What Is The Best Profitable Business In Nigeria – You can start these companies in Nigeria with small capital, we have grouped them (after) sector by sector for easy evaluation and understanding.
Nigeria is full of huge lucrative business opportunities that anyone can take advantage of. As one of the most populous countries in Africa, Nigeria has a market for companies. Businesses that do well in Nigeria are those that can solve the basic problem of the people. The instability in the Nigerian economy has created the need for every person to start a business, no matter how small. Relying on the government to provide jobs, food and security can only make life miserable in this present time.
What Is The Best Profitable Business In Nigeria
, we know how to offer business ideas galore. So if you are looking for successful small business ideas in Nigeria, you can start with little capital, we have provided enough on this page to help you make money in Nigeria. You don’t need huge capital before you can start a business.
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Ask any multinational company or large corporation how they got started. You will find that they all started from little to nothing. Becoming successful in any small business in Nigeria is a difficult task. It requires serious commitment, strong financial support, hard work, the right mindset and taking the right steps. Some of these right steps to take to start a profitable small business in Nigeria are what I talked about earlier.
Visit people who are in the same business niche as you. Share ideas with them to stay up to date with the current trend in that type of business. These are the secrets of a successful small business.
Farming businesses are the most successful small business ideas in Nigeria with low capital. Most of the main inputs are space (land), water and sustainable breeds (crops and animals). You can start these businesses as a sole proprietor and then grow into a limited company.
Poultry farming is a typical successful business that you can start with little capital. You can start a poultry business as a home business or from the comfort of your backyard. Poultry farming thrives so well in places like Jos, Ibadan, Enugu, Makurdi where the climatic conditions are favorable.
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Capital input may vary depending on your starting level. But with a capital of fifty thousand naira to two hundred thousand naira (N50, 000 – N200, 000), you can comfortably raise 50 birds from 2 week old chicks to market size.
The Nigerian poultry industry has the second largest chicken population in Africa after South Africa. There is a large market for poultry products in Nigeria. You can sell at the market, hotels, restaurants, cake shops and more.
You can start a low level poultry business with a few boilers and then successfully grow it into a large scale poultry industry. The industry will include a poultry egg hatchery, layer farming, poultry feed production and more.
Fish farming is another successful business in Nigeria that you can start from your backyard. The business is progressing well in cities such as Port Harcourt, Calabar, Kano, Lokoja, Ibadan, Akure and Enugu Nigeria. With a capital of one hundred thousand naira to five hundred thousand naira (N100, 000 – N500, 000), you can comfortably grow 50 – 100 fry to market size.
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There is a huge market for fish and fish products in Nigeria. There is no doubt that you will succeed in fish farming when you have a passion for the business.
You can start a fishing business at a low level and then expand it into a large fishing industry. The industry will include the production of fish feed, the breeding of fry and the sale of fish. On a low scale, you can start with an underground reservoir instead of building a pond.
Heliciculture (aka Snail Farming) is the cultivation of snails for food as well as pharmaceutical use. You can start this business from your backyard. The business of breeding snails is a secret millionaire business. Business sells quickly in big cities. You can make a lot of money selling snail meat in cities like Abuja, Lagos, Onitsha and so on.
Snail farming is one of those businesses that you can start without capital, especially if you live in a rural area. If you are in a rural area, you can easily collect wild species of snails from composites and bushes. However, if you live in a city or urban area, you can buy high-breed snails from the market all the way.
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The snail industry is one of those agricultural sectors that has not been fully exploited in Nigeria. Snail breeding is still carried out in a primitive or conservative form.
Pig farming is the breeding and rearing of domestic consumption pigs. Pig farming business is a lucrative business with low initial capital. With one or two female pigs at about forty thousand naira (N40, 000) each, you can start a pig farming business.
One good thing about the Piggery business is that it has a good profit margin. One pig can give birth to about 8 – 12 piglets in one delivery which can be reared and sold at a market price of forty thousand naira. If 10 piglets survive, you will earn about four hundred thousand naira (N400,000). This makes pig farming profitable.
Many small and medium enterprises in Nigeria engage in pig farming because of its profitability. Banks can easily offer you a loan if you are engaged in pig farming. You can start small scale pig farming with one or two females and grow your pig farm into a major pig industry in Nigeria
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Growing vegetables is one of the profitable businesses with little capital. Business is more profitable during the dry season than during the rainy season in Nigeria. Once you can start growing vegetables from your backyard; you have enough garden land and water sources for irrigation.
If you have enough land and water source for irrigation, five to ten thousand naira (N5000 – N10000) will be enough to start a commercial vegetable farming business.
Sustainable seeds, insecticides and fertile soil are what you need to succeed in growing vegetables. The right time to make money from growing vegetables is the dry season.
You can start a small vegetable farm from the comfort of your backyard and then grow it on a commercial mechanized vegetable farm.
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Garden egg farming business is selling fast in the North and many other parts of Nigeria. There are different types of garden eggs, you can grow them. Garden Egg thrives very well in the middle belt and northern Nigeria. So if you live in places like Jos, Makurdi, Kogi and many other places.
Capital input is low when you have a garden or land for growing garden eggs. Just like growing vegetables; sustainable seeds, insecticides and fertile soil are important things needed for success.
You can start gardening on a small scale and then grow it into a large commercial garden farm. see
One of the most common foods we eat is rice. With the ban on rice imports in Nigeria, rice farming is now one of the fastest growing business ideas. Nigeria has a large rice market. It is a rural and suburban business. Although the business is a bit capital intensive, it is lucrative. A bushel of rice can weigh as little as 40 pounds, which is about seven thousand five hundred naira (N7500).
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Most of the lands used for rice cultivation are wetlands and such lands are found in Ebonyi State, Abia State, some parts of Anambra State, Benue State, part of Niger State and many others. You can start rice farming and then grow into a rice milling industry. The rice milling industry in Nigeria has recently grown with the ban on the importation of foreign rice.
Cassava processing is a rural and suburban business. A cassava product such as garri is selling fast in Nigeria. This is because garri is the staple food eaten by Nigerians. The cassava processing industry is a large industry, especially when mechanized. Starting a mechanized cassava processing industry is capital intensive. It is best to start a cassava processing business on a small scale with a semi-manual cassava processing machine.
There is a market for processed cassava products in Nigeria. Starch, alcohol, animal feed and more are fast selling cassava products. You can start making any of these cassava products.
Dog breeding is the breeding of dogs as pets, for safety as well as for food. It is a business you can start in Nigeria with little capital. With as little as fifteen thousand naira to forty thousand naira, you can buy an English dog like a police dog, a bulldog and many more. However, you must have enough money to feed the dog.
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Dogs eat a lot and must be well fed to avoid human bites. Again, dogs need proper handling and vaccinations. This is because they can easily misbehave.
People living in Calabar, Cross River State, Jos, some part of Southeast and Southern Nigeria are known to eat dogs. So there is a market for dogs in those areas. Dog breeding is progressing well in Jos. You can start a dog breeding business at a low level and then grow into commercial dogs
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