Are you a prospective entrepreneur looking for the most profitable business ideas you can start in Nigeria? I assure you this article will give you the best business ideas you can start up in the country in a small scale or large scale. The list of the most profitable business ideas we will be dropping here are genuine business, not just randomly selected ideas that can make you lose your capital.
These business ideas have been well researched by business consultant and they have been recommended to prospective entrepreneurs and those who are willing to diversify their income with different business ideas in Nigeria. Before I drop the best business ideas we have in Nigeria I want us to look at the best reason why it is necessary to start up a business in Nigeria.
Why it’s necessary to start up a business in Nigeria
Due to the dwindling economy in Nigeria it is imperative for an average Nigerian to start up a business in the country. There is an increase in inflation rate from the past government to the current government which has made it impossible for salary earners and government workers to manage the little resources they get from their place of work.
There are no jobs in the country, foreign companies are packing out and retrenching workers due to insecurity challenges and bad economic policies from the government. These are some of the reasons why we think it’s necessary to start up a business in Nigeria and instead of waiting for the government that comes up with empty promises or travelling out of the country to start from nowhere it’s best advisable to tap into the honey and milk flowing in our lands.
Most of the top richest men and women are business owners who started with just a single business idea. You can start up a business in Nigeria with a little capital and grow as time goes now. Now these are the most profitable business idea we have researched and packaged for you.
Profitable business idea in Nigeria
Fish farming is one of the popular agribusiness one can start in Nigeria due to its high profitable margin.
Before the modern farm practise of fish farming, the only means of getting fish is by setting up a trap in the river through a trial and error method. But recent practise in the agro system has made it possible to grow fish in the farms with ponds. If you are willing to put in some money into agric business, catfish farming should come first on your list.
You can start up this business idea in a small scale or large scale depending on your capital.
What if I tell you that starting a laundry business in Nigeria is payable than some white collar jobs. It’s Hard to believe right? Well the situation we found ourselves in the country has made side hustles more lucrative than most office works where people spend all their days and time to depend on salary that can’t sort out their bills.
There are many people in the neighbourhood who detest the chore of cloth washing, that’s why it’s important to leverage on that opportunity to rake in some cash. Imagine having more than 20 customers you make laundry for every weekends. Did I hear you say WOW? Yes that’s pure joy.
Starting a laundry business in Nigeria is not that capital intensive and can be done with little capital as a start up.
If you are having a hard time in this current economy and equally looking for any lucrative business you can put your little capital into then you need to consider Uber business.
Uber transport service is a technologically based taxi firm that helps people move from one place to the other using the companys mobile application on their smartphone. Users who are willing to use their service would be instructed to download their app on Google play store and whenever the customer needs the service of a taxi, they just request for one through Uber mobile app.
Uber charges customers based on their preferred destination while the driver gets paid directly into his bank account weekly.
Goat farming is highly lucrative and it is one of the promising animal rearing business in Nigeria that can be done by anybody. Goat meat is very nutritious and widely accepted all over the world, while its milk also serves some special purposes in human body. However, goat milk is yet to be tapped into in Nigeria since imported milks has already been stocked and saturated into the Nigerian markets.
Goat meat taste good, even thou goat farming unpleasant smell is the main reason why some people won’t like to venture in the business. But if you ask me why it smells, I will tell you shit business is a profitable business. Its meat is lower in fat compared to chicken meat but has more protein benefits than beef which makes it more nutritious and beneficial than beef and chicken. Goat meat demand has made its market insatiable since its acceptance across all cultures and religion in Nigeria.
POS business is one of the most profitable businesses in the Nigerian society today. It is regarded as agent banking system where an individual serves as a representative from the financial institutions in Nigeria to offer financial transactions to Nigerians like withdrawal of funds, transferring of funds, bill payments and some other financial services.
POS business was introduced into the Nigerian society just to ease bank customers the stress of storming the bank hall whenever they are in need of any financial transaction. In general POS business thrives well in a community where there are little or no banks at all.
This business is not capital intensive and can turn you to a millionaire if you target a strategic location for the business. It’s one of the business idea Nigerians are now looking into.
As we all know that water is essential to our daily activities, it helps the human system in metabolic reaction for food breakdown and also serves as an internal waste removal that’s why it is important to hydrate our body system with at least 8 glasses of water per day for good health. Human body system gets dehydrated during the summer and drinking a whole lot of water can help balance the system for activeness.
Starting a pure water business in Nigeria is profitable and it’s one of the commercial means of getting water on the streets in Nigeria. Sachet water is affordable to get compared to table water and it is produced with a 50cl weight.
Sport betting business in Nigeria is a multi billion dollar industry. It allows sport enthusiast to rake in some cash after predicting scores and figures of each clubs they bets on. Now in Nigeria, you won’t go down in a street without seeing a betting shop that serves as an agent to big betting firms and regardless of weather the punter wins or loses his or her bet the sport betting shop still gets their commission as an agent. This is one of the reasons why sport betting business in Nigeria is lucrative.
Starting a boutique business in Nigeria is lucrative especially if you are selling ladies and kids wears. 90% of ladies are fashionistas, they love to impress and looks special each day with different shoes, bags and cloths. However, with the current trend in the fashion industry in Nigeria, it is not an exaggeration to say boutique business is profitable
Boutique business involves buying and selling of cloths, shoes, bags and other fashion accessories. When you buy a shoe at wholesales price in the market, you are likely to sell it double the amount you invested on it. So let’s say you bought 10 shoes at wholesale price of N2,000 if you sell 5 pieces of the shoe at N4,000 retail price that’s N10,000 profit in a single day. That’s a lucrative business to invest in isn’t it?
Investing into poultry farming in Nigeria is highly profitable and it has been some families source of income since white collar jobs are not forthcoming after graduation. Poultry products have been in high demand in the Nigerian local market and the farmers we have are not meeting the demands of the consumers which make it one of the best sectors to look into as an entrepreneur in Nigeria
Poultry farming involves rearing of birds from hatching ages and selling after its full maturity period. This type of business can be done by anybody providing you know the pros and cons that guide the business as it involves some technicalities.
Online businesses are business that can be done and operated through the internet. It evolves around making money online in a legal way.
In Nigeria, there are different online business you can start as a stay at home mum or unemployed youth. With the last population census that pegged our population to 180million which I believe we must have surpassed, you can take advantage of that to start your online business in Nigeria.
What if I tell you that snail farming business has turned lot farmers into a millionaire in Nigeria. It’s hard to believe right? Well snail farming in Nigeria is one of the best agrobusiness that has the potential to triple investors capital in less than 8 months. This agrobusiness is a goldmine that has been neglected by so many farmers in Nigeria.
If you’re a Nigerian looking for white collar jobs, or a business to venture into, believe me you need to have a rethink and start up a snail farming business with the little capital you are holding right now. Snail farming is far beyond going to the bush to pick snail and store in a bucket with cocoa yam leaves. You can start up this business in a commercial way and find a restaurant to supply to and rake in good returns.
If you are a stay at home mum, unemployed youth or a business owner looking for other source of income, mini importation business can help you double your income and the beauty part of the business is that it doesn’t require an office to start it.
You can start up this business by ordering for small batches of goods and sell to know how the business works. Search and identify your niche and make sure the goods you are importing will be able to solve peoples problem
Watermelon is the highest consumable fruits in Nigeria and that’s one of the reasons why research indicates that it’s the most cultivated crops in the world.
You don’t need to be a pro farmer to start cassava farming in Nigeria. It can be done by anybody irrespective of your status in the society. So far you are ready to learn the pros and cons of cassava farming believe me you are on your way to become a millionaire in Nigeria.
Plantain chips are made from unripe plantain which makes it crunchy and healthy for all ages. Plantain chips business is one of the easiest businesses to set up in Nigeria as there are already available market to distribute your product to. It is a snacks that is widely eaten by many people of different ages and makes it easy to market and distribute the product at any market place.
The capital to start up plantain chips business in Nigeria is relatively low compared to other side businesses. You don’t really need a shop to start up this profitable business as you can start it up in your house and distribute to local restaurant and market women after the production
These are the best profitable business ideas we have for you. Click on the link of each business idea on this article to get the full details on them. With the little information I compiled up here I believe you must have seen one or two business ideas that suits you.
If you’ve any suggestions on these profitable businesses, kindly drop it in the comment box.