Top 10 Businesses That Will Make You Rich In Nigeria

Top 10 Businesses That Will Make You Rich In Nigeria

To make money in Nigeria, you have to study the economy and what thrives in it. You can’t possibly sell winter jackets and expect to get returns from them, our weather is not inclined in that way.

That said, this review basically points out Businesses that work in Nigeria and that are safe and reliable to delve into;

Recommended:

E-commerce

Customers are crucial in business and apart from this being a very promising venture, it is a sure section that guarantees you billions of customers.

Working with an already established company would better help you understand how things work here before going on to start yours.

Construction materials

Infrastructure will forever be needed be it housing, hospitals, schools, etc. That is to say that there will always be a demand for building materials.

The Dangote Group is well known for its innovation in this aspect. Though it requires substantial capital there is also a continued assurance of you being in business all year long.

Real Estate

The land will always appreciate and people are making money in it, especially in Lagos. Most people don’t even rent homes now, they buy them.

Recommended:  7 Things Entrepreneurs Can Do To Stay Motivated

This is a lucrative business to put investment into. If you want to be successful here like Warren Buffett, you need to know that it is expensive and line up your financing.

Oil and Gas

What most Nigerians don’t know is that we are one of the biggest producers and exporters of oil in Africa and the world. Most people have started running petrol stations across the country, distributing diesel and kerosene in large quantities.

This also requires a lot of capital, but it will keep you in business and make you millions for a very long time. I personally know someone who started a small petrol station in Kaduna last year and it has only gotten better ever since.

Rice Farming

One of the visions we are driving at in Nigeria is food security. Though it is sometimes hard labor to cultivate and also capital intensive, you are definitely going to remain in business.

Recommended:  See How To Manage A Startup Business Growth in 2024

For example, Rice is a staple crop in Nigeria with high demand across the country. Sadly we still have to import this product from countries like Thailand even when we have the means to do it. Invest in this.

Hotel Business

The hotel business is highly competitive, granted, but it is another goldmine waiting to be tapped.

As usual, you will need capital but what would keep you in the game is excellent management skills.

Snail Rearing

Now to a low-cost business; snail. They are also low maintenance and don’t require a lot of food. Not many people are into this business, so that’s an edge for you especially as the demand is rising.

Poultry farming

Poultry farming will put you in business all year long turning your capital into millions.

Even if you don’t start with many birds, you can always start with a few hundred and work your way up from there. This guarantees millions if you are religious about it.

Trade-in Second-Hand items

Simply, fairly used products or tokunbo trade. A fraction of Nigerians would rather purchase fairly used products in order to save money be it electronics, cars, or clothes. This may not guarantee you millions in the beginning but there is a method to everything.

Recommended:  How To Set-up Your Own Business in 2024 (First Steps)

In markets all over the country, second-hand items are moving fast. The OLX website is also known for its safe trade of products and services.

Transport Sector

You need management skills to venture profitably into this business. Transport companies make millions of money from it every day.

Also, you will need a good amount of initial capital. There is always business for road transportation in Nigeria and companies like ABC and God Is Good Transport amongst many others, have found a niche here.

To sum up, visit the career tips category of this website, drop your comments and also subscribe for free updates from the Moden News team.

Credit: naija

Lastly, don’t hesitate to use the comment section to tell us what you think about this “Top 10 Businesses That Will Make You Rich In Nigeria” post. 

Leave a Comment