Nigeria as a country has the population that can buy any good product you bring to the market. For this reason, there are numerous businesses anyone can venture into.
As an individual looking to start any of these ventures in Nigeria, you should always look for opportunities along your expertise. Not only should you concentrate in your field, but also look for more opportunities that may come around you. As a general rule of thumb, there are business opportunities everywhere. Most importantly, you should look to solve people’s problems. By doing so, you should monetize your efforts and services.
Taking each one of them one after the other, you can consider the best one for yourself.
Agriculture is a big industry in Nigeria. Getting yourself into providing what people eat on a daily basis is an advantage. When you look top advanced countries that are into agriculture, such as UK, USA, China, Brazil, India, USA and Turkey, you will see how agriculture is also adding to the country’s economy.
Nigeria has the potential of getting close to what these top countries have achieved, if we embrace agriculture and invest more into the sector.
2. Online business
This is my favourite because I am also involved in this. I have made money in it and still making money. The internet is a big place and can accommodate many of us.
Starting an online business is rewarding.
There are different types of online business with great potentials in Nigeria. Although, many individuals talk about blogging and affiliate marketing, but there are other aspects that people are not looking into.
For example, I started an online fashion accessories business in Nigeria few years ago; and today, this website is doing great. As a matter of fact, many people know us for what we do. That is to say, our brand is growing each day.
You can build specialized online store too. This can allow people to shop online and the products get delivered to them, a good example is Amazon.
3. Consultancy Business
I see consulting as another sector in Nigeria that is underutilized. That is to say, we do not have many experts in it.
Are you good at what you so? If so, you can start a consulting firm to generate income for yourself; as it will give you greater advantage over others. Another key point is that many of the big companies in the country need specialists to solve various operational issues. If you are good, there is nothing stopping you from getting in touch with them.
She Lead Africa – a community that helps young African women achieve their professional dreams, recognizes that manufacturing in Nigeria is a good venture to go into.
Nigeria is full of raw materials that are underutilized. These raw materials are good for manufacturing processes. Not only is the environment good for production of various goods, but also has the government backing.
The Nigerian government are doing all things possible to expand the manufacturing capability in the country. For this reason, the government are encouraging individuals and private entities to consider going into manufacturing.
In fact, the government is offering incentives for manufacturers that are able to locally source their raw materials, for example, agro-allied manufacturers processing foodstuffs such as fruit juices and vegetable oils.
The country depend on oil revenue, but as discovered that manufacturing and agriculture (mentioned above) can also increase the country’s economy. Any manufacturing industry that provides multiplier effect solutions for the economy is also looked upon favourably.
5. Transportation Business:
Indeed, transportation business in Nigeria is highly profitable with potentials to bring in constant revenue regularly. One good thing about the business is that the return on investment on it is also high.
Considering the fact that the Nigeria population is high, and with high movement of people, there is greater necessity for transportation and other facilities. Also, goods, raw materials and animals needs to be moved from one location to the other. By providing good transportation business, you will be solving other people’s problems. This in turn will generate revenue for you.
These are just five of the various business opportunities in Nigeria. There are few others you can look into.