Having the capital to start a business does not automatically translate to success or guarantee an entrepreneur utmost profit. If an entrepreneur fails to have a solid business idea in order to make profit from it, then we can safely say that the entrepreneur is heading towards doom. Fortunately, there is plethora of lucrative business ideas and opportunities in Nigeria but they sometimes serve as a bottleneck to many.
We cannot deny the fact that there are business ideas and opportunities that abound all over Nigeria. To get the right and lucrative business ideas do serve as a delay in progress for many entrepreneurs and those who intend to invest in business opportunities in Nigeria.
Well, we have meticulously selected the most lucrative business ideas and opportunities in Nigeria because they have been tested and trusted by many entrepreneurs.
Thus, you can simply invest in these business ideas and opportunities in Nigeria and start to make a whole lot of profit and even strategically leverage your business to the world.
Why you should start a business in Nigeria
Business in Nigeria is not a tea party likewise all over the world. Things are not that rosy for would be investors and entrepreneurs, but there is this special spirit attached to investing your capital in business in Nigeria that makes present entrepreneurs have massive return on investment.
Granted that the economy of the country is not buoyant as expected of our acclaimed giant of Africa, but there are many individuals and entrepreneurs who have dared to take the risk and weather the storm in face of adversity and feasible and visible risk.
Foreigners who have the ultimate resolve to invest in Nigeria have no doubt seen the avalanche opportunities in the country and as such seen Nigeria as the home of investment. Entrepreneurs from South Africa, Lebanon, India, China et al have always been in the forefront of making a lot of money by going for lucrative business ideas and opportunities in Nigeria.
Therefore, it is expedient for Nigerians who are home and abroad to see the positive investment into the future by investing in the country and show the world that there are countless lucrative business ideas and opportunities in Nigeria.
Below are the aplenty lucrative business ideas and opportunities in Nigeria which are feasible for you to invest in.
There is no doubt that the agricultural sector in Nigeria is fast becoming the home to many investors and entrepreneurs. Over the years, many investors have neglected this sector thinking it was meant for the indigent ones.
Today, agriculture is creating millions of entrepreneurs and waking up the eyes of those who did not see the obvious future in agriculture. Millions of Nigerians (both in Nigeria and in diaspora), and foreigners are now swiftly investing in agricultural business. Millions of youths are gainfully employed in agriculture.
Let us not dilly-dally and get straight to some of the most lucrative agricultural business ideas and opportunities in Nigeria and make a whole lot of profit.
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Poultry Farming: Poultry farming is one of the many business ideas in Nigeria that is really lucrative and entrepreneurs are really investing in it. The demand for poultry is high as many foreigners are making a whole lot of money in the business. Nigeria is a country of more than 150 million people and you can imagine the numbers of people demanding for and eating poultry meat. If you can manage your poultry well by buying a land and invest up to a thousand birds, package and sell frozen meat and get a market for it, you can be rest assured that your return on investment will begin to come in and thus make millions annually.
– Snail Rearing: Till this moment, the market for snail farming or rearing is still low but the good news is that it seems to be a business idea that has a low capital investment. It also looks like there are not many people into snail rearing. Thus, if you can invest heavily in it, you will surely get millions within in a year.
– Cassava Production: Cassava production is seemed to be one of the aspects of farming that many have abandoned. Now, many are paying rapt attention to the business. As an entrepreneur or investor, if you can get up to 50 or 100 acres and where the fertility rate is high, you can surely get handsome and awesome harvest.
– Rice Farming: Rice farming is no doubt highly consumed in Nigeria. The opportunity in this business is that billions of dollars are spent on the importation of rice alone. Rice is being imported from China and Thailand due to unavailability of fund and dearth of knowledge in Nigeria. Local rice need to be made, though capital intensive. If you can invest heavily in this type of business, you will surely be like a Midas touch among men.
2. Sale of furniture
You don’t need to be an adept in upholstery or an expert in carpentry, what you just need to do is to partner or have a team of carpenters who will do the design of furniture for you and you display it in a showroom. You can also buy and sell locally. It is a business that is yet to be fully exploited by many in Nigeria.
3. Pure water production
This business might be capital intensive but it is worth the salt. Nigerians daily drink or consume a lot of water and don’t forget the idiom that says that “Water has no enemy”. If you can get the right team with great professionalism and market for it, you are good to go.
4. Hotel Business
One of the coolest cum finest means of making money is through hotel business. In Nigeria today, hotel business is one that keeps growing and growing without stop. Nigerians do love to enjoy themselves after the day’s work and over the weekend as well by relaxing in a kind of joint or club. It is not tourism albeit but Nigerians are highly sociable and gregarious. Making money from hotel is highly and always lucrative.
5. Oil and Gas business
This is a sector you can make a lot of money from owning a petrol filling station, supplying of diesel, and distribution of Kerosene. This business has over the years created a lot of millionaires and billionaires in Nigeria. Nigeria is blessed with crude oil and it is still a business that many venture into even though there is drop in the rate of demand of petroleum over the globe.
6. Importation of Tokunbo Spare Parts
This importation of Tokunbo spare parts business is highly lucrative in Nigeria. Those who reside in or have been in advanced countries know better. You can ship Tokunbo spare parts down to Nigeria from USA, Germany or Denmark. It already has a huge market in Nigeria.
7. Fashion Business
All thanks to the renaissance in the entertainment world. Nigerians love fashion and love to look good. Who doesn’t love to look good after all? The fashion world has metamorphosed a lot; we daily have stumble upon news of millionaires in the fashion business. If you have solid capital, you can simply go for this and study the trends in order to be on top and stay on top.
8. Transport Business
Transport business is a really lucrative business in Nigeria. This sector always produces millionaires in Nigeria virtually every year. When you invest in good management and right equipment, you are good to see load of money hitting and flowing into your account.
9. Fast food eatery
Fast food eatery is a treasure-trove and it is worth the capital. Even though it is capital intensive, when you have the right management and professionalism in place, you are good to go. Return on investment in this business is superb!
10. Property investment
There is no iota of doubt in this kind of business most especially in Nigeria that property appreciates every now and then. If you invest in property business by buying lands and reselling them, you will be swimming in the pool of money. In Nigeria, if you buy lands in places like Abuja and Lagos, just be rest assured that in the next few years, the lands will appreciate beyond your imagination. Just buy, keep and resell in the future.
We have succinctly highlighted some major lucrative business ideas and opportunities in Nigeria. There are many others too you can explore and we want to implore you as well, such as professional dry cleaning, professional car wash, sales of building materials, online advertising agency, Nursery and primary school, media and show biz among others which you can go for.
It only behoves you to discover the one that will best work for you in consideration with capital, management, leadership, marketing strategy and the ultimate level of profit. Entrepreneurs and investors always dare to take the risk and show the world what they are made up of. Like the inimitable, able, reliable and evergreen words of one of the greatest boxers, Muhammad Ali once said that, “He who is not courageous enough to take risk will accomplish nothing in life.” Dare and make the world bow to your feet.