Lucrative Small Business Ideas and Opportunities In Nigeria
The truth is that several lucrative business ideas in Nigeria exist ranging from agricultural business ideas to real estate investment opportunities which are unarguably on the top of the the list of thriving businesses considering today's economy. Do you want to start a lucrative business with small capital?
Then you should look through my list of farming business opportunities. You don't need to worry yourself about the issue of huge capital startup as there are many small business with low capital to start that available for investment.
GUIDE: How To Find Hot Business Opportunities in Nigeria
So what business can I start in Nigeria? - List Of Business Ideas To Start In Nigeria
Just read on as I take you through some of the good businesses to get into and investment opportunities available to us as Nigerians as well as their peculiar challenges.
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What type of business can i do in Nigeria?
The reason why citizens of other countries still come here not minding the our security climate and myriads of challenges and problems associated with small scale business in Nigeria today. It is because lots of these foreigners can see what we are blind to - list of fast growing businesses.
Many Nigerians are blind to the fact that every challenge around them provide an avenue to generate lucrative small scale business opportunities for investment. Your capacity to provide solutions to public problems especially in a developing country like ours is a key into financial breakthrough.
After checking round, coupled with my experience as a business consultant over the years, I have finally compiled some of the most lucrative investment opportunities open to us as citizens of Nigeria.
List of Top Ten Money Making Businesses and Ideas to Start in the East, South East, South South, South West, North - For Men, Women, Youth, Children and Students in Nigeria
Here is a list of States and Cities in Nigeria that you can start a business in:
Plateau, Awka, Ekiti, Akure, Damaturu, Osun, Jigawa , Port Harcourt, Yenagoa, Makurdi, Oshogbo, Federal Capital Territory, Rivers, Edo, Enugu, Ikeja, Ado-Ekiti, Minna, Gombe, Kano, Sokoto, Ilorin, Akwa Ibom, Benin City, Adamawa, Lokoja, Zamfara, Yobe, Calabar, Taraba, Delta, Oyo,Abia, Dutse, Imo, Bayelsa, Gusau, Abuja, Katsina, Owerri, Ibadan, Abeokuta, Ondo, Birnin Kebbi, Yola, Bauchi, Ebonyi, Ogun, Nasarawa, Bauchi, Maiduguri, Cross River, Uyo, Niger, Kaduna, Umuahia, Borno, Lagos, Anambra, Kwara, Abakaliki, Kebbi, Kogi, Lafia, Jos, Asaba, Benue, Jalingo,
Below is an updated list of profitable small businesses anyone can start.
Best 10 Lucrative Business Opportunities In Nigeria
1. ==> Providing Security: Setting up a security firm is a profitable business. As Nigerians, we have come to conclude that everyone should be responsible for the preservation of his life and property so it is not surprising to see people set up security outfits which supply security personnel to man estates, as bodyguards for wealthy individuals, security guards for banks and big companies as well as providing security during event is a lucrative business idea.
2. ==> Sales Of Steel Rods, Cement And Other Building Materials: Buying and selling cement and other building materials in Nigeria ranging from tiles, WC bowls, roofing sheets, metal doors, re-reinforcements, asbestos among others is a very lucrative investment if you look at the number of new building projects going on across the country on a daily basis.
I have two colleagues who are constantly making millions from this profitable enterprise. You can't talk about When you thriving businesses in this economy without making any reference to the booming business of buying and selling building materials.
Read: How To Start Cement Business
Also Check: List of Building Materials And Current Price Quotes
3. ==> Real Estate Business: One way to become rich in Nigeria within a very short time is to go into the business of landed and housing properties. This lucrative business of buying and selling landed and housing properties is a money spinner I will always recommend to people who have the capital but are confused about the best business to invest.
A lot of people just stock up money in different accounts without any concrete move towards entrepreneurship. Real estate investment is capital intensive but you can go into partnership with other investors to build low and high cost accommodation units, student hostels, hotels, shopping malls and event centre is one of the easiest way to make it big from one of man's basic need, 'shelter'
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4. ==> Restaurant Business: Canteen business is another hot business that moves fast right now. This good business is one that makes a lot of money on a daily business considering the fact that food is not a luxury. If you can get your business location right, and you are equipped with the necessary skills, you will generate lots of wealth from this hot business idea.
Another: Palm Oil Business: Start Buying, Selling And Processing Red Oil
5. ==> Internet Business: Many Nigerians, even students make millions monthly off the internet legitimately. Talk of prominent bloggers like Abe of PracticalBusinessIdeas and Linda of LindaIkeji as well as big online stores like Konga and Jumia. Online Business is unarguable one of the most profitable small scale business in Nigeria with low capital today that Nigerian students and youth make money with.
Tapping into the huge population which is one of the Nigeria's asset, a lot of web entrepreneurs make cool dollars offering services affiliate marketing, information marketing, Bulk SMS services, payment exchange, web design and development, SEO etc.
More Tutorial: 10 Powerful Secrets Of Successful Bloggers Exposed!
Read: Top Secrets Behind Linda Ikeji's Millions In Blogging Business
6. ==> Small Scale Production: Another powerful item on this list of hot business ideas is cosmetics and fashion accessories production. After a fruitless search for job, many graduates have discovered solid wealth in the production of toothpick, chalk, candle, soap, shampoo, paint, air freshener, bleach, insecticide and other household items.
It is worthy to note that although you can start the manufacture of some of these products with as little capital as N5000, your success hangs on how effective your packaging and marketing is. This is one of the thriving home businesses in Nigeria for now.
7. ==> Livestock Farming: Raising livestock for money is a sure floodgate to riches. Poultry farming and fish farming business top the list of these profitable business venture. This is due to the recent ban by the Nigerian government on the importation of frozen fish and poultry products consequently making supply unable to meet the demand.
Piggery, goat farming, rabbit farming, snail farming, cattle farming, grasscutter farming are other areas of this lucrative business idea you can invest in.
Hot: How To Start Fish Farming
See This!: How To Start Poultry Farming
8. ==> Recruitment Firm: With currently over five million unemployed youth and the teeming population of new graduates joining them year in year out, most companies have resorted to contracting out their recruitment process.
Many of them are not ready to go through the stress of recruitment exercise, neither are they interested in recruiting permanent staff. This has made supplying contract staff to these companies a lucrative investment as you can also provide CV rewriting and staff training services.
See This: How To Quit Your Job And Start Your Own Business
9. ==> Transport And Haulage Business: For people who have time on their hands to manage this business, transportation business is one of the most lucrative business. Whether inter or intra-state, transportation business is one of the most profitable business to start. You'll discover that most investors recover recover their initial capital within a few months.
Getting sound, fuel-efficient vehicles and reliable drivers is key to the success of haulage business. Although it is management-intensive, haulage of goods and petroleum business is a good investment idea. What some people do is buy a sound truck and contract it out to a haulage and logistics company for weekly or monthly returns.
Read This: How to Start Haulage Business
10. ==> Plantation Farming: Plantation farming is definitely one of the best small scale business opportunities because of the steady source of income that it gives most farmers. Today, there are several money-making cash crops that you can plant and sell of the products on a yearly basis for huge returns.
If you are thinking of starting a plantation farm, you'll need to buy a farmland that is accessible and start the cultivation of plantain, cocoa, cassava, oil palm, kolanut and other crops.
BONUS INVESTMENT IDEAS
Spare Parts Importation: With the right connection, one of the best businesses to start in Nigeria is bringing in cars and spare parts in containers. The quality of Nigerian roads and poor maintenance culture ensure that your business keeps moving as a lot of people have reasons to replace a bad part in their vehicle periodically. Note that dollar exchange rates can affect this business.
Start a Private School: Setting up premium, high grade nursery and primary schools is another profitable business ideas. A lot of people find it comfortable sending their wards to privately owned primary and secondary schools as opposed to Nigerian government schools for obvious reasons.
Dry Cleaning Business: If you live in an elite environment, you can start a dry cleaning business. Try to keep your rate on the low side and sure that the quality of your work is superb and you will have reasons to smile to the bank every week.
Sales of Kerosene: Are you looking for lucrative business ideas with low investment? One way to make cool money in oil and gas is to go into the business of retailing kerosene. The consistent power issues in the country and across Africa made this item a must for many homes, thereby turning Kerosene suppliers that play their cards right into millionaires.
Importation of Secondhand (Okrika) Shoes and Bags: Dear, this is Nigeria where there is a popular belief that used materials last longer than new ones. Besides, the economic climate forces people to patronize the cheapest options for their basic amenities.
Although government policy does not favour most importation businesses any longer, you are sure of recouping your investment from this fast growing business within a short time. Sales of okrika wears is a lucrative business in Nigeria with small capital.
Car Wash Business: Location is key to the success of this thriving business. If you can get a place in your town that is conspicuous and usually busy, it is a good site for starting a car wash. Care wash is one of the businesses with high returns. You can start adding other ventures to this simple viable business as it expands.
Sachet Water Production and Distribution: Do you have a good sized capital? You can go into these hot business ideas during recession by producing pure water and marketing it it by setting up a manufacturing plant. The major challenge is getting your marketing right, reducing cost of power and ensuring that quality does not diminish over time.
Another low investment side to this business is selling the bags and sachets directly to consumers. Retailing pure water is one low cost business to start with 10000 Naira.
This compilation is a list of small scale business in Nigeria that will help stimulate your entrepreneurial spirit. Well, I'm not trying to force on your the best business to do, but rather providing as many options of viable businesses as possible for you to choose from.
If you are already in any of these investment ideas or making plans at starting one, why don't you share your views or ask a question using the comment box below?
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