There are numerous list of lucrative business in Nigeria, but this compilation is completely
different from the ones you’ve been reading. The difference between my articles
on lucrative business in Nigeria is that, most of the businesses listed here
are thriving businesses.
They’ve been done by
several Nigerians and they’ve proven to be a very successful investment over
time. These businesses are often overlooked by Nigerians, but the few that
invest their time and money into it earn numerous profits from it.
LUCRATIVE BUSINESS IN NIGERIA
Most of these laundry chemicals can be made within the
confines of your house, with little startup capital. Once you have the basic
knowledge of how they’re produced, and a little capital to hit the ground
running, the market for selling your produced laundry chemical is readily
available.
With a budget of less than #20,000 you can begin you laundry
chemical production. Some people have been asking questions as regards to
NAFDAC registration of products.
While I don’t have solid information about NAFDAC rules against
the production of laundry chemicals; I know a number of people that are into
this business (most of them are students) and they’re making huge cash from it,
take note that their product is not registered by NAFDAC.
Block Industry: In
my area, there are about three building block industries. Nigeria is a
developing country; which means there is a construction work going on every now
and then.
Starting a block industry is not complicated, once you are
able to secure the machine, other materials needed can be sourced locally. You
would have to hire laborers that would help with the making of the building
blocks. Sand and cements can as well be
purchased from local supplier.
Getting people to order for your building block might
require some sort of network. Normally it’s easy to get noticed provided your
business is located in the less crowded area of the city. You can also reach
out to building contractors, bricklayers and planners to increase your business
sales.
Laundry Business: The
laundry business is very lucrative in Nigeria; especially if you live in big
cities or student environment where people are generally too busy to do their
laundry.
Starting a laundry business does not require a huge capital.
Once you’re able to procure two or three washing machine, you can do the
ironing yourself of hire an assistant to help out with ironing and delivery of
clients cloth.
Dry cleaning a shirt is about #200; now imagine cleaning
about 500 shirts weekly! That’s about #100,000. You can do much more depending on
your business location and marketing efforts. You can make a lot of money by
sourcing for clients in the private sectors; especially bankers and office
workers.
Poultry Farming: This
is one of the most lucrative businesses in Nigeria. Nigeria have the best
weather and natural environment for poultry farming. Depending on your budget
and available piece of land, you can venture into various niches in the poultry
farming.
Quail bird farming is currently one of the most profitable
business in Nigeria right now, with a #20,000 investment on pen and purchase of
the birds, you stand a chance of making over 200% return on investment in less
than three months.
Pig farming, Layers birds, cockerels, and broilers are all
poultry birds that could be rear for maximum profit in Nigeria. Snail rearing and
Grasscutter farming are also lucrative business ideas that would result into
maximum profits when done properly.
Rental Services: The
rental service is a really big industry and it has many niches and sub-niches
that could be tapped into; depending on the amount of your investment capital
and location.
If you have a small budget and you’d like to go into the rental
service business, you can explore the party rental service; all you have to do
is buy some serving plates, pots, and other cooking utensils and put them up
for rentals. You can also take it a bit further by venturing into chair and
canopy rentals.
If you have huge base capital, you can venture into car
rental business. You can procure cars and buses and put them up for hire. Car
rental services have great potentials in big cities like Lagos and Abuja.
The rental service is big, and you can take advantage of the
robust market, make enough money and name for your business before it gets
crowded.
Web Design and Development:
With various websites coming online on daily basis; the demand for web designers
and developers has never been higher. You can invest in the web design business
by starting a web design firm.
Starting a web design business does not require huge startup
capital. All you need is the technical know-how of the business. Once you have
the technical knowledge of the business; the next thing is to find paying
clients in other to build a project portfolio for your business.
Typically, Web designers charge as much as #60,000 for a
project that would take them less than a day to complete.
Graphics Design: You’ve
probably seen fliers, posters and banners today. They’re everywhere, you see
them on your way to school or work, and you get them in the bus and on the
street.
These banners are designed and printed by graphic designers.
And they earn handsomely for their creative effort.
Starting a graphic design business does not require a huge
capital. Once you have a laptop computer and a working knowledge of Corel Draw,
Photoshop and other relevant design software, you’re good to go.
You can promote your business in the church, in school,
amidst your friends and at your work place.
Car Washing: I
have written about the car washing business here, and it’s still one of the
most lucrative businesses in Nigeria. You can start this business with less
than #20,000 and make a return on investment of over 200% in less than a month.
If you have huge investment capital you can establish an
elite car wash drive through business. Although car wash machine is a little
bit expensive; the return on investment is equally worth it.
Medicine Store: You would need a license to start the drug
store business. Once you secure a license then you’re in the right venture.
Over the counter drugs are hugely consumed in Nigeria, and the profit is
insanely high.
Starting a medicine store is one of the most profitable
small businesses in Nigeria.
Importation Business:
The importation business is experiencing significant boom lately. And wise
investors are putting their money into the business.
You can make huge income from the business by ordering cheap
items from china and selling it on popular ecommerce stores in Nigeria (such as
Jumia and Konga).
Catering Services: There is always a party going on every
weekend in Nigeria. This outing nature of Nigerians makes catering service one
of the most lucrative businesses in Nigeria.
With the night contact and proper knowledge of the business,
you’re in to make serious profit every weekend.
Hotel Business: If
properly located; a hotel business can make over #1,000,000 in profit every
week. In Lagos, there are numerous hotels, but each of the ventures still makes
huge income every week.
Although it’s a little bit expensive to start, but when you
have the capital at hand, the return on investment is superb.
Ice Block Production:
Keeping in-line with the party habits in Nigeria. It makes the demand for
ice block very high, especially during weekends.
Procuring an ice-block machine might cost about #200,000
which is the major investment you will make when starting out this business.
Once the machine is procured, you can relax and start making profit on weekly
basis from the venture. And be rest assured that you would make maximum profit
within 6 months of production.
Tutoring Business: This
is the most lucrative business in Nigeria for students and fresh graduates. You
can start a tutoring business with zero capital while you rely on what you know
already.
If you intend to run the business on a large scale, you can
always hire tutors for other subjects.
Dog Breeding: Dog
breeding business is very lucrative business. And depending on the breed of
dogs, you can make as much as #1,000,000 in profits over a year.
Day Care and Crèche
Business: This business is very profitable in the city, most especially in
the working class environment. This business can only be done on full time
basis, and it might take some time before you get people to trust you with their
kids.
But once everything is put in place, maximum profit is
guaranteed from this business.
Horticulture Business:
If exterior decoration and environmental beautification is something that
fascinates you, then horticulture business is your best bet.
Party and Interior
Decoration: This business is very similar to the previous one listed on
this list. But it is much more lucrative considering the number of parties that
goes on every weekend in Nigeria.
Recruiting/CV Writing
Agency: Job hunt in Nigeria is a very difficult one, and many graduates
would rather have an agency do the job hunting for them. Big companies like
Jobberman and Jobrapido are making a fortune from this service and you can
venture into the same life of business.
You can also include CV writing and career training in your
business venture plan.
Advertising Company: With
the popularity of digital advertising across the country, you stand a chance of
making as much as #200,000 in profit from advertising business.