Top 20 Highly Lucrative Businesses in Nigeria – It is important that as a Nigerian who wish to develop any business in the country should have a fore knowledge of the kinds of businesses already in existence I the country and the also know the ones that are lucrative enough so as to channel your capital to the right place.
On this note, Recruitment Gist has put together a list of Top 20 Highly Lucrative Businesses in Nigeria. Kindly read through this post to get the full information you seek for here so as to enable you start up a business of your own. Now let’s get down to business.
Top 20 Highly Lucrative Businesses in Nigeria
Here is a compilation of top 20 highly lucrative business in Nigeria. Are willing to start a business of your own and do not have an idea on what to do? Read this article because it will guide you on how to start up a business in Nigeria.
1. Agriculture Business
This is an industry that has impacted the lives of many Nigerians. Lots of people in Nigeria have become employers of labour through this business. Unlike before, Agriculture business was seen as a local business, but now, the reverse is the case. The amazing thing in this kind of business is that it is diversified into many branches like: Poultry Farming, Fishing, Cattles rearing, Rice Farming, Yam farming, livestock farming, and lots more.
2. 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. Petroleum products haulage and movement of goods from manufacturers and importers are the aspect of haulage in Nigeria that is very lucrative now.
3. Sale of Furniture
The buying and selling of furniture (locally made) is a good business to venture in. it is not necessary you will be a carpenter before going into the business. All you need to do is have knowledge of the business and you are good to go.
4. Fruit Juice production
An average Nigerian drink juice on daily bases, during ceremonies, occasions, etc. fruit juice as we all know is highly consumed in the country. Companies like Chivita and La Carcella is making billions of naira through fruit juice production. Although fruit juice production is capital intensive, but the profit it will yield worth it.
5. Sachet Water production (Pure water)
Everyone know how popular sachet water otherwise called pure water is in the country and its consuming value. If you can do the business, it’s not a bad idea.
6. Oil and Gas Business
Nigeria is blessed with deposit of crude oil in our land and presently the highly paid business in Nigeria. Opening a filling station, distribution of kerosene, and supplying of Diesel are some of the areas you can invest in Oil and Gas business in Nigeria and make cool money for yourself.
7. 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 as Nigerians love showing off themselves.
8. Fast Food Eatery
Eatery business is another hotcake though poor management can kill. 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.
9. Importation of used Spare Parts (Tokunbo)
If you are in USA, Germany, or Denmark, this business is especially good for you. Don’t just keep importing exotic cars, gather used spare parts in containers and ship it down to Nigeria and make cool money from it.
10. Investing in Property
Currently, Nigeria is one the countries in the world where landed property is most expensive. If you buy land 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.
11. Dry Cleaning Business
Professional dry cleaners at affordable prices are rear 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.
12. Professional Car Wash
This business is good if you can set it up in a strategic location where there are good number of cars.
13. 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 in Nigeria due to the high rate at which houses are built.
14. Transportation Business
What we have in this sector of the economy is transport companies badly managed by local chiefs and touts. Invest in this business with good management and mindset, and you will be wondering what hits you with bags of money.
15. Nursery and Primary School
School business has no rival among it’s mate. Little kids’ school fees takes huge sum of money per term just to learn ABC. School business in any level is a serious business in Nigeria that generate millions of naira.
16. Exporting Of Raw Materials
There is no better way to grow the economy than to exporting some of the raw materials that are abundant in the country.
17. Online Advertising Agency
As the Nigeria’s online presence keeps increasing, so is its advertisers. Thousands of businesses in Nigeria are taking their business online to leverage the massive community of Nigerian internet users and market their products. This influx has created another business opportunity in Nigeria for savvy digital marketing experts. You too can setup your own online advertising agency in Nigeria today and make millions.
18. Fashion Business
Nigerian people are probably some of the trendiest people in the world. Fashion designers are becoming millionaires on daily basis in Nigeria, thanks to the revolution in the Nigerian fashion business due to the boom in the entertainment industry in Nigeria.
19. Media and Showbiz
Do you know Nigeria is seen as the capital of entertainment in Africa and also the highest consumers of media content in Africa? Now you can see how viable and lucrative media and showbiz can be in Nigeria.
20. Investing In Internet Companies
This is a new crop of investment opportunity that is creating Billionaires around the world including Nigeria. It is simple. You don’t have to be a Tech guru, look for a creative online tech, startup with good ideas and invest. Within 1 to 2 years you will be counting your profits in millions.
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