2018 was amazing for many businesses in the country; We are still buzzing from this profitable excitement. These Are the List Of Top 10 Most Lucrative Business In Nigeria that I believe you should look out for in this year.
This is the very next revolutionary industry in Nigeria right now where millionaires are currently being made on a daily basis. Nigerians, both home and abroad are beginning to wake up to this huge potentials in Agricultural business which is a sector Nigerians have been neglecting over the years. This is due to the discovery of oil in the country. Now that the oil looks like drying up, people have started to look into other sectors of the economy to create wealth for themselves.
Here are some of the business in Nigeria that are serious making people much profit:
- Poultry Farming
This is the business that is making average Nigerians rich. It is very very lucrative – even outsiders are coming in to invest in the poultry business. Why not, In a country of more than 160 million people, what would you expect? If you begin with just 1,000 or even 500 birds and manage your poultry farm very well, by the time you start experiencing turnover on the investment, you will be making millions annually.
- Cassava Production
People are now turning their attention to this aspect of farming in the country which have been neglected for many years. Cassava made foods are the most consumed in Nigeria. You can start small or if you have the capital you can invest in cultivating like 50 to 100 Acre in a fertile area, your harvest will surely be great.
- Snail Rearing
Snail farming is one of the most lucrative Animal business for many reasons. It is a very low capital investment with high yield profit and the market is very large. There are very few people currently doing this and most of them are doing it in a low scale. If someone invest heavily in this, he will surely make good money within a year.
- Rice Farming
Rice surely remains the most consumed food in Nigeria and Billions of dollars goes into the importation of this product yearly from China and mostly, Thailand. Because the local farmer in Nigeria are unable to meet up with the demand.
2. Sale of Furniture
Buying and selling of Locally made furniture is surely a goldmine. You do not need to be a carpenter to do this business, you can just arrange for regular supply from a reliable Carpenter around in the country while you just display and sell in your showroom. It is a big business especially in Lagos, Nigeria as only few people can afford the imported designers.
3. Making of Fruit Juice
Everybody drink fruit juice throughout the globe and Nigerians isn’t an exemption. That is why many companies who came into the country for this type of business today have made billions of naira. Thought, This business is capital intensive but if you can afford it, it is well worth it.
4. Pure Water Production
As a Nigerian, you know how popular this is in the country and how many that are being consumed daily. Though this business requires much capital but it is well worth investing in it, especially if you can manage it properly with much professionalism.
5. Oil and Gas Business
This is the king of most businesses. We are very blessed with huge deposit of oil in our land which presents us some of the finest business opportunity for Nigerians and the foreigners. Owning a personal Petrol Filling Station, Supplying of Diesel, and much Distribution of Kerosene are some of the areas you can invest in and make good cash for yourself. Petroleum products marketing have been making a lot of money for people in Nigeria for years.
6. Haulage Services
Cost of taking trucks from one place to another in Nigeria is between N30,000 to N200,000 per trip. Yes! you heard me right. Due to the poor rail transport system in the country, most of the Nigerian goods and products are transported through the road, which makes haulage business in Nigeria a very viable one.
7. Hotel Business
This is probably the coolest way of making money in Nigeria. You can invest in small scale hotel of just 5 to 10 suites and watch as the money flows in. This sure has nothing to do with tourism perk of any kind; there is just something in Nigeria system that make this business a very lucrative one– Nigerians are jolly people!
8. Fast Food Eatery
Eatery business is just another goldmine. Though poor management and bad employee can kill it! If you wish to go into this business in Nigeria, be sure to get almost everything right and do not forget it is capital intensive and requires a very good and quantitative management skills. But if you get everything right, you are in money!
9. Importation Of Tokunbo Spare Parts
If you are in the United States, Germany, or even Denmark, this business is good for you. Do not keep importing exotic cars, gather those tokunbo spare parts in containers and ship it straight to Nigeria. There is huge surely huge market for used (tokunbo) spare parts in Nigeria.
10. Investing in Property
Property do appreciate everyday especially in Nigeria. Currently, Nigeria is one the countries in the world where landed property is more expensive. If you buy a plot of land now anywhere in Lagos, you are sure to make almost 100% profit within the very first two years. You can buy and quickly resell to make profit. Or you buy and keep and keep for later.
There are more businesses in Nigeria that can be done right now. A lot isn’t in this list though. Want to make that money this new year? Get something doing now!