The investment opportunities in Nigeria are not limited to the list below. With a little digging and research, you will surely uncover more of these opportunities. However, the point I want to stress is that having the capital to invest in these opportunities does not mean you will succeed at it.
More important than your capital and the business opportunity is to make sure you have adequate understanding about the industry you intend investing in. Knowledge and experience are the prerequisites for low risk investing.
Livestock Farming
Do you know that one of the fastest growing business opportunities in Nigeria
is catfish farming? The primary reason I listed catfish farming as one of the
fastest business opportunities in Nigeria is because it’s an emerging industry
that hasn’t reached its peak or full potential......
The major players in this business are usually regional players. What this
means in essence is that each major player in the catfish farming industry is
focused only on a particular business terrain within the geographical location
of the farm.
Now for those who don’t know, there is a bill being passed by the federal
government of Nigeria to ban the importation of frozen fish. One of this bill is
passed into law by the national assembly, the local fish farmers will smile and
you will be left behind. So why not position yourself now?
With respect to poultry farming, the ban imposed by the federal government of
Nigeria with respect to the importation of live or frozen poultry birds has
only helped explode the demand. To be honest with you, livestock farming in
general is a booming business in Nigeria and the trend is not dying anytime
soon.
You can even start this business from your backyard. With 150+million mouths to
feed daily, there will always be demand for livestock products. However, lack
of technical know-how and the use of crude equipment are the major factors
hampering the growth of this industry.
If you can come in with adequate knowledge and the patience to nurture this
business, you will reap immensely. Now you can choose to either venture into
livestock breeding of animals or better still, you can stick to livestock feed
production or equipment retailing.
Poultry farming – Egg production, meat production, hatchery or day-old-chicks
production, etc.
Cattle Farming – Dairy (milk) production, beef, etc.
Rabbit Farming
Goat Farming
Sheep
Tilapia Fish Farming
Piggery
Grass-cutter Farming
Snail Farming
Quail Farming
Agro-Products Exportation
Nigeria is blessed with a lot of food and natural resources; and most of these
natural resources are raw materials needed for the production of some finished
products. Every day, tons of raw materials and food products leave the shores
of Nigeria to countries such as India, Vietnam, China, USA, UK, Brazil, etc;
yet, the demand is never met.
You can become an exporter by simply registering with the Nigerian Export
Promotion Council and decide on the specific product you wish to export.
Examples of products highly in demand both within and outside Nigeria are Chili
pepper, Mango, Kola nuts, Bitter Kola, Cassava flakes (Garri), Cocoa,
Groundnut, Yam flour, Cashew nuts, etc.
However, if you think you don’t have the capital or time to engage in
agro-products exportation, then you can stay local by buying and selling them
within the country. A good example of a product you can buy and sell for huge
profits is Palm Oil.
Mining
Nigeria is blessed with a lot of mineral resources like Limestone, Coal, Iron
ore, Bitumen, etc. Aside this, the mining industry in Nigeria is set to take
off because the federal government implemented a policy to drive
forward the mining industry by declaring the importation of mining equipment
duty free. The government is also going after many dormant investors who were
granted mining licenses but are not utilizing it. This act I believe, will spur
the growth in the mining sector. If you have the financial capacity and a team,
you can position yourself in this sector.
Setting up a private mini refinery
There are lots of business opportunities in the oil and gas sector. Building a
private refinery and refining crude oil is another business you should look
into because there is a lot of potential in it. The federal
government announced the partial removal of subsidy and with a long term plan
to totally remove fuel subsidy. What this means in essence is that petroleum
product importers will now sell as they buy; thus bringing in competition and
it is a known fact that 80% of petroleum products consumed in Nigeria are
imported.
Now with the total removal of fuel subsidy, investors will now have the
opportunity to set up their own refinery and produce fuel. Are you among those
that think the total fuel subsidy removal is a pipe dream? Then think again
because Aliko Dangote raised $9billion for the setting up of a
refinery; which will be sited in Ondo state. This project was relocated to
Lekki Free Trade Zone, Lagos and is set to commence operation.
As the government is undergoing research and consultation to set up
modular refinery (an opportunity) in 6 oil producing states in the south. This
is curb the activities of pipeline vandalism and illegal refining of crude oil
(a problem).
Honestly, i understand that not everyone have the financial capacity and
technical know-how to invest in a private refinery. Well, you can still tap
into the oil and gas sector by setting up a filling station, starting a mini
kerosene retailing depot or establishing a cooking gas retailing outlet. Which
ever one you choose, you will surely make money. Enough said.
Fast Growing Small Scale Business ideas in Nigeria
Inland waterway Transport
There are lots of opportunities in the transport industry and inland waterway
is one of them. Nigeria has a broad network of inland waterways comprising
rivers, creeks, lakes and seas; yet, transportation still remains a challenge
because investors are yet to tap into water transportation.
A lot of countries such as Italy, Thailand, etc have effectively been utilizing
their waterways as a means of transport; thus reducing the traffic congestion
on the road. All you need to do is to incorporate a company, obtain license
from the state and federal government, import or purchase some locally
fabricated boats; and you are in business.
Establishing a Television and Radio
Station
Now it is a known fact that the mass media industry is saturated in Nigeria.
However, this is only true for some cities in Nigeria such as Lagos and Abuja.
I have travel through several parts of the countries and discovered that most
states have no private TV station, and only rely on the government own TV
stations; which are very incompetent, uncreative and unreliable.
I see an opportunity for entrepreneurs and investors with interest and
competence in broadcasting or mass media. You can either choose to setup a
radio station or TV Station. You think you don’t have the funds for a license
and infrastructure to run a conventional TV and Radio station, then you should
consider starting an online radio station, podcast or Youtube Video Channel. A
lot of Nigerians have made fame and money running on a low cost model by simply
using the internet. A few names you might know are Mark Angel Comedy (the
famous Emmanuella), Linda Ikeji TV, LaughPillsComedy, PulseTv, etc.
Setting
up a security company
There is a huge demand for excellent security services in Nigeria. As the
government battle to improve the security situation in the country, individuals
and corporate entities are now becoming aware of the fact that security is not
the responsibility of the government alone; it is a collective responsibility.
Hence, the current increase in demand for security guards, bodyguards,
executive protection professionals and security gadgets or devices.
As an entrepreneur or investor, you can setup a security guard recruitment or
training company, or you can setup an executive protection or bodyguard agency.
Also, you can import and retail security products and safety devices.
Sewing
Of Specialized Uniforms
There are over 500 schools (both Crèche, primary and secondary) in Lagos state
alone; and each of these schools have a specific uniform or attire for their
students. Okay, let’s look beyond educational institutions. Do you know that
other individuals and corporate organizations are in need of uniforms for their
security personnel, staff, etc?
There are also a lot or military (Army, Air Force, Navy), paramilitary (Civil
Defense Corps, Police Force) and non-paramilitary (Road Safety, Traffic Warden,
Kick against Indiscipline, Vigilante groups, etc) organizations in Nigeria that
make use of uniforms. You can position yourself as a uniform supplier and make
money from it.
Construction Company
Nigeria is still a developing country especially in the area of infrastructure
but this is set to change in the nearest future. Massive constructions are
currently on-going in Nigeria ranging from bridges, roads, towers and
skyscrapers, etc. If you run a construction company oversee, or you have the
financial capacity to assemble the needed team and machinery for a construction
company; then this is a business you should invest in.
Real Estate Development
I have met a lot of individuals with money piling up in the bank, but they
don’t seem to know what to do with that money. Yet, on every business trip I
make, I hear stories of people facing accommodation problems; not because they
can’t afford it but because there is none within their choice of location.
Also, I hear woeful stories from students in various universities and other
high institutions who live under harsh conditions; not because they want to or
can’t afford a comfortable place to live; but because they is no conducive
apartment in close proximity to the institutions.
I also know the stress, effort and resources it took me before I got an office
space both within and outside Lagos. What these facts or complaints are
pointing to is that there is a massive need for buildings, both residential and
commercial. It is a known fact that shelter is one of the basic needs of man.
Now for those who wouldn’t want to go through the ups and downs of running a
business, you can choose to invest in development of hotels, school hostels for
students, shopping malls, residential apartments, events and conference halls,
etc.
Set Up A Writing Company
If you are current with trend, you would have observed that most jobs in the
United States are now being outsourced to countries like Philippines, India,
China, etc. And as things stand now, a trickle of such outsourcing jobs are
coming to Nigeria and one of such jobs is Article Writing or Ghostwriting. You
can consider platforms such as Fiverr, Elance, Freelancer, etc.
Do you have passion and skill for writing? If yes, then you can either choose
to write from home as a self employed freelance writer or you can setup a
company, employ competent writers and source for jobs online. This business is
easy to get into and it is very profitable.
In fact, let me put it to you that you don’t even need to source for writing
from foreign countries, and deal with payment hurdles. There is a huge demand
for well written content locally, and virtually a lack of quality writers. I
know this because my company is also a player in the Media/Publishing industry.
Call Center Agency
Have you called the customer care service of a telecom network before? Or have
you tried sending a message or complaint to a corporate organization before? Do
you know that those who take your calls, complaints and respond accordingly are
not employees of the companies you patronize; neither do they operate in the
premises of the company? If you are hearing this for the first time, then
welcome to the world of “Call center outsourcing.”
You can setup a call center agency and work for big companies on a contract basis.
One sweet fact about this business is that you can always start small by
becoming a call center agent from home, as it doesn’t require much startup
capital unless you want to scale up by employing more helping hands.
Recruitment
Agency
The labour market is becoming tougher and there are over five million
unemployed youths in Nigeria. Another hard fact is that companies are no longer
employing full time in-house staff; they are now using the services of
recruitment agencies to employ people based on contract basis.
This strategy is aimed at reducing the cost of doing business by avoiding the
cost of conducting a recruitment exercise and also avoiding employee claims and
benefits. This is the sole reason why banks and other companies are sacking their
workers on daily basis.
So rather than fight the trend, why not profit from it by setting up a
recruitment agency and connect jobseekers to their dream jobs. You can also be
a corporate executive headhunter and make money poaching competent staff from
one company to another. If this is too capital intensive for you, then you can
setup a resume writing service from home and profit from the trend.
Importation
Of Wears
Clothing is another basic need of man. Regardless of the economy, people must wear
clothes and this includes shoes, bags, underwear, perfumes, etc. Now there is a
fast growing trend now and that is “Used clothes” or “Recycled clothes,”
otherwise called “Okirika.”
Since the economy is getting tougher and there’s need to be clothed, the masses
have resolved to buying used clothes rather than new ones. Still yet, there is
a market for new clothes; for men, women, and kids. You can source your
materials from China, Hong Kong, Italy, France, Dubai, India, etc.
Haulage and Logistics
Haulage and logistics is another booming business in Nigeria because regardless
of the weather, people must haul their goods from one location to another. In
fact, haulage or trucking business is one of the most profitable businesses so
far; though it is management intensive. However, you can start with just a
truck and see how it goes.
You can choose to focus on hauling containers for clients from the seaports to
their various destinations or better still, you can choose to haul products of
specific companies such as breweries, production companies, etc. You can also
haul perishable goods from farms and villages to the marketplace or you can
haul specialty products such as frozen foods, petroleum products, gas, etc.
Now there is also an opportunity for those who want to venture into haulage
business but do not want to be bugged down by management requirements. All you
need to do is to buy a truck and contract it to a Haulage and logistics
company; which will in turn pay you a specified amount weekly or monthly based
on agreement.
Outsourced Bus Service
This is another form of haulage business, but this time you will be lifting
humans. This is a business that requires providing transportation services to
organizations that cannot afford to buy a vehicle in-house. Your clients in
this case can be schools, religious organizations, NGOs, corporate bodies, etc.
Some corporate organizations can’t afford an in-house transport system for its
executives and staff, so this is where you come in. You provide the cars or
buses, provide the drivers and you are paid on a monthly bases or contract
bases for the use of your transport services.
Another area of target is schools. Most schools would like to provide transport
facilities for their students but they can’t afford it and this is where you
come in. You provide a bus service system and send out a proposal to schools to
use your bus services. Just imagine 20 or more young schools jointly using your
student bus service system and you will catch the vision of this idea.
Small Scale Business Investment Opportunities in Nigeria
e-Services
Nigeria is catching on with the rest of the world with respect to technology.
If you are technologically inclined, you can setup shop in Nigeria and start
offering e-services to clients. Example of such e-services include Web
designing and development, Web hosting, App development, Digital marketing
services, Search Engine Optimization services, Banner design services, Bulk SMS
services, Online registration of exams such as JAMB, WAEC, professional
courses, etc
Daycare
Center
The demand for quality childcare service is increasing daily. Parents are now
working harder just to generate enough income to keep the family going, thus
leaving them with less time for the children.
Now to be honest with you, there are a lot of daycare centers existing but only
a few are providing exceptional services; and parents that cherish their kids
are never comfortable leaving their kids in a child care center whose
environment is dirty. If you can come in with exceptional service and
creativity, you will make money from this business. Another thing you must know
is that you can start this business from home.
Now for those who lack the capital and experience to setup a full-scale
childcare center, you can still make profit of this niche by starting a small
scale babysitting service or Nanny agency.
Training Centers
Every year, millions of people sit for examinations and tests in Nigeria and
most of these people usually need some kind of training's or tutorials. You can
position yourself as a provider of such training and make money off this niche.
Examples of training's you can offer include skill & vocational acquisition
training, corporate management skill training, etc. You can also conduct
tutorial for individuals writing professional exams like ICAN, WAEC, UTME, A.
LEVEL, etc.
Waste Management
Waste management is another business with a future potential because Nigerians
are yet to imbibe the habit of proper waste disposal. However, states like
Lagos have been doing a lot to encourage proper waste disposal and management.
Now there are several businesses you can start within the waste management
niche and these include waste recycling, waste disposal, junk hauling, organic
fertilizer production, etc.
Food Processing
Another profitable industry to consider is the food processing industry. The
concept of this industry is simply to take raw food materials and turn them
into finished products. In fact, there are a lot of businesses you can do in
this niche and examples of such businesses include Tomato puree production,
Frozen food production, yogurt production, Vegetable oil production, Garri
Processing, oil palm processing, groundnut processing, Fruit juice production,
Rice milling, etc.
Alternative Power Installation
As the world goes green, and Nigeria battles her power supply challenges; there
is an already established opening in Nigeria’s power sector. Even though the
government has taken steps to deregulate the power sector by granting licenses
for Independent Power Plants, granting a free import duty for the importation
of power generation equipment and commissioning several power projects, this
will never hamper the growing demand for alternative power generators such as
solar energy, wind mills, Inverters, etc. You can either make money by
importing and retailing these materials or you can choose to focus on
installations.
Plantation Farming
Do you have a fertile vacant land and you know that you won’t be developing any
structure on it in the nearest future? Then why not start a livestock farming,
crop cultivation or plantation farming. There are a lot of cash crops you can
plant, nurture and forget; and they will keep providing you with steady returns
annually. Examples of crops you can start a plantation around are Orange,
Plantain, Kola nut, Oil palm, Cocoa, Cassava, Yam, etc.
Manufacturing
You can also venture
into small scale manufacturing of products that are in daily need. You don’t
need to build a factory or industrial plant; you can start on a small scale
from your room or a rented store or apartment. Products you can start
manufacturing include Toothpicks, Tissue paper & Serviette, chalk
production, candle, Match sticks, nylons and polythene bags, cartons, paper
bags, etc.
Bottled Water Production
I
get calls from individuals almost on daily basis who are interested in setting
up a “sachet water” (Pure water) production plant. Now let me tell you the
honest truth, the sachet water or pure water business is saturated and the
business may die off very soon. Why did I say this? Well, I got information
from a reliable source that there is a long term plan to ban the production of
sachet or nylon water; so as to stem environmental degradation and checkmate
blocked drainage.
So once this bill is passed into law, the sachet water production industry is
toast. The only solution I foresee that can keep this business afloat is the
establishment of a nylon recycling plant. However, to avoid being a victim of
this yet-to-be proposed policy, it is advisable you venture into bottled water
products and establish yourself as a brand.
Bars
and Clubs
If
not a hotel, you can consider investing on a bar or a night club. Again, it
attracts tourists who are looking for an active night life in countries like
Nigeria. Plus, many local young adults in Nigeria seek a fun night life. If you
are interested in investing in the entertainment industry, then you should consider
starting a night club or bar.
Cold
Room (Frozen Food)
Despite the high number of livestock farmers in Nigeria, frozen fish and
chicken are still being smuggled into the country through the border because
there is a market for it. Some people don’t want to go through the stress of
killing and preparing fowls for eating, so they prefer to buy ready-made frozen
birds. With the right plan and a strategic location, you can make millions by
investing in building and operating a cold room.
