1. Alternative Power Sources
Electricity is one of the major problems in Nigeria that doesn’t seem like getting solved anytime soon. Basically, as a result, businesses centred around this generally perform well. Alternative power sources cover several energy supply equipment including inverters, windmills, solar energy, and generators. In addition, asides from the fact that you would need a substantial amount of capital, alternative power sources remain one of the best businesses to start in Nigeria.
2. Poultry farming
From the rearing of chickens to turkeys, geese, ducks, and more, poultry farming remains one of the best businesses in Nigeria. Basically, you can either rear these poultry animals and sell them off for their meat directly or sell their products like eggs. This sector is very lucrative and still boasts of a lot of potential for anyone looking to enter the market. However, just like every other business, it depends on how well you run it and if you can attract the right customers and investors.
3. Fruit juice production
Making juice sounds like a very simple and unprofitable business, but in reality, it isn’t. Basically, consider companies like Chi, which has been in the juice market for years and you’d see that it is really profitable. Starting your own juice-making company too would see you make a good amount of profits.
Also, when setting up your business location, consider closeness to fruit-abundant states like Benue which wastes a ton of fruits per year. Benue for one waste a lot of fruit due to extremely low demand. Therefore, you can purchase these fruits cheaply, establish good preservative strategies and make your own juice.
4. Plantain chips making
From market stores and shops to hawkers in traffic, there is a good reason why plantain chips seem to be everywhere; because it is profitable. Basically, everyone likes plantain and finds it easy to buy at any time of the day. Also, this business is easy to start and sell and requires little or no capital. Focus on starting small, and growing your customer database over time.
5. Importation of used clothes
As long as the poor exist in Nigeria, there would continue to be high demand for used clothes. Yes, we all want designers, but a majority of Nigerians can’t afford it. Therefore, this places a high demand on used clothes commonly referred to as “Okirika”. The juice in this business is in becoming a major supplier for Okirika markets. Although you may start small, the business is sure to grow over time as it caters to both the rich, the average class, and the poor in Nigeria.
6. Car wash
As long as people continue to drive on the extremely poor road conditions in Nigeria, car wash would remain a profitable business. Basically, what you need to get going is a shop and the necessary tools. Also, you can choose to run the business first-hand or simply hire attendants while you supervise. With the approximately high amount of cars, you do not really have to worry about competition and there is literally no cap on your income.
7. Setting up an eatery
The eatery is also one of the businesses that certainly thrives due to extremely high demand. Basically, we all need food and eat, and as long as there is a business to offer that, people would always patronize. However, getting started requires a good amount of capital since you need a nice place, cooking equipment, and staff.
8. Transportation business
Although jobs are moving more remote, transportation is a vital part of life that would always exist. From people to goods, the transportation business is very lucrative because you would be meeting a fundamental part of human lives and also businesses. Also, the extremely high demand means that the transportation business has space for as much competition as possible.
9. Cassava farming
Despite being regarded as the poor man’s food, “garri” and “fufu” appeals to all classes of individuals in Nigeria. Therefore, their source, cassava, is a very lucrative business to go into at the moment as it is in extremely high demand. Although it is very stressful and requires a lot of time, in the long run, its profits outweigh the work.
10. Fashion designer and tailoring
When it comes to fashion designing, how good you are determined to a large extent, how far you would go. Basically, this means that although the market looks saturated, skilled fashion designers would always get the best jobs. However, you have to start small and build a reputation, then climb to the top. It is as easy as applying for contracts to sew school uniforms for schools or party dresses for families.
11. Call centre agency
Customers are a very crucial part of any business and almost always have complaints, but sadly, businesses do not have the leisure to always pick up their calls. Basically, this is where you come in, as you can easily set up call center agencies and take customer calls on behalf of the organization. To minimize investment costs as much as possible, start small and then expand over time as you accumulate more clients.
12. Waste Management
At the moment, the Nigerian waste management system is nothing to write home about. In fact, this has led to a significant level of pollution in the Nation. As a business-oriented person, this is a great investment opportunity. This is because there are several things you can do with the waste. These wastes can be recycled into organic fertilizers that you can sell at a very good price to farmers. In fact, if you do not have the capacity to establish a recycling company you can leverage the abundance of recycling companies in Nigeria.
13. Animal Husbandry
This is one of the most lucrative businesses in Nigeria. Many people don’t seem to take the opportunity of this business idea because they think it is streamlined to the rearing of animals. This is a big misconception. Animal Husbandry is more than rearing animals. It goes a bit more to cover fishes, goats, cattle, etc. For you to start this business you will need enough space to house your animals, and most importantly capital to start the business. You can leverage lending platforms such as Loanspot to provide you with enough capital to fund this project.
14. Mobile Phone Repair
You will rightly agree that in this present time, there is virtually no one without a mobile phone, smart or not, almost everyone has a mobile device. And, since a mobile phone is an electrical and electronic device there are possibilities that it can run into a fault. This is a great business opportunity for you. You can venture into repairing these devices when they develop faults. All you need to start this business is small capital, training, and repair kit. Asides from this you also need great customer ethics.
15. Pure Water Business
Water they say is life. Although a free gift of nature, it is not readily available everywhere in its purest form. For this reason, people thrive to get the purest water they can lay their hands on. And as you will rightly agree, the production of water can never exceed the demand. What this translates to is that the business is a lucrative one. To start a business like this, you need enough capital, and one of the surest ways to get it is by leveraging lending platforms where you can get soft loans. These platforms will provide you with enough funds to execute the project.
16. Rental Services
The inhabitants of the Nation called Nigeria are social. There is hardly a weekend without a party (owambe). This is a great opportunity to invest in Rental services because people need sheds to protect themselves from the harsh weather conditions. In fact, you can also add cooking utensils and musical instruments to your services. However, it is important to know that for the continuity of this business, you need a level of maintenance.
17. Recharge Card and Data Sells
Just as with mobile phone repairs, recharge card and data is another lucrative business you can invest in. As we have earlier mentioned, at this present time hardly can you find someone without a mobile phone. To start this business you do not need huge capital, neither do you need training.
18. Catering Services
Nigerians are highly social. As we have mentioned before, hardly can you find a weekend without one party or the other. If you are good at cooking you can take up orders to make special delicacies for parties. In fact, if you are not excellent at cooking, you can leverage the plethora of video content on YouTube to develop your skills.
19. Laundry Business
Laundry business popularly known as dry cleaning is one of the most lucrative businesses in Nigeria. This is because Nigerians are so busy with the hustle to make money. Therefore, they need someone to do their laundry while away. To start this business, you do not need huge capital. All you need is a washing machine, good detergent, and a mobile phone for customers to reach you.
Pictures help preserve memories, and since memories is one of human’s best asset, photographers are in high demand. You can make enough money by taking pictures of people. This business does not require much. All you need for a start is a good camera, tripod stand, and good lighting. If you feel the capital requirements are overwhelming, you can look up platforms like loanspot.africa to pick a loan option tailored to meet your needs.
21. Liquid Soap Production
Liquid soap is one of the high-demand kitchen products. This is because of their ability to remove stains with no hassle. The cool thing is that you can leverage the high demand for your benefit. You can start producing liquid washing soap in small or large quantities. To start this business, you can take training on how to make liquid soap using YouTube videos, or register with a professional. After this, you can start producing. In addition to producing, you need to ensure that you are on top of your game when it comes to branding. This is to make your product stand out and appeal to your customers.
22. Ice Block Business
The erratic power supply and the harsh weather condition in Nigeria is the primary reason why this business is a hot cake. You sure make good money venturing into this business. All you need to start is an ice block-making machine and a good generating set to ice the water. In fact, you can do this right in your home without bothering yourself about renting a space. All you have to do is ensure that your publicity is top-notch.
23. Affiliate Marketing
Affiliate Marketing is the new oil well in Nigeria. Day by day, people make millions of Naira via several affiliate marketing programs. Basically, all you have to do is register with a company of choice, advertise and sell their products, and earn commission on your sales. You can leverage several channels such as YouTube, Twitter, blog, Instagram to advertise your product. To start earning you can join affiliate programs such as Amazon affiliate, Jumia Affiliate, Clickbank, Expertnaire, etc.
24. Graphics Designing
Some years back, this business was not in demand as it is now. At the moment, this is one of the most sought-after digital skills. The reason for this is not farfetched; it is because images and beautiful designs linger for long in the human memory. On this note, organizations are in massive demand for exceptional graphic designers. If you are talented at creating good images, and beautiful designs, then this is a business you can start. To start, you do not need much capital. All you need is a good Laptop, and design software.
25. Tutorial Business
If you are good at sharing knowledge, then you can look into the tutorial business. You can organize Math, English, and other subject tutorials to help students of primary and secondary schools. To start this business, you need capital, a chalkboard, and enough space to house the students. If all these are in place, this business is a great way to earn good returns.
26. Beauty Business
At the moment this is one of the in-demand businesses in Nigeria. This business is so lucrative that you can make as much as N100, 000 and more in a week doing makeup and selling beauty products to people. The reason for this is not far-fetched, Nigerians are social, and they want to look good to events. Therefore, they do not mind spending a fortune to look good. If you have a flair for beauty products and makeup, this business is a hot cake.
27. Gas shop
In Nigeria, the use of Kerosene as the main source of fuel for cooking is long gone. Almost everyone has a gas cooker now as compared to 10 years ago. For this reason, the demand for liquid gas has skyrocketed. You do not require much capital to start this business. In addition to capital, you need a good shop, gas cylinders, and some other items such as a fire extinguisher, hoses, and scales.
28. Freelance web development
Freelance web and app development is the in-thing at the moment. This is because a lot of businesses want to increase their customer reach. Therefore, they invest heavily in hiring developers that can design apps and websites to promote their products. With this business, you can earn good money, all at the comfort of your home. You can leverage freelance websites such as Fiverr, Upwork, etc.
29. Interior Decoration
Interior decoration is one of the new sought-after services. If you are exceptional in the art of home and interior decoration, you can take up projects to design commercial and residential buildings. This business has good returns and will yield high profits.
30. Event Planning
As we have stated earlier in this article, in Nigeria there is no weekend without one function or the other. The fortunate thing is that for these events to go on accordingly people need event planners. Therefore, you can seize this opportunity to venture into this business. You can improve your skills by attending different training.