19 Low Cost Business Ideas & Profitable Businesses You Can Start in Nigeria
In case you are thinking of investing into a business or businesses and you are confused on what type to go into. The below article can help you in deciding on what business venture to do.
Here are top 20 most lucrative businesses in Nigeria you can invest your money and be sure of making millions back in no time.
1.Poultry Farming– This business is making average Nigerians rich. It is so lucrative that even outsiders are coming in to invest in poultry farming the business in Nigeria. And why not, In a country of more than 150 million people, what would you expect? If you start with 1,000 birds and manage your poultry farm properly, when the turnover on investment begins to come, you will be making up to N30 million annually.
2.Cassava Production– People are beginning to turn their attention to this aspect of farming in Nigeria that have been neglected for years. Cassava derived foods are some of the most consumed in Nigeria. If you can invest in cultivating 50 – 100 Acre in a fertile area like Ondo State, your harvest will be great.
3.Import Used Cloth– Tokunbo market in Nigeria is very big and many people prefer to buy used items that are high quality than buy fakes.The cost of buying and importing used cloths is low compared to the prices in the market here in Nigeria, guarantying good turn over on investment.
4.Sale Of Furniture– Buying and selling of Locally make furniture is a goldmine. You don’t need to be a carpenter to do this, just arrange for regular supply from reliable Carpenters while you display and sale in your showroom. It is a very big business in Nigeria as only few can afford the imported designers.
5.Snail Rearing– Snail farming is one of the choice Animal farming for many reasons. It is a low capital investment with high yield and the market is big. There are few people currently doing this – and most of them are doing it in a very low scale. If someone invest heavily in Snail farming, he is sure to make good money in Millions within a year.
6.Rice Farming– Rice remains the most consumed food staple in Nigeria and Billions of dollars goes into importation of this product yearly from China and Thailand because the local farmer are unable to meet up the demand due to poor funding and limited knowledge. Anyone who have a million dollar to invest should get in touch and partner with me with 100% return. $1,000,000 = $2,000,000 guaranteed
7.Making of Fruit Juice– Nigerians drink fruit juice more than any other people. That’s why companies like La Carcella and Chivita who came into the country as nobody are today making billions of naira annually. This business in capital intensive but if you can afford it, it’s well worth it.
8.Pure Water Production– You know how popular this is in Nigeria and how many that are dispensed daily. Though this business is capital intensive but well worth investing into, especially if you can manage it properly with professionalism.
9.Oil and Gas Business– We are blessed and cursed with huge deposit of oil in our land which presents some of the finest business opportunity for Nigerians and Foreigners over the years. Owning a Petrol Filling Station, Supplying of Diesel, and Distribution of Kerosene are some the areas you can invest easily and make good money for yourself.
10.Haulage Services– The cost of taking a truck from one place to the other in Nigeria is between N20,000 to N200,000 per trip. Due to poor rail transport system, most of the Nigerian goods are transported through the road, making haulage business in Nigeria a viable one.
11.Hotel Business-This is probably the coolest money making opportunity in Nigeria. Invest in small scale hotel of just 10 suites and watch as the money flows in. This has nothing to do with tourism boom of any kind; there is just something in Nigerians system that make this business very lucrative – Nigerians are jolly people!
12.Fast Food Eatery– Eatery business is another goldmine though poor management can kill it death! If you wish to go into this business, be sure to get everything right and don’t forget it’s a bit capital intensive and requires good management skills. But if you get everything right, free money is yours.
13.Importation of Tokunbo Spare Parts– If you are in USA, this business is good for you. Don’t just keep importing exotic cars, gather tokunbo spare parts in containers and ship down here. There is huge market for it in Nigeria.
14.Investing in Property– Property appreciate everyday in Nigeria. Right now, Nigeria is one the countries in the world where landed property is most expensive. If you buy land now anywhere in Lagos, you are sure to make 100% profit within two years. You can buy and quickly resell and make profit. Or you buy keep and sell later.
15.Dry Cleaning– Professional dry cleaners at affordable prices are scarce in Nigeria. What we have are professional Dry Cleaners whose service fees are extremely high or mediocre dry cleaners who can never keep with time. Give them cloths today and meet it unwashed after one week. This business is a money maker if you balance it up.
16. Professional Car Wash– This business is good if you can set it up in a strategic location in a place like Lagos where there are good number of cars. You.
17. Sales of Building Materials– The rate at which new houses are springing up in Nigeria, you get to wonder why many people still complain of housing problem. Investing in building material is a good business and I can count some guys who are making millions almost daily in this business.
18. Transport Business– What we have in this sector are transport companies that are badly managed by local chiefs and touts. Invest in this business with good management and you will be wondering what hits you with bags of money.
19. Nursery and Primary School– School business has no rival among it’s mate. My little kids school fees take away close to a million naira per term just to learn ABC!