Nigeria, with a population of about 200 million people, is an interesting country with lots of highly lucrative business opportunities. From Agriculture to oil and gas to information technology to other areas, one can thrive well. Uneasily, most Nigerians would when starting up a business, they would rather neglect the simple opportunities, waiting for the seat in a skyscraper with a Mercedes- AMG G-Class SUV as an office car. Nigerians also have a strange way of allotting certain businesses to a certain tribe/gender while every other person stays away and watches. For example, you can hardly imagine an Igbo man producing suya (jerked meat) or mending shoes. No, that's something for the Hausa, you will be told. And hardly will you find a Hausa selling Tokumbo vehicle spare parts. Along these finely cut lines, we see shame easily in highly lucrative opportunity here at home but struggle through Libya to clean toilets with squared shoulders in Europe, pocketing our dignity.
Not minding where you are from in Nigeria, I have carefully selected some highly profitable business opportunities which you can invest in (in 2018) and do well almost anywhere in the country.
1) SUYA PRODUCTION
Suya (or jerked meat) production is one of the easiest highly profitable businesses to start. Consumption of suya cuts across the ethnic, religious and social demography. You may remember the last time you stopped at a suya spot and easily purchased some for N2,000. Now, imagine the suya man making sales to 100 people that day. He would harvest N200,000 before the night runs out. Perhaps, not every body would buy suya for N2,000. But even if its at N500, he makes N50,000. Yet, it cost just a few thousand naira to acquire the apparatus for setting up this business. You don't have to start with importing machines from China/Germany.
Now, imagine a pretty young lady, a graduate manning this suya stand as her business. Is this not an opportunity for everyone?
Somehow, the entirely cattle value chain in Nigeria is not fully maximized by us, the locals. At least 50% of the beef we consume in Nigeria comes from cattle from Chad. And Nigeria consumes lots of beef, in fact we are Africa's largest consumers. Consider that each state eats only 100 cattle a day, from the 36 states and Abuja, we eat 37 x 100 (or 3700 cattle) daily. [But you know for states like Lagos, at least a thousand cattle go down each day]. At N80,000 per cow, at least half a billion naira is made from this industry daily. And you can fix yourself in, maybe fattening cows.
2) INFO TECH
Information Technology is making life a lot easier for people across Nigeria. From online shopping to making digital financial transactions, smart business minds are eating healthily from this industry. One could have a simple website as a directory for hotels or food restaurants, or something like that. And sits home on a laptop to eat good lunch. Let's look at the app you use to transfer money from your bank. You know it comes with a transfer fee when you transact with another bank? If the app developer makes only N5 from you and at least a million people transfer money using that app each day, he nets N5,000,000. But there are over 60 million bank accounts in Nigeria. Imagine that!
Well, you don't necessarily need to be an app developer to harvest from this industry. You simply need to be business minded.
I saw cattle been sold on Jiji and OLX online shops. Do you think those people advertising cows on those shops have a single cow in their home?
And there are many other opportunities you can take advantage of, including:
1. Crayfish production
2. Cassava Processing
3. Rice production
4. Sale of Furniture.
5. Fruit Juice production
6. Pure Water Production
7. Oil and Gas
8. Haulage Services
9. Hotel Services
10. Quick Service Restaurant
11. Investing in Property
12. Dry Cleaning and laundry services
13. Professional Car Wash
14. Sales of Building Materials
15.Transportation
16. Nursery, Primary and secondary School
17. Exporting of Raw Material
18. Fashion Business
19. Online importation
20. Honey production.
What investment opportunities are there in your locality?
Leave a comment, lets talk.
Kator Hule
Business Development Consultant
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