Most Lucrative Business In Nigeria – Nigeria is one of the fastest growing economies in Africa. However, the country is plagued by numerous problems, one of which is rampant unemployment. This has spurred countless people into self-employment in the form of large-scale business ventures. As in many other countries, some businesses perform better than others due to various factors. What are the most popular business ideas in Nigeria today?
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Most Lucrative Business In Nigeria
Whether you are looking for a full-time self-employed business or a small business in Nigeria to work part-time, there are plenty of businesses you can’t go wrong with.
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One of the fast business opportunities in Nigeria is livestock farming. However, this industry has not yet reached its full potential.
For this case, you will need a little patience and knowledge and enlist the services of a livestock specialist. Some of the niche areas you can venture into include catfish farming, poultry farming, cattle herding, goat farming, and snail farming.
It may not be a completely new idea, but blogging in Nigeria is not commercialized enough, as is the case in more developed countries. With the right implementation, blogging can easily become one of the most profitable online businesses thanks to its numerous monetization options.
Becoming a blogger can be a good source of income from the comfort of your home. All you have to do is find a niche and target the right audience.
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Nigeria has a remarkably dynamic agricultural sector. You can start your own export business if you register with the Nigerian Export Promotion Board and decide on the specific product you want to export. Some of the products that are in high demand abroad include cassava flakes, cocoa, yam flour, peanuts, chili peppers, cashews, mangoes and many more.
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Health is something that most people don’t take for granted these days. As a result, you can make money if you can turn health and fitness into a business. There are not many well-equipped gyms, especially in small towns.
If you can get some capital, build a state of the art gym and your business will be a success story in no time. However, you will have or hire someone who has the necessary skills to train people.
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Are you looking for a profitable business in Nigeria? Then you should consider going into the mining industry. Nigeria is endowed with numerous minerals. Some of the common ones include coal, iron ore, limestone, bitumen, and others. Nigeria’s mining sector is constantly growing, paving the way for new investment.
If you have access to significant capital investment, a skilled and knowledgeable team, and a ready market, you can venture into this lucrative industry.
The oil and gas sectors are important in Nigeria. Most of the country’s magnates are somehow involved in this sector. While it can be quite lucrative, the oil industry is also quite expensive. If you have enough capital to open a private oil refinery, you will benefit greatly from numerous government subsidies and other monetary incentives.
You probably spend a lot of time on Twitter, Instagram, Facebook and other social networks. However, you may not know that you can earn by connecting with your friends and fans online. Monetize your social media accounts by making them a platform for others to advertise your products. For example, if you have a lot of followers on Facebook or YouTube, you can learn how to enable ads and get paid per view.
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If your hobby is sewing or textiles and you don’t mind making a living from it, then you should probably try your hand at a uniform tailoring business. There are many schools in every state and they all need uniforms for their students. This high demand makes uniform tailoring one of the best small business ideas in Nigeria.
In addition, there are also many corporate organizations whose employees also wear uniforms, such as security personnel. After setting up a business, you can promote your enterprise and make good money from this business.
Great writing is currently in high demand across various sectors. To get started, you can look for freelancing opportunities online or write for a company that takes orders from clients. The benefits of this job are countless, chief among them being the freedom to work from anywhere.
Later, as your business grows, you can hire other writers and start your own small freelance company. If you are good with words and can come up with engaging content, this is one of the best businesses you can try.
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An accounting or bookkeeping startup is one of the best business ideas in Nigeria for those who have the skills of course. But first, you must become an accredited accountant and earn the necessary conditions to work effectively with clients.
The call center business has become quite popular nowadays. There are many people who need help, guidance, advice, or want to complain about services or products. Thus, you can create a call center / agency and work for large companies under contracts.
Nigeria is suffering from mass unemployment, millions of people are desperately looking for work. You by creating a recruitment agency that will connect job seekers with available opportunities. All you need to do is partner with various companies and individuals who want to hire people.
Your recruitment agency can grow and expand over time, depending on how well you understand the job market.
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In the recent past, Nigeria’s beauty industry has undergone a massive transformation due to the increasing demand for beauty products and services. And this is a good business opportunity for you to seize. If you open a beauty salon or barber/beauty/spa and offer great services, you might just get a lot of clients.
Clothing is one of the basic human needs. This explains the ever-increasing demand for clothing in Nigeria and elsewhere in the world. Today there is still a market for clothes, especially fashionable and inexpensive ones.
You can import clothes from different countries including China, India, France, Italy, UK, USA, etc.
Due to the busy schedule that is synonymous with modern life, people need to take care of their children during the day. Many people are wary of housekeepers, knowing that sometimes they can mistreat children in the absence of parents. An alternative is to take the children to kindergarten when they are away. You can start a business in a small rented room or even in your own guest room.
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Are you experienced in a certain area and feel like you can help other people develop their skills? Then you should think about the business of a personal trainer. For example, millions of Nigerians take various academic tests and exams every year and they need someone to help them prepare.
Another example is the large number of people who want to learn how to use various computer programs. If you are proficient in these programs, you can use this knowledge to start your course.
You may not appreciate how demanding organizing an event is until you find yourself in a situation where you need to plan a party. This explains why most people start hosting events as part-time jobs but end up doing it full-time.
Numerous occasions require event planning. These include birthdays, proms, religious events, and even funerals, among many others.
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Waste management is another venture that can be quite lucrative and has significant potential associated with today’s pollution reduction agenda. The business potential lies in Nigerians’ lack of awareness of proper waste disposal and management.
Several businesses can be started in this niche, the most popular of which are waste disposal, waste recycling, organic fertilizer production, and garbage disposal.
The food industry in Nigeria is quite extensive. You can explore numerous niches including frozen food production, cooking oil production, oil palm processing, yogurt production, tomato puree production, harry processing, rice grinding and fruit juice production.
If you have a car and are looking for a profitable business in Nigeria, you should definitely consider ridesharing. Car owners can earn extra money and have no impact on their daily routines in any way thanks to innovative business ideas such as ride sharing. For example, you can advertise your car as a taxi and pick up passengers while running your errands. There are modern sharing apps that make this idea easy to implement.
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Nigeria has faced severe power supply problems due to factors such as a rapidly growing population. As the world shifts to more sustainable and environmentally friendly energy sources, the Nigerian government is creating incentives to encourage alternative energy sources.
This has led to a growing demand for alternative energy sources, including solar and wind energy. It is possible to earn money by importing, selling and installing alternative energy equipment.
Photography and cinematography are among the most attractive business opportunities in Nigeria. These professions are suitable
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