to poor funding and limited knowledge. Anyone who have a million dollar to invest should get in touch and partner with me with 100% return. $1,000,000 = $2,000,000 guaranteed
- Making of Fruit Juice: Nigerians drink fruit juice more than any other people. That’s why 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 well worth it.
- Pure Water Production: You know how popular this is in Nigeria and how many that are dispensed daily. Though this business is capital intensive but well worth investing into, especially if you can manage it properly with professionalism.
- Oil and Gas Business: We are blessed and cursed with huge deposit of oil in our land 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 the areas you can invest easily and make good money for yourself.
- Haulage Services: The cost of taking a truck from one place to the other in Nigeria is between N20,000 to N200,000 per trip. Due to poor rail transport system, most of the Nigerian goods are transported through the road, making haulage business in Nigeria a viable one.
- Hotel Business:This is probably the coolest money making opportunity in Nigeria. Invest in small scale hotel of just 10 suites and watch as the money flows in. This has nothing to do with tourism boom of any kind; there is just something in Nigerians system that make this business very lucrative – Nigerians are jolly people!
- Fast Food Eatery: Eatery business is another goldmine though poor management can kill it death! 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.
- Importation of Tokunbo Spare Parts: If you are in USA, this business is good for you. Don’t just keep importing exotic cars, gather tokunbo spare parts in containers and ship down here. There is huge market for it in Nigeria.
- Investing in Property: Property appreciate everyday 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, you are sure to make 100% profit within two years. You can buy and quickly resell and make profit. Or you buy keep and sell later.
- 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 a money maker if you balance it up.
- 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. You.
- 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 and I can count some guys who are making millions almost daily in this business.
- Transport Business: What we have in this sector are transport companies that are badly managed by local chiefs and touts. Invest in this business with good management and you will be wondering what hits you with bags of money.
- Nursery and Primary School: School business has no rival among it’s mate. My little kids school fees take away close to a million naira per term just to learn ABC!
- Investing in Internet Companies: This is a new crop of powerful investment opportunity that is creating Billionaires around the world including Nigeria. It’s simple! You don’t have to be a Tech person, all you need is to look for creative online startups with good ideas and invest in. Within 1 to 2 years you will be counting your profits in dollars.