Is it accurate to say that you are considering Investing in Nigeria but don’t know where to start or which business to put your money into? Here are top 20 most profitable business ideas in Nigeria you can put your money into and start making millions in the blink of an eye.
This list of business ideas in Nigeria is not just randomly chosen nonsense businesses, they are carefully selected, a few from small business idea magazines. The business ideas are highly lucrative businesses you can count on. They are up to date and among the profitable business ideas in 2015.
1. Poultry Farming – This business is making normal Nigerians rich. It is lucrative to the point that even foreigners are coming to put resources into poultry farming business in Nigeria. What’s more, why not, in a country of more than 150 million people, what can you expect? If you can open the business with 1,000 chicks and manage your poultry farm properly when the revenue starts to come in, you will be making up to N30 million every year.
2. Cassava Production – People are starting to turn their regard to this part of farming in Nigeria that has been ignored for many years. Cassava derived food are probably the most consumed food in Nigeria. On the other hand, if that you can put resources into developing 50 – 100 Acre of land in a ripe area like Ondo State, your harvest will be fertile at the end and, of course, bring in surprising income.
3. Import Used Cloth – Tokunbo market in Nigeria is huge and many people like to purchase used things that are high caliber than buying fakes. The expense of purchasing and importing used materials is low compared to the costs in the business sector here in Nigeria, definitely high turn-over for your money.
4. Sell Furniture – Buying and selling of locally made furniture is a moneymaker. You don’t have to be a carpenter to do this, simply know the standard technique in selling it and call for supply from dependable Carpenters while you show up and sell in your showroom. It is a major business in Nigeria as no one, but few can tolerate the cost of the foreign-made furniture.
5. Snail Rearing – Snail rearing is one of the choices animal farmers cherish for some reasons. It is a low capital business with high return and the business is huge. There are few people right now doing this – and a large portion of them are doing it in a low scale. If someone puts an intense effort in snail farming, the person is certain to earn a substantial amount of money in Millions within a year.
6. Rice Farming – Rice remains the most consumed food in Nigeria and Billions of dollars goes into importation of this item yearly from China and Thailand on the grounds that the local agriculturist are not able to take care of the demand because of poor financing and constrained information. Anyone who has a million dollar to put into this small business should be ready to receive a return of 100% at the end.
7. Beverage Drink Factory – Nigerians drink fruit juices more than the westerners, simply because everyone is scared of getting fat. That is the reason businesses like La Carcella and Chivita who came into the business not long ago are making billions of Naira every year. This business requires huge capital to start, but if you can afford the cost, it’s a unique business idea, despite all the trouble.
8. Pure Water Business – You know how prominent this is in Nigeria and what number of that are consumed daily in Nigeria. Despite the fact that this business is capital intensive but well worth putting your money, particularly if you can supervise it regularly with refined skills. Pure water is a profitable business idea in Nigeria.
9. Oil and Gas Business – Nigeria is blessed and honored with a huge deposit of oil in our land which shows a portion of the finest business open door for Nigerians and Foreigners throughout the years. Owning a Petrol Filling Station, Supplying of Diesel, and distribution of Kerosene are some of the areas you can contribute effectively and take in substantial income for yourself.
10. Haulage Services – The expense of taking a truck from one spot to another in Nigeria is between N20, 000 to N200, 000 per trip. Because of the poor rail transport system, the majority of the Nigerian products are transported through the street, making haulage business in Nigeria a feasible one.
11. Hotel Business – This is likely the coolest money making business opportunity in Nigeria. Invest in a small scale hotel of about 12 suites and watch as the money flow in. This has nothing to do with tourism report of any sort; there is simply something in Nigerian system that makes this business extremely lucrative – Nigerians are cheerful folks!
12. Fast Food restaurant – Restaurant business is another profitable idea, however, poor management can kill it to downfall! In case, you wish to go into this business, make sure to get everything right and bear in mind that the capital to start are intensive and require good management skills. Remember that as it may, if you make it right, you’ll make a living from this type of entrepreneurial opportunity.
13. Import Tokunbo Spare Parts – If you are in USA, this business is beneficial for you. Don’t simply continue importing exotic cars, put together fairly used spare parts in containers and ship down to Nigeria. It’s a good business to start in Nigeria.
14. Invest in Landed Property – Property appreciates every day in Nigeria. At this moment, Nigeria is one of the countries on the globe where landed property is generally a lucrative business. If you buy a piece of land anywhere in Lagos, you are sure to make 100% gain in two years. You can buy and resell quickly and make a profit. You can buy now and resell later.
15. Cleaning – Professional cleaners at affordable rates are uncommon in Nigeria. What we have been professional Dry Cleaners whose service fees are too high or ordinary dry cleaners who can never keep up with time. Give them clothes today and come next week to meet them unwashed. This business is a cash producer if you can make it work and able to adjust it.
16. Start Car Wash Business – This business is great and among the successful business ideas you can set it up in strategic areas like Lagos and Abuja where you have a great number of cars.
17. Building Materials – The rate at which new houses are popping up in Nigeria surprises me every day and you get the chance to ask why many people still grumble of building issue. Investing your money into building material is a decent business and I can give you the names of those that I know who are making millions daily in this business niche.
18. Transport Business – What we have in this sector are transport companies that are solemnly managed by area boys and touts. If you put your money into this business with good management and you will be glad you did and definitely walking out of the bank every day
19. Nursery and Primary School – School business has no competitor among the industries operating in this type of business ideas. Most parents I know roughly spend a million Naira for school fees each term just to learn ABC!
20. Invest in Online Business – This is another business idea that any talented kid can grab the opportunity that is creating millionaires around the world including Nigeria. It’s basic! You don’t need to be a Tech man, all you need is to search for an existing online tech startup with smart ideas and invest in. In 1 to 2 years, you will be counting your turn-over in millions.
In conclusion, our number one goal has been to share business ideas openly and urge people in Nigeria to start a business they could call their own. These innovative business ideas provided above were intended for folks who know how to make use of business opportunities. Rather than letting the money sits in the bank to no returns. I hope these top 20 profitable business ideas can help you take advantage of riches and make 100% profit on your money.
Let’s know what you think about the list and don’t forget to share this article on Facebook, Twitter and Google+