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
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.
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.
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
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
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.