5 Business Investment Opportunities in Nigeria
Despite the ups and down our economy as been experiencing lately and the dollar to naira issue, there are still many business that are blossoming, yours can be part of them.
In Nigeria lies great opportunities, not just opportunities but great investment opportunities. Today, we would be emphasizing on the best of these investment opportunities that you can be sure to put your money and gain profits as expected. .
1- Public transportation:
The road transportation business is one of the easiest ways to make money in Nigeria especially since this business/service tends to satisfy daily demands of the public. People have to move around, either to work, the marketplace, visit someone somewhere or to travel.
As every business has risks or challenges, so does the transport business but knowing that you are rendering your services to the large majority of people who do not own a vehicle to commute to their various destination and are willing to pay a fee for this service should be a reason to plunge ahead into this business.
You have to plan, yes do your research well, plan and carry on your plan(s).
You could buy a new vehicle or a fairly used one, known as “tokunbo”. If you are getting a “tokunbo” vehicle, go with a good mechanic, have them check every part of the vehicle you are buying.
You do not want to start your business with spending unnecessarily on repairs everyday…(as cheap article dey run belle).
After buying the vehicle (LT bus, tricycle also known as “keke”, etc), getting a trusted and careful person as a driver is another thing of importance and should never be neglected as they will determine how fast you would make profit and increase your business growth or find reputable managing companies who would entrust your vehicle to a tested and trusted driver. Do not forget to have an agreement with the driver for a stipulated amount to be delivered daily or weekly.
This business is very lucrative if handled properly.
Do you want a business that guarantees all season profits? If you answered yes, then you are a smart investor. Hotel business is one business that guarantees you profits with everything in place. One, Nigerians are fun loving people and we travel a lot either for one occasion or the other (no one does it like we do) and two, Nigeria is one of the tourists choice in Africa, for these reasons, hotels are needed.
When venturing into this business, again, you need to plan and consider everything involved carefully, from size, location, type of hotel, security, quality of services and more. Well, in Nigeria, you might want to start small, with a nice restaurant and a bar and grow into something really big. Also, the realization that a hotel is beyond a place to lay with a woman but a place better than a home to relax and should be kept clean and shiny 2-4-7 with a very good customer service, then you are sure to compete with various competitors.
Some things you will need is a perfect name for your hotel which has to be registered with The Corporate Affairs Commission (CAC) of Nigeria which should be about N30,000 or more or less, a landed property in a location that is accessible (usually by the roadside), staff and this includes a capable hotel manager(if you do not have any experience in hotel management), a receptionist, good security officers, caterers, laundry men, barmen, room service, cleaners and a supervisor. The fact is, visit some hotels and see how they roll, you can learn a lot right from the entrance of the hotel. Great stories have a beginning.
This is so straight forward. Get a landed property close to a school (a University, a Polytechnic, College of Education, a nursing school, etc), have nicely built self contains, bedsitters, single rooms even flats built and rented out to students. Most school hostels are filled up, hence the need for accommodation for the massive students’ population off campus. The affordable, the better. No matter how small the building might be, year in and year out, be sure to always have the “dough” coming in.
Recently, Nigeria has become a home for fashion and of fashion.
Yes, you are not wrong if you say virtually every Nigerian loves fashion because the truth is we do love fashion. From clothes/fabrics, shoes, hats, bags and purses/wallets, jewelries, cosmetics, nail polish, artificial lashes to hair extensions and more, we love and want them all.
If you are thinking of investing in this line of business, I suggest you pick a specific line for a start. For example, you can pick just cosmetics to sell (quality ones) and when you have gained your market’s trust, you could bring in hair extensions and before you know it, you are into the business selling everything that your customers may be demanding for.
Furthermore, the fashion designing business has grown big in the Nigerian fashion industry. Again, Nigerians love to look good, therefore, there is no doubt that if you think of becoming a fashion designer or investing in it, you must know your crafts well, of course, you really do not have to struggle for a space in the fashion world.
Currently, there are a lot of untapped territories in the Nigerian fashion industry, for example, we are yet to see proudly Nigerian street wears. As an interested investor in this line of business, you can tap into one or more of these territories and carve a niche for yourself.
As a branch of Nigeria’s economy, agriculture provides employment to the Nigerian people. In recent years, agriculture in Nigeria has taken a better turn especially for entrepreneurs who have taken the bold step of investing in it.
Farming in Nigeria, for example, creates wealth year in and year out and in coming years, this will not change.
This is because with our population that depends largely on staple food for daily consumption and the government doing all it can to turn people’s attention to agriculture to help increase food production in the country and reduce food importation, plus our large farmlands available for use, it is only proper to say, agriculture in Nigeria will produce more wealth and productivity.
If you are wondering what type of farming you should go into, remember that we have a high purchasing power when it comes to the purchase of staple foods for daily consumption, parties and more.
Hence, you can think about rice farming, cassava farming (for the garri especially), poultry farming/goat rearing, catfish farming, fruits farming, beans farming, plantain farming, cocoa farming, snail farming, maize farming, piggery and more. Find out which of these you can handle in terms of capital, land, work involved, etc.
The fact is, everyone needs to eat food, meat, fish, fruits, vegetables and drink too. Agriculture will survive humanity.
Thus, investing in agriculture is and will never be a wrong choice if proper research and plans are made and put in place.