Rising africa 10 lucrative businesses in nigeria

10 Lucrative Businesses in Nigeria

Rising Africa:

Ever wonderedWHICH PROFESSION SUITS YOU MORE?Find out 10 lucrative businesses that you might find interesting

Poultry Farming

• Huge Market- With 100 million Consumers for poultry products

• Chickens are ready for Market in 28-30 weeks• Less time span helps investors garner ROI quickly• Loan repayment will be easier as investment mature faster• Chicken is worth 2000-2500 Naira• Egg market meanwhile continues to be attractive

Building Material Supply Business 

• Nigerian Economy is one of the fastest growing in Africa• The economy is the largest in Africa with GDP worth $510

billion• Construction industry is only 3.2 % of GDP, is to grow the

faster• Massive urbanisation will lead to boom in material supply• Focus on marketing aggressively as it can be a highly

competitive field• Get good location, and network of suppliers and buyers• Initial investment will be high, with attractive returns

Rice Farming

• Huge market- Demand is so high that Government imports rice

• In 2013 rice importation bill was at N75 billion• Rice consumption increased in last 2 decades• Government policies like NFSP to support rice production in

Nigeria• Huge thrust given to Agribusiness sector• Takes less than 4 months for harvesting hence quick returns• Rice is a high yield crop and requires not much expertise• Rice is a fast selling product hence its called 'Get Rich Quick

Farming'

Oil & Gas Business

• Huge international market- Demand for oil & gas is high• This is a risky but high return business• Multiple opportunities

– Oil Drilling & Exploration– Equipment leasing– Filling stations– Oil & Gas consulting– Contract basis Petroleum supply– Oil & Gas services-safety, monitoring, installations etc.

• Huge potential due to the large oil reserve found in Nigeria

Hotel Business

• This industry is understood by analyst to be profit making

• Nigeria witnessing economy growth and political stability

• Above factors will lead to increase in tourism and other travels

• For tourists Nigeria is becoming a choice destination in Africa

• Now hotels can be classified in terms of location, quality and size

• Some examples are Airport hotel, business hotels, Condo hotels, Conference hotels, Resort hotels , Suite hotels

• Entrepreneurs have to decide on hotel type based on initial capital and operational constraints they foresee

Property Investment

• Government announced plans to build several cities in the next few years

• The focus on infrastructure development will boost property rate

• There are plans to develop satellite cities around FCT• Increasing demand for high-end office space, retail space

and affordable residential housing• The growing expatriate population and the emerging

middle class is boosting the demand• As Nigeria’s economy grows, lucrative investment

opportunities for property investors are going to rise

Internet Based Companies

• This is one way to get maximum return on investment• The market here can be domestic as well as international• The reach of internet makes this business an attractive

proposition• To start with you have to identify a business problem• Once identified next step would be find a web based

solution• Here are some examples of internet based businesses

– Website designers– E-commerce– Promoting copyright products– Social media marketing

Water Purification

• The government has failed to deliver basic drinking water to each household

• Nigeria is seeing a steady increase in population• One can foresee a huge demand for water purification

business• Currently 2 ways of delivering are through bottles and

sachets• Sachets seems to be more affordable for the poor• Whether bottle or sachet can be decided based on capital

availability• The setup capital will be between 5 million to 10 million

Naira• Getting loan will be easier for this business

Furniture Business

• As economy is growing the middle class is also rising• Lot of offices and houses are coming up in urban areas• These spaces will need furnishing • Nigerian furniture is more affordable than imported designer

furniture• Entrepreneurs should focus on Nigerian furniture market• Analyst say N200,000 is the minimum capital requirement to

start• Ibukun Awosika - the founder of Quebees Ltd, and Chair

Centre Ltd  is a great example to emulate• 3 major requirements are Raw materials, Carpenters and

Showrooms

Restaurant Business

• Entrepreneurs can target small scale restaurants to start with• Small scale restaurants will require low startup capital• One can say that this business will withstand any economic

crisis• Industry experts say that with N300,000 you can start a local

restaurant• The profit returns are also high in this industry• Minimum requirements here are,

– Location– Utensils and other instruments– Furniture– Excellent cook

References

• http://www.wealthresult.com/• http://telegraphng.com/• http://pointblanknews.com/• http://business-matter.com/• http://www.tradeinvestnigeria.com/• http://www.nigeriawebsuccess.com/• http://pixabay.com/ for images

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Inspire millions of young people in Africa to become entrepreneurs.

Teach entrepreneurs new skills.

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Guide business owners to grow businesses and hire (more) employees.

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