Top 10 MOST LUCRATIVE BUSINESSES TO START IN NIGERIA

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Do you intend to start a business of your own here in Nigeria but finding it difficult to pick the right one you can invest your time and money into and be guaranteed of a consistent income? Not to worry because in the article, I will be listing the various most lucrative businesses you can start in Nigeria.

Starting a business is something everyone should consider doing most especially if you are a fresh graduate instead of waiting for white collar jobs that are not even there or are been given to some selected few.

Despite the fact that it looks like the Crude Oil business is the top earning business in Nigeria which is true but requires large capital to start, there are other businesses that people can venture into and make a good return on investment aside crude oil.

Here is a list of the most lucrative businesses you can start in Nigeria

Internet Business

I so much love this business. The internet has provided a great platform for people to make legit money irrespective of your age, there are different businesses you can start on the internet which includes blogging, vlogging, app development, web designing, freelancing, affiliate marketing etc.

The internet also helps local businesses to get more exposure there by bringing more customers to them and increasing their sales. No matter the kind of business you intend to go into, you should also think of taking your business online.

Fashion

The fashion business is one of the fastest growing businesses all over the world and Nigeria is also a very good country to start your fashion business. This billion dollar industry still has room for new start-ups. The fashion business has grown from just clothes alone but to other items that up fashion which includes bags, shoes, watches, eye glasses etc. you can decide to venture into any of the different fashion business and make good return on investment.

Read Also: 7 Smart Business Idea Under The Fashion Niche

Agribusiness

Agriculture can be considered as the second largest business in Nigeria and it is something no one can do without. There are millions of Naira to be made in this business. There are different agribusinesses anyone can start ranging from poultry farming, cassava production, rice farming, fish farming etc.  This is a business that is in high demand because people cannot do without it.

Haulage

Every day, goods are being moved from one place to another and since it is very expensive to move goods in the air and the bad state of the rail transport, this makes road the alternative for people and makes the haulage business a very lucrative business to venture into. There are different goods that needs to be transported around which includes agricultural products, building equipment’s, petroleum products, plants and equipment’s etc. All you need is a truck that has the capacity to carry large amount of goods. The least business when it comes to haulage is the carry of people’s property and you can make up to ₦15,000 per trip.  

Read Also: How To Start A Beauty Spa Business

Supplier Business

There are different companies and businesses that are in need of one item or the other and as a supplier your job will be to make whatever they need available to them at all times. This item includes stationaries, petroleum products, securities etc. You can as well supply items used by people on a daily basis to shops and supermarket which includes tissue papers, soup, drinks, etc. All you have to do is register as a distributor in any of the manufacturing companies then meet up with your potential customers to make a deal with them so you can start supplying to them and make money.

Transport Business

When you come out of your house any day of the week, you will notice thousands if not millions of people going to one place or the other and for the fact that majority do not have a private vehicle, they will have to look for a means to get to their destination. This business is ever lucrative as there are always people to carry around. You can start by putting taxi or keke on the road for hire purchase where you get either weekly or monthly returns.

Read Also: How To Start A Furniture Making Business

Mobile Banking

The rate at which people visit the bank to make one transaction or the other in Nigeria is high. Most time you will have to wait in line for a long time before you get attended to which is why people are looking for ways to make things easier. This business involves you doing the same transaction as a bank which includes collection of deposit, withdrawals, paying bills etc. With the use of a POS you can start this business and make money from it.

Real Estate

This business is becoming very lucrative as people are beginning to know the value of having a landed property. The good thing about this business is that it keeps appreciating. You can see a place where lands are sold for ₦300,000 and when you go back there after 5 years you will be begging to get a piece of land for ₦1,000,000. This shows how profitable this business is.  

Read Also: How To Become A Distributor In Nigeria

Oil and Gas Business

This is indeed the biggest business in Nigeria and you can still tap into the business to make money. There are different ways you can approach this business which includes supplying of diesel or petrol, importation of petroleum products, opening a filling station etc. You are sure to make millions in this business.

Catering Business

Unlike a restaurant business where you have to cook on a daily basis, starting a catering business is an alternative and also lucrative in Nigeria. Almost every week, one event or the other takes place in our neighbourhood and you can use this as an avenue to kick start your business. All you need in this business is first to know how to cook almost all kinds of local dishes (international dishes will be an advantage) then get the necessary equipment’s. 

Read Also: How To Start A DJ Service Business

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