Top 10 Lucrative Business Ideas In Nigeria – Nigeria is one of the leading economies in Africa. Despite this, the country is still plagued by many problems, one of which is rampant unemployment. This has led to a large number of people pursuing self-employment with a wide range of businesses. As in many other countries, some businesses do better than others for a variety of reasons. What are the top business ideas in Nigeria today?
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Top 10 Lucrative Business Ideas In Nigeria
Whether you’re looking for a full-time business or a small business in Nigeria to work as a side hustle, there are plenty of businesses you can’t go wrong with.
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One of the fastest growing business opportunities in Nigeria is livestock farming. However, this industry has yet to reach its full potential.
In this business, you will need patience and experience and ask for the services of livestock rearing experts. Some of the areas you can enter include catfish farming, chicken farming, cattle grazing, goat farming, and snail farming.
It may not be an entirely new idea, but blogging has not been widely marketed in Nigeria, as it is in more developed countries. If used correctly, blogging can easily be one of the most profitable online businesses because of the many monetization options.
Being a blogger can be a great source of income from the comfort of your home. All one has to do is find a niche and target the right audience.
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Nigeria has an incredibly active agricultural sector. You can start your export business if you register with the Nigerian Export Promotion Council and decide on a specific product that you would like to export. Some of the most sought after products abroad include cassava flakes, cacao, yam flour, peanuts, chilies, cashew nuts, mangoes, and many others.
Life is something that many people do not take for granted in the modern age. 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 your hands on some money, put in a modern gym, and your business will be a success story in no time. However, you will have or hire someone who has the right skills to train people.
Are you looking for a profitable business in Nigeria? After that you should consider entering the mining industry. Nigeria is endowed with abundant mineral resources. Some of the common materials include coal, iron ore, limestone, asphalt, and more. Nigeria’s mining sector has been growing, paving the way for new investments.
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If you have access to significant capital, a skilled and experienced team, and the right market, you can enter this lucrative industry.
The oil and gas sectors are important in Nigeria. Most of the country’s rich are involved in the sector in one way or another. Although it can be very profitable, the oil industry is also very expensive to enter. If you have enough money to start a private refinery, you will benefit greatly from many government subsidies and other financial incentives.
You probably spend a lot of time on Twitter, Instagram, Facebook, and other social media. However, you may not know that you can earn while interacting with your friends and followers online. Monetize your social media accounts by making them a platform for others to advertise their products. For example, if you have a lot of followers on Facebook or YouTube, you can learn how to run ads and get paid per view.
If your hobby has something to do with sewing or textiles, and you don’t mind making your own for a living, you should probably try a uniform sewing business. There are dozens of schools in every state, and they all require uniforms for their students. This huge demand makes tailoring one of the best small business ideas in Nigeria.
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Additionally, there are many corporate organizations that have employees who wear uniforms – for example, security personnel. After establishing a business, you can develop your business and make good money from this business.
Excellent writing is highly sought after in various fields today. First, you can look for freelance job opportunities online or write to a recruiting firm. The benefits of this job are countless, the main one being the freedom to work anywhere.
Later, when your business grows, you can hire other writers and start your own small freelance company. If you have a way with words and can come up with engaging content, this is among the best businesses to try.
Starting an accounting or bookkeeping business is one of the best business ideas in Nigeria for those who have the skills, of course. But first, you must become a chartered accountant and gain the necessary exposure to successfully manage clients.
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The call center business has become very popular today. There are many people who need help, guidance, advice, or want to complain about services or products. So, you can set up a call center/agency and work for big companies on contracts.
Nigeria is facing massive unemployment, millions of people are on the lookout for jobs. You By starting a recruitment agency, which will connect job seekers with available opportunities. All you need to do is work with different companies and people who want to hire people.
Your recruitment agency can grow and expand over time, depending on how well you can study the job market.
The Nigerian beauty industry has undergone major changes in the past due to the growing demand for cosmetic products and services. And this is a great business opportunity to get into. If you set up a beauty salon or barbershop/beauty salon/spa and offer good services, you can get more customers.
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Clothing is among the basic needs of people. This explains the ever-increasing demand for clothing in Nigeria and other countries around the world. Today, there is still a market for clothes, especially fashionable and inexpensive ones.
You can import clothes from various countries, including China, India, France, Italy, United Kingdom, USA, etc.
With the busy schedules that accompany modern life, people need to take care of their children during the day. Many people are wary of domestic helpers knowing how they can sometimes abuse children when their parents are not around. Another is to take the children to a daycare center if they are not there. You can start a business in a small, rented room or even in your guest house
Are you skilled in a particular field and feel that you can help other people improve their skills? Then a personal trainer business is a business worth considering. For example, millions of Nigerians sit for various academic tests and exams every year and need someone to help them prepare.
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Another example is the large number of people who want to learn how to use different computer programs. If you have experience in the mentioned programs, you can use this information to start your studies.
You may not realize how demanding hosting an event is until you find yourself in a situation where you have to plan a party. This explains why many people start event hosting as a side hustle but end up doing it full time.
Many times it is necessary to organize events. This includes birthday parties, graduation parties, religious events, and even funerals, among many others.
Waste management is another business that can be very profitable and has great potential in line with the modern pollution reduction agenda. The strength of the business lies in the lack of awareness among Nigerians when it comes to waste disposal and proper management.
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Several businesses can be started in this niche, with the top ones being waste disposal, waste recycling, organic fertilizer production, and waste transportation.
The food processing industry in Nigeria is quite large. You can choose to enter many niches, including frozen food production, vegetable oil production, oil palm processing, yogurt production, tomato puree production, garri processing, rice milling, and fruit juice production.
If you have a car and are looking for a profitable business in Nigeria, you should consider ride sharing. Car owners can make more money and not have to compromise their means with new business ideas like ride sharing. For example, you can advertise your car as a taxi and pick up passengers while you run your errands. There are modern ride sharing apps that can let you implement this idea easily.
Nigeria has been facing major power supply problems due to factors such as a rapidly growing population. As the world transitions to sustainable and environmentally friendly energy sources, the Nigerian government has been creating incentives to promote alternative energy sources.
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This has led to increased demand for alternative forms of electricity generation, including solar and wind power. One can make money by importing, selling, and installing other electrical equipment.
Photography and cinematography are some of the most attractive business opportunities in Nigeria. These activities are suitable for people who like to write for special occasions. Although there is tough competition in this industry, creating a niche can win you over
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