If you are having trouble thinking of a business idea to start in Nigeria, this is the article you have been looking for. Do not be hasty, take your time, go through the list of businesses and choose the one that fits you.
Let us begin.
1. Oil and Gas Business
The oil and gas is a business that has been making millions for people both Nigerians and foreigners, creating multi-millionaires in Nigeria for years. One thing you do not know about this oil business, it the fact that you can start small and grow it with your profit. Though the business requires a lot of capital to start up (buying or renting land, obtaining the required documents for the business, building the filling station)
2. Poultry Farming
Poultry farming is one of the best business in Nigeria where the average person can make millions. A farm of over 3,000 chickens, if managed properly, can make you more than 8million naira monthly and 96million naira for a year. One good about this business is that you can start making money as early as 4-5months into the business.
3. Fruit Juice Making Business
Companies like Chivita premium, Hollandiayoghurt, chi happy hour, Capri-Sonne and chi-exotic who came into Nigeria small are now making billions every year. Starting such a business require a huge sum of money but is it worth it.
4. Rice Farming
Nigeria spends billions yearly on the importation of rice from China and Thailand due to the local farmers not being able to meet the demand. Rice is one of the most consumed food in Nigeria. Investing in this business will give you a 100% return
5. Cat Fish Farming
Catfish business is a business that is growing in Nigeria. You can start the business with the sum of 200,000 to 500,000 naira and if managed properly, applying good management skill will yield huge profits. Nigerians who ventured into this business are already making millions from it. Just like poultry farming, it does not take long to start making the profit, catfish farming takes about four (4) month for you to start making money. The demand for catfish is high, consumption of catfish is high in Nigeria. In some beer parlour, a plate of catfish Peper soup is #1,500 to #2,000.
6. Mental Scrap Business
This a high-paying business but looks dirty to some people, when you start the business then you will realize it is not as dirty some people think. You can make up to 500,000 for just one supply, there are so many companies who want mental scrap. This business is very easy and stress-free to start, the only thing is making calls or visiting dumps. You are not the one gathering the metal yourself, there are people who do that.
7. Fast food eatery
The eatery business is another source of money with high profit but with poor management will bring the death of the business. Starting this eatery business is capital demanding and need good management skills. When you do everything right you will make a lot of money.