NIGERIA’S MOST SUCCESSFUL BUSINESSES
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Before we analyze Nigeria’s most successful businesses, let’s cudgel our brains a little. When you are on the verge of cultivating, wouldn’t you consider observing the lay of the land to determine what crops will thrive better and yield better?. The same applies to starting a business in Nigeria – for any new company to stay afloat, one ought to be fastidious about the environment and the nature of the business.
Knowing what business soars higher in Nigeria is a need-to-know for any entrepreneur keen to make a splash. The primary objective of this article is to analyze the kinds of business with a high likelihood of attaining success in Nigeria with the right capital.
Nigeria’s most successful Businesses
1. Real Estate: Realtors are raking in money hand over fist in Nigeria at the moment, and the truth is, this window of opportunity won’t be shut anytime soon. Investing in real estate is one of the smartest ways to make money in Nigeria because properties tend to increase in value over time and it doesn’t matter which part of the country you are, as people are always in need of properties to buy, rent or leash.
2. Private Institution: Depending on your available capital you can decide whether to begin running the affairs of a primary/nursery/secondary or tertiary institution. The upside if this idea is that the government schools are predominantly poorly equipped regarding facilities and management so capitalizing on the Achilles heel of government institutions can be a solid stepping stone to success in the educational business sector.
3. Agriculture: Undoubtedly, one of the core ways of making money in Nigeria is through Agriculture; poultry farming, cassava production, fishery, and oil production are productive ways to make money in Nigeria without breaking the bank for a capital. Agriculture as a business sector has been neglected by many gullible youths because to thrive in farming; one has to be willing to get their feet wet.
4. Sports Betting: In recent years, sports betting has taken the country by storm as a good number of youths are profoundly attached to it, thereby making the business field flourish enormously. With this in mind, competing with bet9ja would be a good move.
5. Manufacturing pure water: Nigerians are inclined to use pure water daily without fail. Given the relatively high demand for pure water usage – it would be a decent move to invest in the business of pure water manufacture. The capital required in this field isn’t quite excessively high.
6. Entertainment: More than two million records are being released in Nigeria every by a legion of musicians, many of which are independent. Running a label in Nigeria that houses artists, producers, disc jockeys and A & R is a classy way of investing as it is bound to yield unthinkable profit in due time.
7. Hotels and Restaurants: Many parts of Nigeria are tourist attraction sites, which explains why hotel owners in Nigeria never frown on the bank. Owning a luxury hotel is a gateway to incredible wealth as this sector of business boosts an insurmountable source of income. The only credible downside of this business idea is that it takes a high amount of income to start.
8. Computing: everybody is overly reliant on the internet these days, but not everybody is au fait with how the internet or computers work. Establishing a well equipped computer school where youths can enroll to gain more knowledge on various computer programs; like Photoshop, Microsoft word packages, Android app developers, web design, Corel draw and a host of others, can bring about lots of money in the long haul for any investor willing to give it a shot.
9. Mobile Phones Outlet: Launching a mobile phone outlet is another way of striking it rich in Nigeria, thanks to social media, the need to own a Smartphone is sky-high today.
10. Transportation: There can be no trade without people moving about as money, and other primary things are needed to sustain man. Road transportation is convenient to a lot of people because it is readily available, flexible and cheap. When we talk about profitable businesses, we talk about transportation.
• Decide to invest in intracity or intercity transportation by road in cities like Abuja, Lagos, and Port Harcourt, transporting residents from one part of the city to another can make you a lot of money on a daily basis because of the ever-increasing population.
• Transport traders with their goods and services from one part of the country to another.