TOP 10 LUCRATIVE BUSINESS IN NIGERIA
You want to invest your money into something profitable? This article is for you
A lot of us just dabble into investments without putting some things into consideration, especially the state of the economy. Some even think with this state of economy there are no profitable businesses one can do. The thing to do is to change your manner of approach and some other little things.
Due to the present state of the economy in Nigeria, the number of businesses that can generate high profit has reduced. But here is a list of 10 businesses that continuously yield high profit no matter the state of the economy.
Nigeria’s economy is in shackles all because of the fall in the international price of crude oil. With many workers being sacked and salaries cut. Unsurprisingly, Agriculture has proved to be the next major thing in the country. Well, we(Nigerians) find ourselves in this(economic recession) partly because we neglected Agriculture. It’s high time we return to our heritage.
This is the top 5 branches of agric you can invest in: fish farming, poultry, cassava farming, grain farming, and tomato farming.
These agricultural ideas are those you can easily start today in your compound. And it is arguably the best all lucrative businesses in Nigeria.
2. SALE OF FURNITURE
Sales of locally made furniture is a goldmine. You don’t have to be a carpenter to do this. Anybody can do this. As long as the needed capital is available, you can start this business which in most cases may not be more than N150,000 constant supply from reliable carpenters should be put in place. While you display and sell in your showroom. It is a profitable business in Nigeria as only few people can afford the imported ones.
3. HAULAGE AND LOGISTICS SERVICE
Another profitable business to venture into is transportation. This is because transportation is one of the major factors in every economy. To transport a good from one location to another costs around N200,000 – N250,000 per trip due to poor rail system, limited and expensive water and air transport system, most goods are transported via road which makes haulage and logistics service in Nigeria viable.
4. HOTEL BUSINESS
This is one of the coolest and biggest money making opportunity in Nigeria. A small or mini hotel can guarantee a high profit yield. Nigeria system somehow supports this business too as a result, makes it grow.
5. REAL ESTATE AND PROPERTIES
Investing in real estate and properties is also one of the coolest and biggest businesses which can guarantee a high profit yield. Properties appreciates everyday in Nigeria. Now, buying a land in urban areas can yield 100% profit in two years, you can either buy and resell immediately or resell later.
6. TRANSPORT BUSINESS
Road is the most functioning means of transportation in Nigeria. Anyone who invests in this business with a very good management would make very high profit yield simply because everyone is always moving.
7. SCHOOL BUSINESS
Education is the best legacy one can give to a child. This has already shown how important school is. Investing in schools is very lucrative. This business yields millions in Nigeria. Although the competition in this sector is high. Depending on the location. You only need a well managed and presentable school to stand out.
8. EXPORTING RAW MATERIALS
Among business that can yield high profit is exporting of raw materials. It boosts the economy of the country. Therefore the governments supports it.
9. ONLINE ADVERTISING AGENCY
This days, almost everything is done online. So what better platform do you need to advertise your product if not on the Internet where everything is happening. Internet advertising helps you to meet your market target unlike the traditional advertising method. This and others makes the online advertising agency one of the most profitable businesses.
10. INVESTMENT IN INTERNET COMPANIES
This business is creating is creating billionaires around the world. Everything now revolves around the Internet. You don’t have to be a tech person; all you need is a very creative online tech start up with good ideas to invest in. This type of investment can start generating profit within 1 or 2 years.