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May 23, 2017

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Top 10 Profitable Business Ideas in Nigeria

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Having a business idea in Nigeria is the main thing one needs to start a profitable business in Nigeria. Though having a business idea is not the only thing needed as having the will to start and the hunger to take action matters very well but a business idea is the overall structure of starting and running a profitable business in Nigeria.

There are many profitable business ideas in Nigeria one can invest on and turn it into a big brand. Nigeria being the highest economy in Africa has an advantage of large market with a population of above 170 million. This is an advantage that benefits many businesses in Nigeria as you can always take some share of the market from other competitors even if you just started.

I have previously published some list of lucrative of business one can start in Nigeria with less money and I am going to share with you some of these profitable business ideas one can start in Nigeria and turn it into a big merchandise as I have previously published about the benefits and opportunities of doing business in Nigeria which you can read here

 

Profitable business Ideas to start in Nigeria

 

 

1. Agriculture

There are many business ideas in the agricultural sector one can invest in and considering the factor that Nigeria government is investing heavily on Agriculture which will be easy for one to get a loan from the agricultural bank and other government loan support programme.  Such Ideas are:

 

  • Poultry Farming:-  Poultry farming is a lucrative business in Nigeria and one can easily start it with little money and grow over time. Learn how to start a lucrative poultry business here.
  • Snail Farming:-  As the price of a snail is very expensive and cooked or prepared snail meat is even more expensive one will wonder how to start snail farming business. It is relatively easy to start as one snail can lay upto 300 eggs and this makes it very easy to triple your revenue. Learn how to start a profitable snail farm business here

 

  • Others are:
  • Tomatoes planting
  • Grass cutter farming
  • Fish farming
  • Cassava Farming

 

All are very lucrative business ideas to start in Nigeria.

Related: 19 lucrative business to start with less money in Nigeria

 

2. Technology

This is a trending business growing all over the world today and many tech entrepreneurs have become a billionaire within a short period of time. From Alibaba, facebook, instagram, google, Gopro etcc to bloggers who have made a lot of money in Nigeria. One can also learn how to make money uploading unique videos in YouTube.

 

Starting a tech company involves many things but the most important thing is an Idea of what solution your tech company will solve to the world which you will in return make lots of money from it. I always advice people to start a tech company that delivers service rather than product because people are more willingly to pay for service than product.

 

 3. Manufacturing

This is very lucrative business idea to start in Nigeria. Manufacturing sector in Nigeria has witnessed lots of growth and with the assistance of banks and some Government Agencies to finance and support this SMEs-It has become very interesting for manufacturing companies. I have also shared how you can start a PVC manufacturing company and Bottled water company in Nigeria. Some of the things you can manufacture in Nigeria are:

 

  • PVC Pipes and Conduit Pipes
  • Bottled Water
  • Garri processing and packaging
  • Shoe and leather processing
  • Soap and detergent Production
  • Paint Production
  • Solid minerals processors
  • Foam production
  • Fishery Production
  • Carment and Textile Production
  • Printing press
  • Concrete Blocks-Bricks
  • Ceramic Tiles production
  • Etc….

 

 4. Management services

Management service has proven to be a lucrative business and also a good employer of labor. Such management services are;

 

  • Job recruiter
  • Reas Estate Management
  • Hotel Management
  • Bar Management
  • Company Management
  • Consutancy services
  • Career Management
  • Car Hire service

Related: 21 ways to grow your business in Nigeria

5. Restaurant Chain

This is very profitable and also capital intensive. Starting a good and digital restaurant chain in Nigeria is an idea business to engage in. There have been many fast food restaurants in Nigeria offering almost the same type of foods and starting a unique set of food and at the right location will drag your competitors customers to patronize your food. Most of it all , make sure that your restaurant is very neat, conducive and your staff are very diligence in their duties.

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About The Author

I am the founder of Enterprise boom and a passionate Nigerian entrepreneur who wants to change the world, solve problems and make a difference in the process. I will describe my self as a critical thinker, business strategist, principal business consultant and a writer. I share great value and educate people on how to manage and grow their enterprise.

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67 Comments

  1. Francis Ikechukwu

    Waaw,. Nice job sir, keep it up,. May God bless u for me,. Sir, as a monthly earner as little as #35,000, i want to be self employed on my own, to be independent,. with #200,000 to #300,000 what kind of business can I engaged myself in if u were to be me

    Reply
  2. Chinedu Nwaigene

    Wow, its great to hear about it. I am so glad and if there is anyway I could be of assistance to the success of your proposed business, do let me know. I want to see you succeed.

    Reply
  3. Haseena

    Thanks for the useful infor. I just graduated from the university one week back and I so much want to start something to earn a living. All my life savings is fifty thousand naira only but I don’t know wat to venture on. Even though I have passion for restaurant biz. Pls is dere any suggestion for me on how to start with the little money I have? Lyk anything dat I can start with for the main tym. Thank you and may God bless you richly

    Reply
    1. Chinedu Nwaigene

      Thanks Matthew, Clothing is a good profitable business in Nigeria and I am glad you mentioned it. will get more research and meet some of the retailers and probably update the article at due time.

      Reply
  4. Jacob

    You are too much sir. More greece to elabow. All your writes up are superb. Please i need details of where i can buy machines for production. Also, where i can learn soap detergent and all other things.
    Thank you.
    Jacob

    Reply
    1. Chinedu Nwaigene

      Thanks Jacob. It depends on the exact machine you are interested about. Try Alibaba website and search for the machine and also ask many questions to the manufacturers to make sure the machine will meet your criteria of product. About Soap detergents, there are lots of people that actually teaches how to do it and I will help find someone to recommend. Sorry about the late reply!

      Reply
  5. Rhyno

    wow am impressed whit your guide.

    pls I would love to get A little more guidance as A fresh SME start-up.

    can I get to connect with you one on one?

    Reply
  6. Chinemeze

    I need to learn how to blog and build applications… admin please help.. how would I start the business and how profitable is it

    Reply
    1. Chinedu Nwaigene

      Blogging is a good business but requires patient and time. You would start the business by deciding to start and taking actions. I write a post earlier about how to start blog in Nigeria.. Please do search for it as i hope it will be of importance.

      Reply
  7. richie eyo

    Most people will demand 2k beofore giving out such package but you gave it to us for free..GOD will never forget you.I intend 2 go into water melon planting what will be uoyr advice to me?
    Thanks

    Reply
    1. Chinedu Nwaigene

      Nice for your message and sorry for late response. To go into water melon planting requires a careful knowledge about the watermelon and how it is planted , the type of soil moisture, the period of growth and cultivation. The location that would be suitable, the business side of registering your name, hiring staffs, raising funds, marketing your fruits or creating anew business out of it like opening a store for watermelon fruits and juices.

      Reply
  8. babalola akintunde

    I want to commend you on the piece you posted here, I just graduated from school planing to go into farming on a very large scale, i have made my research and enquiry on what I want to do and i’ve been enlightened to some extent on how to go about it and the time in which the planting of farm crops will started,my mum own the land in which I want to use for it. My problem now is the money to start with, I don’t know may be I can get an agricultural bank or agencies whom give out loan for a business like this through you. Thanks and God bless you.

    Reply
    1. Chinedu Nwaigene

      Thanks Babalola, Agricultural banks do give out loans to people but I guess the amount is limited. s you want to start it in large scale, I would advice you to start small and grow with time.

      Reply
  9. Godwin

    Hi admin, well done nd gud job…my suggestion is this, all ur business ideas sound interesting but it seems one gonna need a huge capital to start some of it…can u pls post some business idea one can start with little capital nd hw to go about it, thanks.

    Reply
    1. Chinedu Nwaigene

      There are many business you can start capital and are fast growing business in Nigeria. I have publishes about 37 small business ideas you can start in Nigeria. Check it out in this blog. Thanks Godwin!

      Reply
  10. George Chukwu

    Good and insightful. How may I set up fish farm and piggery in Lagos, please. I need an honest and diligent guide.

    Reply
    1. Chinedu Nwaigene

      Dear George, I will publish about fish farming business soon. I am doing more research to update my knowledge on it. Pls visit this blog regularly.

      Reply
  11. chukwu Jonathan

    I attend going into restaurant chain biz ,but my problem is location of the place. thanks my regards
    this my 08039151565

    Reply
  12. James

    am a boy of age 19 and i am really impressed with the job well done here. i intend going into business which will have to do with the youth here in nigeria, am talking about legal business which could be a hall for ceremonies, barber shop, game stations, and a football viewing center. please throw more light on this idea of mine even though i know i can’t start it all at once. thank you…..

    Reply
    1. Chinedu Nwaigene

      Thank you James. I have written about how to start a good barbing business in Nigeria ans other fast business ideas in Nigeria. Please do check it out!

      Reply
    1. Chinedu Nwaigene

      Female handbags is very demanding and most of them are imported. So going into the business is a good step but you have to focus more ways to advertise as I believe you have limited money to reach to many people. Check our post about how small business can advertise their business.

      Reply
  13. Ifiokobong

    Thank you for this wonderful list of business ideas. Its now up to readers to choose the one that is very profitable. I’ll like food business just because every one eat food everyday. Its surely lucrative no matter the competition

    Reply
  14. oluchi Igwe

    I would like to go into foodstuff biz this december ending,and i also need a shop for, how do i start as a young lady,i reside in Abuja but i need to start with the little i av.thanks and God bless u more

    Reply
    1. Chinedu Nwaigene

      Dear Oluchi, pls start small and grow with time. Your foodstuff or grocery business is lucrative one but make you that you are in good location where foot passers are plenty.

      Before you start, I will also advice you to think about the category of the groceries you intend to sell and to which particular group of people will patronize you then reach for those people. Write a brief business plan for your business to guide you to your business mission. If you need more information, please do contact us!

      Reply
  15. Daramola Sogzy

    Job well done… I’ve read some other of your post.. And they are very nice. Buh I’m also a writer and would like to write for enterprise boom..

    Reply
  16. Alex Omowale

    Am really impress and gained a lot in words of knowledge in time of business, may God gives you more wisdom. I’m interested in airway business and i need ur advice on it.

    Reply
    1. Chinedu Nwaigene

      Thank you Alex and may God bless you too. I would want to know what category of airway business so I can offer my advice accordingly.

      Reply
  17. Ibrahim gallyakeem Olajide

    it very nice,i think have learn from your post,am very passionate about transport business which i want you to focus your discussion on,thanks

    Reply
  18. SALAU RAMON

    u’ve done a good job by informing people about biz they can lay their hand on.Keep it up.I will like to know u personally.:08027726340

    Reply

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