125 Plus Super Lucrative Businesses in Nigeria
Hello everybody, this is one big post with 125 + super Lucrative Businesses in Nigeria, this post took me almost 5 weeks to write down, a lot of effort has been put through it, so please do share it with your friends and family!
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123 Super Lucrative Businesses in Nigeria That You Should Invest In!
Oh boy!
This article is about to take you on a wild ride through the most lucrative business ideas in Nigeria.
And the best part?
You don't need to have a lot of money to get started!
These business
ideas are so profitable, they have the potential to make anyone successful if
they're handled properly.
And I am not even kidding, you will
definitely agree once you get through the whole thing, that’s guaranteed!
Let's face it, with the crazy high rate of unemployment in Nigeria, many people are left without jobs. I mean just in 2021 unemployment rate in Nigeria was 9.79%, a 0.07% increase from 2020.
It's like being on
a sinking ship with no lifeboat!
But don't worry, if you're sharp enough, you
can start your own business and avoid going down with the ship.
And who knows, in no time, you could be
generating your own income and even employing others!
You might think that you need to be rolling
in dough to start a business, but that's not true at all.
These business ideas we're about to share can
be ventured into with small capital or big capital, depending on your capacity.
It's like that saying goes, "Start where you are. Use what you have. Do
what you can."
Now, let's talk about the advantages of starting a business in Nigeria. For one, you put your destiny in your own hands.
No more dealing with bosses who can fire you at the drop of a hat! Job security, baby! Plus, you get the opportunity to build a brand for yourself.
And the more you grow, the bigger your brand gets. Just look at Steve Jobs (Apple Company Founder), even
after he's gone, his brand and his company remains or take Gabriel Igbinedion, who is no more but his Okada Group is still here.
Running your own business also gives you a better opportunity to become rich. There's too much competition in the workplace, but in your own business, you call the shots.
And let's not forget, you have the chance to impact the economy by creating jobs and providing a livelihood for other Nigerians.
The joy of employing people and giving them a
means to survive should be a huge motivation for everyone with a good heart to
venture into business. So what are you waiting for? Let's get started!
Event Planning Business: Nigerians love to party and they do it big! Whether it's weddings, birthdays, or even funerals, people in Nigeria are always looking for a reason to celebrate. That's where event planning comes in.
You can help them create the perfect party that will be the talk of the town
for weeks to come.
The Nigerian events industry is worth a whopping $20 billion! That's right, we don't mess around when it comes to celebrating.
Nigerians have a reputation for throwing some of the most extravagant shindigs in the third world - and we're not just talking about your run-of-the-mill 'owambes.'
Nowadays, even companies are jumping on the bandwagon, using events as a fancy way to market themselves and communicate with their customers.
So, get your dancing shoes on and let's show the world how we like to get down in Nigeria!
Transportation Business:
Are you looking for a business idea that's always on the move?
Look no further than the transportation business!
With over
150 million people in Nigeria constantly on the go, this industry is always on
the move and so should you!
Whether you have a small or big capital, there's always a way to get into this lucrative industry.
Start by driving an Uber with your car for some extra cash or invest in buses, okadas, keke-napeps, or even planes!
That's right, you could be the next big airline mogul in
Nigeria!
And let's not forget about the constant need for transportation.
People are always moving, whether it's for work, church, mosque, or just to visit friends and family.
So hop on the bandwagon and get
your wheels turning!
Over the period from 2010 to 2022, the amount of money generated by the transportation sector in Nigeria, as measured by its contribution to the country's Gross Domestic Product (GDP), has fluctuated quite a bit.
On average, this sector has contributed around 209 billion Nigerian Naira (NGN) per quarter.
However, in the fourth quarter of 2021, it hit a peak of 335 billion NGN, which is the highest it has ever been.
Social Media Management: Social media is big in Nigeria and Nigerians are even bigger on social media.
As a social media manager, you can help businesses and individuals manage their online presence, create engaging content and build their brand.
You'll be responsible for making them look good
and keeping their followers happy.
Hair Salon & Cosmetics: If you are someone who loves to look good and enjoy keeping up with the latest trends, then a career in cosmetics is the way to go.
It's a constantly evolving industry, so if you want to stay on top,
you need to keep up with the latest trends.
Did you know that the cosmetics industry in Nigeria is worth over $1 billion? Revenue in the Hair Care segment amounts to US$1.16bn in 2023.
The market is expected to grow annually by 12.96% (CAGR 2023-2027). That's a lot of money, and it shows just how much Nigerians value
beauty and self-care.
If you are passionate about beauty and enjoy making people feel good about themselves, then a career in cosmetics or hair care could be very lucrative.
With a good marketing strategy and high-quality products, you can tap into this growing market and make a name for yourself.
So, get your brushes and combs ready and let's get beautiful!
Content Creation:
Whether it's for a blog, website, or social media, Nigerians are always hungry for content.
As a content creator, you'll be responsible for creating engaging, informative and entertaining content that captures the attention of your audience.
If you've got a way with words or a
keen eye for visuals, this might just be the business for you.
Web Development: With the increasing demand for online presence, web development is a lucrative business in Nigeria.
In the Lagos area, it is estimated that the total remuneration for a Web Developer is NGN 330,000 per month, with an average monthly salary of NGN 150,000.
As a web developer, you'll be responsible for creating and designing websites that are user-friendly, responsive and visually appealing.
You'll need to have some
coding skills and creativity to make it big in this market.
Mobile App Development: Nigeria has a large population of smartphone users and mobile apps are becoming a necessity for businesses to reach their customers.
As a mobile app developer, you can create apps that are both functional and easy to use.
If you've got some tech skills and a creative mind,
this business idea might be the next big thing.
The App market in Nigeria is expected to bring in a total of US$143.10 million in revenue in 2022.
Looking ahead, the market is also expected to grow steadily over the next few years, with an annual growth rate of 7.14% projected for the period from 2022 to 2027.
By the end of this period, the total revenue generated by the App market is expected to reach US$213.50 million.
So, there's definitely some money to be made in the world of apps - and it looks like this market will continue to be a profitable one for the foreseeable future!
Mineral Water Business: Let's talk about the pure water business, which is one of the most profitable ventures in Nigeria.
With a population of over 200 million people, and a drinking water supply that is often contaminated, there is an insatiable demand for clean and safe drinking water.
In fact, the demand for bottled water in Nigeria is estimated to be over 60 billion units per year, with the industry worth billions of naira.
In 2015, the bottled water market in Nigeria was valued at 1.15 billion USD, calculated at retail prices. It is projected that by 2025, the water market in Nigeria will reach 7.52 billion USD (at retail prices), which indicates a compounded annual growth rate of 16.89% for the period between 2020 and 2025.
So, if
you're looking for a business idea that's always in demand, the pure water
business might just be your golden ticket to success!
Cloth Business:
Listen up fashionistas! Opening a boutique in Nigeria is a fashionably smart move for any aspiring entrepreneur.
Did you
know that the fashion industry in Nigeria generates over 2.2 billion dollars
annually? And with a population of over 210 million people, the demand for
trendy and stylish clothes is always on the rise.
Interesting fact: The export value of textiles and textile products from Nigeria in 2021 was roughly 12.3 billion Nigerian naira (NGN), which is equivalent to about 29.6 million U.S. dollars.
As a boutique owner, you can focus on both men's and women's apparel and accessories and cater to the fashion needs of your fellow Nigerians.
With a keen eye for style and a passion for fashion, you
can build a successful business while making people look fabulous. So don't be
a fashion victim, be a fashionpreneur and start your own boutique today!
Dropshipping: Want to start a business but hate the thought of dealing with inventory and the hassle of warehouse management?
Fear not, my friend! Dropshipping is here to save the day!
With dropshipping, you can run an online shop without ever touching the products you're selling.
It's
like being a ghost in the machine, except you get to make money!
All you have to do is create an online store using a platform like WooCommerce or Shopify, copy and paste products from suppliers, and boom! You're in business!
When someone places an order, your supplier will ship the product straight to your customer, and you get to sit back and watch the money roll in.
It's like being the middleman of an invisible
market, without ever having to leave the comfort of your own couch.
Virtual Assistant: If you're looking for an internet business idea that doesn't require you to leave your pajamas, becoming a virtual assistant is where it's at.
And the best part? You don't even have to
physically be with your client to help them out!
As a virtual assistant, you can use your mad skills to help others run their businesses from afar.
It's like being a superhuman sidekick, but without the pesky spandex.
Plus, there are tons of
freelancing websites out there where you can find loads of job opportunities,
so you can be a hero to multiple clients at once.
Dry Cleaning:
Are you tired of wearing wrinkled clothes that make you look like you just rolled out of bed?
Well, worry no more! Dry
cleaning services are here to make you look like a million bucks!
Did you know that according to a recent survey, over 70% of employed Nigerians prefer to take their clothes to the dry cleaners?
And with more and more companies and organizations popping up in the
city, the demand for dry cleaning services is only going up!
So, if you want to be a part of the "look-good, feel-good" movement, then starting a dry cleaning business is the way to go!
Just make sure you set up shop in the right
location, and you'll have a steady stream of customers coming in and out of
your doors faster than you can say "wrinkle-free"!
According to projections, the Home & Laundry Care market in Nigeria is expected to experience significant growth over the next few years. Specifically, the market is expected to grow by 12.76% between 2023 and 2026.
This growth is predicted to lead to a total market volume of US$5.35 billion in 2026.
So, if you're in the business of home and laundry care in Nigeria, it looks like there may be some big opportunities for growth and profit on the horizon!
Digital Marketing: In the age of technology, businesses are moving their advertising efforts online.
With over 200 million internet users in Nigeria, digital marketing is a profitable business idea that can help businesses grow their online presence.
As a digital marketer, you will create marketing campaigns for businesses, run social media accounts, and optimize their website for search engines.
According to a report by Statista, the
digital advertising spend in Nigeria is projected to reach US$247m in 2023.
Fashion Business: Ah, the world of fashion. If you're looking for a profitable business in Nigeria, look no further than the fashion industry.
Nigerians know how to party, and when they party, they party in style!
Whether it's a wedding, a birthday, or even a funeral, there's always a
need for fashionable clothes.
The fashion business is always in demand because people always need clothes. I mean, you can't go to work or school naked, right?
Plus, even if you're just lounging at home, you'll still need something to wear.
The demand for clothes is just through the roof!
You can start your own fashion design business and create amazing clothes for people to wear.
Or, you can open a boutique and sell imported and locally-made fashion items.
You can even offer
printing services and put cool designs on t-shirts and caps.
And let's not forget about the Okrika business.
Second-hand clothes are always in high demand.
People will always wear clothes, no matter where they come from!
You can specialize in children's clothes, baby clothes, women's clothes, wedding attire, African print, and so on.
The possibilities are endless!
In fact, did you know that the fashion industry in Nigeria is estimated to be worth over $4.7 billion?
That's a lot of
money, and you can definitely get a piece of that pie!
Photography: The photography business in Nigeria is booming, as people are always in need of professional photographers for their events, product shoots, and social media content.
With a population of over 200 million, Nigeria has a large market for photographers.
As a photographer, you can specialize in event photography, portrait photography, commercial photography, and more.
The photography industry in Nigeria was estimated to be worth approximately $80 billion in 2017, and it's projected to grow significantly in the coming years.
Specifically, experts predict that the industry will reach a value of $150 billion by the year 2026.
This means that there will likely be many opportunities for growth and profit in the Nigerian photography industry in the years to come.
So, if you're a budding photographer in Nigeria, this could be a very exciting time to be in the business!.
Videography: My dear entrepreneur, let me tell you a secret - people in Nigeria spend more time scrolling on their phones than they do sleeping (don't fact-check that).
These days, everyone is moving away from
traditional TV and is gravitating towards online video platforms like YouTube
and Netflix.
Sure, internet data is a bit on the expensive side in Nigeria, but that's not going to stop anyone from binge-watching their favorite shows.
So, if you're interested in making some money, start a video blog on YouTube and create content around your favorite topics.
You can make money from advertisements, sponsorship deals, and even affiliate marketing!
It's like being a couch potato, but you get paid for it. Who wouldn't want
that?
Interior Design: The interior design business is growing in Nigeria as people are becoming more interested in creating aesthetically pleasing spaces.
As an interior designer, you will help clients design and decorate their homes, offices, and public spaces.
According to a report by PwC,
the Nigerian real estate market is projected to grow at a compound annual
growth rate of 6.4% between 2020 and 2024, creating a large market for interior
designers.
And on average, an Interior Designer in the early stages of their career, with 1-4 years of experience, earns a total compensation of ₦2,150,000, including bonuses, tips, and overtime pay.
In contrast, a mid-career Interior Designer with 5-9 years of experience earns an average total compensation of ₦1,200,000 based on 5 salaries.
Affiliate Marketing: Are you tired of your 9-5 job? Do you want
to earn money while sitting at home in your pajamas all day? Look no further
than affiliate marketing!
As an affiliate marketer, you don't need to own any products yourself, you just need to help sell other people's stuff and earn a commission.
It's like being a middleman, but without the awkward
negotiating and shady backroom deals.
With countless affiliate programs available, you can promote anything from physical products to digital goods, and earn a slice of the pie for every sale you refer.
And if you're really good at it, you
could even become a millionaire like some lucky Nigerians through Expertnaire's
affiliate network.
So why waste your time on a boring 9-5 job
when you could be a digital middleman raking in the cash? Get started on your
path to affiliate marketing success today!
Graphic Design: The graphic design business is a lucrative business idea in Nigeria, as businesses and individuals need graphic designers for their branding, marketing, and social media content.
As a graphic designer, you will create logos, business cards, social media graphics, and other design materials.
According to a report by The Guardian, the Nigerian creative
industry contributed over ₦85 billion to the economy in 2019.
Blogging: Blogging is killing it in Nigeria right now.
It's like the new Nollywood, except with
less dramatic acting and more typing. Instead of buying a newspaper, people are
reading their news online, which is great news for bloggers (pun intended).
If you're wondering how these bloggers are raking in the dough, it's through various means like direct ads, affiliate marketing, and sponsored posts.
It's like a digital version of the classic
lemonade stand, except instead of selling lemonade, you're selling blog posts.
And the best part?
You don't need a ton of cash to get started. For just N35,000, you can have your own self-hosted blog up and running.
That's about the same price as a really nice pair of shoes, except instead of making your feet look good, it could make you millions.
So
get typing, people!
Of course, it's not as easy as just hitting the "publish" button and watching the money roll in.
It takes time, effort, and a lot of caffeine to build a successful blog. But hey, if you're willing to put in the work, the rewards can be sweet.
So go ahead, start that blog and see where it takes you.
Who knows, maybe you'll be the next big thing
in the blogosphere, sipping margaritas on a beach in Bali and counting your
Naira.
Real Estate: Real estate is a cash cow in Nigeria that you can milk with very little startup capital.
It's a long-term investment, so you have to be patient, but the payoff is worth it.
Even broke guys can get a
piece of the action - remember my friend in school who started as a student
agent and now has a big real estate in Lagos?
You don't need to buy a fancy house or land to get started.
In fact, a small investment in a rural area can yield big
returns over time. Just make sure you don't accidentally buy a farm thinking
it's a piece of land, or you'll be in for a moo-ving experience!
Fun fact: According to a report by PwC, Nigeria's real estate sector has seen steady growth in recent years and is projected to continue expanding, driven by factors such as urbanization, population growth, and increased investor interest.
Despite the impact of the pandemic, the real estate industry in Nigeria has shown a continuous rebound and remained strong. Analysts have forecasted a growth of 5.2% for the sector in 2023, which is expected to contribute 6.5% to the GDP.
Additionally, a survey bythe National Bureau of Statistics found that the real estate sector contributed
over N20 trillion to the GDP in the first three quarters of 2022.
Fashion Design: The fashion industry is one of the most profitable industries in Nigeria.
It is a business that has a high demand, as Nigerians have a great love for fashion and are always in need of new clothes.
The industry is also known for its versatility, as it caters to both traditional and modern fashion trends.
According to Statista, the revenue in
the fashion segment in Nigeria is expected to reach US$8,410m in 2023, with an
annual growth rate of 8.6%.
Hotel Business: The hotel business is undoubtedly one of the most lucrative businesses in Nigeria that should not be ignored.
With Nigeria's vast population, people are always on the move for business or pleasure, and hotels offer them shelter.
Additionally, foreign visitors coming into the country frequently patronize hotels.
To succeed in the hotel business, you can either search for a less competitive environment and establish your hotel or offer better or less expensive services in a competitive area.
To
increase your revenue, your hotel should have an event hall that individuals
can rent for events, as well as a bar and restaurant.
Creating a unique brand and providing exceptional customer service can also help your hotel stand out in a competitive market.
You can also consider offering additional services such as spa treatments, conference facilities, and transportation services to attract more customers.
With the right strategy and management, the hotel business can
be a highly profitable venture in Nigeria's ever-growing hospitality industry.
Catering: The catering business is also a very lucrative business in Nigeria, especially in urban areas. Nigerians love food, and there is always a demand for catering services for various occasions such as weddings, parties, and corporate events.
The catering industry is expected
to grow at a CAGR of 8.6% from 2020 to 2025, according to a report by Mordor
Intelligence.
Ice Block Business: Ice block production and sale is an incredibly lucrative business in Nigeria, especially in areas with unreliable electricity supply due to the country's climate.
The process is simple and requires an ice block
making machine or a functional freezer, water, and access to electricity.
Ice blocks are used for a variety of purposes, such as preserving food and keeping drinks cold.
By placing the
drinks in a cooler with the ice block, the temperature of the drinks reduces,
making it a magical solution.
Ice block production and sales are a highly profitable business venture in Nigeria due to the hot climate and the uneven electricity supply in some regions.
The ice blocks produced can be used for various purposes, such as preserving food or chilling drinks.
To start this business, you will need an ice block making machine, a working freezer, a reliable water source, and a stable electricity supply.
Currently, a large block of ice can be purchased for N100 in Nigeria. If you produce at least 400 blocks of ice per day (but you are likely to produce more), you could earn N40,000 in daily revenue.
With the right marketing strategy, this business can be very lucrative in the long run.
Baking and Confectionery: Baking and confectionery is another profitable business in Nigeria. Nigerians have a sweet tooth and are always in need of snacks and desserts.
The market for baked goods and confectionery
products is expected to reach $5.5 billion by 2022, according to a report by
Research and Markets.
Car Rental Service: Are you tired of walking everywhere and taking public transportation?
Well, have no fear, car rental services are here!
That's right, you can now rent a car for a few hours or even a few weeks to
drive yourself and your luggage from place to place.
Just make sure you return the car on time or you might end up in court faster than you can say "vroom vroom".
And
trust us, that's not a fun place to be.
Starting a car rental business is pretty straightforward.
First things first, get some good looking and working cars.
You don't want to be renting out some old jalopies that break down every other
mile, unless your target customers are people who really love pushing cars.
Next, hire a driver. But be warned, not all drivers are created equal.
You'll need to do some serious vetting to make sure
they're not going to take your car for a joyride or sell it for parts.
And finally, make sure your driver and mechanic are not best buddies.
You don't want them colluding to charge you for
unnecessary repairs or upgrades.
So, if you're ready to hit the road and start
your own car rental business, make sure to register it for professionalism,
advertise it like crazy, and you'll be well on your way to driving off into the
sunset with a trunk full of cash.
Just remember, if you're aiming for a luxury car rental service, be prepared to shell out some serious cash for those high-end vehicles.
But hey, who wouldn't want to cruise around in a fancy
sports car or a sleek limo?
And if you play your cards right, you might even get some celebrity customers.
Imagine renting out your car to a famous
musician or actor. Talk about a great marketing opportunity!
It's worth noting that there is consistently high demand for rental cars in Nigeria, particularly during peak seasons like holidays and business trips.
The going rate for a typical rental car in Nigeria is around N20,000 per day. As a result, a typical car rental company in Nigeria could potentially earn up to N8 million per month.
Farming: Agriculture is the mainstay of Nigeria's economy and provides employment for more than 70% of the population.
The country is rich in arable land and has the potential to become a major player in the global agricultural market.
The sector contributed 24.77% to the
country's GDP in Q2 2021, according to data from the National Bureau of
Statistics.
Food Deliver/Supply Service: Are you a foodie with some serious cooking skills? Then boy, do we have a business idea for you!
It's called the food
supply business and it's a deliciously lucrative way to make some dough.
Just take it from this woman who's already killing it in the game.
She supplies food to conferences, seminars, and even bank AGMs.
I mean, who needs boring sandwiches and chips when you can have a
gourmet feast, right?
To get started, you'll need to have some serious culinary chops or hire a great chef.
Then, start building a network of event planners and organizers.
And don't forget to approach schools, companies,
and anyone else who might need some tasty treats.
Just imagine, you could be the one behind the amazing meals that people rave about for years to come. So get your apron on, start cooking, and watch the money roll in.
Who knows, you might just become
the next Gordon Ramsay, minus the yelling and cursing (we hope).
Poultry Farming: Poultry farming is a sub-sector of agriculture that is very profitable in Nigeria.
The demand for poultry products such as eggs and meat is high, and there is a growing export market for these products.
The poultry industry in Nigeria is expected to grow at a CAGR of 3.8%
from 2020 to 2025, according to a report by Mordor Intelligence.
On-Demand Car Cleaning: Listen up, car lovers!
If you're tired of wasting your precious weekend hours scrubbing down your ride, we've got a solution for you.
It's called the On-demand
car cleaning/wash, and it's the perfect business idea for anyone who loves
making things shine.
Let's face it, people are busy and stressed these days, which means they don't have time to spare for car washing.
That's
where you come in. By offering a mobile car wash service, you're giving people
the convenience they crave.
Instead of schlepping to a car wash, your customers can just call you up and you'll come to them!
That's right, you'll
show up at their doorstep with all the equipment and cleaning supplies needed
to give their car a sparkling clean.
So, get your sponges and buckets ready and start advertising your services.
Who knows, you might just become the most popular mobile car wash in town.
Just make sure you don't get so successful that you're washing cars all day and night.
Remember, you gotta have time to
enjoy your own ride!
Fish Farming: Nigeria has a vast coastline, many rivers and a large demand for fish.
Fish farming is a growing industry in Nigeria that provides high returns on investment for those who invest in it.
In 2023, the Fresh Fish sector is predicted to earn revenue of US$5.98 billion, and it is projected to have an annual growth rate of 3.78% (CAGR 2023-2027).
With a good
business plan, adequate capital, and knowledge of the market, fish farming can
be a profitable venture.
Foreigners Restaurant: Are you tired of the same old local cuisine and looking for some exotic flavors to tickle your taste buds?
Well, you're not alone!
As a potential investor, you might want to consider opening a foreign
and intercontinental restaurant in Nigeria.
Whether it's Chinese dumplings, Italian pizza, or Indian curry, people are craving for it. And guess what?
You don't even have to be an expert in making these dishes.
You can simply team up with someone who knows their way around the kitchen and voila! You're in business!
Just make sure the food is so good that it makes customers forget about their
diet and come back for seconds (and thirds, and fourths...you get the point).
You can also make your restaurant stand out by creating a cozy and inviting atmosphere, and offering exceptional customer service.
And who knows, maybe you'll even attract some famous faces!
Livestock Farming: This is another profitable business idea in Nigeria, as the country has a large population that relies on meat as a staple food.
Livestock farming can include raising cows, pigs, goats, and chickens, among others.
It requires adequate land, capital, and expertise in animal
husbandry.
Smart Phone Repair Business: Got a busted phone? No problem!
Mobile phone repair services are all the rage these days, and it's not hard to see why.
All
you need is a bit of technical know-how, a trusty laptop, and some phone parts
- oh, and the patience to deal with people who have zero chill about their
broken devices.
But don't worry, once you've fixed their
phone, they'll be singing your praises and referring all their friends to you.
And with a good location and some clever advertising, you'll have customers
lining up for your services in no time!
To start this, you'll need a vast knowledge of phone repair and a laptop.
Unless you want to fix phones with a hammer and
duct tape... which could work, who knows?
Snail Farming: Snail farming is another agribusiness opportunity in Nigeria.
Snails are a delicacy in Nigeria and there is a high demand for them, both locally and internationally.
Did you know that the Nigerian snail industry is worth a whopping 12 billion dollars? That's a lot of slimy mollusks!
Apparently, Nigerians have a huge appetite for snails, with a demand of 7.5 million kilograms per year. And who knew that snails could be so pricey?
A medium-sized snail can go for anywhere between ₦250 to ₦600, depending on its size. Looks like those snails are living the high life!
Starting a snail farm
requires a small amount of capital, but it can yield a significant profit if
done properly.
Franchise: Franchise opportunities in Nigeria are booming.
People can't get enough of their favorite fast-food brands like Mr. Bigg's, and it's not hard to see why.
Who doesn't love a piping hot meat pie?
To get started, you need to find a good location with little to no competition.
Once you've secured the perfect spot, apply for a franchise with your chosen brand.
Don't forget to practice your
best puppy-dog eyes for a higher chance of approval.
Once you're in, you'll have your very own Mr.
Bigg's fast-food joint, and you'll be raking in the dough. Just make sure you
don't eat all the meat pies yourself!
Additionally, opening a franchise can save you the trouble of coming up with a unique business idea and building a brand from scratch.
Franchisors typically provide training, support, and a proven business model to help you succeed.
However, be prepared to pay a franchise fee
and adhere to the franchisor's rules and regulations.
Horticulture: Horticulture involves the cultivation of fruits, vegetables, flowers, and other plants.
Nigeria has a favorable climate for horticulture, and there is a growing demand for fresh fruits and vegetables.
However, it requires specialized knowledge, capital investment, and
a good marketing strategy.
Airline Business: Welcome to the sky-high business world of airlines, where you don't need a cape to fly like a superhero, but a plane or a helicopter will do the trick!
Sure, the costs to start an airline can make your
wallet feel like it's in turbulence, but once your airline takes off, the
profits can reach for the clouds!
However, the airline business is not for the
faint-hearted, as it requires careful planning, proper management, and
adherence to strict safety regulations to stay afloat in the competitive
market.
Agribusiness: Agribusiness involves the entire value chain of agricultural production, from the farm to the market.
This includes input suppliers, farmers, processors, marketers, and retailers.
Investing in
agribusiness can be a lucrative venture, but it requires a comprehensive
understanding of the agricultural sector and market trends.
Palm Oil Business: Palm oil is like the Beyoncé of oils.
It's a superstar ingredient that makes everything better from your skin to your stew.
It's no wonder that companies from all over the world are willing to import
this liquid gold from Nigeria. Investing in palm oil is like investing in a
goldmine!
Palm oil may not be shiny like gold, but it's definitely worth its weight in oil.
It's a versatile ingredient used in many products, from soap to snacks.
And it looks like Nigerians love their palm oil so much that they can't get enough of it!
With a population of almost 200 million people, they consumed a whopping 1.34 million MT of palm oil in 2018, which is almost half of all the fats and oils they consumed.
But, here's the twist: local production only managed to churn out 1.02 million MT, leaving a shortfall of 0.32 million MT!
Looks like palm oil is in such high demand in Nigeria that even the trees are feeling the pressure to keep up with production!
The demand for palm oil from Nigeria is high,
making this a profitable business idea. So why not get in on the palm oil
party?
Food Processing: Food processing is the transformation of raw agricultural products into value-added products. This includes the processing of grains, fruits, vegetables, and meat products.
The food processing industry in Nigeria is growing, driven by the high demand for packaged and processed foods.
As an investor, you can explore opportunities in the sector, especially
in areas such as packaging, branding, and marketing.
Bus Transportation Business: How about getting into the commercial bus business in Nigeria?
Well, buckle up and get ready for the ride!
This transport
system involves moving people and their belongings from one place to another,
and while it can be a bumpy road, it's also a potentially lucrative venture.
Just be prepared to navigate the potholes, traffic jams, and occasional roadblocks that are part and parcel of the Nigerian transportation system.
And don't forget to register with the local bus
labour union, because if you're not unionized, you're just roadkill!
Beverages Production: Nigeria is a country with a population of over 200 million people, and we all know how much Nigerians love their beverages.
So, if you're looking to invest in the beverages production business in Nigeria, you can be sure that you'll have a large market to sell your products to.
Plus, with the increasing demand for healthy and natural drinks, you can always add a unique touch to your beverages production by using local ingredients.
Just make sure you don't mix up Kunu with Zobo, or you might end
up with a drink that tastes like shoe polish.
Beauty Products Retailing: Nigerian women are known for their love for beauty products, and the beauty industry in Nigeria is worth billions of Naira. As an investor, you can tap into this market by starting your own beauty products retailing business.
Just make sure you stock up on the latest products and keep up with the latest trends in the industry.
But be warned, if you don't
know your eyeshadow from your eyebrow pencil, you might end up looking like a
clown instead of a beauty queen.
Cattle Farming: Cattle farming is a cash cow in Nigeria. With beef being a staple in the Nigerian diet and cow milk considered as valuable as liquid gold, investing in this industry is a no-brainer.
However, beware of the mooody nature of cattle and the potential for cow-tastrophes to occur, such as escaped cows terrorizing the community or stampeding through the town.
So, ensure that you have a good pasture management plan in place and don't have a cow, man!
With proper care and management, this could be the
beefiest investment you'll ever make, giving you a stake in both the dairy and
meat industries in Nigeria.
Cosmetics Production: This business idea is similar to beauty products retailing, but with a twist. Instead of just selling other people's products, you can start your own cosmetics production company.
With the right formulas and packaging, you can create a brand that stands out from the rest.
Just be sure to do your research and come up with unique products that cater to the needs of the Nigerian market.
And remember, when it comes to makeup, less
is always more.
Soap Making: Soap making has been a long-standing business idea that has stood the test of time.
Even in today's world, it remains a profitable venture.
As an investor, you can seize the opportunity to start your own soap making business in Nigeria and meet the local market's demand for high-quality and reasonably priced soap products.
However, it's
essential to use natural ingredients that are kind to the skin, or you could
risk having customers with a severe sunburn-like appearance.
Plus it looks like Nigerians really love their soap!
The soap market in Nigeria is valued at a whopping N18 billion!
Can you believe that?!
And get this, over 800,000 tonnes of soap are churned out every year just to meet the demand. I guess Nigerians just really like to stay clean and smell nice, huh?
And if you're wondering how they came up with these numbers, it's based on the assumption (conservative estimates) that each person uses just one 75g tablet of soap per week for laundry and bathing.
That's a lot of suds!
Detergent Production: Looking to make a clean profit in Nigeria?
Detergent production is a sudsy solution that can leave you smelling like roses.
As an investor, you can provide various cleaning products for the market.
However, make sure to label your products properly; otherwise, you
might end up with customers who confuse drain cleaner for mouthwash.
Taxi Service: Taxi service is a transportation business that provides customers with a convenient and reliable means of getting from one place to another.
As an investor, you can start your own taxi service in
Nigeria by either purchasing or leasing vehicles and then signing up drivers to
operate them.
Customers can book rides through a mobile app or website, and payment is handled electronically, providing a seamless experience for both drivers and passengers.
With the rising demand for
affordable and convenient transportation, a well-managed taxi service can be a
profitable business venture in Nigeria.
And one can simply book a ride through popular ride-hailing apps like Uber, Oma, and Oga Driver.
As an investor, you can also join the platform by providing your own vehicle and acting as a chauffeur.
Just be careful not to end up with a passenger who insists on playing DJ and singing along to their favorite tunes at the top of their lungs.
By the way, the typical monthly salary range for most Car, Taxi, and Van drivers in 2023 is between ₦24,709 and ₦60,924. At the beginning of their career, a driver in this field can expect to earn between ₦24,709 and ₦64,267 net per month.
With that being said, the taxi service industry is a lucrative business idea in
Nigeria that can generate a steady stream of income.
Cleaning Services: Cleaning Services: If you don't mind getting your hands dirty, starting a cleaning service in Nigeria can be a lucrative business idea.
You can offer a wide range of cleaning services to both residential and commercial clients, from deep cleaning to regular maintenance.
Just be sure to hire reliable staff and use eco-friendly cleaning products, or you might end up with a customer who complains about their floors being sticky enough to skateboard on.
And remember, the key to success in this business is
to leave your clients' spaces cleaner than a monk's kitchen!.
Dry Cleaning: Last but not least, if you're looking to invest in a business that is sure to keep you afloat, consider starting a dry cleaning business.
With the busy lifestyles of Nigerians, dry cleaning services are in high demand, and you can tap into this market by providing quality and affordable services.
Just be sure to have a backup generator, or you might end
up with a pile of wet clothes during the next power outage.
More Super Lucrative Business Ideas for Nigeria
are as follow!
1.
Laundry Services
The laundry service business is an important and growing industry in Nigeria, as more and more people are seeking convenient and efficient ways to keep their clothes clean.
With the rise of urbanization and changing lifestyles, there is a growing demand for laundry services in cities across Nigeria.
The market is highly competitive, with both established companies and new entrants vying for market share.
However, there is still significant room for growth, particularly in untapped regions and customer segments.
To succeed in this market, laundry service providers need to focus on delivering high-quality, reliable services, while also leveraging technology and digital marketing to reach and engage with customers.
With the right strategy and execution, the laundry service business in Nigeria can be a lucrative and rewarding opportunity.
2.
Car Wash
3.
Transport Services
4.
Haulage Services
5.
Courier Services
6.
Printing Services
7.
Book Publishing
8.
Magazine Publishing
9.
Newspaper Publishing
10. Advertising Agency
11. Public Relations
12. Consulting Services
13. Business Coaching
14. Financial Planning and Advisory
15. Investment Advisory
16. Real Estate Agency
17. Property Development
18. Property Management
19. Rental Services
20. Travel Agency
21. Tour Guiding
22. Hotel and Accommodation Services
23. Event Management
24. Music Production
25. Music Recording Studio
26. DJ Services
27. Fitness Coaching
28. Gym and Fitness Centers
29. Sports Betting
30. Gaming Centers
31. E-Commerce Retailing
32. Dropshipping
33. Affiliate Marketing
34. Import and Export
35. Car Dealership
36. Motorcycle Dealership
37. Furniture Retailing
38. Home Appliances Retailing
39. Electronics Retailing
40. Toy Retailing
41. Pet Services
42. Education and Training
43. Language School
44. Private Tutoring
45. Skill Acquisition Center
46. Vocational School
47. Computer Repair Services
48. Mobile Phone Repair Services
49. Electronics Repair Services
50. Plumbing Services
51. Electrical Services
52. Carpentry Services
53. Painting Services
54. Masonry Services
55. Welding Services
56. Hair Styling and Barber Services
57. Health Care Services
58. Dental Services
59. Optical Services
60. Pharmacy
61. Medical Laboratory Services
62. Beauty Spa
63. Massage Services
64. Art and Crafts Retailing
65. Gift Shop
66. Jewelry Making and Retailing
67. Florist Services
68. Event Rentals
69. Party Planning
70. Photography Studio
71. Video Production
72. Product Packaging Services
That's it for lucrative businesses in Nigeria, if you guys want to add something, please let me know in comment down below.
And if you want more business ideas, please check out my website.
TAGS Business Ideas Home Based Business Nigeria Small Business Ideas
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