What Is The Most Profitable Business In Nigeria – You can start these businesses in Nigeria with small capital, we have grouped them (businesses) sector by sector for easy assessment and understanding.
Nigeria is filled with huge profitable business opportunities that anyone can take advantage of. As one of the most populous countries in Africa, Nigeria has a market for businesses. The 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 employment, food and security can only make life miserable in this present age.
What Is The Most Profitable Business In Nigeria
, we know how to provide business ideas in excess. So, if you are looking for successful small business ideas in Nigeria, you can start with little capital, we have provided enough of that on this site to help you make money in Nigeria. You don’t need huge capital before starting 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, right mindset and taking right steps. Some of these correct steps to take to start a profitable small business in Nigeria is what I discussed earlier.
Visit people who are in the same business niche as you. Share ideas with them to get informed about the current trend in that particular business. These are the secrets to a successful small business.
Agricultural businesses are the most successful small business ideas in Nigeria with low capital. Most of the main inputs are space (land), water and sustainable species (crops and animals). You can start these businesses as a sole trader 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 can vary depending on the level of your startup. But with a capital of fifty thousand 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 in the market, in hotels, restaurants, pastry shops and more.
You can start a poultry business on a small scale with a few boilers and then successfully grow it into a large scale poultry industry. The industry will include poultry egg hatchery, layer farming, poultry feed production and many others.
Fish farming business is another successful business in Nigeria that you can start from your backyard. Business is booming well in cities like 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 raise 50 – 100 chicks to marketable 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 once you have a passion for the business.
You can start a small scale fishing business and then grow the business into a large fishing industry. The industry will include fish feed production, fingerling farming and fish sales. On a small scale, you can start with an underground tank instead of building a fish pond.
Heliculture (aka snail farming) is the cultivation of snails for food as well as pharmaceutical use. You can start this business from your backyard. Snail farming business is a secret millionaire business. The business is selling fast in big cities. You can make a lot of money selling snail meat in cities like Abuja, Lagos, Onitsha etc.
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 next to the background. However, if you live in a city or urban area, you can buy high-breed snails from the market to the back.
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The snail industry is one of those agricultural sectors that is not fully exploited in Nigeria. The snail farming business is still carried on in its primitive or conservative form.
Pig farming is the breeding and rearing of domestic pigs for consumption. Pig farming business is a profitable start-up business with low capital. With one or two female pigs at about forty thousand naira (N40, 000) each, you can start a piggery business.
One good thing about the Piggery business is that it has a good profit margin. A sow can give birth to about 8 – 12 piglets in one farrowing which can be reared and sold at a market price of forty thousand naira. If 10 piglets survive, you will make like four hundred thousand naira (N400, 000). This makes the pig business profitable.
Many small and medium enterprises in Nigeria are into the piggery business because of its profitability. Banks can comfortably offer you a loan if you are into pig farming. You can start small scale pig farming with one or two female pigs and grow your pig farm to a large pig industry in Nigeria
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Vegetable farming is one of the profitable low capital businesses. Business is more profitable during the dry season than the rainy seasons in Nigeria. You can start growing vegetables from your backyard once; 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 proper time to earn from growing vegetables is the dry season.
You can start growing vegetables on a small scale from the comfort of your backyard and then grow it into 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 varieties of garden eggs, you can go into its cultivation. The garden egg thrives very well in the Middle Belt and Northern Nigeria. So if you live in a place like Jos, Makurdi, Kogi and many other places.
The capital input is low once you have a garden or land for raising garden eggs. Just like growing vegetables; viable seed, insecticides and fertile soil are important things needed to succeed.
You can start gardening on a small scale and then grow it into a large commercial vegetable farm. see him
One of the most common foods we eat is rice. With the ban on rice importation in Nigeria, rice farming is now one of the top growing business ideas. Nigeria has a large market for rice. It is a rural and suburban business. Although, the business is little capital intensive, but it is profitable. A bushel of rice can only weigh 40 kilograms, which is about seven thousand five hundred naira (N7500).
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Most land used for rice cultivation is wetlands and such lands are found in Ebonyi State, Abia State, part of Anambra State, Benue State, part of Niger State and many others. You can start with rice farming and then grow into a rice milling industry. The rice milling industry in Nigeria has grown in recent times with the ban on the importation of foreign rice.
The cassava processing business is a rural and suburban business. Cassava product like gari is selling fast in Nigeria. This is because gari is the main food eaten by Nigerians. The cassava processing industry is a large industry especially when it is mechanized. Starting a mechanized cassava processing industry is capital intensive. It is best to start a small-scale cassava processing business with a semi-manual cassava processing machine.
There is a market for processed cassava products in Nigeria. Starch, alcohol, animal feed and many others are fast selling cassava products. You can go into manufacturing any of these cassava products.
Dog training is the raising of dogs as a pet, provision as well as for food. It is a business you can start in Nigeria with little capital. With just fifteen thousand to forty thousand naira you can buy an English dog like a police dog, bulldog and many others. However, you should have enough money to feed the dog.
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Dogs eat a lot and must be well fed so they don’t bite people. Again, dogs need proper handling and vaccinations. This is because they can easily misbehave.
People living in Calabar, Cross River State, Jos, some parts of Southeast and South-South Nigeria are known to eat dog. So there is a market for dogs in those spaces. Dog breeding is progressing well in Jos. You can start a dog breeding business on a small scale and then grow into commercial dogs
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